Oracle CloudWorld — To help organizations increase the efficiency of global supply chains, Oracle is introducing new logistics capabilities within Oracle Fusion Cloud Supply Chain & Manufacturing (SCM). The updates to Oracle Transportation Management and Oracle Global Trade Management, part of Oracle Cloud SCM, will help customers optimize logistics operations by increasing visibility, reducing costs, automating regulatory compliance, and improving decision-making.
Organizations are facing significant supply chain challenges – from component shortages to disrupted shipping routes, ever-changing global trade agreements, and volatile customer demand. To quickly adapt their supply chains to the changing global business environment, logistics professionals need agile and efficient processes that can help them successfully navigate regulatory compliance, reduce the likelihood of trade bottlenecks, and mitigate the impact of on-going shipping disruptions.
“The last few years tested the resiliency of global logistics operations and many organizations have struggled to adapt and insulate their business from ongoing disruptions,” said Srini Rajagopal, vice president of logistics product strategy, Oracle. “With Oracle Cloud SCM, organizations can seamlessly manage transportation, global trade, and distribution processes. This helps them improve the speed and accuracy of operations, optimize service levels, address compliance, and mitigate the impact of supply chain disruptions.”
The new capabilities within Oracle Transportation Management and Oracle Global Trade Management include:
Expanded Business Intelligence Capabilities: Enables customers to combine transportation and trade data with other operational data in Oracle Fusion Data Intelligence. The augmented data helps organizations improve decision-making and global logistics performance by providing a holistic, real-time view of the business.
Enhanced Logistics Network Modeling: Helps logistics managers to model different scenarios and compare different scheduling options for drivers. The enhanced Logistics Network Modeling capabilities help organizations quickly evaluate schedules, improve assignment decisions, and optimize fleet performance.
New Trade Incentive Program: Enables customers to simultaneously automate support for multiple country-specific trade programs. Automating trade documentation helps organizations reduce manual processes, improve the accuracy and efficiency of trade program participation, and reduce duty and tax costs.
Updated Oracle Transportation Management Mobile App: Support for third-party transportation service providers and fleet-managed drivers enables app users to bid on spot market shipments, capture shipment actuals, and launch maps. The added functionality and high configurability of the app helps improve the efficiency of logistics operations by providing users with a more intuitive and personalized experience.
Improved Workbenches: Help logistics managers quickly and easily create highly configurable workbenches that provide a single view of operations. New workbench personalization and data visualization features help organizations increase productivity and improve business decisions.
“As a global business with offices in 143 countries and territories, we are continuously striving to improve visibility of global trade agreements and centrally manage cross-border business processes,” said Gisele Belotto, Principal, Tax, International Tax – Trade and Customs, KPMG. “Using many of our own tools, as well as those of our alliance partners, we’ve been able to optimize our global trade processes and trade agreement qualification to increase efficiency, lower costs, improve controls, and reduce risk across our operations.”
“With Oracle, we have been able to increase productivity and reduce time to process freight expenses significantly,” said Satish Sharma, president APMEA, Apollo Tyres. “Oracle Transportation Management has helped expand our supply chain visibility and eliminated multiple rounds of audit checks and clerical work related to its freight settlement and auditing processes. The company has experienced a big jump in efficiency and reduced the number of errors.”
Oracle Cloud SCM helps organizations seamlessly connect supply chain processes and quickly respond to changing demand, supply, and market conditions. With new features added every quarter, Oracle Cloud SCM helps customers create a resilient supply network and processes that outpace change.
For additional information on Oracle Cloud SCM applications, visit oracle.com/scm.
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Klarna says its AI assistant does the work of 700 people after it laid off 700 people
The Swedish fintech, which was criticized for its handling of a dramatic staff reduction in 2022, is touting new efficiencies powered by OpenAI.
Klarna is bullish on bots.
One month after taking its OpenAI-powered virtual assistant global, the Swedish buy-now, pay-later company has released new data touting its ability to handle customer communications, make shoppers happier, and even drive better financial results.
The app-based AI chatbot already handles two-thirds of all customer service chats, the company said Tuesday—some 2.3 million conversations so far—with the virtual assistant earning customer satisfaction ratings at the same level as human agents. Klarna, which is expected to go public this year and will need all the hype it can get at a time when investors have been generally frosty toward IPOs, estimates that the chatbot could help improve its profits by $40 million in 2024.
Announcing a partnership with OpenAI early last year, Klarna said it was one of the first companies to integrate the firm’s groundbreaking ChatGPT technology into a plug-in for shopping. The natural-language interface initially helped customers choose items and make other shopping-related decisions based on personalized queries, a feature Klarna described as “smooth shopping.”
The company has continued to build out its AI offerings since then. Its app-based assistants are now available to customers worldwide and handle a variety of tasks including refunds, cancellations, and even disputes.
Klarna boasted in its announcement on Tuesday that the AI assistant “is doing the equivalent work of 700 full-time agents.”
That statement may raise eyebrows for anyone who remembers the middle of 2022, when the company laid off roughly the same number of employees, then about 10% of its staff. At the time, CEO Sebastian Siemiatkowski cited economic uncertainty, inflation, and the likelihood of a recession as reasons for the cuts. He was criticized for his handling of the staff reduction after he shared a public spreadsheet on LinkedIn that contained the names of many of the laid-off workers.
Fast Company asked Klarna how the company arrived at its calculation for its AI assistant’s human-equivalent productivity. The company said the number of equivalent jobs the AI could perform wasn’t related to the layoffs. In a statement, a spokesperson said the company’s customer service is supported by four to five large third-parties that collectively have over 650,000 employees, and that it offers customers the option to speak with human agents if that’s what they prefer.
“This is in no way connected to the workforce reductions in May 2022, and making that conclusion would be incorrect,” the statement read. “We chose to share the figure of 700 to indicate the more long-term consequences of AI technology, where we believe it is important to be transparent in order to create an understanding in society. We think [it’s] important to proactively address these issues and encourage a thoughtful discussion around how society can meet and navigate this transformation.”
Companies have used chatbots for years to handle low-level customer queries and other interactions, although these tools are expected to become more versatile in the wake of advancements in artificial intellegence.
Source: Fast Company
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ASTRI fully supports Budget to invest in the future
The Hong Kong Applied Science and Technology Research Institute (ASTRI) welcomes the Financial Secretary’s robust and actionable initiatives outlined in the latest Budget, reinforcing Hong Kong’s status as a leading international hub for innovation and technology (I&T). These strategic moves are designed to enhance the city’s appeal for investment and talent, catalysing the growth of I&T ecosystem with a focus on fostering a green future and advancing digitalisation, injecting fresh impetus into Hong Kong’s high-quality development.
ASTRI is at the forefront with a cache of mature innovative technologies, ranging from AI, Blockchain, Cybersecurity, Digital Twins, Eco-Tech, FinTech and Micro-electronics, that are ready for commercialisation and adoption. These technologies are poised to expedite the green and digital transformation of local businesses, and support Hong Kong to develop as an international green financial centre and establish a highly efficient data ecosystem.
Realise I&T commercialisation
Ir Sunny Lee, Chairman, ASTRI, expressed gratitude for HKSAR Government’s unwavering support towards innovation and technology, bringing new partners and investments for the sector. ASTRI is committed to collaborating with the government, and developing more applied technologies that positively impact the business and society, with a focus on commercialisation and industrialisation for the greater good.
He added that the I&T sector is actively engaged in the national development plan, seizing “Greater Bay Area” (GBA) and “Belt and Road” (B&R) opportunities, and promoting high-quality development with a focus on technological advancement and green sector. “With ASTRI’s newly-opened office in Shenzhen Futian District, we will further promote GBA companies to adopt Hong Kong-invented innovative technologies to upgrade and transform. With the advanced Hong Kong platform, we aim at helping technologies developed in the region to go global, tapping into B&R countries and beyond.”
Focus on Fintech and Green Tech
Dr Denis Yip, Chief Executive Officer, ASTRI said he is pleased that more resources will be allocated on supporting I&T sector, building I&T ecosystem and strengthening collaboration among government, industry, academia and research institutes, investing the future together. “Technology and finance are the twin engines for the city’s economic development. ASTRI-develop fintech and green tech would revolutionalise traditional industries, and promote the development of new sector such as digital assets, bringing new opportunities for I&T companies and new areas of growth.”
Dr Yip stressed that apart from promoting green finance and digitisation, ASTRI is also committed to the development of the whole I&T ecosystem. He added that three alliances have been set up in the past year, namely, Microelectronics Technology Consortium, Smart Mobility Technology (C-V2X) Alliance and Fintech and ESG Alliance. The fourth one on ConTech and PropTech is on the way, facilitating knowledge transfer and technology innovation. ASTRI will also facilitate industrial transformation and economic growth through I&T. Looking ahead, ASTRI will continue incubating new blood through various talent programmes, expanding the I&T talent pool in the city.
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Natural Personal Care Ingredients Market worth $7.9 billion by 2028 – Exclusive Report by MarketsandMarkets™
The report “Natural Personal Care Ingredients Market by Type (Emollients, Surfactnats, Rheology Modifiers, Preservatives, Active Ingredients), Application (Skin Care, Hair Care, Make-up, Oral Care), and Region – Global Forecast to 2028″, Natural Personal Care Ingredients Market size was USD 5.3 billion in 2022 and is projected to reach USD 7.9 billion by 2028, at a CAGR of 8.3%, between 2023 and 2028.
The market is projected to grow because of the evolving lifestyle across globe. These natural Ingredients play a crucial role in various skin care, hair care, oral care, make-up, and other applications such as foundations, serums, shampoos, bath soaps, shower gels, creams, face masks, sun care products, lip balms, lipsticks, color cosmetics and others. In addition, due to the increasing population, increasing demand for natural ingredients, technological advancements and changing consumer preferences the demand for natural personal care ingredients can increase due to various applications.
Browse in-depth TOC on “Natural Cosmetics Ingredients Market”
198 – Tables
68 – Figures
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“Surfactants are projected to register the highest CAGR, in terms of value, of the global natural personal care ingredients market during the forecast period.”
Surfactants are expected to grow rapidly in the natural personal care ingredients market due to increased demand for sustainable products in cosmetics and personal care, as well as their use in pharmaceuticals. They function as surface-active agents, meaning they help reduce surface tension between different substances, allowing them to mix more effectively. Therefore, surfactants are crucial in skincare, haircare, and cosmetics like creams and lotions. Also, the rising awareness of natural ingredients in personal care boosts the demand for natural surfactants. Thus, surfactants are widely used in applications such as skin care, hair care, make-up, oral care, and others, which will increase demand for them in the future.
“The hair care is estimated to be the second-largest application of natural personal care ingredients market, in terms of value, during the forecast period.”
As individuals tackle with a different hair-related issues, ranging from hair loss and thinning to dryness and damage, the demand for effective solutions continues to rise. Combined by the diverse array of hair types, each with its unique needs, such as curly, straight, fine, or coarse, the market for tailored hair care products grows rapidly. Moreover, escalating levels of pollution, characterized by airborne toxins and particulate matter, further exacerbate hair woes, triggering issues like scalp irritation, dullness, and accelerated hair aging. Consequently, the hair care application within the natural personal care ingredients market stands composed for sustained growth, driven by the imperative for complete solutions that address these multifaceted challenges while prioritizing natural and sustainable ingredients.
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“Europe is estimated to be the largest market for the natural personal care ingredients market, in terms of value, during the forecast period.”
The adoption of natural personal care ingredients in this region has increased due to changing environment, concerns about increasing health hazards linked to synthetic ingredients, and shift in lifestyle preferences towards eco-conscious and sustainable products. Moreover, The European region is estimated to be the second-fastest growing regions in the world, with rising disposable incomes. This is creating a favourable environment for the growth of the natural personal care ingredients market. Accordingly, Europe will be the largest market for natural personal care ingredients market during the forecast period.
The key players profiled in the report include BASF SE (Germany), Croda International Plc (UK), Ashland Inc. (US), The Lubrizol Corporation (US), Evonik Industries AG (Germany), Dow Inc. (US), Symrise AG (Germany), and others.
Browse Adjacent Market: Specialty Chemicals Market Research Reports & Consulting
Green Preservatives Market – GLOBAL FORECAST TO 2028
Biosurfactants Market – GLOBAL FORECAST TO 2028
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