Artificial Intelligence
EY reports global revenues of US$37.2b in 2020
EY today announces combined global revenues of US$37.2b for the financial year ended June 2020, an increase of 4.1% in local currency despite the global economic impact caused by COVID-19. Over the past seven years, the global EY organization (EY) has recorded strong 7.7% compound annual growth.
Carmine Di Sibio, EY Global Chairman and CEO, says:
“The COVID-19 pandemic has affected people, businesses and communities everywhere, creating new challenges for us all. During this difficult period, our number one priority has been the safety of EY people, clients and communities.
“It is the determination and focus of EY people that enabled us to support EY clients around the world during this unprecedented time. In a matter of weeks, we had nearly 300,000 EY people working remotely and supporting EY clients’ business continuity and resilience needs. EY people also created a wide range of pandemic-related solutions for clients and provided pro-bono support to communities and governments. These efforts illustrate the strength of our culture, founded on our purpose to build a better working world.
“While the last few months have been challenging for everyone, we have remained focused on our NextWave strategy, which we initiated last October and affirms our ambition to build long-term value for all stakeholders. Now more than ever, we need to be absolutely focused on investing in EY people and services to help EY clients transform, innovate and address their most pressing issues for the long-term.”
The EY NextWave strategy and ambition: building long-term value for all stakeholders
Launched in FY20, the NextWave strategy expands on the EY purpose of building a better working world and has a clear ambition to create long-term value for all stakeholders. The elements of the NextWave strategy will be measured using the EY long-term value framework, which is built on four value dimensions: human/people value; consumer/client value; social value; and financial value.
EY continues to play an active role in supporting the wider move to long-term value creation. In FY20, it contributed to a collaborative effort convened by The World Economic Forum’s International Business Council (IBC), which brought together 120 CEOs of the world’s largest companies, to agree on a core set of metrics to help standardize disclosures around Environmental, Social and Governance factors and long-term value creation. The proposed disclosures consider a company’s impact along four pillars aligned with the UN’s Sustainable Development Goals (UN SDGs): planet, people, prosperity and principles of governance. Those core metrics are available in the Global Review 2020, published today.
As part of the NextWave strategy and to meet increasing C-suite strategy, transformation and technology needs, EY has introduced two redefined service lines on 1 July.
- Strategy and Transactions (formerly Transaction Advisory Services) has an expanded strategy consulting offering, integrating EY-Parthenon with the former Transaction Advisory Services business and strategy capabilities moved from elsewhere in EY. Upon relaunch, EY-Parthenon immediately became the world’s fifth largest strategy organization by revenue, and the new service line will focus on helping EY clients transform and execute their strategy to optimize the value of their organization and realize their potential.
- Consulting (formerly Advisory) helps EY clients transform and thrive in a market of accelerating, complex change based on three value drivers: humans at the center, technology at speed and innovation at scale. It counts on a unique ecosystem of solutions, technologies and alliances to help companies realize their transformational needs. As part of this new redefined service line, EY is significantly accelerating the expansion of Technology Consulting services through organic hiring and acquisitions.
To accelerate the digital transformation of the global organization, for FY21 there are plans to invest US$1.5b in audit quality, technology solutions, people and the wider EY ecosystem of strategic alliances. The investments will see further build out of the client technology platform which underpins EY services and enables the global organization to drive client service innovation and deliver projects across EY at scale and speed. This proprietary platform has 1m client users in addition to nearly 300,000 EY people in over 150 countries, with upwards of 500m business transactions processed per day. EY is already a top global user of cloud technology, with 80% of EY business-critical platforms hosted on cloud technology across 160 countries. The investments will prioritize four key areas:
- High-quality audits: Serving the public interest through the delivery of high-quality audits globally is a key EY priority. EY continues to build on investments of US$700m made in audit innovation and quality since 2015 through its global Sustainable Audit Quality (SAQ) program. SAQ is focused on initiatives including tone at the top, exceptional teams, accountability, technology, innovation and quality support. Priorities include EY Canvas, the global cloud-based audit technology platform which today supports 145,000 EY audit engagements in 134 countries using a single global methodology. Innovations include the auditing of crypto transactions with the EY Blockchain Analyzer and the use of AI and natural language processing to analyze business documents and contracts more efficiently via EY Document Intelligence.
- New and emerging technology: As EY has continued to use global cloud-based platforms to drive quality delivery and business solutions, EY is now a top 10 user of Azure Cloud in the world. During the COVID-19 pandemic, EY saw high demand for managed services as EY clients sought alternative ways to manage new risks, reduce costs and maintain business continuity. EY will continue to focus on AI, machine learning, predictive analytics and other disruptive technologies. Its use of these technologies is improving the quality and speed of services in assurance, tax and transactions.
- People: EY has an internal ecosystem of more than 44,000 technologists and 22,000 data scientists which it will continue to develop, advancing the digital skills of EY people and continuing recruitment in areas such as data science and digital architecture. As COVID-19 took hold, demand for virtual learning at EY increased by 40%. Today, it operates one of the largest globally integrated learning platforms on SAP’s SuccessFactors, where in FY20 EY people invested 16m hours in learning, of which more than half was virtual. It has also announced the EY Tech MBA by Hult International Business School, becoming the first organization to offer an entirely virtual MBA for free to all people irrespective of rank, location or prior qualifications. This builds on the success of the digital credentials program known as EY Badges, which has exceeded 70,000 since the launch in 2017.
- Ecosystems: Investments will help EY extend the range of digital offerings and client services through a diversified, connected and intelligent ecosystem of strategic alliances and a global innovation network. For instance, EY introduced 38 COVID-19 related solutions with 11 alliance parties to rapidly meet needs brought on by the pandemic in areas like crisis management, telehealth, case reporting and more. In FY20, EY continued to build on its alliance relationships, including expanded alliances with IBM and Procter & Gamble, to cover a range of services for start-ups through to large, complex projects. In total there were seven new alliances in FY20, including new agreements with PROS, Splunk and LeaseAccelerator, expanding the organization’s access to professional skills and capabilities in digital, cybersecurity and digital and lease accounting. FY20 also saw 18 acquisitions in areas like cyber security, strategy, change management, design and technology, including SAP digital transformation.
Andy Baldwin, EY Global Managing Partner – Client Service, says:
“At a time when businesses are being challenged to evolve, we are focused on providing innovative, high-quality services and solutions to help EY clients reframe their future. The large-scale investments we will make in FY21 will ultimately help EY clients succeed in this complex environment and bring further trust and confidence to the capital markets through high-quality audits.”
Growth across all services lines, geographies, key industries and markets in FY20
In FY20, all EY service lines delivered growth: Assurance grew 3.1%; Advisory 4.9%; Tax 5.1% and Transaction Advisory Services 2.8%, all in local currency. Revenue also increased across all three EY geographic areas: the Americas 3.4%; Europe, Middle East, India and Africa (EMEIA) 3.4%; and Asia-Pacific 8.2%.
Among the top five markets, Japan led with double-digit growth of 10.8% and Greater China delivered another strong year. Elsewhere, Australia, Brazil, Korea and Norway delivered strong growth. Emerging markets also continued their strong growth trend and are up by 6%. EY also recorded strong growth across the Technology, Consumer, Private Equity and Wealth & Asset Management sectors, driven largely by demand for digital and tech-enabled services.
As the COVID-19 pandemic’s effects impacted governments and businesses, EY teams reacted quickly to provide vital business continuity and resilience services, including:
- Assisting the Government of Chile with the setting up of digital triage tools to screen patients prior to entry in emergency rooms.
- Helping Australian Government agencies transition employees to remote working quickly during the pandemic while enabling new service delivery.
- Supporting the Canadian Government’s supply of personal protective equipment (PPE) for frontline services at a time when more than 60 countries halted exports of PPE.
- Developing a Paycheck Protection Program Loan Forgiveness Platform so banks can efficiently meet the unique requirements under the US CARES Act.
- Assisting numerous banking clients with loan origination and underwriting surge resources during a period of unprecedented demand.
Service-line investments and growth
- Assurance: Through continued investments in digital technology and global methodologies, the cornerstone of the EY organization achieved growth of 3.1% in FY20. The EY Sustainable Audit Quality program and the implementation of digital audit technologies continue to drive the delivery of high-quality audits that enhance trust in business and support long-term value creation. New audit engagements include Daiwa House Industry, Farmers Insurance Group, Jyske Bank, Kone, Nestlé and Eastman Kodak. To date the EY Digital Audit has analyzed 582b lines of client data, which brings the total to over a trillion in the past three years.
- Advisory: Through the EY solutions, technologies and ecosystem of alliances, in FY20 the service line focused on helping companies realize their digital transformation needs. Its newly created Technology Consulting service, which offers technology transformation, data and analytics, digital and emerging technology and cybersecurity services and solutions, was able to support EY client transformation and resilience needs. In FY20, it received several prestigious awards from Gartner, Forrester, IDC, ALM Intelligence and HFS Research.
- Tax: In FY20, business demand for co-sourcing and managed tax services, delivered by the EY Tax and Finance Operate solution and a growing number of other EY Tax managed services offerings, including Legal Managed Services, powered revenue growth. Additionally, it also saw demand for financial tax planning, global compliance and reporting, indirect tax and global trade. In FY20, EY launched TaxChat™, the first direct-to-consumer tax service to tackle complex individual tax filings associated with self-employment and investment portfolio changes. It also introduced a Physical Return and Work Reimagined framework to support businesses during COVID-19 and it also expanded the alliances with Microsoft, SAP, Thomson Reuters and WorldAware.
- Transaction Advisory Services: Despite a challenging geopolitical and business climate in FY20, EY advised on six of the top ten deals globally and supported numerous governments, hospitals, life sciences and financial institutions responding to the COVID-19 pandemic. The stellar growth of EY-Parthenon has helped it become the world’s fifth-largest strategy organization by combined revenue and headcount in more than 120 countries. The acquisition of Port Jackson Partners in Australia in FY20 further expands this leading-class strategy consulting offering.
An outstanding people culture
Overall, headcount increased by 5.3% to 298,965 people globally. Despite the disruption from COVID-19, EY continued its long-standing commitment to internships in FY20, with half of the 15,000 internships taking place on a remote basis.
In FY20, 600 people were promoted to partner and reflected key priorities: with 39% of the promoted partners within Assurance, 37% from emerging markets and women representing 33%. Further senior investments in priorities areas were made through an additional 462 new partners who were directly admitted into EY member firms. The EY Global Executive, the most senior body in EY, is one-third women and the 18 leaders are from nine countries, including four based in emerging markets. Demonstrating the ongoing commitment to diversity and inclusion, the EY Global Executive signed the EY Global Executive Diversity & Inclusion Statement and established a Global Social Equity Task Force.
EY continues to be recognized on prestigious lists for its outstanding people culture. It remains the world’s most attractive professional services employer in Universum’s annual “World’s Most Attractive Employer” ranking, and second overall behind Google. In the US, EY was recognized in Fortune’s “100 Best Companies to Work For®” annual list for a record 21-consecutive years.
Building a better working world
In FY20, EY set the ambitious goal of positively affecting 1b lives by 2030 through its EY Ripples corporate responsibility program. More than 1m people will be mobilized globally to drive long-term change by working with impact entrepreneurs, supporting the next generation and accelerating environmental sustainability. In FY20 more than 15.5m lives were positively affected, bringing the total to more than 34m to date.
In FY20, there were investments of a total of US$126m in projects dedicated to strengthening its communities and its people contributed 790k hours of time to a variety of initiatives and value-in-kind projects. EY people have also used their skills and knowledge to help combat COVID-19 challenges via a range of pro bono and voluntary work, including:
- EY teams helped the South African Government design and implement the Solidarity Fund to raise more than US$180m in funds from businesses to support the national health response to COVID-19.
- A crowdfunding campaign using blockchain helped to raise €100,000 in donations for Italian hospitals and a fundraising platform for EY people fund PPE for front-line healthcare professionals in Greater China.
- Grants and collaboration with NGOs in India to help provide India’s migrant and casual workers and their families with food and educational support.
At Davos, EY pledged to become carbon-neutral by the end of calendar year 2020 and appointed Steve Varley to the new position of EY Global Vice Chair — Sustainability, with a focus on helping EY and its clients achieve their sustainability goals. EY is on track to meet its carbon commitment and will continue to take action to create sustainable, inclusive growth for future generations.
In the Global Review 2020, EY today reports for the first time on its progress integrating the United Nations Global Compact (UNGC) Ten Principles and the UN SDGs into EY strategy, culture and operations. As part of its commitment to long-term value creation, EY continues to report on a broad range of financial and non-financial metrics in its Global Review.
Artificial Intelligence
More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024
Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.
The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
“Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases.
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
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Artificial Intelligence
J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit
In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.
In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation.
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.”
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.
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Artificial Intelligence
Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024
SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.
Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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