Marketing |Tech – International World Of Business

Beyond keywords: AI-driven approaches to improve data discoverability

Press Room Team — Tue, 28 May 2024 00:47:02 +0000

This blog is part of “AI for Data, Data for AI”, a series aiming to unwrap, explain and foster the intersection of artificial intelligence and data. This post is the third installment of the series—for further reading, here are the first and second installments.

Data is essential for generating knowledge and informing policies. Organizations that produce large volumes of diverse data face challenges in managing and disseminating it effectively. One major challenge is ensuring users can easily find the most relevant data for their needs, a problem known as data discoverability.

Organizations like the World Bank have systems to make their data assets discoverable. Traditionally, these systems use lexical or keyword search applications, indexing available metadata to enable data discovery through search terms. However, this approach limits discovery to the keywords in the accompanying metadata documentation, returning nothing beyond those terms.

Artificial intelligence (AI), primarily large language models (LLMs), can enhance data systems to ensure relevant and timely data are discoverable. With richer metadata and taking advantage of AI-enabled solutions, semantic search, hybrid search, knowledge graphs, and recommendation systems can be utilized.

In this post, we explore how simple AI applications can overcome the limitations of keyword-based search. We also discuss AI-enabled techniques that improve our understanding of users’ information needs, leading to a better data search experience.

Searching with meaning: Semantic search

Semantic search is a simple yet powerful way to leverage AI for improved data discovery. Unlike traditional keyword searches, semantic search interprets the meaning of the text, enabling more expressive queries and yielding relevant results. It provides a means to find information beyond keywords and jargon.

For example, the image below compares search results for “livable planet indicators” in the World Bank’s World Development Indicators (WDI). System A, powered by semantic search, provides highly relevant indicators, while System B, using traditional search, fails to do so.

Figure 1. A comparison of a semantic search system’s output (System A) with an existing system (System B) that likely does not leverage semantic search for the same query “livable planet indicators”.

Notably, the semantic search system identified “Population living in areas where elevation is below 5 meters (% of total population)” as a relevant indicator for a “livable planet,” alongside greenhouse gas emissions. This demonstrates how AI-powered search can yield diverse and relevant results.

Below, we present an interactive application using an AI embedding model we trained to demonstrate semantic search in action. This model is small (only 23 million parameters) and does not capture as expressive representations as larger models. It won’t return similar results for the “livable planet indicator” as a larger model with 335 million parameters would. However, the smaller model allows the application to run entirely in the user’s browser. This highlights the tradeoff between model size, computational resource, and performance.

The application also compares results from a keyword-based system. Testing it reveals the strengths and weaknesses of both methods. For instance, the small semantic model struggles with queries like “SDG,” where keyword-based search performs better. Conversely, for “spending in the armed forces,” the semantic model excels by understanding related concepts like expenses and the military. In contrast, the keyword system returns irrelevant results despite matching the keywords.

These limitations in semantic search are largely due to model size—larger models perform better. Ultimately, we aim to create a hybrid search system that leverages the strengths of both semantic and keyword-based approaches.

https://avsolatorio.github.io/ai-for-data-blog/semantic-search/vue-app.html?initialWidth=840&childId=pym-0-edzmy&parentTitle=Beyond%20keywords%3A%20AI-driven%20approaches%20to%20improve%20data%20discoverability&parentUrl=https%3A%2F%2Fblogs.worldbank.org%2Fen%2Fopendata%2Fbeyond-keywords–ai-driven-approaches-to-improve-data-discoverab0

Understanding what user needs: Query parser

While semantic search greatly enhances data discovery compared to simple keyword search, capturing specific information from user queries in a structured way can further improve precision. This process, known as query parsing, maximizes the value of metadata.

For example, when a user searches for “GDP philippines 2023,” a query parser should identify “philippines” as a country, “2023” as a year, and “GDP” as an indicator. Structuring the query this way allows the search to focus precisely on relevant data about the Philippines for 2023. Recent advancements in AI have made query parsers more reliable.

Figure 2. This shows the output of our query parser. The system can capture relevant entities, which can be used to improve the precision of the search.

Understanding users’ information needs is crucial, especially in data catalogs with limited “information real estate”—space for displaying results. By leveraging precise query information, we can filter out semantically relevant but contextually irrelevant data. For instance, GDP data for Indonesia, while semantically relevant, is not useful if the user is searching for GDP data for the Philippines.

Potential of large language models (LLMs) for dynamically improving searches: Query expansion

We must anticipate the diverse ways users search for data. Some users know specific jargon, which helps narrow down information. However, others may not know the relevant keywords. This could result in users being unable to find the data they need despite being present in the system. To address this, we can use generative AI (LLMs) for query expansion. Query expansion takes a user’s query and generates variations, improving the system’s ability to find the correct data.

In the context of development data, we can use structured metadata and an LLM to generate field-specific search information from a given query. This enhances data discoverability and enables the development of hybrid search systems—combining semantic and lexical search for more accurate and explainable results.

Figure 3. This shows how we can leverage an LLM to create targeted query expansion for each field in the metadata. This can potentially unlock tremendous value in improving the way data can be discovered in data catalogs.

A well-implemented query expansion system highlights data with richer metadata, encouraging producers to release better-documented data to ensure it is discoverable and reusable.

Though current LLMs may be limited by generation speed, advances in more efficient, smaller LLMs could make query expansion practical and accessible even in low-resource settings.

Moving forward

As we tackle the challenges of managing and disseminating data, it is exciting to see how AI can make finding data easier and more relevant. Technologies like semantic search, query parsing, and query expansion can simplify and improve the process of sifting through large datasets. These advancements not only make search results more accurate but also enhance the user experience by making important information more accessible.

Our journey to optimal data discoverability is ongoing. By continuously improving and rethinking how we leverage AI models, we can build systems that truly understand and meet users’ needs. This ensures researchers, decision-makers, and other AI applications can find relevant data to generate robust knowledge, make informed choices, and drive meaningful use cases. We must continue finding ways to make relevant data discoverable and timely, and AI provides us with the means to do this.

Ultimately, the various improvements in data discoverability that AI can help with will not be possible without rich and high-quality metadata. In a subsequent post, we will discuss how we leverage metadata standards, innovative tools and methods, and AI-enabled solutions to produce useful metadata efficiently.

Groke technologies increases commercial team to meet anticipated demand for situational awareness technology

Press Room Team — Thu, 01 Feb 2024 13:43:06 +0000

JANUARY 31st, 2024.- Finland headquartered Groke Technologies is expanding its commercial and marketing teams to meet growing interest in its pioneering digital sensor technology across the international shipping industry.

The decision to appoint a trio of sales professionals, all of whom have a collective 60 years of maritime industry experience, follows the successful 2022 introduction of the company’s ground-breaking Groke Pro Situational Awareness System across Japan’s domestic shipping fleet.

Jan Thordan Hansen and Jonas Bergring have joined newly appointed Head of Global Sales Marc van der Meij to increase awareness and adoption of Groke Technologies’ ship safety solutions across all sectors of the maritime industry.

In welcoming them to the Turku-based company, co-founder and CEO Juha Rokka said: “Jonas and Jan bring a wealth of commercial maritime experience to Groke Technologies. Their appointment is very much part of our strategy to target more international customers, following two years of product research and development and subsequent commercial success in Japan.”

Jonas Bergring held senior sales and business development positions with Wärtsilä and Eniram prior to joining Groke Technologies as Chief Commercial Officer. Capt. Jan Thordon Hansen, meanwhile, joins Groke as a consultant sales executive, having spent more 30 years in senior leadership roles with Sperry Marine, a Northrop Grumman company. Prior to that, Mr. Hansen was a master mariner sailing with DFDS.

Chief Commercial Officer Jonas Bergring, said: “I am delighted to be joining a company that has the capability to take the industry to unprecedented levels of safety, efficiency and crew wellbeing by deploying the latest technology. There are about 80,000 ships in the global fleet that can benefit from Groke Technologies’ solutions so I am very excited about our mission.”

Capt. Jan Thordan Hansen added: “As a former master mariner, Groke’s state-of-the-art technology has the capacity to revolutionise ship safety and efficiency by helping bridge officers overcome the challenges in navigating congested or difficult shipping lanes. With increasing use of digital shipping technology, combined with a shortage of experienced officers and crew, we anticipate that integrated ship situational awareness technology will be a mandatory requirement by 2030.”

Commenting further on the potential market, Marc van der Meij, who joined Groke Technologies last September, said: “We are seeing growing market interest in advanced sensor technology and Groke Pro has entered the international market at exactly the right time. We can leverage on the success we have had with Japanese shipowners to make a significant contribution to maritime safety.”

With about 75% of all marine accidents, groundings and collisions caused by human error or insufficient use of ships’ radar systems, Groke Pro gives watchkeepers an unrivalled view and awareness of the vessel surroundings, combining cameras, Radar and AIS.

“It gives greater visibility to watchkeepers allowing them to detect any navigational hazards and objects in real time, even during night-time operations or other low-visibility situations such as fog or heavy rain” said Mr. van der Meij. “It also increases the wellbeing of crew members by reducing stress and fatigue from information overload.”

All data from sensors and cameras available via one easy-to-read visual display, which can be viewed anywhere on the vessel, not just on the bridge. The simple-to-install system also includes a risk analysis tool to detect potential collision courses. [ENDS]

Pushing the Boundaries of Procurement Customer Support with Innovations

Press Room Team — Thu, 26 Oct 2023 18:48:48 +0000

When SAP’s Muhammad Alam took the stage for his SAP Spend Connect Live keynote in Vienna, Austria, this week, he looked like a man eager to reveal secrets he’d been keeping for a long time. And the SAP customers, partners, and industry experts in attendance were more than ready to hear what he had to say.

For the past year, Alam, president and chief product officer of SAP Intelligent Spend and Business Network, and his team have been speaking with SAP customers, gaining an intimate understanding of their spend management challenges and envisioning solutions to address them. This includes carefully assessing the buzz around artificial intelligence (AI) to separate what is the usual tech hype from the true promise.

Eliminate the mundane and elevate the strategic with AI

They also mobilized their team of spend management-focused developers to deliver the very innovations he was about to unveil. “The bottom line is we deliver more spend management innovation than anyone else in the industry because we have more resources devoted to spend management than everyone else in the industry,” Alam told the audience.

With its “massive force of engineers” and deep commitment at the highest levels of the business, he reminded everyone that SAP is singularly focused on helping businesses solve their urgent and critical spend imperatives – whether they are practical or existential. This includes:

Improving visibility into the supply chain and taking action to counter an ever-changing trade landscape
Doing business in a socially and environmentally responsible manner
Finding the right talent, at the right time, for the right job

“The common theme in all of this, of course, is your spend…the biggest lever you have to help your business achieve the results it needs to achieve,” he said.

Applying Generative AI Technology to Spend

As SAP Spend Connect Live moves forward, there will be a lot of talk about generative AI and how it can help businesses address urgent and critical imperatives. In his keynote, Alam noted that we are seeing a step change around AI – not just in the technology, but also in the willingness of customers to adopt AI to drive strategic transformation across business processes and functions.

But what does Alam consider the underlying promise and purpose of AI? “The ability to harness data to drive insights and make decisions…That is the promise of AI and it’s what’s driving all of the AI the momentum and excitement,” he said. “It’s not a matter of if anymore with AI. It is a matter of when or perhaps how quickly businesses can adopt these technologies and feel the impact.”

With its intelligent spend management solutions, SAP has made it a mission to enable businesses to use generative AI to harness data for greater insights and decision-making. Which brings us to two of the important innovations Alam announced during his SAP Spend Connect Live keynote: SAP Spend Control Tower and 12 new generative AI scenarios to be deployed across the spend management portfolio.

Introducing SAP Spend Control Tower

Learn more about SAP Spend Control Tower

“In the hundreds of conversations I’ve had with customers in the last year, the No. 1 ask I get from them is the ability to see and analyze their spend across all categories,” Alam said. “And by ‘spend’ I mean more than just the financials. Today, spend also means the carbon emissions impact across all categories.”

Then he unveiled SAP Spend Control Tower, which offers advanced AI features and the ability to see across all spend – in SAP’s cloud ERP solutions, SAP Ariba solutions, SAP Fieldglass solutions, SAP Concur solutions, and SAP Business Network – to help uncover cost-saving opportunities and process improvements, beginning in the first quarter 2024. Alam said he was also “excited about AI driving scope 3 carbon emissions reporting in SAP Spend Control Tower.”

All of the spend data is rationalized in a unified data model as part of our next-generation data lake, the supplier data platform. Three years in the making, it is the backbone for all of our spend analytics. In addition to fueling SAP Spend Control Tower, it also enables embedded spend insights in our applications and powers our generative AI innovations.

SAP Spend Control Tower. Click to enlarge.

12 Generative AI Scenarios for Spend Management

Alam noted that each day, individuals spend a significant amount of time doing mundane tasks because they need to be done. These take time and focus away from tasks that are more strategic and of higher value.

“Generative AI has the potential to eliminate the mundane and elevate the strategic in the daily lives of you and your team members,” he said. “This is our moment to unleash productivity gains that have been lacking for years.”

He announced 12 generative AI scenarios designed to help “drive efficiency, quality, and insight into processes that cut across spend management.” Here’s a high-level view of how these scenarios can help businesses:

In SAP Ariba solutions, they can provide a better understanding of suppliers’ sustainability position, enabling businesses to make the right decisions.
In SAP Fieldglass solutions, they can make it possible to write better, more comprehensive statements of work (SOW) and job descriptions in seconds versus hours.
In SAP Concur solutions, they can help users estimate the potential trip cost and better understand travel and expense policies.

Strategies for the Digital Age: Comprehensive Cyber Security Market Insights Revealed for 2023-2033

Press Room Team — Sat, 30 Sep 2023 18:17:11 +0000

DUBLIN, Sept. 30, 2023 — The «Cyber Security Market Report 2023-2033» has been added to ResearchAndMarkets.com’s offering.

In today’s interconnected world, the significance of cyber security has never been more paramount. Businesses across all industries are continuously faced with an escalating cyber threat landscape. Cybercriminals are ceaselessly innovating, utilising more sophisticated techniques to breach defenses and causing untold damage to organisations. The Cyber Security Market Report 2023-2033 provides pivotal insights into these dynamics, making it a valuable resource for businesses looking to understand the industry’s underlying mechanics and protect their assets.

The rapid evolution of cyber threats, from malware and ransomware to phishing attacks, is pushing companies of all sizes to prioritize cyber security. However, robust measures come at a cost, often posing a significant challenge, especially for small businesses. This comprehensive report provides actionable insights, equipping businesses to make informed decisions about their cyber security investments and strategies.

Key findings of the report include:

The global cyber security market is expected to surpass US$200.6 billion in 2023 with strong revenue growth projected through 2033.
The cyber landscape’s relentless growth has accelerated investments in advanced cyber security solutions, driving market expansion.
For businesses, especially SMEs, balancing costs between cyber security and other operational necessities remains a pressing concern.

The report comes with 138 tables and 209 charts/graphs, providing:

Detailed revenue forecasts up to 2033 across various segments.
Insightful analyses on market dynamics, drivers, restraints, and emerging trends.
In-depth looks at key market segments, including deployment modes (cloud and on-premises), components (hardware, software, services), security types, and verticals.
A global perspective with forecasts for regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Prominent companies profiled in the report include Microsoft Corporation, Cisco Systems, Inc., Palo Alto Networks, Inc., Fortinet, Inc., IBM, and more. Their strategies, market shares, and projections make the report an invaluable resource for businesses aiming to secure their digital futures.

Market Dynamics

Market Driving Factors

Protection of Sensitive Data to Drive the Market Growth
Cybersecurity Strategy and Action Plan Driving the Market Growth
Integration of Technologies Such as the Internet of Things(IOT), Machine Learning, and Cloud to Drive the Market Growth

Market Restraining Factors

Implementing Robust Cyber Security Measures Can be Expensive, Especially for Small Businesses with Limited Resources
Increasing Reliance On Modern Software Increases The Vulnerability Of Computers To Cyberattacks
Lack of Budget Among SMEs and Start-Ups in Developing Economies

Market Opportunities

Cyber Security Is Often Used To Protect Company Secrets And Intellectual Property From Competitors or Hackers
Regulation and Government Friendly Policy
Growth of Endpoint Security Segment Due to Increased BYOD Trend

Company Profiles

Microsoft Corporation
Cisco Systems, Inc
Palo Alto Networks, Inc
Fortinet, Inc
International Business Machines Corporation (IBM)
Check Point Software Technologies Ltd
McAfee Corp
Proofpoint, Inc
Trend Micro Inc
CrowdStrike Holdings, Inc
Trellix
Imperva Inc
Qualys, Inc.
Gen Digital Inc.
Splunk Inc.

For more information about this report visit https://www.researchandmarkets.com/r/1s9xes

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

United Wins ‘People’s Voice’ Webby Award for Best Travel App

Press Room Team — Thu, 20 May 2021 20:56:10 +0000

CHICAGO, May 20, 2021 — The recently redesigned United Airlines mobile app was voted the Best Travel App in the 25^th annual Webby Awards. United’s app was one of five nominees in the Travel App and Software category, and was named the “People’s Voice” winner. United debuted its redesigned app in October of last year, featuring enhanced accessibility for visually impaired customers, more intuitive navigation and faster processing. United has continued to enhance the app to make it an all-in-one solution for customers to seamlessly navigate their travel experience. In January, United introduced the “Travel-Ready Center” to its mobile app, which allows customers to upload and validate test results, review local entry requirements, find and schedule appointments with testing providers, and store vaccination records.

“We’re honored that our customers voted for United to win this award, and we plan to continue introducing new features and enhancements to ensure we are offering the most innovative and inclusive airline app in the industry,” said Linda Jojo, executive vice president for technology and chief digital officer, United. “Over the last year, it has been a top priority for us to make travel easier and more accessible for all, and United’s mobile app gives customers everything they need for their travels right in the palm of their hand.”

Already the top downloaded airline app for Apple and Android phones, with up to 2.5 million users interacting with the app daily, the United app was redesigned last year to help make travel easier for people with visual disabilities. Some of the enhanced features include increased color contrast, more space between graphics and reordering how information is displayed and announced to better integrate with the screen reader technologies built into most handheld devices like VoiceOver and TalkBack that read aloud on-screen messages and notifications. By restructuring the way the information is organized, screen readers are better able to convert text to audio in the proper, logical sequence, allowing customers to better understand and navigate the app.

In addition to the accessibility enhancements, United also introduced a refreshed account experience for MileagePlus® members to easily check balances, track Premier® progress, explore MileagePlus benefits, access past activity and more. The airline also updated its design and navigation to make the app more intuitive and help customers find everything they may need for their travels. All of these changes are underpinned by a new back-end platform, which ultimately makes the app faster and more responsive.

United has continued to add industry-leading features to its app in the months since the redesign, including:

Travel-Ready Center: A digital solution that allows customers to view COVID-19 entry requirements, find, schedule and receive uploaded test results from local providers and upload any required testing and vaccination records for domestic and international travel, all in one place. United is the first and only U.S. airline to integrate all these features into its mobile app and website.
Agent on Demand: Customers at select airports can receive virtual, on demand customer service, giving people an easy, contact-free option to get real-time information and support. Customers can access “Agent on Demand” on the United app to call, text or video chat live with an agent and get answers on everything from seat assignments to boarding times.
United Map Search: An interactive map feature powered by Google Flight Search Enterprise Technology, that lets customers easily compare and shop for flights, based on departure city, budget and location type, including popular national park, skiing and cultural destinations. This new digital tool available on the United app and website displays fares in a map view, allowing customers to simultaneously compare travel to a variety of destinations in a single search.
Contactless Payment: On flights offering for-purchase food and beverage options, United customers can now use United’s new contactless payment system that allows them to store their payment information in a digital wallet on the United app and on United.com prior to departure. Rather than handing the flight attendant a credit card, the flight attendant will ask for the customer’s name and seat to confirm the card on file. Once confirmed, customers will receive their products and the card on file will be charged accordingly.

The Webby Awards is the leading international awards organization honoring excellence on the Internet, and United’s app was the only major U.S. carrier app nominated for a Webby award this year. In 2019, United’s mobile app was awarded a People’s Voice Webby Award in the Business and Finance category.

Committed to Ensuring a Safer Journey

United is committed to putting health and safety at the forefront of every customer’s journey, with the goal of delivering an industry-leading standard of cleanliness through its United CleanPlus℠ program. United has teamed up with Clorox and Cleveland Clinic to redefine cleaning and health safety procedures from check-in to landing and has implemented more than a dozen new policies, protocols and innovations designed with the safety of customers and employees in mind.

About United

United’s shared purpose is “Connecting People. Uniting the World.” For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of UAL is traded on the Nasdaq under the symbol “UAL”.

Digital Infrastructure Investments Begin to Bear Fruit

Press Room Team — Mon, 25 Jan 2021 02:30:19 +0000

The countries whose financial sectors have invested in digital financial infrastructure were able to reach out faster to their most needed communities during the pandemic, according to the Global Microscope 2020 on financial inclusion performance. This index, conducted every year by The Economist Intelligence Unit with support from IDB Lab, IDB Invest, the Center for Financial Inclusion (CFI), and the Bill & Melinda Gates Foundation, monitors how 55 emerging markets tackle financial inclusion through a number of variables such as regulation, infrastructure, consumer protection, and financial stability and integrity.

This year the study focused on the global COVID-19 crisis, and provides data on the role that financial inclusion has played in policymakers’ crisis response, to support vulnerable individuals, small businesses and the financial providers that serve poor households.

The economic consequences of border closures and lockdowns to mitigate the spread of the virus have had the greatest impact on the most vulnerable populations. Of the 55 countries analyzed in the Microscope, 44 implemented cash transfers to support vulnerable segments of the population. And despite big differences among countries, it has become clear that the digital infrastructure that includes high levels of access to identification, mobile phones and financial accounts, enabled governments to deliver COVID-19 emergency cash transfers efficiently and quickly. Of the countries with higher scores in digital infrastructure, 19 have implemented emergency cash transfers, and 14 of them are from Latin America and the Caribbean (LAC).

Peru and Colombia lead the Global Microscope 2020 ranking and are the only countries in the index to obtain the highest scores in all the five categories evaluated, followed closely by Uruguay, Mexico and Argentina, confirming for one more year, LAC’s leadership in financial inclusion. The report also shows that Brazil, Guatemala and Jamaica have achieved the fastest progress in the region thanks to their efforts to strengthen their digital financial services ecosystems.

The Microscope also reveals that 50 of the 55 analyzed countries have in place a national ID system that is at least partially digitised, helping facilitate access to financial services. However, relying on digital channels risks excluding millions of women, who have lower levels of access to mobile phones and digital IDs and are among the most vulnerable segments of the population. The report highlights that while more than half of the countries included in the index have not formally implemented Know Your Customer (e-KYC) methods, 11 have relaxed due diligence requirements or allowed remote account opening during the pandemic, allowing 60 million new accounts globally to countries with pre-existing enabling environments and those that quickly adapted their rules.

According to the study, in order to contain systemic risks, several governments have provided support to large financial institutions. However, efforts to protect financial institutions that serve the poor (agents, MFIs, mobile money providers and others) have varied. The Microscope warns the collapse of microfinance and nonbank financial institutions represents a social risk, given that they serve over 140 million low-income customers worldwide.

Finally, the 2020 Microscope warns of an in increase in financial fraud during the pandemic that, together with concerns over data privacy, can put at risk the trust among new entrants to the financial system that are promoting the increased use of digital financial services. Only 22 of the 55 countries in this year’s index comprehensively protect individuals’ financial data, and only 18 have an entity with strong capacity to enforce data protection. For this reason, the Microscope is urging financial authorities to protect consumers from emerging risks, and to follow the example of the Dominican Republic, which has comprehensive legal framework to investigate and prosecute cybercrime.

About IDB Lab

IDB Lab is the innovation laboratory of the IDB Group, the main source of financing and knowledge for development, focused on improving lives in Latin America and the Caribbean (LAC). The purpose of IDB Lab is to drive innovation for inclusion in the region, mobilizing financing, knowledge and connections to co-create solutions capable of transforming the lives of vulnerable populations due to economic, social or environmental conditions. Since 1993, IDB Lab has approved more than $2 billion in projects developed in 26 LAC countries, including investments in more than 90 venture capital funds.
www.bidlab.org

About IDB Invest

IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $12.1 billion in asset management and 333 clients in 24 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
https://www.idbinvest.org/en

About The Economist Intelligence Unit

The Economist Intelligence Unit (EIU) is the research and analysis division of The Economist Group. Trusted by the world’s most influential organizations, the EIU’s public policy practice provides evidence-based research for policymakers and stakeholders seeking clear and measurable outcomes. More information can be found at http://www.eiu.com/publicpolicy

BCW Introduces Consulting Unit to Reach and Move Audiences Across “Majority-Minority” Polycultural America

Press Room Team — Thu, 01 Oct 2020 17:14:14 +0000

NEW YORK – BCW (Burson Cohn & Wolfe), a leading global communications agency, today launched the BCW Polycultural Consulting Unit that helps clients understand, connect with and move diverse stakeholder audiences through nuanced, hyper-resonant, precisely deployed communications and campaigns that are culturally relevant and promote inclusion and diversity in the workplace and beyond. “Through the BCW Polycultural Consulting Unit we can help clients engage in pointed, meaningful conversations with diverse target audiences in the way they want to engage and using the right language, imagery and messaging,” said Donna Imperato, Global CEO, BCW. “With 2020 marking the first year in America where the youngest generation is ‘majority-minority,’ it is critical for clients to reach these audiences now to establish long, meaningful and trusted relationships.” The BCW Polycultural Consulting Unit goes beyond general market, multicultural or cross-cultural planning to consider an audience’s multidimensional and sometimes fluid markers of identity, highly differentiated life experiences, and specific views on racial and societal issues. BCW categorized these indicators into three key pillars of identity to map points of connection, universal insights and shared human truths between client and stakeholders. Those pillars include:

Cultural Heritage, including race, ethnicity, traditions and language;

Cultural Status, which considers lifestyle, sexual orientation, education and class/income, among other factors, and;

Cultural Zeitgeist, which accounts for factors associated with a moment in time, such as art, economics, fashion, pop culture and vernacular, etc.

Insights gained from this audience analysis are then applied across three sets of offerings which range from research and strategy to internal and external communications programs:

Research & Strategy, including primary culture and audience studies; diverse audience immersions; cultural trendspotting; message testing and optimization; and creative and cultural risk assessments.

Internal Engagement, which includes developing programs supporting BCW’s IDEA Framework:
Inclusion: Focus on inclusive actions and behaviors, consciously managing bias and bias interrupting, integrated in the client work
Diversity: Mirror the marketplace of stakeholders you serve, including considerations for ethnicity/race, gender, sexual orientation, religion, veteran status, caregiving, disabilities, thinking style and all intersections
Equity: Consider and provide what different groups need by ensuring policies and practices provide an equal opportunity regardless of diversity dimension
Accessibility: Ensure policies and practices are equitable, including recruiting and talent initiatives and taking into consideration differently abled individuals, both physical/non-physical

Internal Engagement also includes internal audits and strategy against the IDEA Framework; bias interrupter design thinking workshops; engagement strategies for underrepresented employee segments; IDEA ‘Actions & Impact’ Leadership and Inclusion Council Workshops.

External Engagement, including polycultural brand marketing campaigns; segment-specific marketing communications campaigns; corporate reputation and thought leadership initiatives and related issues; and strategic counsel on racial injustice and Black Lives Matter issues.

“We are looking at a new ‘general market’ on the rise in this country, one that is inherently diverse and culturally fluid,” said Kristin Hooper, BCW Polycultural Consulting Unit lead. “This audience not only demands to be seen, heard, represented and respected – it is also on the front lines of fighting for racial and societal justice. Brands and organizations that overlook connecting with polycultural America now risk losing their relevance with an audience that is only going to continue to grow.” “Identity is a very personal and sometimes complex mix of variables that matter greatly to individuals,” Imperato added. “The BCW Polycultural Consulting Unit is about helping clients navigate this complexity to meet target audiences where they are and in ways that are relevant and will resonate. BCW’s core driving force is to move people. The formalization of this unit ensures that our clients are equipped to reach all kinds of people.”
About BCWBCW (Burson Cohn & Wolfe), one of the world’s largest full-service global communications agencies, is in the business of moving people on behalf of clients. BCW delivers digitally and data-driven creative content and integrated communications programs grounded in earned media and scaled across all channels for clients in the B2B, consumer, corporate, crisis management, healthcare, public affairs, purpose and technology sectors. BCW is a part of WPP (NYSE: WPP), a creative transformation company. For more information, visit www.bcw-global.com.

JPMorgan in pole position to lead WeWork IPO after debt offering: sources

Press Room Team — Mon, 05 Aug 2019 05:40:32 +0000

NEW YORK – WeWork owner The We Company has tapped JPMorgan Chase & Co (JPM.N) to head an upcoming debt offering, putting the bank in pole position to lead a planned initial public offering (IPO) later this year, people familiar with the matter said.

WeWork would like work on the debt offering to begin as early as next week, although this is subject to change as there are regulatory hurdles to be cleared, the sources said.

WeWork has not officially hired banks for the IPO but the expectation among people involved in the process is that any lender’s role in the debt offering will have a direct impact on its role in the IPO, said the sources, who requested anonymity because the details are private.

Other banks, including Goldman Sachs (GS.N), are also expected to have prominent roles for the IPO, the sources said.

WeWork is looking to raise $5 billion to $6 billion through the bond offering and is then looking to go public as soon as September, Reuters reported last month.

Leading the WeWork IPO would be a coup for JPMorgan and means it would occupy the lead spot on two of the three largest IPOs of 2019, having led preparations for the Lyft Inc (LYFT.O) listing in March. Rival Morgan Stanley (MS.N) was the lead bank on the Uber Technologies Inc (UBER.N) IPO in May.

In proceeds from U.S. IPOs for this year as of Aug. 1, Goldman Sachs is on top, with Bank of America Merrill Lynch (BAC.N), JPMorgan and Morgan Stanley following, according to Refinitiv data.

The We Company, based in New York and founded in 2010, was most recently valued at $47 billion, making it one of the biggest private companies in the world.

WeWork has helped popularize “coworking”, or shared desk-space, with a focus on startups, entrepreneurs and freelancers, and has received significant backing from some of the world’s biggest investors, including Japan’s SoftBank Group (9984.T).

Despite its vast growth, the company has faced questions about the sustainability of its business model, which is based on short-term revenue agreements and long-term loan liabilities.

In both the scale of its valuation and losses, The We Company has echoes of both Uber and Lyft, whose shares have struggled since going public this year amid questions about their paths to profitability.

Endor Wins MetLife Korea’s Innovation Program, Collab 5.0

Press Room Team — Fri, 14 Jun 2019 01:43:44 +0000

MetLife Korea today announced Endor as the winner of its open innovation program, collab 5.0. The Israel-based startup has won a USD 100,000 contract to pilot their solution with the insurer, which allows business users to answer predictive questions on the same day without the need for data science expertise.

In addition to Endor, MetLife Korea selected four other finalists including Eda Communications, Fount, and MindsLab from South Korea, and Gnowbe, from Singapore for special Judges Awards.

Created by LumenLab, MetLife’s Asia innovation center, collab 5.0 invited insurtechs from around the globe to apply to pilot their solutions with MetLife Korea.

The winners were among seven finalists to pitch their solutions to a panel of senior MetLife executives at a ‘Demo Day’ in Seoul on Thursday. In total 180 startups from 30 countries applied to the program, including 51 from South Korea.

“MetLife Korea is looking forward to working with Endor and the other four innovative startups. Their solutions have the potential to offer tremendous benefits to our business and customers in Korea,” said Young Rok Song, Senior Vice President and General Manager, MetLife Korea.

“Innovation is a business imperative and external collaboration forms a key component of MetLife’s efforts to transform the insurance sector. Collab is about building partnerships that help us innovate ahead of tomorrow’s challenges to have a greater impact on those we serve,” said Zia Zaman, LumenLab’s Chief Executive Officer and Chief Innovation Officer of MetLife Asia.

Collab 5.0 launched in February and follows four successful collab programs, including two in Japan in 2017 and 2018, one in MetLife’s Europe, Middle East and Africa region in 2018, and one in Singapore in 2016.

Since its inception, collab has attracted 718 applications from more than 60 countries and MetLife has awarded more than USD 1 million worth of contracts to develop value-generating solutions for MetLife’s business and customers.

For more information on collab 5.0 and the seven finalists, visit: http://collab.lumenlab.sg/

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

About LumenLab

As MetLife’s pioneers for disruptive innovation in Asia, LumenLab is charging ahead to create new businesses in health, wealth and retirement. Lumen, a measure of light, symbolizes our commitment to illuminating a new path for solving the problems that the people of Asia face today. Through our focus on building new products and services grounded in technology and data, we aim to help people achieve richer and more fulfilling lives. For more information, visit http://www.lumenlab.sg

Supermicro Scale-up Servers Deliver Affordable

Press Room Team — Wed, 06 Feb 2019 00:07:43 +0000

SAN JOSE, Calif., — Super Micro Computer, Inc. (SMCI), a global leader in enterprise computing, storage, networking solutions and green computing technology, today announced that its four-socket servers now support next-generation Intel® Xeon® Scalable processors and Intel® Optane DC persistent memory.

Supermicro’s SuperServer 2049U-TR4 is powering the most demanding and intensive enterprise workloads for the top cloud vendors in the industry. These systems are optimized to fully leverage next-generation Intel Xeon Scalable processors as well as paradigm-changing Intel® Optane DC persistent memory. In a recent study by Intel and SAP, the use of persistent memory can cut system downtime from minutes to seconds, and for SAP S/4 HANA the system restart time with Optane persistent memory is 12.5 times faster than DDR4.

“Our four-socket servers are proven, reliable machines that have been powering mission-critical workloads for large enterprises and top cloud service providers around the world,” said Raju Penumatcha, Senior Vice President and Chief Product Officer of Supermicro. “Using next-generation Intel Xeon Scalable processors and Intel’s Optane persistent memory, these servers deliver a tremendous performance boost for in-memory computing at a dramatically lower cost compared to the previous generation architectures.”

“SUSE and Supermicro have long partnered on solutions that serve our customers in the digital economy,” said Phillip Cockrell, SUSE vice president of Worldwide Alliance Sales. “This partnership once again leads to SUSE support for Supermicro solutions, now including the newest in-memory 4-way system from Supermicro. SUSE, which provides the leading Linux platform for SAP workloads, and Supermicro continue to work together to deliver outstanding value to our customers by providing a foundation for SAP HANA on Kubernetes installations throughout the world.”

In addition to powering the cloud, the stability and power of Supermicro’s SYS-2049-TR4 makes it an ideal building block for enterprise customers who are looking to migrate from their current mainframe infrastructure. In a recent testing conducted by Neeve Research, Supermicro Multi-Processor (MP) servers were able to demonstrate superior performance against typical mainframe workloads.

“Using Supermicro MP servers, we were able to achieve real-time fraud detection against 10TB of data to process an astonishing 10 thousand transactions per second (TPS) with less than 10 microseconds response time,” said Grish Mutraja, CEO of Neeve Research, a pioneer in Next Generation in-memory computing technology. “The baseline today with current Mainframes is around 800 TPS with a latency of 50 milliseconds. Supermicro’s servers provide amazing performance and a strong value proposition for any enterprises that are seriously considering mainframe migration strategies.”

Supermicro’s Multi-Processor servers are designed for enterprise mission-critical workloads such as real-time OLTP + OLAP, in-memory analytics, virtualization and scale-up high performance computing (HPC). These servers are certified for a wide range of popular Operating Systems including RedHat, SUSE, Ubuntu, VMWare, and Windows.

Supermicro is sampling a new 4U server with four next-generation Intel^® Xeon^® Scalable processors for up to 112 compute cores and up to 18 terabytes of memory. The SuperServer 8049U-E1CR4T supports 16 expansion slots, eight NVMe SSDs and up to six GPU cards. The best applications for this system include in-memory computing, real-time data analytics, AI inference and virtualization.

For more information on Supermicro and Supermicro products, visit www.supermicro.com.

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About Super Micro Computer, Inc. (SMCI)
Supermicro®, the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced Server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and Embedded Systems worldwide. Supermicro is committed to protecting the environment through its “We Keep IT Green®” initiative and provides customers with the most energy-efficient, environmentally-friendly solutions available on the market.

Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.