Tag Archives: FIN

PR Newswire

Forrester: Mobile Banking Innovation Gap Widens In Australia Amidst Rising Customer Expectations

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Only two of the big four Australian banks, Westpac and CommBank, offer personalized features that proactively anticipate customer needs

SYDNEY, Sept. 12, 2024 /PRNewswire/ — According to Forrester’s (Nasdaq: FORR) Digital Experience Review™: Australian Mobile Banking Apps report, 75% of Australian online adult banking customers have used their mobile banking app in the past month, up from 59% in 2022. Yet most customers who used their bank’s mobile app give it a Customer Experience Index (CX Index™) score of just OK, and only 63% agree that their bank offers mobile capabilities that meet their needs.

To gauge the ease and effectiveness of mobile banking experiences, Forrester evaluated the smartphone apps of the “big four” Australian banks: ANZ, Commonwealth Bank of Australia (CommBank), National Australia Bank (NAB), and Westpac.

Key findings from Forrester’s review include:

  • Westpac leads with innovative features. Westpac emerged as the leader for the second year in a row. The bank’s app excels in money movement and account management, introducing personalized features that keep customers informed about their budget usage and spending limits. CommBank stood out as a close second, offering automated savings capabilities that reduce the cognitive load on its customers.
  • Some Australian banks have made significant strides, but overall mobile banking has stalled. Only two of the four banks, Westpac and CommBank, introduced new, personalized features that anticipate customer needs over the past year. Weak spots include the use of customer context to offer actionable insights that help customers manage their money.
  • Customers’ expectations are rising. Australian banks do the basics well, but the gap between leaders and laggards is widening as customer expectations rise. Australian banks need to invest in industry best practices that are table stakes now — for example, customers’ ability to manage their accounts digitally, improving search to help customers find and make sense of their transactions, offering real-time contextual help to resolve critical issues, and leveraging emerging technologies to deliver improved experiences.

“Given the widespread use of mobile banking apps in Australia, banks should consider investing in features valued by their customers,” said Zhi-Ying Barry, principal analyst at Forrester. “While there are some bright spots, there is a huge opportunity for Australian banks to invest more in emerging technologies such as generative AI and conversational AI to anticipate their customers’ needs and offer more personalized financial advice and solutions.”

Forrester’s Digital Experience Review research, combined with results from its Banking Customer Experience Index Rankings, evaluates digital experiences delivered to consumers, helping business, marketing, and technology leaders understand the best practices and optimal digital experiences that drive growth and customer loyalty.

Resources:

  • Learn more about the findings of Forrester’s Digital Experience Review for Australian mobile banking apps as well as best practices that banks should follow to improve CX.
  • Download The Forrester Digital Experience Review™: Australian Mobile Banking Apps, Q3 2024 (client access required).

About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester’s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; and the shared wisdom of our clients. To learn more, visit Forrester.com.

PR Newswire

ThroughPut.AI Unveils AI-powered Inventory Management Capabilities to Free-up Working Capital, Grow Revenue, and Expand Margins

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Revolutionary AI-based Supply Chain Decision Intelligence platform launches new inventory capabilities to identify and quantify working capital savings, while predicting and recommending opportunities to accelerate revenue and profitability

PALO ALTO, Calif., Aug. 13, 2024 /PRNewswire/ — ThroughPut Inc., the Gartner-recognized Industrial AI Supply Chain Analytics and Decision Intelligence pioneer, today announced the launch of new inventory management capabilities that empower businesses to drive higher profitability through powerful working capital spend projections, real-time inventory predictions, and dynamic rebalancing and replenishment recommendations.

The current release enables advanced visibility and actionability for businesses to manage their inventory and material movements across all their SKU’s, customers, locations, and supply chain end-points. As a result, they can increase inventory turns, ensure rapid availability of fast-moving products, and reduce safety stock and carrying costs. With these new capabilities, businesses now have the unprecedented availability to unlock capital, improve operational efficiencies, and boost margins. By leveraging ThroughPut’s patented, award-winning AI and Machine Learning supply chain decision intelligence platform on top of their existing diverse data systems, organizations of all types can rapidly pinpoint where capital allocation is insufficient, predict outcomes, and make recommendations enabling them to accelerate goods movement, revenue, and margins.

“ThroughPut.AI’s enhanced working capital management capabilities show our customers where their excess working capital lies, where their operations are underfunded, and projects how these gaps should best be optimized,” explains Seth Page, Chief Operations Officer and Head of Strategic Partnerships at ThroughPut.AI. “With advanced AI algorithms optimizing operations for financial analytics, insights, decision intelligence, and recommendations, we enable organizations to plan the best scenario for inventory spend down to the per SKU, per route, per location, per source, levels, so that they may cater to true demand at all times, whether sudden, seasonal, cyclical, or previously “unpredictable.” You can better analyze, predict and prepare for all these situations and many more by leveraging your existing diverse data systems with operational AI to achieve greater financial results.”

The new release focuses strongly on the following capabilities:

  • Projecting Working Capital Spend Optimization: Leverage powerful algorithms to identify when and where capital is unnecessarily tied-up, or where it needs to be supplemented to optimize flow of goods, cash, and profits.
  • Reducing Spend and Identifying Savings Opportunities: Identify specific SKUs on which spend can be safely reduced to enhance cost savings without compromising on product quality or service levels.
  • AI-powered Predictive Analytics: Get actionable insights, predictions and recommendations – on everything from inventory turnover rates to potential stockouts – to make proactive informed decisions that optimize inventory performance.
  • Advanced Demand Sensing: Move beyond traditional demand forecasting with stale assumptions and old data, and enable more accurate dynamic demand sensing to rapidly respond to shifts in market trends and customer priorities.

With ThroughPut’s latest release, businesses can rapidly segment their product portfolios, identify their best and worst performing products, adapt their product mix to prioritize fast-moving goods with higher contribution margins, and ensure the greater flow of goods, material, and cash.

PR Contact

Tina Jacobs

pr@throughput.ai

About ThroughPut Inc

ThroughPut.AI is a Silicon Valley-based Supply Chain AI-powered Decision Intelligence leader that puts Industrial material flow on Autopilot by leveraging existing Enterprise Data to achieve superior Business, Operations, Financial and Sustainability Results. ThroughPut improves material flow and free-cash-flow across the entire end-to-end value chain far faster than leading contemporary and legacy solutions. The founding team is led by seasoned serial entrepreneurs with real-world AI, Supply Chain, Manufacturing, Transportation and Operational experience, from the shop-floor to the top-floor, at leading Fortune 500 Industrial Companies & pioneering Enterprise Technology companies.

To learn more about ThroughPut Inc, visit our website today.

Additional Resources:

Source: ThroughPut Inc.

PR Newswire

Future FinTech Announces the Appointment of Hu Li as the New CEO

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NEW YORK, Aug. 9, 2024 /PRNewswire/ — Future Fintech Group Inc. (NASDAQ: FTFT), (hereinafter referred to as “Future FinTech”, “FTFT” or the “Company”), a comprehensive financial and digital technology service provider, today announced that its Board of Directors (the “Board”) approved the appointment of Mr. Hu Li as Chief Executive Officer (“CEO”), President and a member of the Board of the Company, effective August 5, 2024.

Mr. Li will be fully responsible for the operation and management of the Company, helping it to expand internationally, manage its investment and financing activities, and promote the Company’s continued strategic transformation and development. Mr. Li replaces Mr. Shanchun Huang as Chief Executive Officer effective August 5, 2024. Mr. Huang resigned as CEO, President and a member of the Board for personal reasons, and not because of any disagreement with the Company, its management or its directors.

Mr. Hu Li has served as a director and Chief Executive Officer of FTFT International Securities and Futures Limited, a wholly owned subsidiary of the Company since January 2024, and as Corporate Secretary of the Company since June 2019. Since September 2021, he has served as an independent Director of Shineco Inc. (Nasdaq: SISI). Mr. Li served as the chief supervisor of Anhui Yihai Mining Equipment Co., Ltd., a public company in the China NEEQ stock market (stock symbol: 831451) from February 2018 to July 2021. From September 2015 to February 2018, Mr. Li served as the Vice General Manager of Shaanxi Huipu Financial Leasing Co., Ltd. Mr. Li obtained his master’s degree in Business Administration (MBA) from Xi’an Technology University in 2008 and bachelor’s degree from Xi’an Fanyi University in 1996.

Mr. Foyou Li, Future FinTech’s Chairman of the Board, said, “Mr. Hu Li is an excellent executive, having joined the Company five years ago, and he has made many outstanding contributions during this period. Further, Mr. Li has played an important role as the Company transitioned into a fintech company with a diversified portfolio of financial services businesses. Mr. Li has accumulated deep knowledge of our new business and rich management experience during the past five years with the Company. I am very pleased that he has agreed to assume the responsibility as the Company’s new Chief Executive Officer and believe that Mr. Li will fulfill the mission of the Company and take it to new heights of achievement and success.”

Mr. Hu Li, said, “I attach great importance to this new appointment and opportunity. First of all, I would like to thank Mr. Shanchun Huang for his great contributions to the Company over the years. Future FinTech’s success and development cannot be separated from the leadership and guidance of Mr. Huang as he effectively developed our corporate structure and current positioning in the fintech industry. I plan to continue to work shoulder to shoulder with the Future FinTech team to help the Company to achieve sustainable development and accelerate the implementation of our global strategic growth plan. As CEO of Future FinTech, my mission is to lead the organization, set its goals and market strategies, and leverage my executive experience to the benefit of our customers, employees and shareholders worldwide.”

About Future Fintech Group Inc.

Future FinTech Group Inc. (NASDAQ: FTFT) is a comprehensive financial and digital technology service provider. The Company, through its subsidiaries, conducts asset management, brokerage and investment banking services in Hong Kong, operates a cross-border payment business in the United Kingdom, and engages in supply chain trading and finance businesses in China. In addition, the Company has initiated digital asset mining farm operations in the United States. FTFT adheres to the concept of improving financial services with digital and internet technology, and provides its business and individual customers with stable, safe and efficient digital financial services. For more information, please visit www.ftft.com.

Safe Harbor Statement

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2023 and our other reports and filings with SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Source: Future FinTech Group Inc.

PR Newswire

ADP Expands ADP SecurTime to the Philippines

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MANILA, Philippines, Aug. 7, 2024 /PRNewswire/ — ADP, a global leader in payroll and human capital management solutions, announces the rollout of ADP SecurTime, its cloud-based time and attendance solution, in the Philippines. This rollout aims to streamline payroll and workforce management process capabilities for businesses across the Philippines.

ADP SecurTime, acquired by ADP in 2023, offers robust cloud-based time tracking, attendance management, and workforce management software. It provides businesses with a range of intuitive and insightful features, including:

  • Capture real-time attendance: Utilises biometrics, tablet or mobile phone for real-time tracking
  • Time fraud prevention: Features geo-tagging, geo-fencing, live tracking and alerts
  • Integrated payroll and time: Reduces potential pay inaccuracies and administrative time
  • Centralized dashboard: Offers reports and analytics to identify patterns and discrepancies

“We are proud to introduce ADP SecurTime to the Philippines, empowering businesses with a state-of-the-art time and attendance solution tailored to meet the unique challenges of managing a diverse workforce,” said Jessica Zhang, Senior Vice President of APAC at ADP.

“By integrating our robust payroll solutions with ADP SecurTime, businesses in the Philippines can enhance efficiency and accuracy in workforce management. This powerful combination reduces administrative burdens and saves costs, enabling companies to focus more on strategic growth and employee satisfaction.”

“The rollout also underscores our commitment to supporting businesses with innovative solutions that drive productivity and compliance,” added Zhang.  

ADP provides services to a wide range of businesses and industries, helping organizations manage their payroll, HR, time, tax, and benefits needs. Serving more than one million clients in 140 countries, ADP has the experience and scale to support businesses of all sizes – from small business to global enterprise – across all industries.  

About ADP (NASDAQ – ADP)
Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential.  HR, Talent, Time Management, Benefits and Payroll.  Informed by data and designed for people.  Learn more at ADP.com

ADP, the ADP logo, and Always Designing for People are trademarks of ADP, Inc.

Copyright © 2024 ADP, Inc. All rights reserved.

Source: ADP, Inc.

PR Newswire

EMTECH ANNOUNCES BEYOND COMPLIANCE PRODUCT FOR FINTECHS TO PROACTIVELY MANAGE RISK

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NEW YORK and ACCRA, Ghana and LAGOS, Nigeria, July 31, 2024 /PRNewswire/ — Award-winning software provider, EMTECH has announced a new software product called Beyond Compliance, to help Financial Service Providers (FSPs) automate and manage regulatory compliance in one place. Regulatory Compliance is an imperative for FSPs as the fines for non-compliance can run into the billions of dollars. Beyond Compliance helps users stay ahead of regulatory issues before they result in fines, loss of a license, bankruptcy or closures.

EMTECH's Beyond Compliance software introduces a new way for fintechs to manage compliance and meet regulatory requirements.
EMTECH’s Beyond Compliance software introduces a new way for fintechs to manage compliance and meet regulatory requirements.

The ground-breaking Beyond Compliance product provides users with regulatory checklists and workflows to enable and guide them through compliance processes. By simply selecting their regulator or jurisdiction and providing a few details, users can standardize and automate compliance activities. EMTECH designed the compliance product to increase business efficiency and reduce labor costs while reducing fragmentation and manual processes.

As the incidences of fraud, digital identity theft and money laundering increase, a recent McKinsey & Company report, “The future of the payments industry: How managing risk can drive growth“ notes that service providers should “modify their risk management programs to protect their revenue and improve regulatory compliance. This may include enhancements to issue management, due diligence processes, risk appetite setting, or risk identification processes.”

“If fintech is to grow more resilient and effective at protecting consumers today and in the future, we have to rethink how compliance will be managed compared to how it’s done today. With highly fragmented regulatory requirements, risk monitoring and reporting methods, a more integrated compliance management platform is an essential tool for survival and growth” notes Carmelle Cadet, CEO and Founder of EMTECH.

The Beyond Compliance product provides “a great user experience, it is a customizable solution. The product is detailed and very effective in ensuring compliance to regulatory directives”, says beta user Kwasi Ofei, Head of Compliance at Juni Payments.

“Regulatory compliance can be a complex task for FSPs. EMTECH’s Beyond Compliance is designed to help fintechs manage their compliance requirements, in one or more markets, monitor their compliance status and provide a level of regulatory visibility that is required by Central Bankers and regulators,” says Steven Dickens, Chief Technology Advisor at The Futurum Group.

About EMTECH
EMTECH provides software, data and services that connect central banks to other regulators and financial services providers. EMTECH’s platforms power regulatory data exchange, compliance, supervision, currency issuance and currency movement in financial markets. The company is founded and led by a former IBM Blockchain Executive, Carmelle Cadet.

For more information visit the EMTECH website.

Media Contacts:

Linda Arroz, Makeover Media
Phone: 818.635.8753
email:linda.arroz@makeovermedia.com 

Mary Hall, Chief Marketing Officer, EMTECH
Email: Mary@EMTECH.com

PR Newswire

Toss Securities Expands Global Footprint with Establishment of US Office

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  • Toss Securities establishes its first global office in the U.S., aiming to expand its global presence
  • Kyungsoo (Peter) Kim, the current Head of Finance, will be appointed as the CEO for U.S. entity
  • Seungyeon Kim, CEO of Toss Securities says “The U.S. office will significantly accelerate the company’s business base in the market”

SEOUL, South Korea, July 30, 2024 /PRNewswire/ — In a strategic bid to extend its global footprint, Toss Securities, a securities firm with the largest data-driven investment platform in South Korea, is set to establish a new corporate office in the United States.

Toss Securities is a subsidiary of the South Korean fintech giant, Viva Republica, which operates the financial super app Toss. Its integrated account service allows customers to conveniently trade multiple financial instruments from one account without installing a separate app.

At a recent board meeting, the company unanimously voted to approve establishing a U.S. office under the name Toss Securities Americas (TSA), which is expected to be established during the second half of this year.

Kyungsoo (Peter) Kim, the current Head of Finance of Toss Securities, will be appointed as the CEO of its new wholly owned subsidiary, TSA. This will allow Toss Securities to bolster relationships with U.S. brokers and partners.

Toss Securities is also actively pursuing various non-financial business opportunities. One of its recent collaborations includes a marketing and partnership agreement with GraniteShares, one of the leading global ETF operators in the U.S. This partnership is part of the company’s efforts to identify and explore potential opportunities for business expansion.

“As a market leader in Korea for U.S. securities trading, it is a clear progression for Toss Securities to expand into the U.S. market,” said Seungyeon Kim, CEO of Toss Securities. “We are already working closely with our partners in the U.S., and this establishment will significantly accelerate our business base in the market.”

Toss Securities, which launched its mobile trading platform in March 2021, has been a trailblazer in the Korean investment industry as the first securities company of the mobile era. As of July 2024, the company has more than 6.1 million customers and over 3.2 million Monthly Active Users (MAU).

About Toss Securities

Toss Securities, a subsidiary company of Viva Republica, which operates the financial super app Toss, launched its customer service in March 2021. As a newly licensed securities company after 13 years, it provides user-centered services with UX/UI optimized for the mobile environment. In particular, it is the first in the industry to introduce an integrated account service that allows customers to conveniently trade multiple financial instruments from one account without installing a separate app, and as of July 2024, more than 6.1 million customers have used Toss Securities. Monthly Active Users (MAU) reach over 3.2 million to date. In addition to real-time overseas decimal stock trading, the company offers a variety of services such as community and customized content and is evolving into a data-driven investment platform.

PR Newswire

Digital Garden Announces Premier Two-Day Tokyo Digital Infrastructure Summit in March 2025

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TOKYO, July 17, 2024 /PRNewswire/ — Today, Digital Garden has unveiled plans for a premier two-day summit that will bring together global and Japanese leaders to collaborate towards cementing Japan as a global digital infrastructure leader. Digital Garden Tokyo convenes thought leaders and decision-makers from digital infrastructure owners and operators, government, investors and lenders, service and equipment providers, real estate, and end-users in a unique format meant to foster networking and enable further transactions and collaboration in the space to match the pace of growth in the industry.

Digital Garden Tokyo launches on March 17th and concludes on March 18th, 2025 at the Toranomon Hills Forum, one of the premier venues in Tokyo. The event offers multiple networking events as well as topical sessions on the most important issues in the digital infrastructure space, including Japan’s rise as a global AI and cloud hub, the investment and lending environment, advancements in fiber and power infrastructure, challenges and opportunities in construction and development, and government policies and subsidies aimed at advancing digital infrastructure. Multiple global and Japanese leaders have already confirmed attendance and initial speaker lineups will be announced in Fall 2024.

Daniel Cox, Chairman of Digital Garden and longtime Japan investment veteran, said, “Through my experience standing up digital infrastructure assets in Japan, it has become clear that both Japanese and global leaders are looking for increased opportunities to drive dealmaking and share mutual learnings and best practices. This conference comes from an overwhelming ask from all stakeholders for an event like this in Japan.”

Mike Owen, Vice Chairman of Digital Garden and Executive Director of ULI Japan, added, “Over my 20+ years running ULI Japan, my personal mission has been to successfully provide a venue for Japanese and global industry leaders to proactively network, study and learn; and consequently, for the organization to serve as a foundation for successful business collaborations. I am convinced ULI Japan did this for the real estate community, and Digital Garden will do it for the digital infrastructure community.”

Information on the conference will be updated regularly and for more information and registration details, interested parties are encouraged to visit www.digitalgarden.co.jp.

About Digital Garden Digital Garden is an innovative platform promoting collaboration among all stakeholders in the digital infrastructure space with a focus on transactions and achieving digital infrastructure growth goals in the Japanese and pan-Asian context. Digital Garden Tokyo is Digital Garden’s inaugural event. Daniel Cox, Chairman of Digital Garden, is a long-term Japan investment veteran, having previously served as Chief Representative Japan for Grosvenor, CEO at Niseko Village, and Head of Business Turnaround at Citigroup Principal Investments. Mike Owen, Vice Chairman, is the Executive Director of ULI (Urban Land Institute) Japan, having led the organization for over 20 years, and Founder of Transpacific Enterprises, the leading provider of information services for the real estate and investment communities in Japan.

PR Newswire

DTGO partners with leading AI software company SenseTime to launch “DTLM”, a new trilingual LLM for Thai, Chinese, and English

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BANGKOK, July 10, 2024 /PRNewswire/ — DTGO Corporation Limited, the parent group of MQDC, has partnered with SenseTime, a leading AI software company headquartered in Hong Kong, to develop DTLM (DTGO Large Language Model).

DTLM is a large language model (LLM) that leverages AI development expertise and ownership of DTGO and SenseTime’s big data for proficiency in three languages: Thai, Chinese, and English. The model is designed to efficiently meet multilingual requirements across these three languages, offering high-performance capabilities in each while understanding the local Thai language and culture.

Mr. Kittikun Potivanakul, Chief Technology Officer of DTGO, said that DTLM, DTGO’s first Thai LLM product, has been developed to accurately and thoroughly answer questions in Thai. It has achieved higher test results on the MMLU (Massive Multitask Language Understanding) benchmark than other Thai LLMs.

Through the collaboration with SenseTime, DTLM is an LLM that is built upon the company’s leading SenseNova Large Model Series. At the 2024 World Artificial Intelligence Conference (WAIC) in Shanghai last week, SenseTime unveiled its upgraded SenseNova 5.5 Large Model. Leveraging SenseNova 5.5’s significantly enhanced language capabilities, extensive knowledge database, and high information density, DTLM is able to engage in natural and responsive real-time conversations.

DTLM is the world’s first model to work efficiently in these three languages. Developed using machine learning technology that doesn’t rely solely on translation, DTLM provides an authentically local generative AI experience, including reading texts, asking questions, and responding naturally and quickly in real-time.

By empowering Thai customers with this innovative AI solution, DTLM aims to drive growth across various sectors and further enrich Thailand’s AI ecosystem, opening new opportunities and possibilities.

DTLM will initially focus on corporate clients, offering them cost-effective usage, helping control expenses efficiently, and incorporating a digital trust system for clients who require a highly dependable model.

DTLM can be applied in various ways, especially in vertical industries where internal organizational data can be used in conjunction with LLM to effectively answer questions about internal knowledge. It can also be used to develop services and external applications, such as in university libraries.

“We won’t stop here,” said Mr. Kittikun Potivanakul. “The world of technology is advancing rapidly, and we must develop to keep pace with industry advancements. In the near future, the DTLM model will be able to support usage for the general public as well. 

“DTGO established Quinnnova as a subsidiary because we saw the potential for IoT and AI development, as well as opportunities to develop it further into one of the high-potential businesses of the future.”

Professor Lin Da Hua, Co-Founder, Executive Director, Chief Scientist for AI Infrastructure and Large Model of SenseTime, said, “We are excited to introduce DTLM, our first large language model built upon the leading SenseNova Large Model Series and tailored for the Thai community. Coupled with DTGO’s deep expertise of the local landscape, we hope that DTLM’s ability to understand the Thai language and culture will better address the diverse needs of Thai customers and businesses. Together, we will continue to drive innovation with DTGO and deliver cutting-edge AI solutions for our clients in Thailand and Southeast Asia that are effective, cost-efficient, and sustainable.”

DTGO is active across various sectors and in societal contribution. The group’s main business is MQDC, a leading real estate developer. DTGO emphasizes the importance of implementing leading technologies and innovations in all aspects of its operations, whether under the group or its subsidiaries.

(From left to right): Mr. Jeff Shi, President of APAC of SenseTime; Professor Lin Da Hua, Co-founder, Executive Director, and Chief Scientist for AI Infrastructure and Large Model of SenseTime; Mr. Kittikun Potivanakul, Chief Technology Officer of DTGO Corporation Limited; and Mr. Songpol Polruth, President of Quinnnova Cooperation Limited, at the MOU signing ceremony between DTGO, Quinnnova Cooperation and SenseTime.
(From left to right): Mr. Jeff Shi, President of APAC of SenseTime; Professor Lin Da Hua, Co-founder, Executive Director, and Chief Scientist for AI Infrastructure and Large Model of SenseTime; Mr. Kittikun Potivanakul, Chief Technology Officer of DTGO Corporation Limited; and Mr. Songpol Polruth, President of Quinnnova Cooperation Limited, at the MOU signing ceremony between DTGO, Quinnnova Cooperation and SenseTime.


About Quinnnova Corporation
Quinnnova Corporation is a leading IT consulting company specializing in artificial intelligence (AI) and large language models (LLM) for enterprise use. It aims to transform businesses, reduce costs, and add value through cutting-edge solutions that enhance operational efficiency and decision-making quality across various industries. Additionally, Quinnnova offers ESG consulting services to help organizations implement sustainable business practices.

Quinnnova Corporation has been entrusted by DTGO as the sole distributor to deliver AI solutions, including DTLM (DTGO Language Model), an AI that excels in Thai-English-Chinese languages, as well as comprehensive AI solutions to enhance management efficiency, customer service, and data analysis for business organizations in Thailand.

About SenseTime:
SenseTime is a leading AI software company founded in Hong Kong SAR in 2014, focused on creating a better AI-empowered future through innovation. Upholding a vision of advancing the interconnection of the physical and digital worlds with AI, driving sustainable productivity growth and seamless interactive experiences, SenseTime is committed to advancing the state of the art in AI research, developing scalable and affordable AI software platforms that benefit businesses, people and society, and attracting and nurturing top talents, shaping the future together.

With our roots in the academic world, we invest in our original and cutting-edge research that allows us to offer and continuously improve industry-leading, full-stack AI capabilities, covering key fields across perception intelligence, decision intelligence, AI-enabled content generation and AI-enabled content enhancement, as well as key capabilities in AI chips, sensors and computing infrastructure. Our proprietary AI infrastructure, SenseCore, allows us to develop powerful and efficient AI software platforms that are scalable and adaptable for a wide range of applications.

Today, our technologies are trusted by customers and partners in many industry verticals including Generative AI, Traditional AI and Smart Auto.

SenseTime Group Inc. (stock code: 0020.HK) has successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited (HKEX). We have offices in markets including Hong Kong SAR, Mainland China, Macau, Japan, Singapore, Saudi Arabia, the United Arab Emirates, Malaysia and South Korea, etc., as well as presence in Thailand, Indonesia and the Philippines. For more information, please visit SenseTime’s website as well as its LinkedIn, X, Facebook and YouTube pages.

PR Newswire

Kuaishou Unveils Comprehensive AI Models, Reshaping Content and Commercial Ecosystem with AI

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BEIJING, July 9, 2024 /PRNewswire/ — Kuaishou Technology (HKD Counter Stock Code: 01024 / RMB Counter Stock Code: 81024) (together with its subsidiaries and consolidated affiliated entities, hereinafter referred to as “Kuaishou” or the “Company”), a leading content community and social platform, made its first collective debut of AI models at a forum hosted on July 6th, titled “New AI • New Applications • New Ecosystem” (the “Forum”), as part of the 2024 World Artificial Intelligence Conference (“WAIC”). During the Forum, Kuaishou showcased its comprehensive AI model matrix, including advanced functionalities for its video generation model “Kling” (可灵) and image generation model “Kolors” (可图), among others.

At the Forum, the third upgrade of Kling was released following the release of the image-to-video and video extension functions within the past month. Kling is now accessible via web portal (https://klingai.kuaishou.com). Together with the high-definition version of Kling, the new features unveiled at WAIC include start and end frame control and shot control capabilities. Additionally, the duration for single text-to-video generation for creators has been extended to 10 seconds. Kolors has been officially open-sourced to foster industry vitality and build a more prosperous text-to-image model community ecosystem.

AI technology innovation has always been the driving force behind Kuaishou’s development, covering multiple areas such as content creation, understanding, and recommendation while also continuously advancing the smart operation level of Kuaishou’s commercial ecosystem. Mr. Gai Kun, Senior Vice President of Kuaishou and head of the User Growth and Operation Business and Community Science Line, stated, “Kuaishou will remain committed to investing in AI, vigorously driving technological innovation and bringing users the best AI technology.”

Kuaishou’s AI Models Debut: Reshaping Content Creation, Understanding and Recommendations

Mr. Gai outlined the Company’s AI model matrix, which includes the KwaiYii (快意) large language model, recommendation large model, and visual generation model as key components. These models span content creation, understanding, recommendation and other aspects, playing a crucial role in enhancing Kuaishou’s commercial ecosystem. Notably, the recommendation model, SIM (Search-based Interest Model), with its scale of 10 trillion parameters, is one of the world’s leading recommendation systems. Its next-generation architecture, ACT (Action Transformer), is expected to add hundreds of millions of minutes of daily user time spent on the Kuaishou App, significantly enhancing user engagement and activity.

“We are dedicated to investing in and innovating large model technology to extract true value from real-world scenarios to meet genuine user needs,” stated Mr. Zhang Di, Vice President of Kuaishou and head of the AI Model team. “Through large model technology, we aim to reshape Kuaishou’s business by enhancing understanding, innovating interaction and exploring content generation. In content creation, we will develop a new generation of Artificial Intelligence Generated Content (“AIGC”) creation tools to offer a user-friendly, smart content creation experience. Additionally, we will enhance Kuaishou’s content understanding and distribution system for an improved user experience.”

Drawing on the KwaiYii large model, Kuaishou has developed video script generation, real-time live streaming script generation, and advertising lead customer service, all integrated with digital human technology. These advancements help advertisers produce high-quality video and live streaming content affordably, thereby improving lead conversion efficiency. In June 2024, Kuaishou’s peak daily spending from clients utilizing AIGC marketing materials exceeded RMB20 million, showcasing the enormous commercial potential of large models.

Ms. Liu Xiao, head of Kuaishou’s External Commercialization and AI Products, highlighted the success of nearly 20,000 merchants who have leveraged smart operations using AI model capabilities on the Kuaishou platform over the past six months, resulting in significant returns. In June 2024, compared to January 2024, the number of monthly active AIGC customers increased eightfold, the monthly GMV expanded 64 times, and the platform’s AIGC advertising revenue scale increased 12 times. Ms. Liu emphasized the ongoing empowerment of merchants with new, innovative business tools like Magnetic Creation, Nuwa Digital Human, and Pi Digital Employee. She stated, “We will continue to deepen the application of AI technology in commercialization, constantly innovating and developing to deliver more value for our customers.”

Kling AI Web Version Unveiled, with Advanced Frame and Shot Control Features

Following the introduction of image-to-video and video extension functions, Kling has embraced its third major upgrade within a month. The web version is now officially online. During the Forum, Kuaishou announced a significant upgrade to Kling’s foundational AI model, introducing enhanced high-definition quality as well as new editing capabilities like start and end frame control and shot control. Additionally, the maximum duration for single text-to-video creations has been extended to 10 seconds, marking the longest duration available to ordinary users in the industry for the present.

Kling, the world’s first video generation large model truly available to ordinary users, launched its text-to-video function on June 6th. At the Conference on Computer Vision and Pattern Recognition, it unveiled additional new features including image-to-video and video extension capabilities, enabling the creation of videos up to approximately three minutes in length. Based on real-world physical laws, the videos produced by Kling exhibit cinematic quality and dynamic effects, simulating lifelike physical movements with large motion and surpassing the constraints of traditional video generation technologies. This breakthrough has not only garnered praise locally but has also sparked considerable international attention, heightening global interest in China’s advancements in AI technology.

To date, over 500,000 users have applied for access to Kling’s beta test, with the number of generated videos reaching 7 million. Popular creations such as “Old Photo Revival” have gone viral due to their emotional impact. Kuaishou will continue to focus on improving the model’s foundational quality, enhancing video clarity and introducing more innovative features to meet diverse user needs.

Mr. Wan Pengfei, head of Kuaishou’s Visual Generation and Interaction Center, stated that the latest release of Kling brings significant enhancements in seven areas: motion generation, generation duration, adherence to physical laws, video quality, command response, image-to-video conversion and video control. These upgrades enable the creation of clearer and more manageable videos of 10 seconds or longer.

Notably, the trailer for China’s first original AIGC fantasy short play, “Legendary Mirrors of Mountains and Seas: Splitting Waves,” premiered during the Forum, with Kling providing extensive technical support for the short play. The rapid advancement of AIGC technology has infused fresh vitality into the short play industry, significantly boosting the efficiency of short play production, creation, and operation.

Furthermore, to inspire AI enthusiasts, Kuaishou launched the inaugural Kling x KuaiYing (快影) video creation contest “A Surge of Inspiration” at the Forum. This contest, in collaboration with six top institutions, boasts a prize pool exceeding RMB300,000. Additionally, the contest launched the “Kling x Astral Short Plays (星芒短剧)” creator incubation program, inviting winners from each category to join a creator support program. This program offers notable visibility, cash rewards, and opportunities for direct engagement with industry professionals.

Kolors Goes Open Source to Foster a Thriving Ecosystem for Text-to-Image Models

In the field of image generation large models, Kuaishou’s Kolors is at the industry forefront, boasting several core advantages including advanced semantic understanding, high-quality photographic visuals, and multi-condition controllable stylized generation capabilities. In the evaluation conducted by China’s authoritative organization, the Beijing Academy of Artificial Intelligence Institute, Kolors scored 75.23, ranking second globally in the text-to-image model area.

Kolors integrates Kuaishou’s extensive expertise in large language models, trained on billions of Chinese-language data points, making it the most proficient Chinese text-to-image model available. Its overall performance outshines both open-source models like SDXL/SD3 and closed-source models like Midjourney, setting a new benchmark for image generation in Chinese contexts. During the Forum, Kuaishou announced that Kolors would be officially open-sourced, aiming to energize the industry and foster a more prosperous community ecosystem for text-to-image models.

Additionally, the China Computer Federation (CCF) announced a collaboration with Kuaishou to establish the “CCF-Kuaishou Large Model Explorer Fund,” with the fund application channel opening concurrently. This fund plans to launch 12 research projects by the end of 2024, with topics eligible for up to RMB300,000 in support. The fund aims to address the rapid development of AI technology and the industry’s urgent demand for cutting-edge technology, focusing on the key technical research and development of the next generation of large models.

Mr. Gai reaffirmed that going forward, “Kuaishou will remain committed to investing in AI, vigorously driving technological innovation and bringing users the best AI technology.”

About Kuaishou

Kuaishou is a leading content community and social platform with its mission to be the most customer-obsessed company in the world. Kuaishou has relentlessly been focusing on serving its customers and creating value for them through the continual innovation and optimization of its products and services. At Kuaishou, any user can chronicle and share their life experiences through short videos and live streams and showcase their talents. Working closely with content creators and businesses together, Kuaishou provides product and service offerings that address various user needs that arise naturally, including entertainment, online marketing services, e-commerce, online games, online knowledge-sharing, and more.

Forward-Looking Statements

Certain statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “might”, “can”, “could”, “will”, “would”, “anticipate”, “believe”, “continue”, “estimate”, “expect”, “forecast”, “intend”, “plan”, “seek”, or “timetable”. These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include our business outlook, estimates of financial performance, forecast business plans, growth strategies and projections of anticipated trends in our industry. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, many of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in the future. Underlying these forward-looking statements are a large number of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this press release or those that might reflect the occurrence of unanticipated events.

For investor and media inquiries, please contact:

Kuaishou Technology
Investor Relations
Email: ir@kuaishou.com 

PR Newswire

OceanBase announces its listing on Google Cloud Marketplace, expanding cloud database services to 80 availability zones worldwide

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JAKARTA, Indonesia, June 27, 2024 /PRNewswire/ — During the inaugural OceanBase INFINITY tech conference in Jakarta, Indonesia, OceanBase unveiled that its comprehensive suite of cloud database products and services is now accessible on the Google Cloud Marketplace.

Evan Yang, CEO of OceanBase, at 2024 OceanBase INFINITY event in Jakarta, Indonesia
Evan Yang, CEO of OceanBase, at 2024 OceanBase INFINITY event in Jakarta, Indonesia

Charlie Yang, CTO of OceanBase, was sharing the product roadmap and unveiling upcoming releases and updates at 2024 OceanBase INFINITY event
Charlie Yang, CTO of OceanBase, was sharing the product roadmap and unveiling upcoming releases and updates at 2024 OceanBase INFINITY event

With this move, OceanBase further supports multi-cloud deployments, enhancing its ability to serve international customers with increased flexibility, scalability, performance, and cost-effectiveness. Demonstrating compatibility with major cloud environments such as Amazon Web Services, Google Cloud, Alibaba Cloud, and Tencent Cloud, OceanBase has scaled its services across over 30 geographical regions in Asia Pacific, Middle East, Africa, Europe and America, covering 80 availability zones.

As a solution for unlimited scalability and mission-critical tasks, OceanBase’s distributed database is designed to support data-intensive transactional workloads and real-time operational analytics, boasting ultra-fast performance that has once achieved world records in the TPC-C benchmark test. To date, OceanBase serves over 1,000 customers across the globe, such as SAIC Volkswagen, VIVO, Haidilao, Kwai, Trip.com, DANA, GCash, PalmPay, QiCard and the Saudi Cloud Computing Company, while also supporting all mission-critical systems in Alipay.

“We envision a unified database product strategy that brings customers a single database for the entire lifecycle of their organization at scale,” said Evan Yang, Chief Executive Officer of OceanBase. “OceanBase’s availability on Google Cloud Marketplace, coupled with our multi-cloud approach, further ensures efficient and resilient database management across diverse cloud environments, enabling customers to effectively resolve their critical business challenges.”

During the conference, OceanBase also announced strategic partnerships with leading local resellers to better serve customers in the Indonesian market.

Earlier, in May, OceanBase was recognized as an Asia/Pacific Customers’ Choice and also named a Strong Performer in the 2024 Gartner® Peer Insights™ Voice of the Customer report for Cloud Database Management Systems. It also received an Honorable Mention in the 2023 Gartner® Magic Quadrant™ for Cloud Database Management Systems.

About OceanBase

Launched in 2010, OceanBase is a distributed relational database. OceanBase’s strengths over alternative solutions include strong data consistency, high availability, high performance, cost effectiveness, elastic scalability, and high compatibility with mainstream relational databases. It enables transactions and analytical queries with just one set of data engines, empowering real-time business intelligence.

To learn more, please visit: https://en.oceanbase.com/