Huawei Releases 2022 Annual Report: Steady Operations, Sustainable Survival and Development

 SHENZHEN, China - Friday, 31. March 2023 AETOSWire Print 

(BUSINESS WIRE) -- Huawei released its 2022 Annual Report today. The company reports steady operations throughout 2022, having generated CNY642.3 billion in revenue and CNY35.6 billion in net profits. Huawei continues to strengthen investment in R&D, with an annual expenditure of CNY161.5 billion in 2022, representing 25.1% of the company's annual revenue and bringing its total R&D expenditure over the past 10 years to more than CNY977.3 billion.

"In 2022, a challenging external environment and non-market factors continued to take a toll on Huawei's operations", said Eric Xu, Huawei's Rotating Chairman, at the company's annual report press conference. "In the midst of this storm, we kept racing ahead, doing everything in our power to maintain business continuity and serve our customers. We also went to great lengths to grow the harvest – generating a steady stream of revenue to sustain our survival and lay the groundwork for future development."

Also present at the event was Sabrina Meng, Huawei's CFO. She noted, "Despite substantial pressure in 2022, our overall business results were in line with forecast. At the end of 2022, our liability ratio was 58.9% and our net cash balance was CNY176.3 billion. In addition, our balance of total assets reached one trillion yuan, largely composed of current assets such as cash, short-term investments, and operating assets. Our financial position remains solid, with strong resilience and flexibility. In 2022, our total R&D spend was CNY161.5 billion, representing 25.1% of our total revenue – among the highest in Huawei's history. In times of pressure, we press on – with confidence."

In 2022, revenue from Huawei's carrier, enterprise, and consumer businesses was CNY284 billion, CNY133.2 billion, and CNY214.5 billion, respectively.

Huawei is a strong proponent of growing together with its ecosystem partners, and believes that openness and collaboration lead to shared success. The company has continued to open up its platform capabilities across its HarmonyOS, Kunpeng, Ascend, and cloud portfolio, focusing on improving developer experience as well as enabling and supporting its ecosystem partners on all fronts. Huawei currently works with more than nine million developers and over 40,000 ecosystem partners to fuel ecosystem-based innovation and create greater value for its customers.

"2023 will be crucial to Huawei's sustainable survival and development," Xu noted. "Plum blossoms tend to grow sweeter from a harsh winter's freeze. Today, Huawei is like a plum blossom. While it's true that we have considerable pressure ahead of us, we have what it takes to come out the other end – with opportunities to grow, a resilient business portfolio, a unique competitive edge, the enduring trust of our customers and partners, and the courage to invest heavily in R&D. We are confident in our ability to rise above any challenge that comes our way, laying a solid foundation for sustainable survival and development."

All financial statements in the 2022 Annual Report were independently audited by KPMG, an international Big Four accounting firm. To download the 2022 Annual Report, please visit https://www.huawei.com/en/annual-report/2022

Note: The 2022 closing exchange rate is US$1.00 = CNY6.9533

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230331005166/en/

Permalink

https://www.aetoswire.com/en/news/3103202331443

Contacts

corporate.comms@huawei.com

 

Spring 2023 Maxon One Release Adds Extraordinary Value

BAD HOMBURG, Germany - Friday, 31. March 2023

Enhancements across the entire product line including Cinema 4D, Redshift, Red Giant, ZBrush, Forger and more highlight this massive update

(BUSINESS WIRE) -- Maxon, developers of professional software solutions for editors, filmmakers, motion designers, visual effects artists and creators of all types, announced today a comprehensive update to Maxon One. Maxon’s Spring 2023 release offers exciting new features and workflow enhancements across the entire product line that will empower designers and artists to turn their creative ideas into reality with stunning results. Cinema 4D 2023.2 offers an improved Commander, enhancements to its Nodes system, simulation improvements and a new Thicken generator for modeling. Updates to the Red Giant toolset feature new tools and augmentations; most notably the introduction of Symbol Mapper for Universe 2023.1, anamorphic lens support for Real Lens Flares for VFX 2023.3, and Trapcode 2023.3 includes performance optimizations for Particular and a new collection of Atomic Age sprites. Redshift 3.5.14 brings a fantastic new Sky and Sun Model, a new Flakes Shader and new Camera Backplates. The latest release of ZBrush is highlighted by two new revolutionary workflow tools: Proxy Pose and Drop 3D. Forger updates include new features for lighting and previews, and the integration of ZBrush’s powerful ZRemesher. The latest additions to Capsules include new material collections, a new dynamic Swirl Modifier and a new Redshift Shaderball. Rounding out this exciting release is an update to Cineware, focused on Unreal 5.0 and 5.1 integration.

“This highly anticipated release delivers on our promise to regularly come out with new cutting-edge features and enhancements across the entire Maxon One product line,” says David McGavran, Maxon CEO. “With this release, our community can expect improved performance, enhanced workflows, advanced tools for animation, rendering, sculpting and much more. By equipping artists of all levels with industry-leading tools, we aim to empower our community to create stunning visual content like never before.”

All updates are immediately available to subscribers via Maxon App and the Maxon Website.

About Maxon

Maxon makes powerful, yet approachable software solutions for content creators working in 2D and 3D design, motion graphics, visual effects and visualization. Maxon’s innovative product portfolio helps artists supercharge their creative workflows. Our product lines include the award-winning Cinema 4D suite of 3D modeling, simulation and animation technology; the creativity-on-the-go Forger mobile sculpting app; the diverse Red Giant lineup of revolutionary editing, motion design and filmmaking tools; the leading-edge, blazingly fast Redshift renderer; and ZBrush, the industry-standard digital sculpting and painting solution.

Maxon’s team is comprised of fun, passionate people who believe in building and empowering a successful artistic community. From our popular, inclusive events to our free Cineversity educational resources, Maxon recognizes that developing strong connections with creatives and fostering their professional growth is integral to our ability to stay on top of industry trends and better serve customers.

Maxon is part of the Nemetschek Group.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005119/en/

Permalink

https://www.aetoswire.com/en/news/3103202331446

Contacts

Press

Chloe Larby

Grithaus Agency

(e) chloe@grithaus.agency

(p) +44 7454 012045

NetApp’s 2023 Cloud Complexity Report Highlights the Shifting Demands of a Multicloud Environment

 Key findings indicate that 98% of technology leaders have been impacted by the increasing complexity of the cloud, bringing issues of cybersecurity and cost optimization to the forefront

(BUSINESS WIRE) -- NetApp® (NASDAQ: NTAP), a global, cloud-led, data-centric software company, today released the 2023 Cloud Complexity Report, a global survey exploring how technology decision makers are navigating cloud requirements coming from digital transformation and AI initiatives and the complexity of multicloud environments. The report found that 98% of senior IT leaders have been impacted by increasing cloud complexity in some capacity, potentially leading to poor IT performance, loss in revenue and barriers to business growth.

“Our global research report highlights paradigm shifts in how technology leaders look at and manage their cloud initiatives,” said Ronen Schwartz, Senior Vice President and General Manager, Cloud Storage, NetApp. “As cloud adoption accelerates and businesses innovate faster to compete, technology leaders are facing growing pressure to juggle multiple priorities at once – causing many to rethink how they manage efficiency and security in this new environment.”

“Our global survey data demonstrates the extreme complexity of modern IT environments, and the pressure technology executives are under to show measurable outcomes from cloud investments,” said Gabie Boko, Chief Marketing Officer, NetApp. “At NetApp, we've simplified the complex through our approach, which enables technology executives to increase the speed of innovation, lower costs and improve consistency, flexibility and agility across on-premises and cloud environments.”

Key findings from the report include:

Cloud Complexity Reaches a Tipping Point

Data complexity has reached a boiling point for companies globally, and tech executives are feeling the pressure to contain its impact on the business. However, technical and organizational challenges may stunt their cloud strategies, with 88% citing working across cloud environments as a barrier, while 32% struggle just to align on a clear vision at the leadership level.

Global Context: The following regions list this as their top concern if data complexity is not managed:

Cybersecurity: France, Spain, and Australia/New Zealand

Leadership skepticism: France, Spain, Japan

Inefficient use across the organization: Australia/New Zealand

Lack of visibility: Japan

Leadership Want Cloud Results Now

Sustainability has become an unexpected cloud-driver, with nearly eight in ten tech executives citing ESG outcomes as critical to their cloud strategy. However, return on investment (ROI) is a concern among leadership, with 84% of tech executives saying their cloud strategy is already expected to show results across the organization.

Global Context:

Nearly half of tech executives (49%) report that when cloud strategy discussions happen, cost concerns come up often or all the time.

Data regulation and compliance is another cloud driver, with various local regulations promoting their multicloud strategy most or some of the time.

Tech Executives Consider AI as a Possible Solution

In the next year, over a third (37%) of tech executives report that half or more of their cloud deployments will be supported by AI-driven applications. Nearly half of tech executives at smaller companies – those with fewer than 250 employees – expect to reach the 50% mark in the next year, and 63% by 2030, while larger companies lag.

Global Context:

The U.S. leads EMEA and APAC on plans to deploy AI-driven cloud applications in the next year, with France and Japan as outliers in their regions.

Scaling AI is the top priority in EMEA and APAC, but is second in the U.S., behind meeting regulatory compliance.

“NetApp’s global research report reveals a disconnect between the executives outside of IT and those within - specifically, leaders working to execute on cloud are the ones most ingrained in the cost and complexity issues while those outside of IT have yet to fully understand. In the process of shifting to the cloud, leaders are experiencing challenges, leaving room for vendors to address these current or yet-to-be discovered issues,” said Randy Kerns, Senior Strategist & Analyst at the Evaluator Group. “As customers express concerns with cloud implementation, vendors have the opportunity to build and offer solutions to simplify the process.”

As organizations increasingly move to multi-cloud environments, NetApp aims to alleviate efficiency bottlenecks by allowing IT leaders to manage their systems on one, streamlined user interface. By taking an evolved cloud approach, NetApp is leading the charge for next generation cloud management and storage – equipping teams with the tools necessary to stay abreast of the key trends outlined in the research report above (e.g., optimizing costs, assessing risks, and operating sustainably).

To learn more and access the full report and infographic, visit 2023 Cloud Complexity Report.

Methodology

NetApp partnered with Wakefield Research to conduct a quantitative research study during November 2022, among 1,300 tech and data executives at businesses in 9 markets: US, EMEA (France, Germany, Spain, the UK), and APAC (India, Japan, Singapore, and Australia/New Zealand). At the time of completion, all participants held positions that were classified as “director-level and above” and worked across IT, IT infrastructure, cloud infrastructure and data engineering departments.

About NetApp

NetApp is a global, cloud-led, data-centric software company that empowers organizations to lead with data in the age of accelerated digital transformation. The company provides systems, software and cloud services that enable them to run their applications optimally from data center to cloud, whether they are developing in the cloud, moving to the cloud, or creating their own cloudlike experiences on premises. With solutions that perform across diverse environments, NetApp helps organizations build their own data fabric and securely deliver the right data, services, and applications to the right people—anytime, anywhere. Learn more at www.netapp.com or follow us on Twitter, LinkedIn, Facebook, and Instagram.

NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005156/en/

Permalink

https://aetoswire.com/en/news/3103202331447

Contacts

Media Contact:

Kenya Hayes

NetApp

kenya.hayes@netapp.com

Investor Contact:

Kris Newton

NetApp

kris.newton@netapp.com

Thales pioneers Post Quantum Cryptography with a successful world-first pilot on phone calls

 PARIS LA DÉFENSE - Friday, 31. March 2023 AETOSWire Print 

Thales, leader in advanced technologies, successfully experimented end-to-end encrypted phone calls, tested to be resilient in the Post Quantum era.

The pilot was performed with the Thales ‘Cryptosmart’ secure mobile app and 5G SIM cards installed in today's commercial smartphones, testing a mobile-to-mobile call, voice/data encryption, and user authentication.

Any data exchanged during the call is set to be resistant to Post Quantum attacks thanks to a hybrid cryptography approach, combining pre-quantum and post-quantum defence mechanisms.

 

(BUSINESS WIRE)--Thales, as a worldwide cybersecurity leader, has created the first real-world application of Post Quantum Cryptography (PQC) in its flagship secure ‘Cryptosmart’ mobile app, leveraging 5G SIM for PQC. In the pilot, hybrid cryptography (pre and post quantum crypto) was used in a phone call between two devices to protect the information exchanged during the call. Thales has invested and tested post-quantum cybersecurity technologies over the last decade in order to prepare for these emerging threats.

Even if today's quantum computer1 prototypes are still far from posing a threat to public key cryptography, it is critical to begin investigating resilient solutions. For example, there is a variant of "store now, decrypt later" attacks that consists in storing today's exchanged data and messages in order to decrypt these messages once Quantum Computers are available. This means the majority of digital infrastructure security based on public key cryptography (PKC) may already be vulnerable to a quantum attack.

Such threats are relevant for scenarios involving highly sensitive information, such as classified information exchanged over an encrypted phone call. To address these threats, Thales created a proof of concept to test the scalability and quality of its solutions, which range from 5G SIM cards to secure communication software.

This first real-world quantum protected mobile solution, which combines Thales' 'Cryptosmart' application and its 5G SIM, employs hybrid cryptography, as recommended by the NIST (National Institute of Standards and Technology). ‘CRYSTALS-Kyber’, one of the four algorithms selected by the NIST2, is the PQC algorithm natively implemented in the 5G SIM and used by Cryptosmart application to encrypt the communication.

“Building defences against threats that do not yet exist may appear to be a daunting task. That is exactly the prospect that the global cybersecurity community faces with the impending arrival of quantum computing. The post-quantum era is still years away, but as quantum computing becomes more prevalent, practicing crypto agility now with such pilots and trials are helping Thales and its customers get prepared” said Philippe KERYER, Executive Vice President Strategy & Technology at Thales.

1 Computers that can perform certain tasks much faster than today's computers on a large scale.

2https://www.nist.gov/news-events/news/2022/07/nist-announces-first-four-quantum-resistant-cryptographic-algorithms

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and “deep tech” innovations — connectivity, big data, artificial intelligence, cybersecurity and quantum computing — to build a future we can all trust, which is vital to the development of our societies.

The company provides solutions, services and products that help its customers —businesses, organisations and states — in the defence, aeronautics, space, transportation and digital identity and security markets to fulfil their critical missions, by placing humans at the heart of the decision-making process.

Thales has 81,000 employees in 68 countries. In 2021, the Group generated sales of €16.2 billion.

PLEASE VISIT

Thales Digital Identity & Security

Thales unveils three quantum technologies set to revolutionise the world of tomorrow | Thales Group

Business Data Protection and Cybersecurity | Ercom

Permalink

https://www.aetoswire.com/en/news/3103202331439

Contacts

PRESS CONTACT

Thales, Media Relations

Digital Identity and Security

Vanessa Viala

+33 (0)6 07 34 00 34

Thermo Fisher Scientific and Arsenal Biosciences Collaborate to Support Clinical Manufacturing of Autologous T-Cell Therapies

 CARLSBAD, Calif. - Friday, 31. March 2023

(BUSINESS WIRE)--Thermo Fisher Scientific, the world leader in serving science, and Arsenal Biosciences, Inc. (ArsenalBio), a clinical-stage cell therapy company engineering advanced chimeric antigen receptor (CAR)-T cell therapies for solid tumors, today announced an update to our strategic collaboration to further the development of manufacturing processes for new cancer treatments. This research and process development-focused collaboration has enabled ArsenalBio to develop a robust manufacturing process for their next-generation, programmable autologous T cells for the treatment of cancer.

ArsenalBio recently advanced its lead product candidate into clinical manufacturing of its autologous integrated circuit T cell (ICT) therapy for platinum-resistant ovarian cancer. ArsenalBio’s work to develop multi-functional CAR-T cell therapies is enabled by Thermo Fisher’s Cell Therapy Systems (CTS) portfolio of products, including the Gibco™ CTS™ Xenon™ Electroporation System and the Gibco™ CTS™ Rotea™ Counterflow Centrifugation System.

“Our programmable cell therapy technology holds the potential to help patients with aggressive and complex cancers who currently have few treatment options,” said Ken Drazan, M.D., co-founder and chief executive officer, ArsenalBio. “To bring the promise of this technology to patients we’ll need to execute at speed and scale as we transition to clinical development. Our relationship with Thermo Fisher allows us to combine their fit-for-purpose solutions and internal expertise with our team’s innovative approach to clinical research and process development capabilities to manufacture ArsenalBio’s products and explore future therapeutic innovation.”

Thermo Fisher began its collaboration with ArsenalBio in 2020 to help ArsenalBio overcome challenges associated with cell therapy manufacturing by working together to support development of a clinical-scale gene editing process. In addition, ArsenalBio received early access to Thermo Fisher’s latest instrumentation and reagents.

“By collaborating with ArsenalBio as they pioneer a new approach to treat solid tumors using engineered T cell therapies, we’re helping bring more options to those who are most in need of innovative treatments,” said Betty Woo, vice president of cell, gene and advanced therapies, Thermo Fisher. “Through our Cell Therapy Collaboration Program, we are enabling the industry shift from reactive to proactive, applying our biological and technical expertise to improve the economics of therapy production, and moving toward expanded access to patients worldwide.”

Thermo Fisher’s CTS portfolio of products are cGMP manufactured, designed to meet applicable cell therapy standards, and include traceability and regulatory documentation to help customers transition from research to clinical production.

For more information about Thermo Fisher’s cell therapy collaboration partnership program, please visit thermofisher.com/collabcenterpartnership.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005043/en/

Permalink

https://www.aetoswire.com/en/news/3103202331437

Contacts

Media:

Kristin Blake

Thermo Fisher Scientific

Phone: 760-637-1166

Email: kristin.blake@thermofisher.com

Allianz Appoints Leadership for Allianz Commercial Key Markets

 MUNICH - Friday, 31. March 2023

• Allianz Commercial leaders confirmed for Australia, France, Germany and the United Kingdom
• Each leader serves as one face to the market in each country, covering the full Commercial segment for both mid-sized and large companies
• Clients and distribution partners to benefit from more consistent interface and broader set of solutions under the new global model

(BUSINESS WIRE) -- As part of the implementation of its ‘Integrated Commercial’ strategy to better serve the full Commercial segment, Allianz Group today announced the leadership for four of its largest Property and Casualty Commercial insurance markets: Australia, France, Germany and the United Kingdom. In each country, the appointed single Commercial lead will represent the integrated Allianz Commercial business and bring to the market Allianz’s full set of solutions for specialty clients, large corporates, and mid-sized companies, simplifying and enhancing the experience of clients and distribution partners.

“The appointment of the regional leaders in our core Allianz Commercial markets is an important, concrete step toward realizing our new integrated model, which brings together our Mid Corporate and Large Corporate insurance business for the benefit of our clients and distribution partners,” said Chris Townsend, Member of the Allianz SE Board of Management.

Townsend added, “As one face to the market, these leaders will represent the full Allianz offering to companies across the entire commercial spectrum and will drive the effective local delivery of our global capabilities.”

Australia: The Allianz Commercial business in Australia will be led by Phuong Ly as Chief General Manager Allianz Commercial, reporting to Richard Feledy, Managing Director of Allianz Australia in conjunction with Joachim Mueller, CEO of Allianz Global Corporate & Specialty (AGCS). For more information, please click here.

France: The Allianz Commercial business in France will be led by Patrick Thiels as Country Managing Director for Allianz Commercial with Frédéric Baccelli as Deputy Country Managing Director for Allianz Commercial. Thiels will report to AGCS CEO Joachim Mueller and to Fabien Wathlé, CEO of Allianz France. For more information, please click here.

Germany: The Allianz Commercial business in Germany will be led by Hans-Joerg Mauthe as Commercial Managing Director, reporting to AGCS Chief Regions and Markets Officer Henning Haagen and to Ulrich Stephan, Board Member of Allianz Versicherungs-AG. For more information, please click here.

United Kingdom: The Allianz Commercial business in the United Kingdom will be led by Nadia Côté as Commercial Managing Director, subject to regulatory approval. She is reporting to AGCS CEO Joachim Mueller and to Colm Holmes, CEO Allianz Holdings UK. For more information, click here.

The appointment of additional Allianz Commercial regional leaders in other markets globally will follow in due course.

Allianz previously announced on March 10, 2023 that it will serve the global commercial insurance segment as one go-to-market business, using the new trading name of Allianz Commercial, combining its AGCS business serving large corporate and specialty clients together with the insurance businesses of Allianz’s operating entities serving mid-sized country-based accounts. Joachim Mueller will lead Allianz Commercial as part of his responsibilities as CEO of AGCS SE.

About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with more than 122 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 683 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.6 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2022, over 159,000 employees achieved total revenues of 152.7 billion euros and an operating profit of 14.2 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

* Including non-consolidated entities with Allianz customers.

** As of Dec 31, 2022

Cautionary note regarding forward-looking statements
This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.

Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz’s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation with respect to the Allianz Group, other well-known companies and the financial services industry generally, (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency exchange rates, most notably the EUR/USD exchange rate, (x) changes in laws and regulations, including tax regulations, (xi) the impact of acquisitions including and related integration issues and reorganization measures, and (xii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

No duty to update
Allianz assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.

Privacy Note
Allianz SE is committed to protecting your personal data. Find out more in our privacy statement.

Chairman of the Supervisory Board: Michael Diekmann.
Board of Management: Oliver Bäte, Chairman. Dr. Sirma Boshnakova, Dr. Barbara Karuth-Zelle, Dr. Klaus-Peter Röhler, Giulio Terzariol, Dr. Günther Thallinger, Christopher Townsend, Renate Wagner, Dr. Andreas Wimmer
(Release / Stand 01.2023). For VAT-Purposes: VAT-Registration Number: DE 129 274 114; Insurance services are exempt from VAT. Allianz SE, Munich, Comm.Reg.: Munich HRB 164232

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230331005262/en/



Permalink
https://www.aetoswire.com/en/news/3103202331451


Contacts
Group Communications
Lauren Day
Phone +49 89 3800 3345
e-mail: lauren.day@allianz.com

Allianz Global Corporate & Specialty
Hugo Kidston
Phone +44 203 451 3891
e-mail: hugo.kidston@allianz.com

Heidi Polke
Phone +4989 3800 14303
e-mail: heidi.polke@allianz.com

KnowBe4 Finds State and Local Governments Struggle to Defend Against Ransomware and Business Email Compromise

 TAMPA BAY, Fla. - Friday, 31. March 2023 AETOSWire Print 

KnowBe4 releases The Economic Impact of Cyber Attacks on Municipalities report and finds sectors struggle to defend themselves against cyber attacks due to lack of support

(BUSINESS WIRE) -- KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, released a new report showing the continued impact cyber crime is having on state and local governments entitled “The Economic Impact of Cyber Attacks on Municipalities”.

KnowBe4’s report details the financial costs, reputational effects, level of public trust and other impact cyber attacks have on municipalities. The report breaks down the impact cyber attacks have into five target areas: the average financial loss from state and local governments, the denial of service to citizens due to financial loss, the frequency/types of attacks and the risk of recurring attacks, the challenge of allocating capital to prevent attacks and the decline of economic investment in municipalities.

Additionally, the new reports revealed ransomware continues to plague municipalities in all industry sectors. Business email compromise (BEC) attacks were also proven to be one of the most lucrative forms of cyber attacks in 2022, generating billions of dollars lost across all sectors and increasing across all sectors by 175%, with an 81% surge in 2022. State and local governments are particularly vulnerable to these attacks due to government transparency laws which allow cyber criminals to more easily tailor their attack to the victim.

Key findings from the report include:

Many municipality cybersecurity budgets are underfunded or do not exist at all. According to the National Association of State Chief Information Officers (NASCIO), most state cybersecurity budgets are between 0% and 3% of their overall IT budget. Additionally, only 18 states have a cybersecurity budget line-item and only 16% of states reported a budget increase of 10% or greater since 2018.

The 2022 IC3 Report reveals that in 2022, BEC attacks generated a total of $2,742,354,049 in losses across sectors, an increase of $346 million from 2021, and $875 million from 2020.

There are 1.7 million ransomware attacks every day, which means 19 ransomware attacks every second. Cybersecurity Ventures predicts that by 2031, ransomware will cost victims $265 billion annually, and it will attack a business, consumer or device every 2 seconds.

Ransomware attacks on state and local governments last an average of 7.3 days. Down time alone generates an average loss of $64,645.

In addition to state and local governments, educational institutions are also prime targets and victims of cyber attacks. In 2022, ransomware impacted nearly double the amount of universities and colleges than it did in 2021. Moody’s, which began tracking school districts in 2018, reports that the rates at which school districts are targeted has increased “exponentially”.

“Despite the many statistics and reports that detail the devastating losses caused from ransomware, business email compromise and other cyber attacks, many municipalities still find themselves underprepared for these threats,” said Stu Sjouwerman, CEO, KnowBe4. “Regardless of budget or size, the best way for all industry sectors to defend themselves against the threat of cyber attacks is to educate employees with new-school security awareness training and learn to develop a healthy skepticism of messages from even known contacts. Major municipality targets such as local and state governments and education and healthcare institutions are the backbone of civil service and society. Trained employees are essential to support IT teams, strengthen security culture and create a human firewall as the last line of defense to protect industries across the board, especially the municipality sectors we rely on everyday.”

To download The Economic Impact of Cyber Attacks on Municipalities report, visit https://www.knowbe4.com/hubfs/Economic-Impact-of-Cyber-Attacks-on-Municipalities.pdf.

To download KnowBe4’s Ransomware Hostage Rescue Manual, visit https://info.knowbe4.com/ransomware-hostage-rescue-manual-0.

About KnowBe4

KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, is used by more than 56,000 organizations around the globe. Founded by IT and data security specialist Stu Sjouwerman, KnowBe4 helps organizations address the human element of security by raising awareness about ransomware, CEO fraud and other social engineering tactics through a new-school approach to awareness training on security. Kevin Mitnick, an internationally recognized cybersecurity specialist and KnowBe4's Chief Hacking Officer, helped design the KnowBe4 training based on his well-documented social engineering tactics. Tens of thousands of organizations rely on KnowBe4 to mobilize their end users as their last line of defense.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005253/en/

Permalink

https://www.aetoswire.com/en/news/3003202331428

Contacts

Kathy Wattman

Public Relations

PR@KnowBe4.com

(727) 474-9950

LambdaTest Upgrades its Playwright Automation Testing Experience With the Addition of its AI-Powered Integrated Test Intelligence

 Given Playwright’s increasing popularity, this addition would enable better decision-making for digital businesses

(BUSINESS WIRE) -- LambdaTest, an intelligent omnichannel digital experience testing cloud platform, has announced the addition of advanced AI-powered test intelligence features to its Playwright testing cloud offering. With this latest development, LambdaTest will now enable enterprises with deeper insights into their test execution process and help them better streamline their quality assurance process.

LambdaTest has been constantly working on enhancing its Playwright automation testing cloud and the test intelligence feature is the latest addition to the list. Over the last quarter, LambdaTest has added features like support for browser extension testing, IP-based Geolocation testing, and Playwright component testing. Customers can soon test on Android real devices using Playwright as well.

“Test intelligence is at the core of digital transformation in enterprises. Given Playwright’s increasing usage across the business world, we are excited to provide our customers with a deeper and more intuitive view of their testing, enabling them to identify issues faster and optimize their testing processes,” said Mayank Bhola, Co-Founder and Head of Product, LambdaTest. “We are constantly working on upgrading our automation offerings to suit the growing testing needs of this digital age and very soon, customers using our Playwright automation cloud will be able to test on Android-based real devices. You can expect a lot more feature releases in the near future. Our aim is to ensure that we do the test execution heavy lifting with our enterprise testing platform so that our users can concentrate on other tasks.”

LambdaTest has also announced the launch of its digital experience testing cloud for enterprises. The offering will enable enterprises to accelerate their digital transformation by providing a best-in-class, 360-degree test execution and orchestration platform coupled with insightful test analytics and customizable deployment options–Public cloud, single tenant, or on-premise.

Also, Satya Nadella, Chairman & CEO of Microsoft, who recently delivered the keynote address at the Microsoft Future Ready Technology Summit 2023, Bengaluru, said that “LambdaTest is doing for test automation what Kubernetes did for container orchestration - creating that next level of efficiency around test automation so that people can actually focus on testing versus test orchestration.”

For more details, visit: https://www.lambdatest.com/playwright-testing

About LambdaTest

LambdaTest is an intelligent unified digital experience testing cloud that helps businesses drastically reduce time to market through faster test execution, 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.

Continuous Testing Cloud

LambdaTest's Continuous Testing Cloud allows enterprises to rapidly test and deploy changes to their web and mobile applications up to 70% faster, which helps to accelerate the development process and improve time-to-market.

Cross-browser Testing Cloud

Our cross-browser testing cloud allows users to test their websites and web applications on a wide variety of browsers, operating systems, and devices. With features such as real-time testing, responsive design testing, and debugging tools, it enables developers to ensure that their websites and web apps are compatible with different browsers, thereby providing a seamless user experience.

Real Device Cloud

With real device cloud, testers/developers can catch bugs early before their mobile apps go live. With LambdaTest's Real Devices Testing Cloud, teams can test unhandled errors, UI/UX, performance, and functionality of their apps before they get released into production. The teams can also test on the widest range of mobile and OTT devices (iOS, Android, iPad, Amazon Fire TV, Roku TV & Apple TV).

AI-powered Visual Regression Cloud

Ensuring consistent layouts, designs, and functionality of applications is crucial to deliver visually-perfect digital experiences. LambdaTest's visual regression cloud ensures that the visual appearance and functionality of an organization’s web applications remain consistent and error-free, ultimately improving the digital experience and business performance. Teams can get early insights on visual UI bugs before they release their applications to the customer. Testers/developers can run automated visual regression tests on 3000+ combinations of browsers & real devices to identify visual deviations.

AI-powered Integrated Test Intelligence

Test execution insights are critical for digital transformation as they provide enterprises with deeper insight into the quality of releases and trends. By analyzing the test execution data, LambdaTest's integrated test intelligence provides enterprises with insights into patterns and trends that can lead to informed decisions about future development and improve application quality. This can empower development teams with detailed and actionable test execution data and close the gap between data, insight, and action for better and faster decision-making.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005529/en/

Permalink

https://www.aetoswire.com/en/news/3103202331444

Contacts

LambdaTest press office:

press@lambdatest.com

 

ANANDA Scientific Announces First Patient Enrolled in FDA-approved Clinical Trial Evaluating a Potential New Treatment for Social Anxiety Disorder (SAD)

 NEW YORK & GREENWOOD VILLAGE, Colo. 

(BUSINESS WIRE) -- ANANDA Scientific Inc., a research focused bio-pharmaceutical company today announced that the first subject has been enrolled in the clinical trial with an FDA-approved IND evaluating Nantheia™ A1002N5S, an investigational drug using cannabidiol (CBD) in ANANDA’s proprietary Liquid Structure™ delivery technology as a potential treatment for Social Anxiety Disorder (SAD). The National Center for Complimentary and Integrative Health (NCCIH-a division of the NIH) is providing funding for this trial which is being conducted at the NYU Grossman School of Medicine. (Clinical Trials.gov Identifier: NCT05571592)

The trial is being led by Principal Investigators Naomi Simon, MD, MSc., Professor of Psychiatry and Director of Anxiety, Stress and Prolonged Grief Program at the NYU Grossman School of Medicine and Esther Blessing, MD, PhD, Assistant Professor of Psychiatry at NYU Grossman School of Medicine. This double-blind placebo-controlled trial is studying NantheiaTM A1002N5S versus placebo over a 21-day treatment period with the primary outcome measures being the change in Trier Social Stress Test (TSST) induced Anxiety and impact on a neuroimaging biomarker.

“We are very pleased to have this important study underway,” said Dr. Simon. “Our collaboration with ANANDA is helping us complete our NIH funded research study of CBD, which is aimed at developing scientific evidence about its mechanism and clinical effects to support the potential development of CBD as a new evidence-based treatment for Social Anxiety Disorder, a distressing and under-addressed condition.”

Dr. Blessing noted “preclinical results for CBD as a treatment for anxiety disorders show promising results and we look forward to building on these pre-clinical results in this study.”

“Enrolling the first subject in this important trial is another key milestone for ANANDA’s clinical development program,” said Sohail R. Zaidi, ANANDA’s CEO. “We are very pleased to be collaborating with the NYU research team in evaluating our investigational drug Nantheia A1002N5S in an indication with a significant unmet medical need.”

ABOUT NANTHEIA™ A1002N5S

Nantheia™ A1002N5S is an investigational drug that uses cannabidiol in ANANDA’s proprietary Liquid Structure delivery technology. Pre-clinical and initial clinical studies show that ANANDA’s Liquid Structure™ delivery technology (licensed from Lyotropic Delivery Systems (LDS) Ltd in Jerusalem, Israel) enhances the effectiveness and stability of cannabidiol. Nantheia™ A1002N5S is an oral product with 50mg cannabidiol per softgel capsule.

ABOUT ANANDA SCIENTIFIC

ANANDA is a leading research-focused biopharmaceutical company pioneering high-caliber clinical studies evaluating therapeutic indications such as PTSD, Radiculopathic Pain, Anxiety and Opioid Use Disorder (Mt. Sinai and UCLA). The company employs patented delivery technology, (licensed from Lyotropic Delivery Systems (LDS) Ltd, in Jerusalem, Israel) to make cannabinoids and plant derived compounds bioavailable, water soluble, and shelf-life stable and focuses on producing effective, premium quality pharmaceutical products. The company is expanding its research base through multiple sponsored research agreements with universities to diversify its clinical portfolio.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230328005224/en/

Permalink

https://www.aetoswire.com/en/news/2903202331388

Contacts

ANANDA Scientific Media Relations | Christopher Moore | 813 326 4265 | media@anandascientific.com

World’s Major Economies Playing Catch-Up as Widespread Adoption Drives Global Real-Time Payments Growth – ACI Worldwide Report

 MIAMI - Thursday, 30. March 2023 AETOSWire Print 

195.0B real-time payments (RTP) transactions were recorded globally in 2022, a YoY growth of 63.2%, according to the 2023 Prime Time for Real-Time report from ACI Worldwide and GlobalData

India remains the undisputed RTP leader — responsible for 46% of all transactions worldwide — followed by Brazil, China, Thailand and South Korea

Governments and regulators around the world are taking steps to drive adoption of RTPs as a path to economic growth and greater financial inclusion

(BUSINESS WIRE) -- New sophisticated use cases for consumers and businesses are driving global RTP volumes to record highs, with 195.0B RTP transactions recorded globally in 2022 — a YoY growth of 63.2% — according to the 2023 Prime Time for Real-Time report, published by ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, in partnership with GlobalData, a leading data and analytics company.

511.7B real-time transactions globally are forecast by 2027, representing a 2022-2027 compound annual growth rate (CAGR) of 21.3%.

By 2027, RTPs are expected to account for 27.8% of all electronic payments globally.

India remains the undisputed RTP leader, with a staggering 89.5B transactions in 2022 and a YoY growth rate of 76.8%. India accounted for 46% of all global real-time transactions in 2022.

Brazil was the third fastest-growing RTP market in 2022, with a YoY growth of 228.9%, and is in second place in transactions, with 29.2B in 2022, representing 15% of all global real-time transactions.

China, Thailand and South Korea are third, fourth and fifth, respectively, on the list of the top RTP markets, with 17.6B, 16.4B and 8B transactions, respectively, in 2022.

Governments and regulators are taking notice of consumer adoption

With consumers and businesses around the world demanding cheaper, faster and more efficient ways to pay, and merchant acceptance of RTPs on the rise, consumer and business adoption via popular new use cases is heating up. This year’s Prime Time for Real-Time report analyzes RTP transactions per head of population per month for the first time, highlighting where consumers and businesses most actively use RTP:

Bahrain, a country of just 1.5 million people, is forecast to have the highest level of RTP consumer adoption by 2027, with 83.3 RTP transactions per head per month projected.

Consumers in Brazil (#2) and Thailand (#3) are expected to make 51.8 and 43.6 RTP transactions per month, respectively, by 2027.

Four European countries — Netherlands, Sweden, Denmark and Finland — are forecast among the top 10 countries for RTP consumer adoption by 2027.

The U.K., Canada, the U.S., Germany, France and Italy — all top 10 global economies by GDPi — are forecast to place 17th, 19th, 33rd, 34th, 35th and 42nd, respectively, for consumer adoption in 2027.

“This year’s report highlights how consumer and business adoption of real-time payments accelerates when the conditions are right,” said Craig Ramsey, global head of real-time payments and banking, ACI Worldwide. “The countries at the top of our league table — Bahrain, Brazil and Thailand — are all relatively recent enablers of real-time payments. Concerted industry collaboration and government mandates, widespread merchant adoption, strong brand recognition for a scheme, and related services, such as digital wallets, have provided the perfect combination for strong growth in these markets.”

Governments and regulators in other countries are beginning to take notice and have launched initiatives to emulate the success of the most successful RTP markets.

In Europe, the EU Commission has proposed a law mandating RTPs across its 27 member states. The U.K. has embarked on its New Payments Architecture program, which aims to modernize the country’s RTP rails. In the U.S., the Federal Reserve recently announced the launch date for its highly anticipated FedNow service to expand RTP access in the U.S. — a highly significant event in a market where regulators tend to lean toward non-intervention.

“Real-time payments are the future of modern, digital economies. Governments and regulators around the world are beginning to understand this and increasingly see them as a path to drive economic growth and financial inclusion,” said Thomas Warsop, interim president and CEO, ACI Worldwide.

“Real-time payments will help to secure the competitiveness of banks and financial services providers. They remove payments friction, contribute to greater liquidity and ultimately increase customer stickiness. They complement the holistic digital proposition of modern financial institutions.

“Banks should evaluate whether they are truly maximizing existing real-time rails in their market. Ultimately, the extent to which they make real-time payments part of their offering is a strategic decision. It seems increasingly clear, however, that limiting their commitment to the minimum also means limiting their potential share of the future payments market,” Warsop concluded.

Regional Spotlights

North America: July’s U.S. FedNow launch will be a major catalyst for growth

RTP transactions in North America are expected to grow from 3.9B in 2022 to 13B by 2027, a CAGR of 27.3%. While North America currently accounts for just 2% of all RTPs globally, it has the potential to develop into an extremely high-growth region in the future.

As a proportion of electronic payments, RTPs are forecast to be just 5% by 2027 in North America — lower than in all other global regions: Europe (13%), Asia Pacific (APAC – 12%), Middle East, Africa and South Asia (MEASA – 79%) and Latin America (LATAM – 56%).

Consumer adoption, measured as transactions per month per head of population, was low across the region in 2022 — the U.S. and Canada ranked 33rd and 19th, respectively, worldwide.

Mobile wallet adoption is strong and growing fast, with 45% of consumers holding and/or using a mobile wallet in 2022, compared to 38% in 2021 and just 13% in 2018.

Overall fraud rates remain flat, as 28% of consumers reported being a victim of fraud in 2022, compared to 26% in 2021. Social engineering scams and digital wallet account hacks are the only fraud types that grew from 2021 to 2022, speaking both to the increased adoption of digital payments and the corresponding evolution of fraudsters’ tactics.

The launch of FedNow in the U.S. in July 2023 could be a major catalyst for RTP adoption — it will expand RTP access to smaller banks and feature new services, such as Request for Pay, from day one.

Europe: Major change is on the horizon with the new EU RTP mandate

RTP transactions in Europe are expected to grow from 13.2B in 2022 to 34.2B by 2027, with a CAGR of 21%.

Four European countries feature in the global top 10 for consumer adoption for 2027 — Netherlands, Sweden, Finland and Denmark.

Mobile wallets are increasingly popular, with 41% of consumers holding and/or using a mobile wallet in 2022, compared to 31% in 2021 and 12% in 2018.

Overall fraud rates are stagnant or in decline. However, social engineering scams associated with Authorized Push Payment (APP) fraud are on the rise.

Major change is on the horizon. The EU Commission has proposed to mandate RTPs across its 27 member states, whereby banks must offer instant payments at the same cost or lower than standard credit transfers. The proposed law would disrupt the market significantly, as charges of up to EUR 1.50 are common for instant payments at the moment.

LATAM: Top growth market with Brazil the clear leader in adoption and growth

LATAM is one of the top growth regions globally. RTP transactions are expected to grow from 33B in 2022 to 119.5B by 2027, a CAGR of 29.3%.

The region is forecast to have one of the highest proportions of RTPs as a portion of electronic payments by 2027 (56%). Brazil has become a major global player in RTPs and is responsible for 90% of RTP volumes in the region due to the strength of PIX.

Brazil was the world’s second biggest RTP market by volume in 2022.

Brazil is second in global RTP consumer adoption, behind India. The majority of its population has access to the RTP service PIX via mobile, and Brazil is expected to have 52 RTP transactions per head of population per month by 2027.

Mobile wallets have exceeded a critical mass in the region, with 65% of consumers holding and/or using a mobile wallet in 2022, compared to 58% in 2021 and 15% in 2018.

Social engineering scams associated with APP fraud have risen to comprise 27% of reported fraud incidents in LATAM in 2022, up from 16% in 2021. Card details stolen online dropped from 20% to 13% in the same period.

Growing markets to watch in LATAM include Mexico, which for the first time is among the world’s top RTP markets (#9), as well as Peru, Argentina and Colombia, which feature on the list of the world’s top 10 growth markets.

APAC: Leads the world in terms of real-time, cross-border initiatives

APAC is one of the most innovative RTP markets. Advanced, user-friendly services and features such as QR-code payments and mobile-native experiences are driving adoption across the region.

RTP transaction volumes in the region are expected to grow from 49.2B in 2022 to 96.7B by 2027, a CAGR of 14.1%, while APAC’s nations are at different stages of real-time payments implementation

Indonesia is the latest major country in the regions to adopt RTP and is set for rapid real-time payments growth at CAGR of 81.9% between 2022 and 2027.

Most APAC countries have had real-time payments schemes in place for a few years. Projected five-year growth is continuing and accelerating, with CAGR for Malaysia at 19.7%, the Philippines at 18.7%, Singapore at 18.3% and Australia at 16.3%. This robust growth is driven by regular launch of new products by these schemes.

Governments and central banks in the APAC region play a key role in adoption. There has been strong push from the governments of APAC countries especially in Indonesia and Malaysia for RTP adoption which is enabling the industry to adopt digital payments.

Several cross-border RTP integrations are live between APAC countries, and more are in development.

Consumers in APAC are the most avid users of mobile wallets, with eight out of the top 10 countries for mobile wallet adoption in that region.

MEASA: Fastest-growing market globally due to the might of India

MEASA is a huge and diverse RTP market, with India as the world’s undisputed RTP leader, the Middle East as one of the fastest growing regions, and Africa as a key growth market to watch.

The region saw 95.7B RTP transactions in 2022, mainly due to India’s dominant role. RTP transactions are expected to grow to 250B by 2027, a CAGR of 21.2%.

In 2022, 46% of all global RTP transactions originated in India. Volumes reached a new high of 89.5B in 2022, representing 81% of electronic payments in India. They are forecast to grow at a CAGR of 21.3% between 2022 and 2027.

The Middle East is the fastest-growing RTP market globally. RTP transactions are expected to grow from 675M in 2022 to 2.6B by 2027, a CAGR of 30.6%.

Saudi Arabia is currently the biggest RTP market in the Middle East, followed by Bahrain.

Bahrain is the global leader in consumer adoption, forecast to have 84 RTP transactions per head of population per month by 2027.

Governments and regulators in the Middle East are setting new mandates for adoption. Several countries — including U.A.E., Qatar, Kuwait and Oman — are expected to launch domestic RTP schemes soon, with innovative features and overlay services high on the agenda.

Nigeria is one of the top 10 RTP markets globally, and South Africa is Africa’s second biggest market, having launched RTPs in March 2023. This vast and rapidly growing continent is full of opportunity for RTPs, with many African countries planning to develop and launch domestic RTP schemes.

ACI’s Inside Real-Time

This year, we are excited to launch Inside Real-Time — a new, multi-channel media platform — as the definitive guide and go-to source for the world’s RTP stories, including exclusive content exploring the latest developments and opportunities in the world of RTPs and how real‑time is empowering consumers, merchants, businesses and banks. ACI’s Prime Time for Real-Time report is the foundation of this new platform.

About ACI Worldwide

ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.

© Copyright ACI Worldwide, Inc. 2023

ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.

i https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?most_recent_value_desc=true

Photos/Multimedia Gallery Available: https://www.businesswire.com/news/home/53369047/en

Permalink

https://www.aetoswire.com/en/news/3003202331424

Contacts

Media

Nick Karoglou: nick.karoglou@aciworldwide.com

Katrin Boettger: katrin.boettger@aciworldwide.com

+44 (0)7776 147910

In a World First, Yokogawa’s Autonomous Control AI Is Officially Adopted for Use at an ENEOS Materials Chemical Plant

 – One year of stable operation demonstrates this next-generation control technology can decrease environmental impact, achieve stable quality, and transform operations –

(BUSINESS WIRE)--ENEOS Materials Corporation (formerly the elastomers business unit of JSR Corporation) and Yokogawa Electric Corporation (TOKYO: 6841) announce they have reached an agreement that Factorial Kernel Dynamic Policy Programming (FKDPP), a reinforcement learning-based AI algorithm, will be officially adopted for use at an ENEOS Materials chemical plant. This agreement follows a successful field test in which this autonomous control AI*1 demonstrated a high level of performance while controlling a distillation column at this plant for almost an entire year. This is the first example in the world of reinforcement learning AI being formally adopted for direct control of a plant*2.

Over a 35 day (840 hour) consecutive period, from January 17 to February 21, 2022, this field test initially confirmed*3 that the AI solution could control distillation operations that were beyond the capabilities of existing control methods (PID control/APC) and had necessitated manual control of valves based on the judgements of experienced plant personnel. Following a scheduled plant shut-down for maintenance and repairs, the field test resumed and has continued to the present date. It has been conclusively shown that this solution is capable of controlling the complex conditions that are needed to maintain product quality and ensure that liquids in the distillation column remain at an appropriate level, while making maximum possible use of waste heat as a heat source. In so doing it has stabilized quality, achieved high yield, and saved energy.

In this field test, the autonomous control AI demonstrated the following four benefits:

Year-round stability

The autonomous control AI maintained stable control of the liquid levels and maximized the use of waste heat, even in winter and summer weather, with external temperatures changes by about 40ºC. No problems were observed, and stable operation and high product quality was achieved throughout the field test.

Reduced environmental impact

By eliminating the production of off-spec products, the autonomous control AI reduced fuel, labor, and other costs, and made efficient use of raw materials. While producing good quality products that met shipment standards, the autonomous control AI reduced steam consumption and CO2 emissions by 40%*4 in comparison to conventional manual control.

Lightened workload and improved safety

The autonomous control AI eliminated the need for operators to perform manual inputs. This not only decreased workload and helped to prevent human error, it also reduced mental stress levels and improved safety.

Robustness of the AI control model

Even after modifications were made at the plant during a routine shut-down for maintenance and repair, the same AI control model could remain in use.

ENEOS Materials found over the course of this one-year verification process that the autonomous control AI was a robust system that could achieve stable performance and optimize operations throughout the year, including in winter and summer. The company will look into applying this AI to other types of processes and plants, and will continue working to improve productivity and save energy by expanding the scope of autonomization.

To promote plant autonomization, on February 27 Yokogawa launched the provision of an autonomous control AI service for edge controllers*5, also a world first*6. In conjunction with this service, the company is offering customers who wish to achieve autonomous plant operations a global consulting service that covers everything from the identification of control issues to the investigation of optimum control methods and the calculation of cost-effectiveness, and includes safety, implementation, maintenance, and operation.

Going forward, ENEOS Materials and Yokogawa will continue to work together and investigate ways to carry out digital transformation (DX) through the use of AI for control and condition-based maintenance in plants.

Masataka Masutani, Division Director, Production Technology Division, ENEOS Materials Corporation:

“Amidst severe challenges impacting the petrochemical industry such as the retirement of experienced personnel who help to ensure the safe operation of facilities, we are pleased with this demonstration of the use of AI to autonomously control processes that had previously been controlled manually. In addition to reducing operator workload, this test, which has continued for about a year, has demonstrated that this system can operate stably without being affected by seasonal changes or regular maintenance and repairs, and can save energy and reduce GHG emissions. Through smart production, we will continue to strive for safety and stability, decarbonize operations, and enhance competitiveness.”

Takamitsu Matsubara, Professor at the Nara Institute of Science and Technology:

“The key to reinforcement learning is how the reward function is designed. By closely incorporating process industry control knowledge in the reward function, it is possible to create an AI control model with a high level of reliability and validity that is able to achieve year-round stable operation. The fact that this field test confirmed the model’s ability to be applied as is even after the performance of regular maintenance and repair implies the robustness of the AI control model. I believe that FKDPP, a new control technology that can handle complex conditions, will make broad-ranging contributions to the development of industry around the world.”

Kenji Hasegawa, a Yokogawa Vice President and head of the Yokogawa Products Headquarters:

“I am very grateful to have been able to work alongside our customer to take up the challenge of this globally unparalleled autonomization initiative. Given the difficulty of controlling operations in actual plants due to the complex effects of physical and chemical phenomena, there are many areas where highly-experienced operators have still had to intervene. With a focus on products and consulting, Yokogawa will develop and expand the use of autonomous control AI, and work with our customers to drive their decarbonization, digital transformation, and autonomization efforts.”

*1

Yokogawa defines autonomous control AI as AI that deduces the optimum method for control independently and has a high level of robustness enabling it to autonomously handle, to a certain extent, situations that it has not previously encountered.

*2

Based on comprehensive secondary research of publicly available resources by IoT Analytics, performed in March 2023.

*3

In a World First, Yokogawa and JSR Use AI to Autonomously Control a Chemical Plant for 35 Consecutive Days - Putting into practical use a next-generation control technology that takes into account quality, yield, energy saving, and sudden disturbances -

*4

In comparison to the amount of steam previously used to maintain the liquid level and the corresponding amount of CO2 emissions.

*5

Yokogawa Launches Autonomous Control AI Service for Use with Edge Controllers - Optimizes control to improve productivity and save energy -

*6

As the world’s first commercially available reinforcement learning AI service for edge controllers. Based on comprehensive secondary research of publicly available resources by IoT Analytics, performed in March 2023.

About ENEOS Materials Corporation

ENEOS Materials is engaged in the research and development, manufacturing, and sales of synthetic rubber, thermoplastic elastomers, latex, and other raw materials for the automobile industry and other industries around the world. Formed on April 1, 2022, through the sale of JSR Corporation’s elastomers business unit to ENEOS Corporation, ENEOS Materials has world-class research & development capabilities and manufacturing technologies. Backed by the extensive procurement, funding, organization, and global network of the ENEOS Group, ENEOS Materials is able to provide a stable supply of high quality and competitive products. In response to changes such as the shift to electric vehicles and the need to achieve the Sustainable Development Goals (SDGs), ENEOS Materials continues to refine its technological capabilities and is promoting innovations that will contribute to society and promise a brighter and more vibrant future for all.

About Yokogawa

Yokogawa provides advanced solutions in the areas of measurement, control, and information to customers across a broad range of industries, including energy, chemicals, materials, pharmaceuticals, and food. Yokogawa addresses customer issues regarding the optimization of production, assets, and the supply chain with the effective application of digital technologies, enabling the transition to autonomous operations. Founded in Tokyo in 1915, Yokogawa continues to work toward a sustainable society through its 17,000+ employees in a global network of 122 companies spanning 61 countries.

For more information, visit www.yokogawa.com

The names of corporations, organizations, products, services and logos herein are either registered trademarks or trademarks of ENEOS Materials Corporation, Yokogawa Electric Corporation, or their respective holders.

 

View this news release and multimedia online at:

https://www.businesswire.com/news/home/53364485/en

Permalink

https://aetoswire.com/en/news/53364485en

Contacts

 

Corporate Planning Department

ENEOS Materials Corporation

PR Section

Integrated Communications Center

Yokogawa Electric Corporation

Yokogawa-pr@cs.jp.yokogawa.com

Zone Adopts ThetaRay AI Solution to Monitor and Screen Payments in Nigeria

 

 Blockchain-powered Nigerian fintech to integrate ThetaRay’s SONAR AI-powered technology to increase growth opportunities with a trusted service

(BUSINESS WIRE) -- Zone (formerly Appzone), Africa’s first regulated layer-1 blockchain network for payments, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they will collaborate to implement ThetaRay’s cloud-based SONAR solution to monitor and screen Zone’s transactions in Nigeria for illicit activities and sanctions violations.

Headquartered in Lagos, Zone serves large commercial banks, payment fintechs, digital banks, and OFIs with real-time, low-cost settlement of both fiat and digital currencies for domestic and cross-border payments.

Through the agreement, ThetaRay will provide Zone the SaaS-based SONAR AI solution that can detect and prevent the earliest signs of sophisticated attempts to launder money or circumvent financial sanctions and watchlists. The solution will help Zone ensure it fully complies with regulatory AML requirements and increase its growth opportunities by providing a trustworthy and secure service.

The new collaboration highlights ThetaRay’s expansion in Nigeria’s fintech payments market.

Zone is Africa’s first decentralized or peer-to-peer payment network based on blockchain technology, which allows payment transactions without dependence on intermediary switches. The decentralized architecture and the underlying technology enhance reliability, eliminate customer disputes, reduce the cost of operations, and automate back-office reconciliation. The network is a true web-scale infrastructure with a capacity for transaction processing throughput of over 50,000 transactions per second.

“We are thrilled with our partnership with ThetaRay, a collaboration that represents a significant step forward in our vision to become one global network to pay anyone, through any means, in any currency, in the most efficient and secure means possible,” said Elendu Uche, Co-Founder/Chief Operating Officer.

“By integrating with ThetaRay, we have enhanced our security measures and improved our regulatory compliance whilst providing faster transaction processing for our users within our decentralized payment network. We look forward to working even more closely with ThetaRay to continue delivering frictionless operations and reliable transactions to our customers.”

As Africa’s largest economy with a population of 200 million, Nigeria is home to Africa’s largest fintech ecosystem and more than 200 fintech companies. The country’s youthful population has driven Nigeria’s thriving fintech sector, increased smartphone penetration, and a focused regulatory drive to increase financial inclusion and cashless payments, according to the McKinsey research firm.1 The booming fintech market is helping improve financial inclusion in Nigeria, where more than 40 percent of the population is unbanked.

“Zone is leading Nigerian fintech innovation with a platform capable of revolutionizing the financial system through inclusive services that positively impact people’s lives,” said Mark Gazit, CEO of ThetaRay. “By deploying sophisticated AI technology to monitor and screen payments, Zone will embed the trust into its services, enabling it to grow volume, revenues and ecosystem partners.”

ThetaRay’s award-winning SONAR solution is based on a proprietary form of AI, artificial intelligence intuition, that replaces human bias, giving the system the power to recognize anomalies and find unknowns outside of normal behavior, including entirely new typologies. It enables fintechs and banks to implement a risk-based approach to effectively identify suspicious activity and create a full picture of customer identities, including across complex, cross-border transaction paths. This allows the rapid discovery of both known and unknown money laundering threats.

ThetaRay and Zone will host a customer event: "AI in Preventing Financial Crime: A New Normality" in Lagos on May 4, for executives in the banking and fintech industry of Nigeria. Register here:

1 “Harnessing Nigeria’s fintech potential,” McKinsey, September, 2020.

About Zone

Zone (formerly Appzone) is a regulated blockchain network that enables payments and acceptance of digital currencies. Our Layer-1 Blockchain network digitizes Fiat payments and enables the transition to digital currencies while connecting previously excluded financial institutions into an all-inclusive payment ecosystem. Zone, Africa’s first regulated layer-1 blockchain network for payments, allows participating institutions to connect directly with each other and perform payment transactions without an intermediary while completely automating settlement, reconciliation, and dispute management. We are working with the brightest minds on the continent to digitize and completely automate financial services. Our mission is to connect every monetary store of value using blockchain. For more information, visit www.zonenetwork.com.

About ThetaRay

ThetaRay's, AI-powered SONAR transaction monitoring solution, based on “artificial intelligence intuition,” allows banks and fintechs to expand their business opportunities and grow revenues through trusted and reliable cross-border payments. The groundbreaking solution also improves customer satisfaction, reduces compliance costs, and increases risk coverage. Financial organizations that rely on highly heterogeneous and complex ecosystems benefit greatly from ThetaRay's unmatchable low false positive and high detection rates.

To learn more about ThetaRay, please visit: https://www.thetaray.com/

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005222/en/

Permalink
https://aetoswire.com/en/news/3003202331429

Contacts

Nina Gilbert, for ThetaRay
Nina.gilbert@thetaray.com

For Zone
Oluwatobi Alaka, for Zone
oalaka@zonenetwork.com

NTT Launches Scalable, Cloud-Native Managed Detection and Response Security Service

LONDON - Thursday, 30. March 2023 AETOSWire

New security analytics offering integrates threat intelligence with correlated data from various sources across the enterprise, providing threat visibility, proactive hunting, and threat response

 

(BUSINESS WIRE)--NTT Ltd., a leading global IT infrastructure and services company, today announced the launch of its Managed Detection and Response (MDR) security service to help companies achieve business performance objectives through improved cyber resilience. The cloud-native, analytics-driven offering combines human and machine expertise with leading technologies and threat intelligence to reduce the mean time to detect and respond to cyber attacks.

The MDR service is built on Microsoft Sentinel, Microsoft’s leading next-gen security information and event management (SIEM) platform, powered by AI, automation, and threat intelligence. Sentinel enables organizations to collect data at scale across all users, devices, apps, and infrastructure, both on-prem and in multicloud environments.

Using analytics, machine learning, and threat intelligence, the service hunts for suspicious activities and minimizes false positives. With built-in orchestration and automation of common tasks, enterprises can respond to incidents rapidly and remotely isolate threats.

This latest offering represents another step forward in NTT and Microsoft’s multi-year Strategic Alliance Agreement (SCA) signed in 2020. Since then, the two companies have collaborated to build advanced solutions in public, private and edge cloud, data & AI, digital & app innovation, modern workplace, and now most recently in security.

With over 25 years of Microsoft experience, including 5000+ Microsoft engineers, and more than 10,000 Microsoft certifications, NTT provides an advanced combination of application and systems integration, advisory and managed cloud, and security services that are built using Microsoft platforms and can be delivered globally.

“Organizations are typically utilizing a patchwork of security technologies that lack alignment,” said Charlie Li, Senior Executive Vice President: Managed Cloud and Infrastructure Services, NTT Ltd. “This disjointed approach has left businesses often unable to detect hard-to-find threats and lacking the necessary agility to mitigate them. Many are simply adding more security layers, increasing complexity, and generating even more logs and alerts that go untreated.”

“NTT’s MDR service helps organizations stay ahead of attackers and has a direct impact on workforce productivity and customer satisfaction through real-time and long-term threat correlation, advanced analytics, and continuous monitoring of digital transactions. It delivers a strong cyber-resilience posture, directly impacting an organization’s operational, financial, and resource resilience,” he added.

“Our research indicates that IT security professionals are in high demand, largely driven by more threats that have sprouted with the expansion of today’s hybrid workforce and the magnitude of the increased volume of digital transactions impacting businesses,” said Craig Robinson, Research VP, International Data Corporation (IDC). “MDR services are greatly assisting organizations in taking a pro-active stance to protect all forms of digital transactions and providing those organizations with high-impact, real-time, advanced analytics and professionals 24X7X365.”

“We’re extremely pleased to expand on our existing strategic relationship with NTT through the launch of the new MDR service, based on Microsoft Sentinel, to further help protect and support our joint customers,” said Csaba Deme, General Manager, Global Security Sales at Microsoft.

NTT is well-positioned to enhance its strategic partnership with Microsoft, having earned the esteemed Microsoft Azure Expert Managed Services Provider status, as well as 8 Specializations. NTT is a member of the Microsoft Intelligent Security Association (MISA) and boasts a strong legacy with over 20 Microsoft Partner Awards, including the prestigious Partner of the Year.

The global managed detection and response market size is predicted to increase from $2.6B in 2022 to $5.6B by 2027. Some of the factors that are driving market growth include shortage of skilled cyber security professionals and budget constraints, government regulations, and strict compliance for adoption of MDR services.

NTT’s MDR base service includes service tiers and deployment options, as well as support for add-ons that provide additional capabilities to expand detection capabilities and response actions. Current add-ons are MDR for Endpoint and Security Device Management (SecDM) for MDR, for Security Devices and Services.

To find out more about NTT’s Managed Detection and Response service click here.

-ENDS-

About NTT Ltd.

As part of NTT DATA, a USD 30 billion IT services provider, NTT Ltd. is a leading IT infrastructure and services company serving 65% of the Fortune Global 500 and more than 75% of the Fortune Global 100. We lay the foundation for organizations’ edge-to-cloud networking ecosystem, simplify the complexity of their workloads across multicloud environments, and innovate at the edge of their IT environments where networks, cloud and applications converge. We offer tailored infrastructure and ensure consistent best practices in design and operations across all of our secure, scalable and customizable data centers. On the journey towards a software-defined future, we support organizations with our platform-delivered infrastructure services. We enable a connected future. Visit us at services.global.ntt

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230328005103/en/

Permalink

https://aetoswire.com/en/news/3003202331412

Contacts

Media Enquiries:

Hotwire for NTT Ltd.

Hannah Lock

hannah.lock@hotwireglobal.com

AGCO’s 2022 Sustainability Report Shows Solid Progress

 (BUSINESS WIRE) -- AGCO (NYSE: AGCO), a worldwide manufacturer and distributor of agricultural equipment, infrastructure and precision ag technology, today released its 2022 Sustainability Report. The report showcases AGCO’s progress on environmental, social and governance issues as it strives to deliver farmer-focused solutions to sustainably feed our world.

“AGCO is delivering on its sustainability commitments, from industry-leading innovation to improve sustainability outcomes for farmers, to decarbonizing our products and operations, to offering our talented, diverse employees a safer, more engaging workplace. I am proud of the progress we’re making, and I am committed to accelerating progress as we work together to help farmers sustainably feed our world,” said Eric Hansotia, AGCO Chairman, President and CEO.

Innovating for farmers

Whether it is innovating for farmer customers with intelligent, network-connected tractors that reduce soil compaction by limiting repeated machinery passes in the field, or precision technologies that enable farmers to sequester carbon, AGCO’s global brands help farmers enhance the health and resilience of their soil. In 2022, Precision Planting introduced Radicle Agronomics™, a game-changing set of soil-analysis tools for agronomists, and Radicle Lab™, the world’s first fully automated soil laboratory designed to greatly improve the precision and timeliness of soil sampling.

Decarbonization

Key to AGCO’s sustainability commitment is helping farmers grow profitably and sustainably. AGCO’s brands offer groundbreaking products and technologies to sharply reduce or eliminate emissions from farm machinery. The recently launched AGCO Power CORE™ engines reach new heights of efficiency and are compatible with renewable diesel, enabling up to 90% reduction in greenhouse gas emissions. The fully electric Fendt e100 tractor is planned for launch in 2024.

AGCO is also decarbonizing its operations. In 2022, AGCO exceeded Scope 1 and 2 targets three years ahead of schedule by reducing the emissions intensity of manufacturing operations by 31% compared to the 2020 baseline. A detailed assessment of Scope 3 value chain emissions is complete, and product management, engineering and supply chain leaders are working together to define the long-term decarbonization roadmap.

Our People

Creating outstanding products and services for farmers starts with creating a work environment where employees can grow and thrive. AGCO actively seeks and responds to employee feedback through its annual ‘Voices’ survey. Nearly 20,000 employees shared their voice in 2002, with 88% sharing they are proud to work for AGCO.

Safety, health, and well-being serve as the foundation of the employee experience. AGCO’s safety incident rate is decreasing year-over-year, with a 14% decrease in 2022. AGCO has set a new goal to achieve a total incident rate below 1.5 by 2025.

Visit AGCO’s 2022 Sustainability Report for more information on these and other key sustainability initiatives.

About AGCO

AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers customer value through its differentiated brand portfolio including core brands like Fendt®, GSI®, Massey Ferguson®, Precision Planting® and Valtra®. Powered by Fuse® smart farming solutions, AGCO’s full line of equipment and services help farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $12.7 billion in 2022. For more information, visit www.AGCOcorp.com. For company news, information, and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230328005749/en/

Permalink

https://aetoswire.com/en/news/3003202331418

Contacts

Aryn Drawdy

Communications Director

Aryn.Drawdy@agcocorp.com