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Fosun together with Alipay Release Vouchers Worth RMB1.5 Billion to Help Stimulate Consumption of May 5 Shopping Festival

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The term “rebound in consumption” went viral on the Internet and in newspapers at the beginning of 2023. According to data, China’s retail sales of consumer goods grew by 5.8% year-on-year in the first quarter of 2023, and consumer spending contributed to 66.6% of China’s economic growth, regaining its position as the major driver of China’s economic growth. The May Day holiday is expected to further boost the consumer market.

Consumption boom boosts the local economies which have further launched various favorable measures to stimulate nationwide consumption. Zhu Min, Director of the Shanghai Municipal Commission of Commerce, recently said that the upcoming 4th “May 5 Shopping Festival” in Shanghai will feature no less than 300 new shopping venues and activities that integrate commerce, tourism, culture, sports and exhibitions to provide consumers with a brand-new consumption experience. The 515 Fosun Family Day, a significant part of the “May 5 Shopping Festival” this year, will be heavily linked with the festival to help continuous release of potential consumption.

The Shanghai Nightlife Festival with the theme of “Shanghai at night, it’s not too late to meet each other”, one of the key activities of the “May 5 Shopping Festival”, will be launched at the Bund Financial Center in Huangpu District on June 3. The Night Market will be held at BFC Weekend Market. Shanghai Watch and other classic brands of Fosun Family will be rolling out during the “May 5 Shopping Festival”. In addition, a series of activities at the Yuyuan Garden will bring the visitors immersive art experiences.

On April 28, Fosun announced that it would collaborate with Alipay, a subsidiary of Ant Group, to fully connect with Alipay’s open digital ecology and carry out digital operations that cover the entire online and offline chain, ranging from digital payment and membership services to applets and live streaming. Fosun will distribute consumption vouchers worth a total of over RMB1.5 billion via Alipay to help boost the spending of the May 5 Shopping Festival through a combination of online and offline scenarios.

Consumption vouchers worth over RMB1.5 billion to boost spending

Being a representative enterprise of the civilian economy rooted in Shanghai, Fosun has always been dedicated to contributing “Fosun Power” to the economic growth of Shanghai. The 515 Fosun Family Day this year, with the theme of “I want my Fosun-style life”, will collaborate with more than 60 famous brands at home and abroad, as well as four core business districts – Yuyuan, Bund Financial Center, Shanghai Vitality City, and Ningbo Fuyue City, to distribute consumption vouchers worth more than RMB1.5 billion for the first time together with the Internet platform Alipay. The vouchers, covering travel, health, dining, fashion, beauty and other living consumption scenarios, will be given out to consumers and bring them benefits in all aspects of life. Digital intelligence will also be used to link online and offline scenarios, better benefiting individuals and businesses and boosting the consumer market.

It is understood that the vouchers will be distributed in four stages. From May 1 to May 14, a limited quantity of high value vouchers will be distributed on time every day; on May 15, searching on Alipay for 515 Fosun Family Day, ten thousand 51.5% off vouchers will be distributed; from May 16 to May 23, featuring hot categories, vouchers for various categories will be distributed every day; from May 24 to June 20, focusing on in-store experience, various benefits ranging from Fosun Family free afternoon tea to Yuyuan parent child camp will be offered.

Non-stop activities to fully release consumption vitality

The 515 Fosun Family Day is the largest annual event for Fosun and its affiliated brands to give back to customers. The event debuted in 2020 and is now in the fifth year. To fully release consumption vitality, a series of activities under 515 Fosun Family Day this year will run from May 1 to June 20, covering more than 240 essential items in the Fosun ecological supply chain, of which roughly 100 items are newly introduced for the occasion. There will be wonderful activities keep going on. It is reported that time-honored and innovative brands of Yuyuan including Laomiao and Yayi will participate in the 515 Family Day activities by launch new products and hot items.

The “Random Happiness Gate” activity, which allows participants to “travel” in a single second to the ideal slow life of Lijiang, see the underwater scenery of Atlantis in Sanya, and discover happiness together with hundreds of millions of families, will be launched at the 515 Fosun Family Day as a festival focused on “family”.

Additionally, 515 Family Day this year and Fosun Foundation in Shanghai will jointly introduce the “Lijiang Simple Holiday Life Festival” live streaming charity event on May 1 and May 2. Live streaming hosts will bring the participants to “a bazaar”. The charity bazaar gathers 90 types of agricultural byproducts with characteristics from 15 counties under the Rural Doctor Program in YunnanSichuanGuizhouHainanJiangxi, and other provinces to deeply promote the rural products with characteristics. This event not only connects with charity but also enables participants throughout the nation to take in the relaxing ambiance via live streaming.

“Family is the foundation of all good things and the source of happiness. As a global innovation-driven consumer group, Fosun focuses on the needs of household customers and hopes to take 515 Fosun Family Day as an opportunity to reach out to customers, bringing happiness to hundreds of millions of families.” said Xu Xiaoliang, Co-CEO of Fosun International. Fosun will keep on innovation and creation, fulfill its mission of “creating happier lives for families worldwide” through its high-quality products and caring services.

SOURCE Fosun

Artificial Intelligence

LambdaTest launches LambdaTest extension for GitHub Copilot to make test automation pervasive across SDLC and drive developer productivity

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NOIDA, India and SAN FRANCISCO, May 22, 2024 /PRNewswire/ — LambdaTest extension for GitHub Copilot enables AI-powered bridge experiences by seamlessly integrating test and dev workflow. It acts as a test automation copilot, assisting developers with quality assurance capabilities across different stages in SDLC, right where they code.

May 22, 2024, Noida/San Francisco: LambdaTest, a leading cloud-based unified testing platform, announced the launch of the LambdaTest extension for GitHub Copilot. This innovative capability revolutionizes the way developers manage and execute test workflows within their integrated development environments (IDEs).
The LambdaTest extension seamlessly integrates with GitHub Copilot Chat bridging the gap between development and testing workflows. Developers can now trigger test execution directly from their GitHub and VS Code environment, eliminating the need to switch between multiple applications. This streamlined process enhances productivity and accelerates software delivery.
With LambdaTest extension, developers can initiate tests effortlessly with a simple command, bringing testing closer to their code. This capability not only saves time but also enhances collaboration among development and testing teams by providing a unified platform for managing quality software releases, faster.
Moreover, real-time feedback integrated into GitHub Copilot empowers developers to iterate more efficiently, at speed, ensuring the quality and stability of their codebase. By conveniently viewing regression run results within their coding environment, developers and testers can quickly identify and address potential issues or bugs, facilitating faster resolution and delivery of high-quality software.
“LambdaTest Extension for GitHub Copilot is a huge milestone in our commitment to enable devs and QA processionals worldwide with frictionless experiences to accelerate software delivery.,” said Mohit Juneja, VP, Strategic Sales and Partnerships, LambdaTest. “Gone are the days of switching between multiple applications; now, developers can design, trigger, and analyze tests with simple prompts in natural language, without switching context from the IDE.”
The benefits of the LambdaTest extension extend beyond just test execution. It also offers powerful analysis tools, allowing developers to dive deep into test data, identify trends, and make data-driven decisions to continuously improve code quality and stability.
LambdaTest remains committed to driving innovation in the field of software testing, and this capability is another testament to that commitment. By providing developers and testers with tools to streamline processes and deliver high-quality software efficiently, LambdaTest continues to support and empower software development teams worldwide.
The LambdaTest extension for GitHub Copilot is now available for developers and testers. To learn more and get started, visit https://github.blog/2024-05-21-introducing-github-copilot-extensions
About LambdaTest LambdaTest is an intelligent and omnichannel enterprise execution environment that helps businesses drastically reduce time to market through Just in Time Test Orchestration (JITTO), ensuring quality releases and accelerated digital transformation. Over 10,000+ enterprise customers and 2+ million users across 130+ countries rely on LambdaTest for their testing needs.
Browser & App Testing Cloud allows users to run both manual and automated tests of web and mobile apps across 3000+ different browsers, real devices, and operating system environments.HyperExecute helps customers run and orchestrate test grids in the cloud for any framework and programming language at blazing-fast speeds to cut down on quality test time, helping developers build software faster.For more information, please visit, https://lambdatest.com
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DeepL announces $300 million investment at $2 billion valuation fueled by global demand for AI language solutions

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Index Ventures led heavily oversubscribed round with participation from late-stage investment firms ICONIQ Growth, Teachers’ Venture Growth, and more Rapid enterprise adoption of DeepL has fueled the company’s growth in 60+ global markets for 100,000+ businesses, governments, and other organizationsDeepL’s Language AI Platform for business provides category-leading AI-powered translation and writing solutions COLOGNE, Germany, May 22, 2024 /PRNewswire/ — DeepL, a leading Language AI company, today announced $300 million of investment at a $2 billion valuation. Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world. Additional late-stage investors, including ICONIQ Growth, Teachers’ Venture Growth, and others, also participated, along with existing investors IVP, Atomico, and WiL.

“We’re approaching an inflection point in the AI boom where businesses who are racing to adopt the technology begin to discern between hype versus solutions that are secure and actually solve real problems in their business,” said Jarek Kutylowski, founder and CEO of DeepL. “This new investment comes during what is on track to be DeepL’s most transformative year yet and is a testament to the crucial role that our Language AI platform has in solving the complex linguistic challenges global companies face today. We’re highly focused on continued growth and innovation to expand our solutions and ensure they remain industry-leading in terms of quality, precision, and security. This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”
The new investment comes during a period of significant growth and momentum for DeepL, which has amassed a customer network of 100,000+ businesses, governments, and other organizations worldwide. This network includes Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on its highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings. In response to surging demand from global enterprises, DeepL has accelerated its expansion efforts and strategic investments into key markets over the past year. In January 2024, DeepL deepened its commitment to the U.S.—now its third largest market—by opening its first office in the region. The company continues to expand its team in the U.S. to support growing demand.
Within the last 12 months, DeepL has also substantially broadened its product offerings tailored for businesses. In April 2024, the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.
“DeepL’s runaway success is a bit of an ‘open secret’ in the business community,” said Danny Rimer, who led the investment from Index Ventures. “The company is exceptionally thoughtful about creating cutting-edge AI products that deliver real and immediate value to their customers. Jarek and the rest of the DeepL team are equally research and commercially minded – both of which are key to the company’s success.” Index Ventures is recognized for its investments in highly successful SaaS businesses like Figma, Slack, Wiz, and Scale AI.
Demand for AI solutions among global enterprises is on the rise. A recent IBM study found that 42% are already actively deploying AI and 40% are exploring its potential. Within this rapidly evolving landscape, DeepL is leading the way in applying AI to transform the $67.9 billion language industry, which is projected to grow to $95.3 billion by 2028.
Since its inception in 2017, DeepL has become the Language AI provider of choice for businesses across multiple industries including manufacturing, legal, retail, healthcare, technology, and professional services. The company’s specialized Language AI platform has become a critical investment for global businesses today, addressing a variety of communication challenges ranging from internal communications to customer support and international market expansion. Unlike general-purpose AI systems, DeepL’s cutting-edge translation and writing solutions rely on specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases and a reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.
DeepL’s Language AI platform is also proven to drive significant cost savings and efficiencies. A 2024 Forrester study revealed that the use of DeepL delivered 345% ROI for global companies, reducing translation time by 90% and driving a 50% in workload reduction, underscoring, in our opinion, the power of its platform for businesses looking to grow their revenue and enter new markets faster and at scale.
“At Zendesk we see first hand the power of infusing AI tools into customer experience, and DeepL’s industry-leading translation is a prime example,” said Adrian McDermott, CTO, Zendesk. “The ability to have accurate AI translation allows companies from startups to large enterprises the ability to scale globally, reaching prospects and existing customers in new ways. Zendesk’s open and flexible platform allows for seamless partnerships, and the tangible results we’ve seen so far from joint customers have us looking forward to continued work with DeepL.”
Looking ahead, DeepL will continue to invest in research and product innovation to strengthen its suite of leading AI communication tools for businesses. The company is also doubling down on global market expansion and talent recruitment across multiple areas including AI research, product, engineering, and GTM.
 
About DeepLDeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses, governments and other organizations and millions of individuals in 63 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP and Index Ventures.
Contact:Sebastian RiesOpeners [email protected]+49 1578 058 8488
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Hyundai Motor and Plus Announce Collaboration to Demonstrate First Level 4 Autonomous Fuel Cell Electric Truck in the U.S.

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Hyundai Motor and Plus collaboration aims to enhance road safety and freight efficiencies by demonstrating benefits of XCIENT Fuel Cell truck equipped with Plus’s Level 4 autonomous driving softwareHyundai Motor’s Class 8 XCIENT Fuel Cell truck featuring Plus’s Level 4 SuperDrive™ system is on display at the Plus ACT Expo booth (#2044)LAS VEGAS and SEOUL, South Korea, May 22, 2024 /PRNewswire/ — Hyundai Motor Company (Hyundai Motor) and autonomous driving software leader Plus today unveiled the first Level 4 autonomous Class 8 hydrogen fuel cell electric truck in the U.S. at the Advanced Clean Transportation (ACT) Expo, the largest advanced clean transportation technology and fleet event in North America.

A result of the collaboration between Hyundai Motor and Plus, Hyundai Motor’s XCIENT Fuel Cell truck, equipped with Plus SuperDrive™ Level 4 autonomous driving technology, is on display at the Plus ACT Expo booth (#2044).
The Level 4 autonomous XCIENT Fuel Cell truck is undergoing initial autonomous driving assessments in the U.S., making it the first-ever Level 4 self-driving test on a Class 8 fuel cell electric truck to take place in the country. The collaboration seeks to show that autonomous hydrogen fuel cell trucks can help make trucking safer, more efficient, and more sustainable.
“We are excited to showcase our collaboration with Plus to test Level 4 autonomous driving technology with our Class 8 XCIENT Fuel Cell truck,” said Martin Zeilinger, Executive Vice President and Head of Commercial Vehicle Development at Hyundai. “Hyundai Motor has been driving the energy transition paradigm with our advanced fuel cell technologies. By adding autonomous capabilities to our world’s first mass-produced hydrogen-powered XCIENT Fuel Cell truck, Hyundai is looking forward to providing fleets and vehicle operators additional solutions that enhance road safety and freight efficiencies thanks to Plus’s industry-leading autonomous driving technology.”
First introduced in 2020, Hyundai Motor’s XCIENT Fuel Cell truck has conducted commercial operations in eight countries worldwide, establishing a successful track record of real-world applications and technological reliability.
At last year’s ACT Expo, Hyundai introduced XCIENT Fuel Cell tractor, the commercialized Class 8 6×4 fuel cell electric model, powered by two 90kW hydrogen fuel cell systems and a 350kW e-motor, providing a driving range of over 450 miles per charge even when fully loaded.
Plus’s SuperDrive™ solution is being deployed across the U.S., Europe, and Australia. The system uses a combination of cutting-edge sensors, including LiDAR, radar and cameras, to provide surround perception, planning, prediction and self-driving capabilities.
“We are thrilled to collaborate with Hyundai Motor Company on this important initiative to create more sustainable and safe transportation options. A decarbonized future with autonomous hydrogen fuel cell electric trucks that also improve safety and efficiency is one that Plus is proud to support with our cutting-edge autonomous driving technology,” said Shawn Kerrigan, COO and Co-Founder at Plus.
Hyundai Motor and Plus have released a video highlighting their collaboration, which can be seen here: https://www.youtube.com/watch?v=_d19h_v7abo.  
About Hyundai Motor Company
More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
About Plus
For more information, visit http://www.plus.ai/.
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