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Neo4j Transforms Its Cloud Database Portfolio to Accelerate Graph Adoption & GenAI for the Enterprise

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New capabilities, new offerings, & 15X read capacity increase make the industry’s most comprehensive graph offering easier to try, build & buy
NEW YORK, Sept. 4, 2024 /PRNewswire/ — Graph database and analytics leader Neo4j® today announced a major transformation of its Aura cloud database management system (DBMS) portfolio – making it dramatically easier for enterprises to try, build, and accelerate graph in production for any workload or use case. The announcement comes amid rising growth and demand for Neo4j’s cloud offering, driven by the critical role of graph databases in GenAI and advanced analytics applications and accelerated by GraphRAG.

“By 2025, graph technologies will be used in 80% of data and analytics innovations — up from 10% in 2021 — facilitating rapid decision-making across the enterprise,” predicts Gartner®.1   Gartner on GraphRAG technology also notes in its Hype Cycle™ report, “RAG techniques in an enterprise context suffer from problems related to the veracity and completeness of responses caused by limitations in the accuracy of retrieval, contextual understanding, and response coherence. KGs (Knowledge Graphs), a well-established technology, can represent data held within documents and the metadata relating to the documents. Combining both aspects allows RAG applications to retrieve text based on the similarity to the question and contextual representation of the query and corpus, improving response accuracy.”2
Neo4j’s announcement, made on the eve of its GraphSummit enterprise conference in New York, reinforces the company’s market position as the leading native graph database. It offers the most comprehensive and performant graph offering with vector search and search capabilities, the largest library of 65+ graph algorithms, deployment flexibility in any cloud or environment, and unrivaled community support. 
Capabilities are available now and include:
New Aura console with GenAI co-pilot as a unifying hub to easily administer, manage, ingest, model, and visualize data efficiently across all of Neo4j’s offerings and tools. Administrators and developers can also interact with these tools in natural language, eliminating the need for Cypher query language expertise.New no/low-code interactive dashboard builder NeoDash that easily creates maps, graphs, bar and line charts, tables, and other visuals for anyone to understand, analyze, and interact. While developers have used NeoDash as part of Neo4j Labs, it is now a fully supported offering for enterprises.New self-serve offering, Neo4j AuraDB Business Critical, at a 20%+ lower price point than Neo4j’s traditional AuraDB Enterprise offering and designed for highly available workloads requiring advanced security. The new tier follows on the heels of Neo4j’s explosive cloud growth and growing demand for an easy-to-access enterprise offering. Customers requiring dedicated environments, such as those in highly regulated industries, can continue to use AuraDB Enterprise, now renamed AuraDB Virtual Dedicated Cloud. Neo4j will also make its AuraDB Professional tier available as a free trial for use cases in production.15x scale improvement in real-time read capacity. Neo4j can now process 15X more real-time data within each cluster without compromising on latency or performance. The result enables uninterrupted processing of data-intensive analytics workloads even as customer data volumes increase.Advanced enterprise control, audit, and compliance capabilities that include Customer Managed Encryption Keys that the customer owns, controls, and uses to encrypt and protect their data; and Security Log Forwarding enabling customers to stream and audit security logs in real-time. Neo4j achieved SOC 2 Type 2 and HIPAA compliance earlier this year, with additional certifications here.Supporting quotes
Álvaro Rodrigues, Manager, Cloud Services & IT Infrastructure, Qualicorp”Neo4j’s fully managed Aura database has significantly reduced the operational effort and helps to avoid any disruptions by eliminating the need for manual version upgrades or updates at the database level, OS level, or security patches. Qualicorp is excited by Neo4j’s latest enhancements to its graph database solutions and its potential to take insights to the next level.”
Aadil Dowlut, Ph.D, Data Science Chapter Lead, Spark NZ”The rapid development and evolution of graph database technology has presented an extraordinary opportunity to propel our machine learning and GenAI solutions forward. These advancements hold the potential to revolutionize our data organization and connectivity, unlocking unprecedented levels of insight and decision-making. By seamlessly integrating graph databases into our AI models, we can significantly enhance the grounding of large language models (LLMs). This integration ensures that our models generate responses which are rooted in real-world data, delivering contextually accurate and actionable insights across the organization.”
Chris Jangareddy, Managing Director, AI, GenAI and Data Engineering, Deloitte Consulting LLP  “As business leaders embrace Generative AI, Neo4j’s newest capabilities help enrich our clients with more accurate and contextually rich business results. Our relationship with Neo4j is just one more demonstration of Deloitte’s commitment to building our AI ecosystem of alliances to give our clients access to the leading-edge technologies that can help them realize competitive advantage.”
Sudhir Hasbe, Chief Product Officer, Neo4j”Today’s announcement marks a pivotal leap forward in our mission to empower enterprises with the industry’s most robust, scalable, and performant graph database management solution. Simultaneously, these innovations lower adoption barriers for graph technology and GraphRAG for GenAI, enabling organizations to push the envelope on what’s possible for their data and their business.”
For more information, read our blog post or attend a Neo4j GraphSummit in a city near you.
About Neo4j
Neo4j, the Graph Database & Analytics leader, helps organizations find hidden patterns and relationships across billions of data connections deeply, easily, and quickly. Customers leverage the structure of their connected data to reveal new ways of solving their most pressing business problems, from fraud detection, customer 360, knowledge graphs, supply chain, personalization, IoT, network management, and more – even as their data grows. Neo4j’s full graph stack delivers powerful native graph storage with native vector search capability, data science, advanced analytics, and visualization, with enterprise-grade security controls, scalable architecture, and ACID compliance. Neo4j’s dynamic open-source community brings together over 250,000 developers, data scientists, and architects across hundreds of Fortune 500 companies, government agencies, and NGOs. Visit neo4j.com.
Contact:[email protected]/pr
©2024 Neo4j, Inc., Neo Technology®, Neo4j®, Cypher®, Neo4j Bloom™, Neo4j Graph Data Science Library™, Neo4j® Aura™, and Neo4j® AuraDB™ are registered trademarks or a trademark of Neo4j, Inc. All other marks are owned by their respective companies.
1 Gartner, Emerging Tech Impact Radar: Data and Analytics, By Kevin Quinn, Radu Miclaus, Ben Fieselmann, et al, November 20, 20232 Gartner, Hype Cycle for Generative AI, 2024, By Arun Chandrasekaran, Leinar Ramos, 31 July 2024
Gartner and Hype Cycle are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
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Artificial Intelligence

GEEKOM releases a perfect mini PCs with dual 2.5Gbps Ethernet ports – GEEKOM GT1 MEGA

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TAIPEI, Sept. 20, 2024 /PRNewswire/ — GEEKOM, a Taiwanese tech company also known as the Green Mini PC Global Leader, recently released a strong lineup of flagship mini PCs with Intel Core Ultra processors and dual Ethernet ports, making it possible for users to enjoy impeccable performance and superb networking functionalities at the same time.

One of these mini PCs is the GEEKOM GT1 Mega, which employs a beautiful aluminum chassis with plenty of I/O, including two full-function 40Gbps USB4 Type-C, six USB Type-A, 2 HDMI2.0, a 3.5mm audio jack, an SD card reader and dual Ethernet ports. The two Ethernet jacks are both of 2.5Gbps standard, which not only delivers high-speed and reliable internet connection for people’s daily computing chores, but also enables the mini PC to serve more sophisticated networking functionalities as a soft router, a virtual machines, a hardware firewall, or even a home server. Besides, dual Ethernet ports can separate internal and external network connections, providing logical and physical separation of trusted and untrusted network traffic and keeping data safe from potential cyber-attacks.
The GT1 Mega is powered by Intel’s latest and smartest Core™ Ultra processor (up to CoreTM U9-185H) and dual-channel DDR5-5600MHz RAM. Thanks to the new CPU, GPU, and NPU three tier multi-processing architecture, the mini PC is ready to harness the superpowers of Artificial Intelligence. It is compatible with more than 500 AI models across 20+ categories and supports high-performance low-power processing in a wide range of computing scenarios, which include enhancing facial features and blurring the background during video calls, removing the vocals from songs to create karaoke tracks, and generating large-scale images based on texts or voice commands. Basically, the GT1 Mega allows users to finish tasks that used to take hours or even days through only a few keystrokes!
The GEEKOM GT1 Mega,is now available on GEEKOM’s official website.
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Artificial Intelligence

Lucinity Partners with Sift for Unified Fraud and AML Case Management

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SAN FRANCISCO, Sept. 19, 2024 /PRNewswire/ — Lucinity and Sift have announced a partnership, unifying fraud and Anti-Money Laundering (AML) into Lucinity’s integrated FinCrime compliance platform for case management, agent-enabled workflow automation, and Generative AI.

Sift is an AI-powered fraud platform securing digital trust for leading global businesses. Its Global Data Network analyzes more than 1 trillion events and identity signals per year to prevent fraud across the entire consumer journey. Lucinity and Sift formed this new partnership to address the challenges of fragmented fraud and AML systems, aiming to centralize and enhance financial crime investigations.
Sift’s AI-powered solution will now be integrated into Lucinity’s platform. This collaboration enhances Lucinity’s ability to provide a seamless and efficient compliance solution. It allows teams to review and manage fraud alerts more effectively through Lucinity’s unified Case Management system, thanks to the native integration between the systems. Key benefits to Lucinity’s users include:
Real-Time Fraud Screening: Payments are screened for potential fraud in real time, utilizing Sift’s fraud detection capabilities.Automatic Payment Holds: Payments suspected of fraud are temporarily held, ensuring verification before processing.Streamlined Reviews: Compliance teams can conduct thorough reviews of flagged payments within Lucinity’s Case Management solution.Risk Level Adjustments: Fraud detection parameters can be customized to adjust sensitivity levels, adapting to emerging fraud trends and risk appetites.This partnership also enables users to leverage Lucinity’s Generative AI capabilities through the Luci copilot to investigate fraud cases more efficiently.
Udi Nessimyan, President and Chief Revenue Officer of Lucinity, comments, “One of the greatest challenges in fighting financial crime is fragmented systems and data. Our partnership with Sift helps address this challenge by providing a centralized platform for various case types, including AML, fraud, sanctions, and ad hoc cases. Our collaboration significantly enhances the productivity of investigation teams, reducing the time spent on cases from hours to minutes.”
Sift’s Chief Marketing Officer, Armen Najarian, emphasizes the collaborative effort to enhance financial crime prevention, stating, “Cybercriminals are increasingly leveraging AI to bypass traditional anti-money laundering and fraud controls, creating sophisticated and dynamic threats. To combat these evolving risks, companies must adopt a ‘fight fire with fire’ approach by leveraging AI-powered solutions. Through Sift’s partnership with Lucinity, businesses can stay ahead of fraudsters, ensuring robust protection against abuse and enabling fearless growth.”
About Sift: https://sift.com About Lucinity: https://lucinity.com
Media contact:Celina [email protected] +354 792 4321

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Artificial Intelligence

Employee Background Check Software Market Size to Grow USD 828.8 Million by 2030 at a CAGR of 4.9% | Valuates Reports

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BANGALORE, India, Sept. 19, 2024 /PRNewswire/ — Employee Background Check Software Market is Segmented by Type (Cloud-Based, On Premises), by Application (SMEs, Large Enterprises): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Employee Background Check Software Market was valued at USD 587 Million in 2023 and is anticipated to reach USD 828.8 Million by 2030, witnessing a CAGR of 4.9% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Employee Background Check Software Market:
The employee background check software market is growing due to increasing demands for secure hiring processes and regulatory compliance, especially in industries such as finance, healthcare, and IT. As companies look to reduce risks associated with fraud, legal liabilities, and workplace safety, background checks are becoming a critical part of recruitment processes. The rise of remote work has further accelerated the need for digital solutions. However, challenges include concerns over data privacy and varying legal frameworks across regions, which may slow adoption in some areas.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET:
Cloud-based background check software is gaining traction due to its scalability, remote access, and cost-effectiveness. With cloud-based systems, businesses can streamline their hiring processes, particularly when operating across multiple locations. The ability to access data and conduct checks in real-time is highly valuable for organizations managing large workforces or remote employees. The flexibility and lower upfront investment of cloud-based solutions make them popular among businesses seeking efficient and adaptable systems for their recruitment processes.
On-premises solutions remain important for organizations with strict security and data control requirements, such as those in government, defense, or finance. These companies often need complete ownership of their data, which on-premises software offers, reducing the risk of external breaches. Although it requires significant upfront investment and maintenance, on-premises software provides a high level of customization and security. It’s especially useful for businesses dealing with sensitive information and industries where compliance with local data protection laws is critical.
Large enterprises, particularly those operating in regulated industries like banking and healthcare, are the major adopters of employee background check software. These organizations deal with large volumes of hires, making streamlined background checks essential for compliance and operational efficiency. The ability to integrate background check systems with existing HR tools, such as applicant tracking systems, allows large companies to manage their recruitment processes more effectively. The need for comprehensive and accurate background checks is crucial for mitigating risk and ensuring legal compliance.
The rise in remote working has increased the demand for background check software that allows companies to vet employees regardless of their location. Digital background checks, particularly cloud-based ones, make it easier for organizations to screen remote workers efficiently. This trend is expected to continue as more companies adopt hybrid or fully remote work models, where geographical barriers no longer restrict talent acquisition but require thorough and remote-friendly verification processes.
As regulatory frameworks for employment practices become more stringent globally, businesses are increasingly relying on background check software to ensure compliance. Laws like the General Data Protection Regulation (GDPR) in Europe and the Fair Credit Reporting Act (FCRA) in the U.S. have made it mandatory for companies to conduct background checks within specific legal parameters. This has led to increased demand for software solutions that can automate these processes while maintaining compliance with regional and international laws.
A major trend in the employee background check software market is the integration of these solutions with human resources management systems (HRMS). Integrating background checks with HR software streamlines the hiring process by consolidating background checks, employee records, and onboarding into one system. This improves operational efficiency for businesses, particularly large enterprises that handle significant recruitment volumes. Integration with HRMS allows for real-time updates, making background screening an even more integral part of the hiring process.
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EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET SHARE
North America dominates the market due to stringent employment regulations and widespread adoption across industries. Europe is another key region, driven by GDPR compliance and demand in finance and healthcare. The Asia-Pacific region is experiencing rapid growth due to increasing awareness of the importance of background checks, especially in countries like China and India, where digital hiring platforms are becoming more popular. The market is also expanding in the Middle East and Africa as businesses prioritize secure hiring practices.
Key Companies:
HireRightGoodHireCheckrSterlingHireologyINTELIFIGood EggPeopleG2VitayCertnGlobal HR ResearchVeritable ScreeningXrefZincPaycomADPVICTIGIntelliCorp (Cisive)SpringVerifyAsurintUniversalAssureHireVerified FirstHireSafePurchase Chapters: https://reports.valuates.com/request/chaptercost/QYRE-Auto-2A10579/Global_Employee_Background_Check_Software 
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
–  Employer of Record Services market was valued at USD 128.2 Million in 2023 and is anticipated to reach USD 196 Million by 2030, witnessing a CAGR of 6.8% during the forecast period 2024-2030.
–  Employee Engagement Platform market was valued at USD 805 Million in 2023 and is anticipated to reach USD 2217.4 Million by 2030, witnessing a CAGR of 15.5% during the forecast period 2024-2030.
–  Employee Advocacy Platforms market was valued at USD 533 Million in 2023 and is anticipated to reach USD 1020.8 Million by 2030, witnessing a CAGR of 9.7% during the forecast period 2024-2030.
–  Employee Feedback Software market is projected to grow from USD 499.5 Million in 2024 to USD 1287.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.
–  Employee Productivity Tracking Software market is projected to reach USD 311.8 Million in 2029, increasing from USD 219 Million in 2022, with the CAGR of 5.2% during the period of 2023 to 2029.
–  Employee Feedback Software market is projected to grow from USD 499.5 Million in 2024 to USD 1287.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.
–  Employee Rewards and Recognition Software Market
–  Employee Productivity Monitoring Software Market
–  Employee Recognition Software market was valued at USD 2247 Million in 2023 and is anticipated to reach USD 4186.4 Million by 2030, witnessing a CAGR of 8.9% during the forecast period 2024-2030.
–  Employee Lockers Market
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