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PR Newswire

Harnessing AI to Find Ideal Business Partners in International Trade

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REHOBOTH BEACH, Del., Sept. 23, 2023 /PRNewswire/ — Securing trustworthy business partners in international trade has always been a challenging task, requiring years of meticulous and painstaking groundwork, careful analysis, and the courage to deal with uncertainty. This article explores how cutting-edge AI tools, such as Volza, have been innovatively tackling these persistent challenges.

Evaluating potential partners from their online presence has been a formidable hurdle. There are no foolproof methods to ensure the competency and reliability of these entities based solely on their digital footprint. Conducting in-person visits, although insightful, is both time-consuming and costly. Moreover, transactions with unfamiliar buyers could result in bad debts, while dealings with unknown suppliers might yield subpar products or even lead to a total loss of the advance payment.

These hurdles are particularly daunting for professionals in the export-import industry aiming to broaden their global trade reach. In response, an AI-Powered tool like Volza allows professionals to strategically use the power of artificial intelligence and machine learning to navigate these challenges and make informed decisions. Volza provides an extensive global trade database, including complete shipment details through bills of lading. This tool arms users with essential information about active exporters and importers, capturing years of their export-import experience, current buyers and suppliers, transaction frequency, ongoing orders, shipment volumes, pricing, consignment numbers, and an exhaustive trade history. With this wealth of data, users can confidently assess and choose suitable business partners.

Vijay Sethia, Director of Chamanlal Sethia, one of India’s foremost rice exporters, testifies to the transformative impact of these tools. According to Sethia, the introduction of trade data portals has empowered them to dramatically expand their business operations. Gone are the days of protracted struggles, with years spent on marketing, traveling, and product sampling. Today, importers and exporters can swiftly map out their market, efficiently identifying trustworthy and reliable business partners in just a matter of hours.

While other trade databases like Panjiva and ImportGenius offer similar services, they seem to cover fewer countries. A glance at the Volza website shows that it provides trade data for more than 80 countries, while Panjiva and ImportGenius support a trade base across 10 and 14 countries, respectively.

Michael Robinson, Director of Volza, emphasizes their mission to expedite the entire process of identifying suitable business partners. “We aim to make it quicker, more cost-effective, and feasible. Users can bypass years of relentless effort, elevating their businesses to new heights with confidence, and in a fraction of the traditional timeframe,” he explains.

Platforms like Volza also overcome the obstacle of procuring direct contact details for key decision-makers. Whether it’s the export head, import head, or other relevant stakeholders, Volza’s built-in function provides access to their contact information and even links to their LinkedIn profiles.

In conclusion, AI’s integration into international trade is ushering in a transformative era. Platforms like Volza are making the identification and evaluation of business partners more efficient and reliable. By offering extensive trade data and essential contact information, these platforms are setting new benchmarks in the sector. It’s clear that AI-powered trade data tools are more than clever business strategies; they are now a prerequisite for success in the globalized marketplace. As AI and Big Data technologies continue to evolve, their impact on facilitating international trade will only expand, heralding a future where global business expansion is seamless and confident.

About Volza:

Founded in 2017, Volza is dedicated to propelling global business expansion for export-import companies. Harnessing advanced analytics and dashboard tools, Volza unveils hidden opportunities and threats, empowering import-export businesses to thrive in today’s competitive market. As an industry disruptor, Volza offers access to comprehensive global trade data, facilitating confident decision-making. Discover more at https://www.volza.com/.

PR Newswire

Pixalate Q2 2023 Ad Fraud Benchmarks for Web Traffic: North America Reports Highest Desktop Invalid Traffic Rate at 13%, Followed by Asia-Pacific

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New research shows 12% Global Invalid Traffic (IVT) rates on desktop compared to 8.5% for mobile browsers.

LONDON, Sept. 22, 2023 /PRNewswire/ — Pixalate, the market-leading fraud protection, privacy, and compliance analytics platform for Connected TV (CTV) and Mobile Advertising, today released the Q2 2023 Desktop and Mobile Web Invalid Traffic Benchmark Report, analyzing the invalid traffic (IVT) rates for open programmatic advertising on desktop, mobile and tablet websites as of Q2 2023.

The report provides benchmarks for ad fraud across mobile and tablet devices and desktop browsers by global region and country.

Key Findings:

Open Programmatic Advertising on Desktop Web

  • 12% Desktop IVT rate in Q2 2023
    • Firefox Browser (24%) had the highest IVT rate in Q2 2023 among top 5 desktop web browsers
  • North America (13%) reports highest desktop IVT rate
  • Malaysia (21%) reported the highest desktop web IVT rate for any country

Open Programmatic Advertising on Mobile & Tablet Web

  • 8.5% global mobile & tablet web IVT rate in Q2 2023
  • Vivo mobile devices most vulnerable for mobile web IVT (11.8%)
  • At 9%, APAC & EMEA regions have higher mobile web IVT rate – peaking at 24% in South Korea
  • U.S. and Canada among lowest mobile web IVT rates 8.2% & 7.9% respectively

Download a free copy of the report here: Q2 2023 Desktop and Mobile Web Invalid Traffic Benchmark Report

About Pixalate

Pixalate is the market-leading fraud protection, privacy, and compliance analytics platform for Connected TV (CTV) and Mobile Advertising. We work 24/7 to guard your reputation and grow your media value. Pixalate offers the only system of coordinated solutions across display, app, video, and CTV for better detection and elimination of ad fraud. Pixalate is an MRC-accredited service for the detection and filtration of sophisticated invalid traffic (SIVT) across desktop and mobile web, mobile in-app, and CTV advertising. www.pixalate.com

Disclaimer

The content of this press release, and the Q2 2023 Desktop and Mobile Web Invalid Traffic Benchmarks Report (the “Report“), reflect Pixalate’s opinions with respect to factors that Pixalate believes can be useful to the digital media industry. Any data shared is grounded in Pixalate’s proprietary technology and analytics, which Pixalate is continuously evaluating and updating. Any references to outside sources should not be construed as endorsements. Pixalate’s opinions are just that, opinions, which means that they are neither facts nor guarantees. Pixalate is sharing this data not to impugn the standing or reputation of any entity, person or app, but, instead, to report findings and trends pertaining to programmatic advertising activity across CTV apps in the time period studied. Pixalate does not independently verify third-party information. Per the Media Rating Council (MRC), “‘Invalid Traffic’ is defined generally as traffic that does not meet certain ad serving quality or completeness criteria, or otherwise does not represent legitimate ad traffic that should be included in measurement counts. Among the reasons why ad traffic may be deemed invalid is it is a result of non-human traffic (spiders, bots, etc.), or activity designed to produce fraudulent traffic.” IVT is also sometimes referred to as “ad fraud.” Per the MRC, “‘Fraud’ is not intended to represent fraud as defined in various laws, statutes and ordinances or as conventionally used in U.S. Court or other legal proceedings, but rather a custom definition strictly for advertising measurement purposes.”

PR Newswire

Yonyou Releases White Paper on Globalization of Digital Operations for Chinese Enterprises, Empowering Global Expansion and Digital Transformation

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HONG KONG, Aug. 31, 2023 /PRNewswire/ — On August 19, 2023, Yonyou Network Technology unveiled the White Paper on Globalization of Digital Operations for Chinese Enterprises at the forum entitled ‘Chinese Enterprises Going Global’ in Shanghai National Exhibition and Convention Center, aiming to support Chinese enterprises in global expansion and digital transformation.

Holistic Development: New Patterns, New Challenges, Accelerated Globalization

In response to the evolving global dynamics and challenges, an increasing number of Chinese companies are embracing digital economic opportunities to facilitate international growth. Dr. Bowen Guo, General Manager of Yonyou Overseas Business Unit, introduced the global 2.0 strategy during the Chinese Enterprise Globalization Forum.

The White Paper delves into the evolving landscape and challenges faced by Chinese enterprises global operations under the Belt and Road initiative and dual circulation policies. It outlines four global operational models: export, overseas marketing, overseas operations, and global integration.

Digital Intelligence Foundation: Solutions for Chinese Enterprise Global Operations

Then, Mr. Liu Meixiang, General Manager of Yonyou North America, further introduced the Yonyou BIP globalization solution released in the White Paper. Yonyou BIP is a new-generation digital intelligence product developed after seven years of research and development. It supports various capabilities such as multi-language, multi-time zone, multi-format, multi-currency, multi-standard, and localized access. Yonyou BIP also enables regional and localized applications based on customers’ business scenarios, with the scope of applications expanding through the globalized data model.

Mr. Liu also highlighted the topic of global compliance and data security and privacy protection, introducing the business scenarios and solutions for Chinese enterprises going overseas under the GDPR, including finance, tax, HR, recruitment, procurement and OA, and proposing targeted development strategies for planning and building enterprises’ global competitiveness.

World-Class: Case Studies of Chinese Enterprise Global Operations

The White Paper features compelling case studies showcasing the success of Chinese enterprises’ global operations. Notably, China Mobile International collaborated with Yonyou to establish an integrated global HR platform, effectively managing staff performance across 35 countries and integrating 25 sub-processes. Yonyou’s support enabled Wolong Electric Group’s digital procurement platform, leading to a cost reduction of over 10%. Additionally, Yonyou’s efforts transformed Walsin Lihwa into a digital intelligent factory spanning Taiwan and Mainland China.

Founded in 2003 in Hong Kong, Yonyou’s Overseas Business Unit boasts 20 years of expertise. Yonyou has provided best practices for thousands of mid-size and large enterprises, spanning finance, retail, real estate, construction, and trading. Yonyou continues to drive cross-border management and business innovation for enterprises.

From Asia-Pacific to Global: Yonyou Embarks on the Era of Globalization 2.0

The White Paper release marks a new phase for Yonyou Overseas in Globalization 2.0 era. Dr. Bowen Guo highlighted this year’s initiatives of entering Europe, North America, Japan, and the Middle East, covering over a hundred countries in three years. This strategy aligns with the White Paper’s concepts, supporting Chinese enterprises digital transformation for global expansion.

Co-Creation and Mutual Benefit: A New Ecosystem for Global Expansion

Amidst globalization, how Chinese enterprises achieve global operations through digital transformation is vital. The White Paper serves as a comprehensive guide, offering strategies, solutions, and best practices to guide Chinese companies in their global digital transformation journey.

【About Yonyou Network Technology】

Founded in 1988, Yonyou Network Technology is the world’s leading enterprise management software and cloud services provider, offering industry-wide ERP software and SaaS solutions. Yonyou has been recognized by Gartner as global top 10 ERP providers, and ranked by IDC as the largest enterprise management software provider in China.

Yonyou Hong Kong Website: https://www.yonyou.com.hk
Facebook: https://www.facebook.com/YonyouHongKong
LinkedIn: https://www.linkedin.com/company/yonyouhongkong
Twitter: https://twitter.com/YonyouOverseas
#YonyouHongKong

PR Newswire

Study Unveils Varied Perspectives of Different Age Groups on Digital Transformation Preparedness Among Singapore Workers

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The study provides insights into Singaporean workers’ attitudes towards digital transformation and company support.

SINGAPORE, Aug. 31, 2023 /PRNewswire/ — Reeracoen, a leading provider of human resource services in Singapore, and Rakuten Insight Global, an online market research subsidiary of Rakuten Group, have released results of their collaborative study. The research delves into the perspectives of Singapore workers from three different age groups to better understand how attitudes towards digital transformation have evolved and to evaluate the adequacy of company support in the context of accelerated global digitalisation efforts.

The COVID-19 pandemic has propelled companies worldwide to swiftly embrace digitalisation, requiring employees to adapt rapidly to new technologies. After more than three years since the outbreak, the survey aimed to assess whether Singaporean workers now consider themselves better prepared to navigate the realm of digital transformation.

Titled “Perceptions of Digitalisation in the New Normal World”, the study drew insights from 308 participants, with 39% (121 respondents) being Gen X and Baby Boomers, 38% (117 respondents) representing Gen Y, and 23% (70 respondents) from the Gen Z category.

Key Insights from the Study

From the integration of digital tools in workplaces to the proliferation of digital platforms in everyday life, it is easy to assume that awareness of digitalisation is widespread. Yet, the survey data underscores a notable gap in understanding among individuals, regardless of their age group. The survey also unearthed several key findings:

  • Awareness of Digitalisation: The survey indicated that less than half of the respondents were familiar with the term. Notably, a significant proportion of Gen Y respondents (45%) were unfamiliar with the concept. However, all generations indicated positive sentiments towards adopting digital transformation.
  • Company Readiness and Support in Upskilling: Most respondents believed their companies were prepared for digitalisation, with over 55% sharing this sentiment. Gen Z, often considered digital natives, exhibited the highest confidence at 63%. More than half of respondents felt supported by their companies to upskill. However, at least two-thirds across all demographics believed that Singaporean companies could still do more to help and embrace digitalisation.
  • Preferred Initiatives: While external training and time off work to upgrade were popular choices across the board, Gen X and Baby Boomers preferred the latter, with 41% choosing this option.
  • Responsibility for Digitalisation: Opinions on whether a specific department should helm digitalisation efforts were divided across generations. However, more respondents leaned towards a dedicated department for digitalisation. Gen X and Baby Boomers leaned towards the government (30%) and IT (29%) taking the lead, while Gen Y leaned towards IT (33%). A sizeable minority believed it should be a collective responsibility (21%). Gen Z favoured IT leadership (39%) and a government role (26%).
  • Familiarity with Upskilling Platforms: SkillsFuture emerged as the most recognised upskilling platform, familiar to over 73% of respondents in all three demographics. Workforce Singapore also garnered significant recognition. However, Gen X and Baby Boomers favoured Udemy and Microsoft Learn, while Gen Y and Gen Z preferred platforms like Grab and Microsoft Learn.

This study offers a comprehensive view of Singaporean workers’ evolving perceptions of digitalisation, equipping employers and job seekers with insights to navigate the digital age confidently. By understanding the perspectives of various generations, businesses can foster a cohesive working environment that adapts to the changing landscape of technology.

Mr. Kenji Naito, Group CEO of Reeracoen, shared, “Digitalisation is a defining force reshaping industries and economies. The COVID-19 pandemic accelerated this transformation, prompting businesses to reimagine operations and embrace technology. To remain relevant, companies must invest in upskilling and foster a culture of continuous learning.”

Empowering businesses to retain and attract talent adeptly is at the core of Reeracoen’s mission, and this study is an essential step toward achieving that objective. Through these insights, Reeracoen hopes to contribute to creating an enhanced working environment for employees nationwide.

Please click here to read the online report.

Reeracoen’s Group CEO, Mr Kenji Naito
Reeracoen’s Group CEO, Mr Kenji Naito

About Reeracoen Singapore Pte Ltd

Reeracoen Singapore Pte Ltd is one of Singapore’s leading recruitment agencies. Our extensive network allows us to source and match high-calibre talent to opportunities. Our clients enjoy peace of mind knowing that as part of the Neo-career group, Reeracoen is committed to delivering the same Japanese professionalism and service quality across our 10 offices in 6 Asian countries. For more information, visit https://www.reeracoen.sg/.

About Rakuten Insight Global, Inc.

Rakuten Insight Global, Inc. (“Rakuten Insight”) is a wholly-owned online market research subsidiary of Rakuten Group, Inc., a global leader in internet services headquartered in Tokyo. Rakuten Insight, established in 1997, has offices in 11 countries and regions, providing market research to over 500 leading companies worldwide. For more information, visit https://insight.rakuten.com/.

PR Newswire

New Study by Scientists at La Brea Tar Pits Finds Extinction of Ice Age Mammals Linked to Climate Change, Humans, and Fire

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LOS ANGELES, Aug. 18, 2023 /PRNewswire/ — Large-scale wildfires in an ecosystem made fire-prone by climate change caused the disappearance of saber-toothed cats, dire wolves, and other large mammals in southern California nearly 13,000 years ago, according to a new study by researchers at La Brea Tar Pits.

Published in the journal Science, the peer-reviewed study breaks new ground in a decades-long scientific debate over what triggered the Earth’s last major extinction. Supported by the precise dating of fossils preserved at La Brea Tar Pits, the research advances our understanding of the dynamics between dramatic environmental change, human population growth, wildfire activity, and the abrupt disappearance of Ice Age megafauna. 

“The significance of this research will resonate for decades well beyond the scientific field,” said Dr. Lori Bettison-Varga, President and Director of the Natural History Museums of Los Angeles County. “La Brea Tar Pits is the only place on Earth that has the fossil record necessary to examine the last significant climate change event in this way. The site’s collection of millions of Ice Age fossils provides a unique opportunity to study environmental change. 

The study laid out a disastrous chain of ecological events reconstructed from climate, vegetation, and fire records preserved in the sediments of nearby Lake Elsinore. It started with the gradual warming and drying of the landscape and a simultaneous decline in forest-adapted large herbivores over 2,000 years, as Earth emerged from the last Ice Age and glaciers receded. Then, just as human populations began to sharply increase in North America, the ecosystem underwent a dramatic change: temperatures rose rapidly, a 200-year-long drought parched the landscape, and massive wildfires transformed plant communities. Within 300 years, all the Ice Age giants at La Brea were gone, and California’s modern, fire-adapted chaparral ecosystem had appeared. 

Understanding the relationship between environmental change and human activity is equally important to current-day challenges, the study said. It noted that temperatures in Southern California have risen faster in the last century than they did during the late Pleistocene. Land area burned by wildfire in the western U.S. has increased four-fold in the past 20 years, and this pattern is only predicted to worsen in coming years.

Full press kit 

Media Contact:
Maura Klosterman-Vu
310-552-4117
maura.klosterman@finnpartners.com

PR Newswire

Genes Tech Group Announces 2023 Interim Results

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Total revenue reached approximately NTD749.51 million, representing an increase of approximately 25.63%

Revenue from the the turnkey solutions increased by approximately 59.74% to approximately NTD 373.37 million

Basic earnings per share were NTD7.66 cents

2023 Interim Results Highlights

  • Total revenue reached approximately NTD749.51 million, representing an increase of approximately 25.63%
  • Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD76.34 million
  • Revenue from the turnkey solutions increased by approximately 59.74% to approximately NTD 373.37 million
  • Basic earnings per share were NTD7.66 cents

HONG KONG, Aug. 11, 2023 /PRNewswire/ — Genes Tech Group Holdings Co. Ltd (“Genes Tech Group” or “The Group”, Stock Code: 8257.HK) announces its interim results for the six months ended 30 June, 2023 (“During the period”). During the period, the Group recorded the total revenue of approximately NTD749.51 million, Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD76.34 million. Basic earnings per share were NTD7.66 cents. 

During the period, revenue from the turnkey solutions amounted to approximately NTD373.37 million, representing an increase of approximately 59.74% as compared to the corresponding period of last year and accounting for approximately 49.81% of the Group’s total revenue. The revenue from trading of used SME and parts amounted to approximately NTD376.15 million, accounting for approximately 50.19% of the Group’s total revenue. During the period under review, revenue from the domestic business in Taiwan accounted for approximately 65.74% of the Group’s total revenue.

In 2023, the global semiconductor industry is facing a complicated operating environment affected by weak end market demand and continuous inventory adjustment. It denotes the start of a downward industrial cycle for the semiconductor market. According to the latest forecast report released by the World Semiconductor Trade Statistics (WSTS), due to the weak demand from smartphones and personal computers, the two major semiconductor downstream sectors, the global semiconductor sales forecast for 2023 is significantly revised downwards to USD515.095 billion, representing a decrease of 10.3% as compared to 2022, which is the first contraction since 2019. However, WSTS also points out that the demand in artificial intelligence (AI), industry, automotive electronics and other fields remains strong, which can make up for the weak demand for semiconductors in the consumer field. WSTS forecasts that global semiconductor sales will increase by 11.8% year-on-year to USD575.997 billion in 2024 and hitting a record high. According to the Semiconductor Equipment and Materials International (SEMI), it is estimated that global sales of SME by OEMs in 2023 will decrease to USD87.4 billion, representing a decrease of 18.6%. A strong rebound to USD100 billion is expected in 2024.

On the other hand, artificial intelligence (AI) will be a key area of the High-tech industry. The development and coopetition of the global semiconductor industry will remain in a state of change and complexity. The Group will pay close attention to the changes in the market environment, respond to market changes in a prudent and prompt manner to seize development opportunities, and actively explore market development opportunities.

Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: “In general, there is a differentiation in the consumer and industry, automotive electronics fields of the global semiconductor market. The growth in sectors including telecommunications, consumer electronics and data centers will slow down in the coming years due to the weak demand in the consumer sector caused by inflation and rising interest rates. Benefiting from the booming emerging industries such as new energy vehicles, autonomous vehicles (ADAS) industry, high performance computing (HPC), cloud infrastructure investment, industrial automation, artificial intelligence (AI), Internet of Things (“IoT”), metaverse and wearable devices, there will be a strong demand, driving a strong growth in automotive semiconductors and industrial semiconductors. The Group will increase its efforts in talent exploration, strengthen its innovation and R & D capabilities, and improve the core competitiveness of the Group to further expand market share and create long-term value for shareholders.

About Genes Tech Group Holdings Co. Ltd (Stock Code: 8257.HK)

Genes Tech Group Holdings Co. Ltd is turnkey solution provider and exporter of used SME and parts in Taiwan. Since the commencement of its business in 2009, the Group mainly engaged in providing turnkey solution of used SME and parts to its customers and modifying and/or upgrading the semiconductor equipment of its production systems according to customers needs. In addition, the Group is also engaged in the trading of used SEM and parts. The used SME and parts supplied by the Group included furnaces, clean tracks and other related items, which were used at the front-end of the semiconductor manufacturing process, wafer fabrication such as deposition, photoresist coating and development, and these were extensively applied in mobile phones, game consoles, DVD players, automotive sensors and other digital electronic products.

Source: Genes Tech Group Holdings Co. Ltd

PR Newswire

Amid record youth unemployment, over half of Arab youth in the Levant and North Africa want to emigrate for better opportunities: 15th annual ASDA’A BCW Arab Youth Survey

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DUBAI, UAE, Aug. 9, 2023 /PRNewswire/ — Over half of Arab youth in the Levantine and North African countries say they are actively trying to leave or are considering leaving their country for better opportunities. The desire to emigrate is strongest among young men and women in the Levant (53%) followed by North Africa (48%), with the primary goal of finding a job.

Over half of Arab youth in North Africa and Levant want to leave their home country
Over half of Arab youth in North Africa and Levant want to leave their home country

On the other hand, just over a quarter (27%) of youth in the Gulf Cooperation Council (GCC) states say they have considered emigration, with a majority saying they would ‘never leave their country.’

Most Arab youth say they would like to emigrate to Canada (34%), with the United States (30%) coming a close second, followed by Germany and the UK (both on 20%) and France at 17%.  

These are some of the key findings under the theme ‘My Aspirations’ in the 15th annual ASDA’A BCW Arab Youth Survey, the most comprehensive study of its kind of the Arab world’s largest demographic, its over 200 million youth, conducted by ASDA’A BCW, the Middle East and North Africa’s leading communications consultancy.

The desire to emigrate corresponds with the bleak economic outlook in many Arab nations. Nearly three-quarters (72%) of young Arabs in the Levant, and about two-thirds (62%) in North African countries surveyed  said their national economy is going in the ‘wrong direction’.

In the GCC, however, youth remain extremely optimistic, with nearly nine in 10 (88%) saying their country’s economy is headed in the ‘right direction’.

With youth unemployment in the Middle East exceeding 25% – the highest and fastest-growing in the world, according to the International Labour Organisation – getting a job is understandably a priority for young Arabs. Among those who said they are actively considering emigration, nearly half (49%) said the reason was to ‘look for a job.’

Despite their fears about their national economy, more than two-thirds (69%) of Arab youth believe their best days lie ahead of them, a 5% increase over 2022. Youth in the GCC are the most hopeful (85%), followed by those in North Africa (64%) and the Levant (60%).

Sunil John, President, MENA, BCW and Founder of ASDA’A BCW, said: “The increasing number of Arab youth seeking greener pastures abroad reveals two of their important characteristics: One, their disappointment in the lack of opportunities at home – for a good education and a successful career, and two, their eagerness to shape their own destiny.

“Youth emigration is a huge drain on the economy of the Arab world, which must be stopped if the region is to benefit from the youth dividend. The region is one of the youngest in the world with over 60% of its population, over 200 million, below the age of 30,” added John.

“Despite the bleak economies in North Africa and Levant, what shines through is the youthful exuberance of being optimistic of the future. This is evident in most young Arabs being defiantly hopeful about their chances for a better life. These findings underline that Arab countries must focus on creating the right enabling environment for young people to thrive – the responsibility for this lies with both the government and the private sector.”

ASDA’A BCW commissioned SixthFactor Consulting, a leading research company, to conduct face-to-face interviews with 3,600 Arab citizens aged 18 to 24 in their home nations from March 27 to April 12, 2023.

The initial findings of the 2023 edition of the ASDA’A BCW Arab Youth Survey, under the themes My Aspirations, My Global Citizenship, My Politics, My Livelihood and My Identity, are available with expert commentaries at arabyouthsurvey.com. The overarching theme of this year’s study is ‘Living a New Reality’.

Canada, US, Germany, the UK and France are the top destinations young Arabs like to move to
Canada, US, Germany, the UK and France are the top destinations young Arabs like to move to
PR Newswire

Medlinker’s MedGPT Performs 96% As Well As Top Human Doctors

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In a Livestreamed Real-World Assessment, MedGPT’s AI Doctors Rival Diagnostic Accuracy of China’s Leading Doctors

BEIJING, July 22, 2023 /PRNewswire/ — Medlinker, a leading digital healthcare company in China, undertook a real world comparison of AI doctors accessible through its MedGPT service and their human equivalents in Chengdu on June 30 2023.

The evaluation, streamed live, involved 120 real patients and ten attending physicians from West China Hospital, Sichuan University. Seven eminent physicians from leading Chinese hospitals reviewed and scored the results based on criteria including consultation accuracy, diagnosis, treatment recommendations, suggested additional examinations, data analysis, explanation provided to patients, and the use of natural language in patient interactions. Human doctors scored an average of 7.5 out of 10, while MedGPT scored 7.2. MedGPT’s recommendations were found to be 96% as good as those from top-tier physicians.

Launched by Medlinker on May 25 2023, MedGPT is China’s first homegrown medical large-scale language model founded on the Transformer architecture. Unlike general-purpose large-scale models, MedGPT was designed to provide practical diagnostic value in real medical scenarios, offering intelligent diagnosis and treatment capabilities throughout the entire process, from disease prevention to diagnosis, treatment, and rehabilitation. Medlinker’s ability to release a large-scale medical model ahead of its peers is the result of its accumulated expertise in artificial intelligence, big data, and internet-based healthcare. The world’s first real patient evaluation confirms Medlinker’s leadership in the research, development and application of medical large-scale language models.

The consultation session between doctor and patient was planned to fully ensure the impartiality and fact-based reliability of the evaluation, following a carefully established process:

  • The patient explained their medical situation, including symptoms and previous treatments, to the medical assistant;
  • The medical assistant relayed the collected information simultaneously to the human doctor and to MedGPT through online text input;
  • The medical assistant acted as the intermediary as doctor and patient completed multiple rounds of communication until sufficient information had been collected for a diagnosis;
  • Based on the information, the human doctor and MedGPT ordered specific follow-up examinations or, if the information provided was sufficient, provided a diagnosis to the patient;
  • If further examinations were required, the patient underwent examinations at the hospital;
  • After obtaining the examination results, the patient returned for a final consultation where MedGPT and the human doctor independently provided a clinical diagnosis and treatment.

Throughout the entire process, the human doctor and MedGPT worked independently with no sharing of information, to ensure that both were operating under the same conditions.

During the evaluation session, the medical experts on the panel were impressed by MedGPT’s performance. They generally agreed that MedGPT ensured medical accuracy by collecting sufficient information through multiple rounds of questioning, resulting in a relatively low probability of misdiagnosis or missed diagnosis. What was particularly surprising was that, unlike doctors specialized in one field, MedGPT could diagnose diseases outside its field of expertise and suggest a treatment program based on other clinical observations and factors, something that can be quite challenging to achieve in routine consultations undertaken by specialists. The panel concluded that MedGPT’s knowledge coverage surpassed that of human doctors with limited experience.

“The integration of AI doctors and telemedicine services is certain to disrupt the entire medical field,” said Wang Shirui, founder and CEO of Medlinker. “Looking into the future, we firmly believe that through Medlinker’s MedGPT, both the efficiency and the effectiveness of doctors will be vastly enhanced. At the same time, it will become possible to rapidly replicate high-quality medical resources and make them universally available. Furthermore, Medlinker’s telemedicine service network will be able to leverage MedGPT to provide more convenient, efficient and accessible medical services to a significantly larger pool of patients, vastly expanding medical inclusion, and taking a huge step towards solving the biggest dilemma facing the medical community today, providing medical services that are efficient and deliver meaningful treatment to the patient while remaining affordable.”

PR Newswire

LG Innotek published the 2022-2023 Sustainability Report

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  • Achieved 20% carbon neutrality within one year after the declaration and increased shareholder-friendly policies such as the 10% dividend payout ratio
  • Increased investment in R&D by 33% from the previous year to strengthen the competitiveness of future business

SEOUL, South Korea, July 21, 2023 /PRNewswire/ — LG Innotek (CEO Jeong Cheol-dong) announced on the 21st that it had published the ‘2022-2023 Sustainability Report’ that covers the performance of ESG (Environmental·Social·Governance) management.

LG Innotek published the 2022-2023 Sustainability Report
LG Innotek published the 2022-2023 Sustainability Report

LG Innotek achieved meaningful results previous year by performing substantial ESG management activities to enhance corporate value.

In the environmental field, LG Innotek joined ‘RE100’ and decided to use renewable electricity in all workplaces by 2030. At the same time, LG Innotek declared that it would achieve 100% Carbon Neutrality by 2040. LG Innotek also joined the Science Based Targets initiative (SBTi) to systematically carry out carbon neutrality activities.

LG Innotek has already achieved the goal quickly by recording the renewable electricity conversion rate of 22% (RE22) and carbon neutrality rate of 20%.

In 2022, LG Innotek received the ‘Minister Prize from the Ministry of Environment’ as the leading company in resource circulation in recognition of its efforts for resource circulation, such as the development of a waste management system, reusing process subsidiary materials, and reducing the use of plastic packaging materials.

Besides, Gumi, Pyeongtaek, and Gwangju plant of LG Innotek have obtained the ‘ZWTL (Zero Waste to Landfill)’ certification from UL(Underwriters Laboratories) Solutions, a global safety certification body. In particular, the Pyeongtaek plant acquired the highest grade ‘Platinum’ last year by achieving 100% resource circulation following the Gumi plant.

In the social field, there is noteworthy in this Sustainability Report that employees participated a lot of social contribution activities. Since the company’s online social contribution portal had launched in 2022, more than 3,000 employees have actively participated in various forms of social contribution activities, such as online donation funding and non-face-to-face volunteering.

LG Innotek was selected as the most excellent company for 6 consecutive years in the Win-Win Growth Index operated by Korea Commission for Corporate partnership.

Furthermore, LG Innotek received Grand Prize from the Great Place to Work in Korea Award in recognition of its excellent corporate culture.

In the field of governance, LG Innotek has focused on creating a transparent and sound business environment. As a result, LG Innotek received ISO 37301 (Compliance Management System) certification, Excellent Anti-corruption Company at the Business Integrity Society Summit (BIS) hosted by United Nations Global Compact (UNGC) Korea, and ISO 22301 (Business Continuity Management System) certification last year.

LG Innotek has also strengthened shareholder-friendly policies. In 2022, LG Innotek paid a total of KRW 98.2 billion as a dividend per share, which is a significant increase from the previous year (KRW 71 billion). As a result, LG Innotek successfully implemented its dividend policy of maintaining a dividend payout ratio of 10% or more until 2024.

In addition to ESG management, the Sustainability Report highlights LG Innotek’s various efforts to secure the competitiveness of future business.

LG Innotek invested KRW 752.8 billion in R&D last year to advance original technology and identify new value-added businesses in future growth areas. The amount had a 33% increase from 2021 (KRW 564.2 billion). During the same period, LG Innotek also expanded industry-university collaboration significantly by doubling the number of industry-university projects.

“LG Innotek will continue ESG management faithfully as ‘Global No.1 Material and Component Company’ that provides differentiated customer value.” said CEO Jeong Cheol-dong.

PR Newswire

Lunit’s AI-Powered Lung Cancer Screening Solution Significantly Affects Radiologists’ Diagnostic Determination – Published in Radiology

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– Recent study conducted by Seoul National University Hospital provides strong evidence that high-accuracy AI model improves radiologists’ chest X-ray analysis performance

SEOUL, South Korea, July 3, 2023 /PRNewswire/ — Findings from a recent study demonstrate that medical AI solutions with only high diagnostic accuracy can significantly improve the reading performance of radiologists.

Lunit's chest X-ray AI analysis solution 'Lunit INSIGHT CXR'
Lunit’s chest X-ray AI analysis solution ‘Lunit INSIGHT CXR’

Lunit (KRX:328130.KQ), a global provider of AI-powered cancer diagnostics solutions, today announced the publication of a study exploring the impact of medical AI solutions’ accuracy on radiologists’ diagnostic determination. The study, conducted by Seoul National University Hospital from December 2015 to February 2021, was recently published in ‘Radiology,’ a renowned peer-reviewed journal in medical imaging.

The study involved a cohort of 30 doctors, including 20 board-certified radiologists with 5 to 18 years of expertise and 10 radiology residents with 2 to 3 years of training. A total of 120 retrospectively collected chest radiographs were assessed, with 60 obtained from patients with lung cancer and the remaining 60 showing no abnormalities.

During the first session, the 30 readers were divided into two groups and analyzed 120 chest X-rays each without the assistance of AI. In the subsequent session, each group reinterpreted the images with the aid of either a high-accuracy or low-accuracy AI model.

The high-accuracy AI model utilized in the study was Lunit INSIGHT CXR, Lunit’s commercially available AI solution for chest X-ray analysis. In contrast, the low-accuracy model was trained using only 10% of the data available to Lunit INSIGHT CXR. The AUROC (area under the receiver operating characteristic curve), a commonly used metric for diagnostic accuracy, of Lunit INSIGHT CXR was 0.88, while the low-accuracy AI model only reached 0.77.

The study revealed that using the higher-accuracy AI model, Lunit INSIGHT CXR, significantly improved radiologists’ performance. The AUROC was remarkably advanced from 0.77 to 0.82 when assisted by the high-accuracy AI model.

Conversely, the radiologists from the other group did not experience any performance improvement when utilizing the low-accuracy AI model, as the AUROC remained at 0.75. Moreover, the group that employed the high-accuracy AI model demonstrated a higher susceptibility to AI suggestions. The radiologists accepted 67% of AI recommendations that contradicted the initial reading results, compared to 59% acceptance of the group that utilized the low-accuracy AI model.

Moreover, the study findings highlighted that factors such as radiologists’ individual expertise, experience with AI, or attitudes toward AI had negligible impact on their reading performance in the second session. Instead, the accuracy of the AI model and the radiologists’ initial diagnostic accuracy emerged as the primary determinant shaping the final diagnostic determination.

These findings underscore the significance of the AI model’s performance when radiologists use AI as a second reader. Furthermore, the study demonstrates how such AI assistance can increase radiologists’ susceptibility to AI suggestions, ultimately contributing to more accurate diagnoses.

“The study backs that irrespective of radiologists’ individual characteristics, the utilization of high-performance AI significantly enhances diagnostic accuracy and fosters a greater acceptance of AI within medical practices,” said Brandon Suh, CEO of Lunit. “At Lunit, we are committed to developing AI-powered solutions that not only improve patient outcomes but also augment the expertise of healthcare professionals. This publication is a testament to our dedication to advancing the field of cancer diagnostics through cutting-edge technology.”

Radiology, owned and published by the Radiological Society of North America (RSNA), is a prestigious publication with a distinguished Impact Factor of 29.146, making it the number one ranked journal in the field of medical imaging.

About Lunit

Lunit is a deep learning-based medical AI company on a mission to conquer cancer, one of the leading causes of death worldwide. Our focus is on developing AI solutions for precision diagnostics and therapeutics, ensuring the right diagnosis, and treatment, at the right cost for each patient. Lunit focuses on developing advanced medical image analytics and AI-based biomarkers via cutting-edge technology.

Founded in 2013, Lunit has been acknowledged around the world for its advanced, state-of-the-art technology and its application in medical images. Its technology has been recognized at international AI competitions surpassing giants like Google, IBM, and Microsoft. As a medical AI company grounded on clinical evidence, the company’s findings are presented in major peer-reviewed journals such as the Journal of Clinical Oncology and JAMA Network Open, and global conferences including ASCO and AACR.

After receiving FDA clearance and the CE Mark, our flagship products, Lunit INSIGHT CXR and Lunit INSIGHT MMG, are clinically used in approximately 2,000 hospitals and medical institutions across 40+ countries. Lunit is headquartered in Seoul, South Korea with offices and representatives worldwide.