Category Archives: Automation

57% of respondents confirm financial firms still have progress to make, before they reach the advanced stages of innovation and technology efforts

NEW YORK, July 21, 2022 /PRNewswire/ --Investing in technology to better optimize data and modernize data management are the top priorities for financial services firms according to new research by global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE: BR). The research was compiled from a survey of 200 financial services professionals, conducted at the recent SIFMA Operations Conference in May 2022.

With as many as 98% of respondents' companies investing in their front-to-back-office workflow management, more than one-quarter (27%) of respondents cite data management tools as their firm's priority investment. In addition to data management, firms are also investing in AI and automation (23%), more human capital (13%), cloud-native capabilities (10%) for uniformity, and blockchain technologies (8%) to improve overall efficiencies.

"In today's rapidly evolving world, an optimized workflow is crucial and good clean data is key," said Vijay Mayadas, President of Capital Markets at Broadridge. "And yet, firms are drowning in the complexity of managing and simplifying data without the technology and digital infrastructures in place to support its management, stifling transparency, agility and growth."

Unlocking the value of data

Optimizing and contextualizing data can lead to better data management and streamline internal workflows. However, 94% of firms are facing challenges around effective data use. Legacy or outdated technology stands out as the biggest hurdle that firms face (27%), followed by poor data quality (23%).

After a year of job-hopping and "The Great Resignation," it comes as no surprise that firms are also having a hard time finding the human capital to effectively leverage data. Nearly one-fifth (19%) say they're experiencing an inability to quickly test, onboard, validate or maintain datasets.

Wall Street Recognizes the Need for Improved Tech Stack

The research found that more than half of the attendees (57%) confirmed their firms still have progress to make before they reach the advanced stages of their innovation and technology efforts.

"We hear from clients and the survey findings highlight how firms are overwhelmed with the amount of data and limited in how to use it," said Mayadas. "By assessing ones tech stack and partnering with trusted providers, firms have the opportunity to maximize the capability of their data and improve their workflow management."

Methodology

The survey of 200 financial services professionals was conducted at the 49th Annual SIFMA Operations Conference & Exhibition in Phoenix, Arizona on May 17-18, 2022.

About Broadridge

Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work, Broadridge is part of the S&P 500 Index, employing over 13,000 associates in 21 countries.

For more information about Broadridge, please visit http://www.broadridge.com.

Investors:W. Edings ThibaultHead of Investor Relations+1 516-472-5129[emailprotected]

Media:Gregg Rosenberg Global Head of Corporate Communications+1 212 918 6966[emailprotected]

SOURCE Broadridge Financial Solutions, Inc.

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Data Management and AI Automation Tools Are the Top Investment for Financial Firms, Broadridge Survey Finds - PR Newswire

CPG brands participating in Walmarts retail media network have a new artificial intelligence (AI) option for automating and optimizing ad management.

Walmart is partnering with e-commerce management platform CommerceIQ to offers automated management of sponsored product and sponsored brand amplifier advertising for CPG brands that target its customers via Walmart Connect.

Walmart Connect is the closed-loop media business for Walmart. It offers advertisers the ability to serve personalized, time- and context-specific ads across customer touchpoints including media placements on in-store TV walls and self-checkout screens, Walmart digital properties, mobile devices, and corporate events.

[Read more: Walmart has big plans for its Walmart Connect ad platform]

The new CommerceIQ Retail Media Management for Walmart Connect offering will provide Walmart advertisers solutions including:

In a previouscorporate blog post, Rich Lehrfeld, senior VP and GM, Walmart Connect, outlined several important steps the retailer plans to take with the platform this year:

Improve and innovate new ways for suppliers and sellers to connect with customers throughout the shopper journey.

Enable growth for suppliers and sellers ofallsizes via automation.

Exceed advertiser performance goals.

Walmart is a leader and true innovator in omnichannel and retail e-commerce. It is an honor to be selected as a Walmart platform partner, said Guru Hariharan, CEO of CommerceIQ. Advertisers love the reach of Walmart Connects retail media platform and have driven its explosive growth. Were thrilled that this partnership will help brands crush their ad performance goals and broader business objectives of driving profitable market share growth on Walmart.

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Walmart integrates Walmart Connect with automation platform - Chain Store Age

Michael Reynolds, business technology senior manager of digitization at KeyBank, will discuss how to use automation to detect and stop fraudulent transactions at the Bank Automation Summit Fall 2022 on Monday, Sept. 19, at 11:45 a.m. PT.

Bank Automation Summit Fall 2022 takes place live at the Hyatt Olive 8 in Seattle Sept. 19-20, and brings together industry experts to discuss compelling technology content, including the latest automation trends, developing for the cloud and pursuing embedded finance.

View the Bank Automation Summit Fall 2022 agenda here.

Reynolds is responsible for robotic process automation (RPA) and artificial intelligence (AI) at the $186 billion bank. He and his team spearheaded the automation of the banks chargeback process for credit cards and scaled infrastructure to support more than 1,000 virtual machines running RPA. The Cleveland-based bank has automated 225 processes to date, Reynolds told Bank Automation News.

Our automations are now doing the work of over 370 full-time employees every day, Reynolds said. Five years into our automation journey, Key went from nervous apprehension in adoption to an aggressive automator with a very compelling and impressive business case.

Our capability to evaluate opportunities very fast to assess the return on investment has enabled us to look at hundreds of opportunities a year and accelerate the development of the most attractive processes.

Learn more about the Summit here. Register for the event here.

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KeyBanks Mike Reynolds to speak at Bank Automation Summit Fall - Bank Automation News

Kubernetes as a lynchpin for network automation at scale

Zero-touch network automation needs to be employed at every level of the 5G stack in order for 5G Standalone (SA) services to work as envisioned. 5G SA will bring considerable benefits to customers, but it also increases the complexity of the network itself. Network automation is essential to managing this new complexity.

The end-goal of network automation is to deploy truly zero touch services which are autonomous capable of scaling up and down to meet any need, but also capable of repair themselves when they fail, and continuously optimizing to achieve best results.

Ericsson describes the challenges facing operators today: The majority of CSPs have complex, multi-technology networks that will need to co-exist with the future 5G networks. Many CSPs desire openness and need non-proprietary automation solutions for multivendor networks that will also support the new and exciting capabilities of 5G with assured performance.

Kubernetes has emerged as the dominant enterprise microservices containerization and orchestration system, and its a lynchpin to help carriers and enterprise customers manage 5G services within a containerized framework. Kubernetes strength is in eliminating manual processes used to deploy and scale containerized applications, helping to easily and more efficiently manage clusters of host systems operating cloud-native microservice apps.

Kubernetes running a bare-metal environment that is, a single-tenant server, optimized for specific performance, security, and reliability is the best choice for deploying 5G cloud-native applications, according to Henrik Bckstrm and Rakesh Bohra of Ericsson. Why bare metal? Keep it simple and fast.

With a Kubernetes over bare-metal infrastructure, without the virtualization layer, service providers get a simplified architecture common for central, edge, and private network deployments providing substantial CAPEX and OPEX benefits, the two wrote.

The Linux Foundation and Google Cloud are putting considerably weight behind Project Nephio to help manage network automation using cloud-native principles while providing carrier-grade service. The open-source effort uses Kubernetes, also developed by Google.

Nephio takes the concept further, unifying automation control planes which are entirely abstracted from infrastructure. This will help make multivendor 5G cloud deployment and management easier and more performant, through intent automation and automation templates, according to the Linux Foundation.

Building, managing and deploying scalable 5G networks across multiple edge locations is complex. The Telco industry needs true cloud-native automation to be faster, simpler, and easier, while achieving agility and optimization in cloud-based deployments, said the Linux Foundation in a statement at the time of the announcement.

The Nephio project attracted initial interest from a host of companies including CSPs and telco equipment and software makers after being announced in April, with dozens more joining the chorus a few months later. More than 50 companies are supporting the project, including big guns like Verizon, Vodafone, and Deutsche Telekom.

Kubernetes suitability for telco is also a focus of the Cloud Native Computing Foundation (CNCF), a subsidiary of the Linux Foundation. KubeCon and Cloud NativeCon Europe 2022 took place in Valencia, Spain, in May. There, the CNCF announced efforts to improve the usability of Kubernetes service mesh systems for telco and a new certification program to help telcos assess the suitability of Network Equipment Providers (NEPs), which purport to offer cloud-native solutions.

The new Kubernetes-related project is called Envoy Gateway. Envoy Gateways goal is to make Envoy, the open-source edge and service proxy, easier to use. Envoy helps wrangle load balancing and other networking complexities specific to cloud app microservice management. Envoy enables cloud developers and network operators to more easily observe and tune overall cloud app performance.

Envoy Gateway adds a simplified deployment model and API layer aimed at lighter use cases. The new effort also merges two existing CNCF API projects: Contour and Emissary, into a common core.

Exposing a simplified set of APIs, and implementing the Kubernetes Gateway API, [Envoy Gateway] makes it easier to extend Envoy. Developers will now have a cost-free, unfettered way to provide external access to their work in progress. At the same time, Envoy Gateway will not replace API management features currently found in commercial products, said the group.

Read more:

Cloud-native network automation for 5G Standalone considerations - RCR Wireless News

As technologies continue to converge, integrators are increasingly fnding opportunities at the intersection of security and building automation systems.

Traditionally, security and building control systems have been separated physically and often managed by different teams. A modern building automation system (BAS), often called a building management system (BMS), can make it easier and more efficient to integrate these two realms.

As a security systems integrator, its important to educate customers on the benefits of integrating traditional security systems with a BMS. It not only makes sense to integrate these systems that support occupant needs but it can also unlock synergies throughout the facility that support sustainability by reducing energy use and carbon emissions while also enhancing operational efficiencies.

When explaining the advantages of a fully integrated solution to potential customers one that incorporates a BMS to monitor and manage both security systems and building controls there are five key benefits to emphasize: seamless security, enhanced occupant well-being, unified situational awareness, greater productivity and improved sustainability.

How a BMS Benefits the Security Integrator

Because technical labor is tough to find in todays tight job market, many integrators are finding it challenging to keep up with servicing their customers. With its predictive maintenance and self-calibrating features, a building management system (BMS) can help integrators do more with less.

In the coming years, buildings will continue to become more digitally connected and an integrated BMS will be critical to maintaining occupant comfort and safety, as well as optimizing building efficiencies and energy consumption.

To stay competitive, security integrators need to look beyond traditional solutions toward a holistic view of security that maximizes savings and optimizes energy use as it helps protect occupants and assets.

A BMS can maximize the performance of a facilitys security systems. When integrated with video systems and sensors situated throughout a building, a BMS can provide insight into how and when occupants use spaces, how they engage with each other and where they tend to congregate.

Foot traffic patterns revealed by video analytics and data from the access control system can inform BMS load patterns and help settings for ventilation and temperature controls, help update social distancing guidelines and other pandemic restrictions, and reduce energy consumption.

Ideally, the elements of a security system work together seamlessly to cover all the bases from parking and access control to visitor management, occupant tracking and video surveillance. In many facilities though, access control systems keep track of occupants entering the building but not of those exiting.

Leveraging a BMS, operators can access the people-counting function of their video analytics to check exiting numbers against those who entered the building earlier in the day. As another backup, they can check data from sensors installed to monitor carbon dioxide and lighting to track how many employees remain in each space after closing time.

In potentially hazardous workplaces such as manufacturing or warehousing facilities, a BMS that has been integrated with the facilitys security system can be used to create automatic workflows that initiate lockouts, turn on emergency lighting or open doors in case of an emergency.

These automated responses can potentially avert life-threatening situations as well as help reassure workers that safety systems are working behind the scenes to protect them. It can also help first responders know the exact people count in a specific space or zone so that they can take appropriate action.

While HVAC and lighting systems are essential to occupant well-being and comfort, security systems play a role in creating and maintaining safe, healthy buildings. When integrated with a BMS, security and HVAC systems can work together to enhance the performance of both.

For example, video systems and connected sensors situated throughout a building can provide insight into how spaces have historically been used to predict where and when occupants are likely to engage with one another. At a more tactical level, they can alert staff to an unidentified object left in the building or an occupant who has slipped and fallen.

Foot traffic patterns, tracked by video surveillance and analytics, can inform the BMS allowing settings for ventilation, temperature and humidity controls to adjust to improve occupant comfort and well-being. Video and access control systems can also show facility managers where and when crowds tend to form.

In corporate office buildings, for example, theres often a rush at building exits or turnstiles at the end of the workday. Using a BMS, operators can command the access control system to temporarily open exit doors and unlock turnstiles to ease the flow of exiting employees.

Honeywells new Charlotte, N.C., headquarters features the latest BMS technologies.

The ability to monitor and control the performance of all building systems on a single BMS dashboard using real-time data provides facility managers with numerous advantages. Facility managers can, for example, track key performance indicators for security, occupant well-being, air quality, energy efficiency and space utilization and fine-tune settings when and where needed.

The BMS dashboard can also allow facility managers to achieve integrated outcomes by combining the functions of individual systems. A BMS can enlist the access control system to track how many people enter and exit a space.

Lets use the example of office building workers who often must badge in but not out again. Video analytics can automatically track people exiting as well as entering a given space.

Foot traffic patterns, tracked by video surveillance and analytics, can inform a BMS to adjust ventilation, temperature and humidity controls.

More critically, if a smoke detector alerts the BMS to a possible fire in the building, it can signal the access control system to lock elevators, unlock all emergency exits and open turnstiles to expedite safe building evacuation.

By providing big-picture visibility into occupant well-being and safety KPIs, a BMS helps building owners and managers use all available assets security systems included to improve occupant experience.

As more employees move to a hybrid work-style, splitting their week between the office and home, other integrated outcomes are possible that can help boost employee productivity. Aggregated data from security, HVAC and lighting systems can be used to analyze space utilization and reconfigure workspaces to accommodate new use patterns and protocols.

When integrated with video analytics, a BMS can be used to collect occupancy data to assess which office spaces are getting used more or less. Such information can help managers reconfigure access controls and reprogram ventilation and lighting controls to optimize energy use.

Commercial real estate firms and large corporations are under increasing pressure to adopt and implement sustainability programs that aim to reduce energy consumption and carbon footprint across their holdings and facilities. By providing real-time visibility into the energy performance of HVACs, lighting systems and plug loads, a BMS can help pinpoint areas where efficiencies can be enhanced to help meet energy conservation and net zero goals.

Studies such as the U.S. Department of Energys About the Commercial Buildings Integration Program report have shown that, on average, 30% of energy consumed by commercial buildings is wasted.

By using video analytics and access control systems to augment data from a smart HVAC, facility managers can track and analyze trends in energy consumption against evolving occupancy levels in spaces throughout the building and use this data to adjust lighting, comfort and ventilation setpoints.

Leveraging BMS technology, building owners and enterprises can collect data, set energy performance baselines and track progress toward their sustainability goals. A BMS can also be used to collect additional data from both building controls and security systems to identify operational changes that not only support overall ESG initiatives but enhance occupant experience.

Bhavesh Gupta is Director of Engineering for Honeywell Building Technologies.

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Building Automation Systems: Become an Expert and Win Customers With These 5 Benefits - Security Sales & Integration

REDDING, Calif., July 21, 2022 /PRNewswire/ --According to a new market research report titled, 'Industrial Automation Sensors Market by Sensor Type (Level Sensors, Flow Sensors), Type (Contact Sensors, Non-contact Sensors), Mode of Automation, End User, and GeographyGlobal Forecast to 2029,' the industrial automation sensors market is expected to grow at a CAGR of 9.6% by value from 2022, to reach $22.59 billion by 2029.

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Industrial automation sensors play a significant role in making the products intelligent and highly automatic. These allow one to detect, analyze, measure, and process changes in production or manufacturing plants. Furthermore, these sensors are vital in making production intelligent and automated.

The growth of this market is attributed to the rising adoption of industry 4.0 and IIoT in manufacturing, the surging demand for smart sensor-enabled wearable devices, and the growing technological advancements in industrial sensors. Furthermore, the use of smart sensors for predictive maintenance and increasing utilization of smart sensors in the automotive industry are the factors expected to offer significant opportunities for the growth of this market.

Rising Adoption of Industry 4.0 and IIoT in Manufacturing to Support the Market Growth

The automation sensors market is growing due to government support and initiatives, high demand for industrial automation for mass production, and mounting pressure to reduce operational costs. Product lifecycle management and enterprise-level solutions are gaining high demand across the globe.

Singapore is emerging as a dominating automation country in Southeast Asia due to initiatives such as National Robotics Program. In 2019, Singapore witnessed the roll-out of the Narrowband IoT (NB-IoT) network, a connectivity standard backed by Telcos and the GSM Association, which accelerated the progress of Singapore's digital economy. In September 2019, Thailand announced its plans to develop the Digital Park Thailand to provide digital infrastructure to companies to support Thailand's agenda to become a digital innovation hub. Thailand's Digital Agenda 2018 was focused on five areas: digital infrastructure, digital government, digital manpower, cybersecurity, and digital tech developments. The Ministry of Digital Economy and Society (Thailand) also presented a Smart City Framework designed to make habitable cities with the help of digital technologies. In October 2018, Malaysia proposed a National Industry 4.0 Framework to boost the manufacturing sector. One of the initiatives includes smart cities to accelerate the progression of the digital economy. Hence, such developments are expected to drive the growth of the industrial automation sensors market.

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To provide efficient analysis, Meticulous Research has segmented this market based on Sensor Type (Level Sensors, Flow Sensors), Type (Contact Sensors, Non-contact Sensors), Mode of Automation, End User, and Geography.

Based on sensor type, in 2022, the image sensors segment is expected to account for the largest share of the industrial automation sensors market. An image sensor is an electronic device that converts an optical image into an electronic signal. It is used in digital cameras and imaging devices to convert the light received on the camera or an imaging device lens into a digital image. The large market share of this segment is attributed to factors such as the increasing demand for sensors for digital cameras and imaging devices; the increasing need for advanced functionalities such as higher sensitivity and lower dark noise; and the growing popularity of image sensors across medical imaging equipment and night vision equipment.

Based on type, in 2022, the contact sensors segment is expected to account for the largest share of the industrial automation sensors market. The large market share of this segment is attributed to the benefits provided by contact sensors, such as monitoring doors, windows, and other access points to promote security in industrial operations. Contact level sensors involve physical contact between the device (comprising contact type industrial sensor) and media. The technologies used in contact type level sensors are magnetoresistive, vibratory probe, hydrostatic, magnetic and mechanical float, pneumatic, rotating paddle, resistive chain, and weight and chain. The most common contact type sensors include temperature, pressure, force, and flow sensors.

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Based on mode of automation, in 2022, the semi-automatic system segment is expected to account for the largest share of the industrial automation sensors market. Semi-automatic systems are widely adopted since they benefit companies that emphasize improving their manufacturing process but cannot eliminate operator assistance. The components used in these systems benefit from automation sensors, but some aspects of the assembly are too difficult to automate fully and reliably. Manufacturing companies adopt semi-automatic machines to make significant process improvements while retaining the adaptability of an operator's input for additional manual inspection.

Based on end user, in 2022, the oil & gas segment is expected to account for the largest share of the industrial automation sensors market. The large market share of this segment is attributed to the implementation of automation sensor technologies to improve decision-making, troubleshooting, and performance efficiency in oil & gas exploration activities. Some of the major areas highly influenced by automation sensors in the oil & gas sector include drilling operations, diagnostics & inspections, pipeline monitoring systems, weather monitoring systems, and pressure & flow systems. Drilling is one of the major areas with automation due to its expensive process and high safety risks. Furthermore, companies are increasingly deploying automated pipeline monitoring systems due to the increasing number of pipeline thefts.

Based on geography, in 2022, Asia Pacific is expected to account for the largest share of the industrial automation sensors market. The growth of this regional market is attributed to the growing industrial sector; the increasing presence of SMEs in countries such as India, China, and Japan; the growing need for sensors in the pharmaceutical, manufacturing, and automobiles industries; rapid industrialization and technological advances; growing electronics and automobile industries; the emergence of industry 4.0; and the increasing number of foreign investments.

Furthermore, the increase in manufacturing units, the presence of several semiconductor manufacturing units, favorable government initiatives, the automation of traditional manufacturing and industrial activities through modern smart technologies, and growth in the electronics and automobile industry drive the growth of this market in Asia-Pacific.

The key players operating in the industrial automation sensors market are Amphenol Corporation (U.S.), Honeywell International Inc. (U.S.), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Renesas Electronics, Corporation (Japan), Rockwell Automation, Inc. (U.S.), Siemens AG (Germany), STMicroelectronics International N.V. (Switzerland), TE Connectivity Ltd. (Switzerland), Texas Instruments Incorporated (U.S.), Dwyer Instruments Ltd. (U.K.), Bosch Sensortec GmbH (Germany), ABB Ltd. (Switzerland), Analog Devices, Inc. (U.S.), and Sensirion AG (Switzerland).

To gain more insights into the market with a detailed table of content and figures, click here:https://www.meticulousresearch.com/product/industrial-automation-sensors-market-5281

Scope of the Report:

Industrial Automation Sensors Market, by Sensor Type

Industrial Automation Sensors Market, by Type

Industrial Automation Sensors Market, by Mode of Automation

Industrial Automation Sensors Market, by End User

Industrial Automation Sensors Market, by Geography

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Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:Mr.Khushal BombeMeticulous Market Research Inc.1267WillisSt,Ste200 Redding,California,96001, U.S.USA: +1-646-781-8004Europe : +44-203-868-8738APAC: +91 744-7780008Email-[emailprotected]Visit Our Website:https://www.meticulousresearch.com/Connect with us on LinkedIn-https://www.linkedin.com/company/meticulous-researchContent Source: https://www.meticulousresearch.com/pressrelease/506/industrial-automation-sensors-market-2029

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Industrial Automation Sensors Market Expected to Reach $22.59 Billion by 2029 - Market Size, Share, Forecasts, & Trends Analysis Report with...

DUBLIN--(BUSINESS WIRE)--The "Japan Digital Lending Platform Market (2022-2027) by Offerings, Point of Service, Deployment Mode, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

Japan's Digital Lending Platform Market is estimated to be USD 441.84 Mn in 2022 and is expected to reach USD 1,512.82 Mn by 2027, growing at a CAGR of 27.91%.

Market Segmentation

Market Dynamics

Drivers

Restraints

Opportunities

Challenges

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for Japan's Digital Lending Platform Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

Why buy this report?

Report Highlights:

Key Topics Covered:

1 Report Description

2 Research Methodology

3 Executive Summary

4 Market Dynamics

5 Market Analysis

6 Japan's Digital Lending Platform Market, By Offerings

8 Competitive Landscape

9 Company Profiles

10 Appendix

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/je0lwv

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Japan Digital Lending Platform Market Report 2022-2027: Increasing Demand for Automation in The Money Lending Process Driving Growth -...

Healthcare automation startup Olive is laying off about 450 workers, according to an email sent by CEO Sean Lane to employees on Tuesday.

Lane wrote the company had grown quickly over the past several years, hiring new staffers and launching new tools. But the "realities of today's economy" are pushing the automation company to pull back from that strategy.

Going forward, Olive will focus on the company's Autonomous Revenue Cycle product geared toward providers and its Utilization Management Transformation tool for payers. The letter said the plan will help Olive become profitable more quickly than the startup had first planned.

Laid off employees received an email notifying them that their last day is today, but their official employment will end in 60 days. Lane wrote that affected workers will be eligible for two weeks of severance per year of service as well as job placement support and access to a talent portal.

"While we are experiencing many of the same headwinds as other organizations including shifts in the industry landscape, evolving customer expectations and challenging market conditions we also must reconcile missteps we made," Lane wrote.

"Our fast-paced growth and lack of focus strained our product and engineering resources and prevented us from executing quickly on key initiatives. I take responsibility for this."

THE LARGER TREND

The layoffs come about a year after Olive announced it had closed a $400 million funding round that boosted its valuation to $4 billion. It also raised multiple rounds in 2020, including a $225.5 million investment announced in December that year.

In April, Axios reported that Olive wasn't delivering on its promises to generate big cost savings for health systems by automating administrative tasks.

Olive is far from the only digital health company pursuing layoffs this summer. Payment startup Cedarlaid off 24% of its workforce earlier this month. Ro, a direct-to-consumer virtual care unicorn that earlier this year raised $150 million, let go of 18% of its workforce. Diagnostics company Cue Health, hybrid provider Carbon Health, primary care company Forward and mental health startup Cerebral have also laid off employees.

A Rock Health report on digital health funding through the first half of 2022 found growth-stage companies may face particular challenges in the current market, noting the recent spate of layoffs. Sizes of Series B, C and D+ deals declined compared with 2021, while Series A rounds stayed steady.

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Healthcare automation company Olive lays off around 450 workers - Mobihealth News

The saying work smarter, not harder dates back to the 1930s and is attributed to Allen F. Morgenstern, an industrial engineer who created a work simplification program that boosted productivity while requiring less effort.

Fast-forward 90 years, and that same saying has taken on new meaning in the farming industry. The convergence of high tech and agriculture has resulted in innovative new technologies like electrification, automation and artificial intelligence (AI) that are addressing farmers most pressing needs, allowing them to achieve new levels of efficiency and boost their bottom lines.

Why go electric? Lets start with the obvious. Have you seen gas prices lately? The cost of diesel nationwide remains at record highs, up 70% from just a year ago. Diesel fuel powers 75% of all farm equipment including tractors, harvesters and sprayers all vital to a farming operation. They are doing the same job they were doing a year ago but are now 70% more expensive to operate. These costs are expected to remain high through the summer, with no relief in sight. Factor in the potential for a busy hurricane season that could further disrupt production, and the long-term prognosis is not good.

This is why electrification is more attractive than ever before. With innovations in battery technology, todays electric alternatives do everything that traditional farming equipment does but without the high cost of fuel. Farmers can see the immediate economic impact on their farms. Further, with gas prices expected to remain unstable, investing in electric technology stands to pay for itself sooner rather than later.

Transitioning to electric-powered farm machinery not only offers farmers cost-saving solutions but also an opportunity for more sustainable farming practices. Take, for instance, the traditional diesel tractor. Did you know one diesel compact tractor produces roughly 14 times the emissions of the average car? These emissions directly affect the quality of crops, the safety of farm staff and the health of our planet. There is also a growing consumer demand for more sustainable agriculture practices. Replacing a diesel tractor with a zero-emissions electric tractor can help farms kick-start the transition to clean farming.

Ask just about any farmer about his or her top challenges, and labor shortages are likely to be included in that list. The farming industry continues to be hit hard by a lack of available workers. Studies show that between 1950-2000, hired farm hands declined 52%, while self-employed and family farmworkers declined 73%. This labor shortage is attributed to several factors, ranging from stricter immigration policies to a growing lack of interest in agriculture. Farmers under the age of 35 make up just 9% of the industry.

As a result, farmers are being forced to make do with fewer workers, and that is where automation comes into play. From irrigation drones to robots that can seed, plant and harvest to self-driving tractors, automated farm equipment is filling the void left by a shrinking workforce. Automation helps farmers optimize operations, as they can program equipment to conduct specific tasks and operations, and strategically put human workers where they are needed most.

Autonomous operations can also protect workers. Autonomous operations such as spraying prevent workers from having to be in the spray zone and be subjected to potentially harmful chemicals. Autonomous tractors cut the costs of extra passes, enabling farms to get rid of herbicides and use natural non-synthetic pesticides, creating a healthier environment.

As attractive as a fleet of self-driving vehicles and machines roaming the farm unattended may be, the infusion of AI and machine learning (ML) capabilities into these autonomous operations takes them to the next level. AI technology offers a variety of benefits, including:

With the emergence of 21st century cutting-edge technology, farming is entering a cleaner, safer and more efficient era. New innovations in electrification, automation and artificial intelligence are helping farmers solve key challenges such as high fuel prices, labor shortages and the effects of climate change, while boosting productivity and maximizing profitability.

Work smarter, not harder, indeed.

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Equipment Hub: The case for electrification, automation and artificial intelligence in farming - Progressive Dairy

Ranpak, a provider of paper-based packaging solutions for e-commerce and industrial supply chains, has launched Flapit!, a highly efficient machine that automates the packing of a variety of small products.

The Flapit! solution automatically adapts to the height of the item and secures the product in place with inner-flaps and integrated cushioning bumpers at the corners. This ensures that products are protected during shipment, significantly reducing costs, damage and product returns.

The system is run by a single operator and can easily be moved around the facility; additionally, it includes a number of safety features and has a small physical footprint. Flapit! can pack up to 540 packages per hour, nine packages per minute five times faster than manual packing.

The machine is integrated with labeling solutions for in-line application of shipping labels and because it uses blanks to form the packages, Flapit! eliminates the need to store multiple box sizes in inventory, says Ranpak.

Once received, packages are easy for the recipient to open, with no need for knives, scissors, or other tools. Small parcels can be delivered via traditional mail.

Omar Asali, chairman and CEO of Ranpak, says: The global launch of Flapit! is the latest example of how Ranpak is strategically investing in innovative automated packaging solutions to deliver cost-savings, efficiency gains and sustainability benefits to our customers.

We are pleased to add Flapit! to our growing portfolio of sustainable automated packaging solutions to help our customers improve their supply chain performance, lower their labor and materials costs, and reduce their environmental impact.

The Flapit! solution is ideal for e-commerce and logistics operations such as, B2C sellers of books, photobooks, personalized gifts, music, games, art and small electronics; and for B2B operations shipping smaller spare parts. B2C sellers of some beauty and personal care products will also find this packing solution highly valuable.

Ranpak says Flapit! easily fits into a typical pick-then-pack process and can package products with a maximum height of 80 mm (3.15 inches). It is easy to use, requires minimal operator training, and can deliver up to 50 percent cost reduction in packaging material with no corrugated waste, adding that it also offers a higher quality unboxing experience when compared to pillow bags.

One early Flapit! customer is CEWE, the Germany-based leading photo service in Europe, shipping more than six million photobooks per year, according to Ranpak.

By implementing multiple Flapit! units, CEWE has been able to reduce the number of temporary workers hired during peak periods and has automated 30 percent of its total packing operation, reducing delivery time to the end customer and improving pack quality by providing greater protection of goods shipped.

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Ranpak launches new automated packaging machine - Robotics and Automation News