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Majority of Greater Bay Area consumers identify as ‘tech-savvy’, KPMG and GS1 Hong Kong survey finds

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In the wake of fast-emerging digital technologies transforming how customers behave, more consumers are identifying themselves as “tech-savvy”, according to a joint survey by KPMG China and GS1 Hong Kong.

KPMG China and GS1 Hong Kong’s fourth annual report titled Digital Retail on the Rise provides an overview of digitalisation and technology trends in retail sectors in the Greater Bay Area (GBA). YouGov was commissioned to conduct two surveys, the first one of more than 1,500 consumers in Hong Kong and across nine GBA cities*, and the second one polling more than 300 Hong Kong-based C-level executives.

Of the respondents in the nine GBA cities, 77 percent identified themselves as ‘tech-savvy’, with fast-emerging digital technologies appearing to be responsible for the transformation in the ways consumers behave.

Alice Yip, Partner, Head of Consumer & Industrial Markets, Hong Kong, KPMG China, said: “Digital technology is transforming the retail industry. As data analytics drives growth for companies and consumers become more tech-savvy, expectations for faster and better ways of doing business are rising.”

The findings reveal that Hong Kong consumers are far more likely than their mainland counterparts to manage their finances online (77 percent versus 56 percent) or make payments by mobile (73 percent versus 59 percent). This indicates a more conventional mode of digital engagement in Hong Kong. A majority of the consumers across all areas reported having consumed online media, free and paid channels, within the past year, with the rate among Hong Kong consumers standing at 74 percent – slightly higher than the 69 percent of mainland respondents who answered this question affirmatively.

The survey also measured consumer habits across the GBA in researching and selecting products online. Brand websites were revealed to be one of the most common resources that consumers in Hong Kong (54 percent) and the nine mainland cities (58 percent) look at for product details. Hong Kong consumers also prefer to browse price-comparison websites (55 percent) for their research, while comparable numbers of mainland consumers search online for user reviews (54 percent).

As data is considered essential to business, companies across the GBA are becoming more receptive to new technologies, strengthening their customer connection and service delivery. This is driving a digital transformation across sourcing, logistics, customer interaction and product sales both offline and online, the report found. Asked to select the technologies and solutions being used, C-level executives put barcodes and QR codes on top, at 57 percent. Core analytics and cloud computing are coming into sharper focus as firms try to think and act smarter to gain a competitive edge, with 41 percent of company respondents saying they use core analytics and 27 percent utilising cloud computing.

The most significant year-on-year change in executives’ responses about the challenges their organisations face was a drop from 42 percent to just 23 percent in developing a multichannel strategy. It appears companies have overcome the perceived barriers and implemented at least some form of working solution to omni-channel retailing.

Data powering growth

In terms of growth strategies in the coming two years, 37 percent of surveyed C-level executives said they want to become more data-driven to generate more real-time insights, and 34 percent seek to develop and apply innovative technologies to increase one’s competitive edge, just ahead of the 32 percent who selected launching online campaigns to engage customers.

Anna Lin, Chief Executive, GS1 Hong Kong, said: “Data is the foundation for business success today. Accurate, sharable, searchable and linkable information is critical to redefine the customer experience, while data analysis and intelligence that generate insights can help retailers and brands stand apart.”

Analysing data is the most important business priority for the coming two years when it comes to digital technology. However, while 77 percent of polled executives said they are collecting data, only one-third are currently analysing the information. A further 38 percent say they are planning to implement data analytics in the future, but seven percent have no plans to do so.

The absence of imminent plans appears to be related to another key finding. A lack of expertise in how to process consumer data efficiently was cited by 45 percent of the surveyed C-level executives as the top challenge companies face in this digital age. Integration of data followed (38 percent), then came measuring the return on investment (34 percent). The demand for talent across the GBA indicates a need for investment in training and recruitment in digital and data sciences.

Furthermore, Generation Z is driving unprecedented change in the retail business as brands adjust strategies for the group’s unique attitudes. Most surveyed C-level executives stating they are adopting strategies targeting Generation Z are focusing on providing a personalised and interactive experience (32 percent) as well as convenience (29 percent) and optimising the mobile experience (25 percent). These results are largely aligned with the expectations of Generation Z.

As a connected cities strategy gains traction, both consumers and businesses are paying more attention to how existing infrastructure may evolve. The surveyed C-level executives from the nine GBA cities think that smart logistics and warehousing is the most important smart-city driver in the coming two years, while Hong Kong and mainland consumers think that new payment methods and smart environmental issues are the smart-city priorities for their markets respectively.

Anson Bailey, Partner, Head of Consumer & Retail, ASPAC, Head of Technology, Media & Telecoms, Hong Kong, KPMG China, concludes: “As consumers across the Greater Bay Area adopt technology at an exponential pace, businesses must respond by creating new digital roles, embracing the rise of digital ecosystems with smarter predictive analytics and developing the workforce of the future.”

*Note: The nine GBA cities include Dongguan, Foshan, Guangzhou, Huizhou, Jiangmen, Shenzhen, Zhaoqing, Zhongshan and Zhuhai. Data for Macau consumers was excluded due to insufficient sample size.

 

SOURCE KPMG China

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Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

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Universal Robots and MiR open new robotics hub in Denmark

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May 14, 2024

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Global robotics leaders Universal Robots (UR) and Mobile Industrial Robots (MiR), both Teradyne Robotics companies, will share headquarters to increase synergies and accelerate innovation within advanced robotics. 
ODENSE, Denmark, May 14, 2024 /PRNewswire/ — Universal Robots, the Danish collaborative robot (cobot) company, and MiR, the Danish manufacturer of AMRs (autonomous mobile robots), today celebrated the Grand Opening of their new 20,000 sqm headquarters in Odense, Denmark.

Partners from UR and MiR’s global ecosystems attended the event, including NVIDIA and Siemens, with whom Teradyne Robotics and its companies have recently announced several collaborations.
“The launch of this new headquarters marks a significant milestone for Teradyne Robotics as we bring together two leading companies in robotics innovation,” says Ujjwal Kumar, Group President of Teradyne Robotics. “We will now have the optimal environment to evolve our technological capabilities, which are already in high demand.”
On the new robotics hub, Jean-Pierre Hathout, President of MiR, said:”Our new headquarters is designed to foster innovation, providing the perfect setting for our teams to develop leading-edge solutions that will revolutionize automation. MiR is committed to being a one-stop-shop for material handling, continuously advancing our technology to meet the evolving needs of our large, global customers. Our recently launched AI-powered MiR1200 Pallet Jack exemplifies this dedication. I’m thrilled to witness the transformative impact of our endeavors and to showcase MiR’s and UR’s offerings to our customers and partners at this state-of-the-art facility.”
Kim Povlsen, President of Universal Robots, added:”Since our foundation, UR has become a platform of choice for thousands of customers and hundreds of ecosystem partners. This beautiful building reflects our strong design philosophy and provides the perfect location for us to continue our mission to deliver automation for anyone, anywhere.”
Transformative power of advanced automationThe opening included a panel discussion featuring Deepu Talla, Vice President of Robotics and Edge Computing of NVIDIA, Rainer Brehm, CEO of Siemens Factory Automation, and Ujjwal Kumar, Group President of Teradyne Robotics. The panelists discussed the use of physical AI across industries, underscoring the transformative power of advanced automation for businesses and workplaces.
Photos from the Grand Opening and a recording of the panel discussion can be viewed on UR and MiR social media channels and will soon be available here.
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About URAbout MiRAbout Teradyne Robotics
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View original content:https://www.prnewswire.co.uk/news-releases/universal-robots-and-mir-open-new-robotics-hub-in-denmark-302144008.html

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Mullen Coughlin LLC Adds DFIR Professional, Chris Ballod, to Incident Response Team

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May 14, 2024

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DEVON, Pa., May 14, 2024 /PRNewswire/ — Mullen Coughlin LLC, a leading international data privacy and security law firm, proudly announces the addition of Chris Ballod  to the Incident Response team as Senior Partner.

With a legal and professional career spanning over two decades where he held prominent positions within the cyber insurance ecosystem, including most recently as Associate Managing Director for a well-known cybersecurity risk management and digital forensic incident response (DFIR) firm, Chris possesses a deep understanding of the complicated and nuanced data privacy legal landscape and real-life experience in leading forensic investigations into hundreds of various types of data privacy incidents.
“It is my great honor to join the team that made the incident response community what it is today. The attorneys and staff at Mullen Coughlin are some of the best and most experienced in the field, and I am excited for us to face the future of this industry together,” says Chris about joining the Firm. 
Chris’s addition reinforces Mullen Coughlin’s commitment to delivering effective and efficient legal services tailored to each organization’s unique needs – prior, during, and after a data privacy and security incident. With a proven record of success for organizations around the globe, Chris’s knowledge and experience further strengthens Mullen Coughlin’s ability to provide unmatched cybersecurity and data privacy legal counsel to organizations of all sizes and across all industry sectors.
“The addition of our friend, and now colleague, is another chapter in the Firm’s dedication to one theme – One Firm, One Focus: Cyber,” says Mullen Coughlin CEO John F. Mullen . “I’ve worked with Chris for many years, both at previous law firms and as a business partner, and know that he will make an immediate impact here and for our clients and cyber insurance partners.”
Mullen Coughlin Managing Member, Jennifer A. Coughlin , adds, “Chris is recognized by all in the market as having unmatched legal and forensic investigatory experience, and we are excited for him to utilize this experience to further solidify the Firm’s established reputation as the go-to law firm for data privacy and incident response legal counsel, consistently delivering on the needs of the cyber insurance industry.”
Mullen Coughlin has managed over 25,000 data privacy and security incidents on behalf of organizations of all sizes, across all industry sectors and from all geographic locations. Mullen Coughlin has over 120 experienced attorneys solely dedicated to providing bespoke counsel relating to pre-incident Advisory Compliance  services and solutions; data privacy and security incident response ; regulatory investigation ; and security and privacy litigation  defense. For more information, please visit www.mullen.law .

View original content:https://www.prnewswire.co.uk/news-releases/mullen-coughlin-llc-adds-dfir-professional-chris-ballod-to-incident-response-team-302144257.html

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QorusDocs’ New AI-Powered Solution, QPilot, Transforms RFP and Proposal Development

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May 14, 2024

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Specialized, private and secure AI features return immediate ROI to professional services firms
BELLEVUE, Wash., May 14, 2024 /PRNewswire/ — QorusDocs, an AI-powered proposal management software provider, today announced QorusDocs’ QPilot, a new secure and private AI service that exponentially simplifies the task of crafting pitches, proposals and RFP responses for professional services firms.

Core Features Ensure Security, Privacy and Immediate ROI
QorusDocs’ QPilot AI service, built on the Microsoft Azure OpenAI Service, offers unparalleled security and privacy for firm’s private content libraries, past RFPs, proposals and internal content.
QPilot gives users access to pre-built and customizable prompts that make it indispensable for professional services teams, who frequently work with biographies, credentials and project records in volume, and need to craft compelling written and visual presentations.
By allowing secure, targeted access to a firm’s sensitive documents and content, QPilot produces advantages for proposal creators not found in other generative AI software. This allows business development teams to focus on high-value client engagement, instead of mundane tasks.
QorusDocs AI Assistant, QPilot, brings the following benefits to users:
Accelerates research, personalization, and creation of tailored content Streamlines workflows directed towards high-value, winnable bids Integrates seamlessly with Microsoft 365 apps for ease of use “We developed QorusDocs’ QPilot as part of our continued focus on expanding our AI footprint to help service-based businesses revolutionize their proposal process,” said Ray Meiring, CEO and co-founder of QorusDocs. “During our testing phase, we verified common use cases for professional services teams and gathered feedback to ensure the first version of QorusDocs’ AI Assistant, QPilot, returns immediate time to value to our customers.”
The Verdict is in: Customers Love QorusDocs’ QPilot 
“QorusDocs’ AI platform has brought significant efficiency gains to TRC’s proposal process”, explained Dr. Stephen R. Galati, Vice President, Strategic Proposals, TRC Companies, Inc. “Before QorusDocs’ QPilot, we would spend time searching for information and refining it into proposals. Now, with QorusDocs’ QPilot, we’ve experienced notable productivity gains, specifically planning, resource, writing, collaboration and time efficiencies, allowing our team to focus on the technical content rather than stylistic elements. QorusDocs’ seamless integration with Microsoft 365 apps provides fast access to information and gives us a strong level of confidence in data security.” 
Customer and Analyst Acclaim 
Known for its compelling platform, QorusDocs has received top honors by SoftwareReviews in its research analysis. In April 2024, QorusDocs was ranked #1 in product performance and Champion in Emotional Sentiment in the Proposal Management category.
In line with its existing platform, QorusDocs’ QPilot has already earned high praise from customers and analysts who have used the preview version, with 100% of users reporting productivity increases. 
“Generative AI is creating exponential opportunities across the professional services industry, shared Robert Garmaise, Vice President of Artificial Intelligence Research at Info-Tech Research Group. QorusDocs is both a leader and chief catalyst in this transformation, as they streamline critical sales deliverables such as pitches, proposals and RFP responses. QorusDocs is a no-brainer for any professional services partner looking to maximize their reach while minimizing non-billable time.”
QorusDocs’ AI Assistant, QPilot will be available on June 5, 2024.
To see how QorusDocs’ QPilot can transform your proposal processes, visit QorusDocs AI Assistant | QPilot.
ABOUT QORUSDOCS QorusDocs, based in Bellevue, Wash., is a leader in AI-powered proposal management and RFP response software that automates the creation of personalized pitches, presentations, proposals, and RFP responses. QorusDocs empowers business development, sales, marketing, and proposal teams to collaborate seamlessly, optimizing billable hours and increasing client wins. The company supports enterprise revenue teams from companies like WSP, CDW, DLA Piper, Baker McKenzie, Insight and more. 
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View original content:https://www.prnewswire.co.uk/news-releases/qorusdocs-new-ai-powered-solution-qpilot-transforms-rfp-and-proposal-development-302144247.html

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