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  • MIL-OSI Video: UK What is the government doing to prevent former prisoners from reoffending? | House of Lords

    Source: United Kingdom UK House of Lords (video statements)

    Members quizzed the government on it’s early prison release scheme in this highlight from the chamber. Watch for more.

    Read a transcript of this question https://hansard.parliament.uk/lords/2024-10-21/debates/D30123ED-386C-4BF8-9C41-671133BFB868/PrisonersEarlyReleaseScheme

    Catch-up on House of Lords business:

    Watch live events: https://parliamentlive.tv/Lords
    Read the latest news: https://www.parliament.uk/lords/

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    https://www.youtube.com/watch?v=nPpwYTRAOQU

    MIL OSI Video –

  • MIL-OSI USA: Attorney General James Announces Convictions of Orange County Transportation Company Owners for Stealing More Than $2.1 Million from Medicaid

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James today announced that the owners of DYD Universe, Inc. (DYD), a New York Medicaid-enrolled transportation company, have pleaded guilty for their roles in a scheme that stole more than $2.1 million from Medicaid and paid illegal kickbacks to Medicaid recipients. Damir Yuldashev, 64, his son Daler Yuldashev, 38, and Daler’s mother Nigina Iskandarova, 60, all of Monroe, New York, admitted that from April 2018 to March 2023, they stole more than $2.1 million from Medicaid by submitting fraudulent claims for services that they knowingly did not provide and toll charges that they knew were not incurred. The owners also admitted to paying illegal kickbacks to Medicaid recipients in exchange for providing DYD with their confidential Medicaid identification in order to carry out the scheme. As a result of the pleas, Damir Yuldashev will be sentenced to two to six years in prison and, along with Daler Yuldashev, must pay back over $2.1 million to Medicaid. Daler Yuldashev and Nigina Iskandarova will be sentenced to probation, and all three defendants will be permanently banned from being providers in all government-funded health programs. 

    “Stealing taxpayer funds that are meant to provide health care for low-income New Yorkers is unacceptable,” said Attorney General James. “Instead of providing vulnerable patients with the transportation services they needed to get them to their appointments, these individuals exploited Medicaid recipients to carry out their fraud. I will not tolerate schemes like these that damage our health care system, and my office will continue to go after fraudsters who steal from Medicaid.”  

    Medicaid recipients who lack access to transportation can use approved transportation providers to travel to and from covered medical services. These providers receive reimbursements from Medicaid for the rides they provide. From April 2018 to March 2023, Daler and Damir Yuldashev billed Medicaid for fictitious trips and added fake tolls to their trips to inflate their costs. DYD’s claims often added toll charges from $15 to as much as $50 when the trip did not actually incur any tolls at all. As a result of their scheme, DYD illegally overcharged Medicaid more than $2.1 million.

    To carry out their scheme, the defendants paid Medicaid recipients to sign up with DYD and use fake addresses or drive themselves to their appointments, allowing DYD to either inflate or submit entirely false claims for transportation to Medicaid. These payments were illegal and undermined the businesses of other transportation providers in the Hudson Valley. Some passengers were paid thousands of dollars each to take rides that allowed DYD to collect tens of thousands of dollars in fees per passenger.

    All three defendants pleaded guilty in Orange County Court in front of Judge Richard Guertin. Damir Yuldashev pleaded guilty to Grand Larceny in the First Degree, a class B felony. Daler Yuldashev pleaded guilty to Grand Larceny in the Third Degree, a class D felony. Nigina Iskandarova pleaded guilty to violating New York’s anti-kickback statute, Social Services Law section 366-d, a class E felony. DYD also pleaded guilty to Grand Larceny in the First Degree.

    Damir Yuldashev faces a sentence of two to six years in state prison. Daler Yuldashev and Nigina Iskandarova, both of whom played lesser roles in the scheme, will be sentenced to probation, with Daler Yuldashev required to perform at least 1,200 hours of community service. As part of their sentence, Damir and Daler Yuldashev must pay $2,127,624 to Medicaid in restitution for their crimes. If they fail to pay restitution as ordered by the Court at sentencing, Damir and Daler Yuldashev will be required to serve additional time in state prison. As a result of their convictions, each defendant is also permanently excluded from being a provider in all government-funded health programs, including Medicaid and Medicare.

    The Office of the Attorney General thanks the New York State Department of Health and the Office of the Medicaid Inspector General for their assistance in this investigation.

    This matter was investigated by Detectives Peter Olsen and Frank Bluszcz with assistance from Supervising Detective Jeffrey Pitts. The financial analysis was conducted by Principal Auditor-Investigators John Annunziata, Lora Pomponio, and Melissa Stoebling, and Senior Auditor-Investigator Christopher Giacoia. Legal Support Analyst Kelvin Caraballo provided paralegal assistance.

    The case was handled by Special Assistant Attorneys General Eva Urrutia and Robert Trudell, and the MFCU Pearl River Regional Office Regional Director Todd Pettigrew, with assistance from MFCU Chief of Criminal Investigations Thomas O’Hanlon and Deputy Chief of MFCU’s Civil Enforcement Division Konrad Payne.  Alee Scott is MFCU’s Chief of the Civil Enforcement Division. MFCU is led by Director Amy Held and Assistant Deputy Attorney General Paul J. Mahoney. The Division of Criminal Justice is led by Chief Deputy Attorney General José Maldonado under the oversight of First Deputy Attorney General Jennifer Levy.

    Reporting Medicaid Provider Fraud: MFCU defends the public by addressing Medicaid provider fraud and protecting nursing home residents from abuse and neglect. If an individual believes they have information about Medicaid provider fraud or about an incident of abuse or neglect of a nursing home resident, they can file a confidential complaint online or call the MFCU hotline at (800) 771-7755. If the situation is an emergency, please call 911.

    New York MFCU’s total funding for federal fiscal year (FY) 2025 is $70,502,916. Of that total, 75 percent, or $52,877,188, is awarded under a grant from the U.S. Department of Health and Human Services. The remaining 25 percent, totaling $17,625,728 for FY 2025, is funded by New York State.

    MIL OSI USA News –

  • MIL-OSI USA: Governor Hochul Participates in Axios Fireside Chat

    Source: US State of New York

    Earlier today, Governor Kathy Hochul participated in Axios’ Fireside Chat with Dan Primack. Axios is an American news website based in Arlington, VA. It was founded in 2014 and launched the following year by former Politico journalists Jim VandeHei, Mike Allen and Roy Schwartz. Axios’ BFD is a half-day event where reporters will convene industry leaders to unpack their hyper-relevant news and trends. This event offers attendees an inside track into some of the biggest topics on investors’ minds.

    VIDEO of the event is available on YouTube here and available in TV quality (h.264. mp4) format here.

    AUDIO of the Governor’s remarks is available here.

    PHOTOS of the event are available on the Governor’s Flickr page.

    A rush transcript of the Governor’s remarks is available below:

    Dan Primack, Axios: As I’ve said a couple of times from this stage, we are a couple of weeks away from an election, so it felt apropos that we should have an actual politician on stage — not just somebody talking about politics. So please welcome the Governor of New York, Governor Kathy Hochul.

    Governor Hochul: An actual politician?

    Dan Primack, Axios: An actual politician. Sorry, is that offensive?

    Governor Hochul: I prefer an elected official. It sounds a little nicer, but if you have to call me a politician, I’ve been called worse.

    Dan Primack, Axios: Alright. So, governor, you’ve said — Governor’s Office says — but you’ve said you want to make New York the most business friendly state in the country. How do you gauge that? What’s your metric for that?

    Governor Hochul: Well, sometimes it’s not what you do, it’s what you stop from happening. Like a major tax increase on high net worth people that I was able to, you know, stop in its tracks last year. Because I’m not in the business of driving successful people out of our state, I want to bring them back to the State. And so, it’s also, it’s economic policies, it’s also saying that, you know, “We’re going to break down some barriers for you and we’ll be there with financial incentives.” And we’ll talk about Micron, I presume, but there’s no way Micron was going to build the nation’s largest semiconductor facility — $100 billion of investment, the largest in our history, with 50,000 jobs — if there weren’t incentives from the Biden-Harris Administration. But that just meant that all 50 states could compete. I had to win that war and put $10 billion on the table for that entire industry. So you have to have incentives in place, you have to go after the businesses you want, and now I’m going after the whole supply chain to support Micron and others who are coming. So, it’s very intentional. You don’t say, “We’re in New York. Everybody’s going to come,” because we’re in a competitive race and I’m a very competitive person. So I don’t want to lose that and I’ll do whatever I have to do to make sure people know that we are the place, and I’ll be judged by how many jobs we create. I’m starting off with 50,000 right there, so I’m already ahead of the game.

    We’ve also created more manufacturing jobs, stopping a 30 year decline in manufacturing. Now we’re talking about advanced manufacturing. So, we have the evidence to show that in the three years I’ve been governor, really putting the focus on this, we’re seeing results already.

    Dan Primack, Axios: How do you, you know — a big part of what you’re working on, and we’ve heard a bunch today about this Empire AI Initiative. And as part of this, you got about $275 million from the State and there’s another $150 million from the private sector. It’s an enormous amount of money. However, it’s also less than 10 percent, say of what OpenAI, a California company, raised in the private sector on its own just two weeks ago. Can companies in New York compete with what’s happening in Silicon Valley when you see — in AI — when you see the enormous amounts of money going into these companies?

    Governor Hochul: I’m not competing with the private sector to own AI. My view is — as I announced in my State of the State last January — that whoever owns this next chapter of AI for public good will own everything. So what we have —

    Dan Primack, Axios: What does that mean for public good?

    Governor Hochul: I will be very happy to tell you. I was just at the University of Buffalo two weeks ago with Marilyn Simons and Tom Secunda — the individuals who helped us innovate this, which no other state in the nation has entertained. I can tell you that Microsoft and OpenAI — they have amazing supercomputers dedicated to AI for their own profit; for the private sector. But we said, “We want to democratize AI, make it available to solve society’s problems, innovate new cancer therapies, help us predict weather better than we have been, so I know when that storm is coming and what I can do to prepare for it,” and all kinds of social problems that we can solve by being creative. So what I decided to do is put $275 million with the Legislature’s support — and that’s not always the easiest thing to do — then convince them to let go of that money and really take a leap of faith with me. But then the private sector raised $150 million — but we have university partners. This is what sets us apart. I have Cornell and NYU and RPI and Flight Iron Institute, Columbia, CUNY and SUNY schools all have bought into this, so they get a piece of the action. Their researchers, their students can use the power that I’ve created at a place called Buffalo, New York — where I’m from — and that is going to power the whole state’s research. And so nobody else touched this.

    Dan Primack, Axios: Are you — and you mentioned Buffalo, New York, and we were talking backstage — are you concerned about the power needs for this supercomputer and other AI projects in the State?

    Governor Hochul: Well, I picked Buffalo for a variety of reasons — and we just announced another supercomputer at the University of Albany — but because power is less expensive Upstate, It’s more plentiful; space is less expensive. So it’s all being used across the State. But as far as its home — I have Niagara Falls, which has been powering our state since since the original Tesla. So, we’ve been doing this since the turn of the last century.

    So, I’m always concerned about capacity though as we’re attracting more and more, you know, large data centers and the supply chain companies that are now rushing to New York. I mean, I’ve been bringing companies from all over the world to Upstate New York now because of this whole innovation ecosystem we’re creating. But I have to focus on — not just our wind and solar and hydro and geothermal — but we’re going to have to look at other sources as well and be real aggressive about it because the states that are leaning into the energy sources are the ones that’ll win the race and we cannot lose that.

    Dan Primack, Axios: From your perspective, what is the biggest mistake businesses make when dealing with New York State government?

    Governor Hochul: When they’re dealing with our state government they have to have more skin in the game, and I want them to be fostering our social goals. And let me explain why Micron was so attractive to us: I’m a mom. I used to work on Capitol Hill for Senator Moynihan a long time ago. When my kids were born, I had no child care, had to leave the workforce for a while. We talk to companies like Micron and we say, “We want a number of things from you. We’ll help you. We want you to provide child care on site.” A lot of companies would say, “I’m not sure.” I said, “Do you want to diversify your workforce? Would you like to get more women? Would you like to get young women? Would you like to have it be a family friendly place?” Guess what they’re building right now? A child care center on site. We want them to draw from the neighbors, the neighboring communities that are underserved — the City of Syracuse. We want you to put in workforce development programs. We’re literally changing the curriculum in nine counties around where Micron will go, working with our teachers union, to say, “We’re going to teach young people coding and other computer science skills while they’re still in grade school and high school.”

    So when Micron says, “Why would we come to Upstate New York?” You’re asking me to do all these things to further your social goal. But this is for your workforce. You’ll have a workforce that is not transitional. You’re not always going to have to be hiring someone. They’re not going to leave you after 18 months. They will stay. And that is part of the culture of Upstate New York, where I’m from, with the legacy industries, like the Bethlehem Steels — where my dad and grandpa worked — and Kodak and Bausch and Lomb. I say to them, “One of the drivers of why people should be coming to New York State is that we have a workforce that is brilliant. But also, they’ll stay with the company unlike what happens in other parts of the United States.”

    Dan Primack, Axios: Let me tie two things together. You talked about skin in the game and you’ve talked about Buffalo and Upstate New York. One of the biggest deals I guess you’ve done as Governor is getting the stadium financing deal done for your Buffalo Bills. I will say your Buffalo Bills.

    Governor Hochul: No, no. The only team that plays in New York.

    Dan Primack, Axios: Fair enough. The only team that plays in New York.

    Governor Hochul: Okay, and I love my other teams too, but just —

    Dan Primack, Axios: Fair. Look, I’m from Boston, I — good, yeah, slam the Jets and the Giants, I’m good with this.

    Governor Hochul: You want to go there? Okay. How are the Red Sox doing? How are the Red Sox doing?

    Dan Primack, Axios: We don’t waste our money. Okay, so we — let me just ask though — when you talked about skin in the game, the package for the new Bills stadium is the most public financing ever for a football stadium in the U.S. Why don’t the taxpayers of New York get some skin in the game themselves? Why was there talk about negotiating some actual equity for the State of New York in this team?

    Governor Hochul: Here’s what I’m going to explain to you: Look at the more recent data. This is not the largest subsidy for a team.

    Dan Primack, Axios: But it’s huge. Let’s just stipulate very big.

    Governor Hochul: Well, in proportion to the cost. And I was very smart when I negotiated this because I said, “There’s no cost escalation for the State.” So we’re in for $650 million of what’ll be well over a $2 billion stadium. The State of Tennessee kicked in a billion for their stadium. So we’re not in that league. But also, what happened was it wasn’t just waking up one day and — oh, let’s do a new stadium. They had a lease that expired. Other states were looking to recruit them. I know this for a fact. It’s a small market, the Buffalo Bills, there’s companies, states and cities that were luring them. I had to close the deal, because this is part of the identity of most of Upstate New York. Most of Upstate New York affiliates with this team, and this is important — an economic driver as well. We get a return on investment. After 17 years, I will have paid back that $650 million just in the income tax on salaries from the players.

    Dan Primack, Axios: In that amount of time, the value of the team could be five times what it is now, and it’s the owner of the team who’s going to get to benefit the most.

    Governor Hochul: Well, I’ve made sure that they are a Buffalo Bills team, not one of the other five cities that I was in competition with. Remember, I don’t lose anything — we don’t lose. This is an economic decision and the money will be paid back in 17 years, or perhaps sooner the way the salaries are going.

    Dan Primack, Axios: Let me ask something else about balancing because you’ve talked about balancing, which is obviously the New York City congestion tax, or the congestion fee, rather, which you decided to kill shortly before it went into impact. How do you balance economic needs of the City and of the State with your climate goal?

    Governor Hochul: Again, I’m going to correct a word here — kill versus pause.

    Dan Primack, Axios: Okay, indefinitely pause. Is that indefinite going to come off?

    Governor Hochul: I never used the word indefinitely. Those are people who are criticizing my decision to say that at this point — when we are dealing with escalating inflation, which was not even a factor — this is the first time in four years that inflation has really been a real burden for New Yorkers.

    Fifteen dollars to start out of the blue. All of a sudden, turn it on — it didn’t take into consideration how New Yorkers are struggling right now. So, I said we’re going to put this on a pause for now, because I also have many other energy goals and climate goals that I’m focused on, but that does not mean it is dead. I know how to kill something. I did not kill it.

    Dan Primack, Axios: You’ve said there’d be — I think you said, and correct me if I’m wrong — there’d be a replacement plan by year-end. Is that still on target?

    Governor Hochul: Yes. We have until the year-end.

    Dan Primack, Axios: You have until year-end. Do you expect that by year-end, there will be a replacement plan?

    Governor Hochul: I will have revealed, to the world, the strategy that we’ve been working on for a long time with the Legislature, which is also involved. I want to be clear on that. The Legislature is not in session right now, but that was a decision that was based on the fact that $15 is too much for New Yorkers right now. And, even London — that people tout and look at what they did in London — they started at €8 at the time and gradually, over time, went up to that, so there’s not a shock to the system.

    And, also, I’m focused on bringing the City back. People can work remotely, right? This wasn’t even an option when this congestion pricing was put in place in 2019. It wasn’t even an option. Of course you’re going to come to work. And it’s $3,800 more a year at $15.

    That’s a lot for a teacher, or a health care worker, or a delivery person coming in from Queens or a plumber coming into town. So, I’m just the kind of Governor that’s going to look at the impacts of decisions — who’s being hurt by this? Can they defend themselves? Do they have lobbyists? Do they have access to the editorial boards? No, these folks don’t. I was their voice, but I’m also saying, I am so vested in making sure that we achieve our climate goals because I believe in them.

    I grew up in a toxic environmental dump. The air was orange when I was growing up because of the smoke billowing out of the steel plant, which created 20,000 jobs, but nobody cared about the environmental impact. So, I’m going to make sure that New York continues to be nation leading and achieving our energy goals, our climate goals.

    Dan Primack, Axios: Do you feel the remote work or the hybrid work revolution — call it post-COVID — do you feel that’s changed Manhattan permanently?

    Governor Hochul: Yes. Yes, it has. But we can always reimagine Manhattan just like we did after 9/11 — and, I give Mayor Bloomberg a lot of credit for what he did during that era. When you look at this place, people did not live in lower Manhattan, they worked there but they never lived there. Now, it is a thriving 24/7 community.

    We can do that in Midtown as well, and I’m convinced of this — that we can take with the laws I had to change because you couldn’t convert commercial into residential without a change in the law that I was able to secure just a few months ago. Now developers can look at a commercial building in Midtown and say, “You know what? It’s only 30 percent full. I’m not sure people are coming back. Let’s convert it into housing.”

    Now I’ve got more affordability because I’ve created supply, which is everything.

    Dan Primack, Axios: You mentioned Mayor Bloomberg. Let me ask about a more recent, current mayor. Business people talk all the time about wanting certainty. They often do it for their own purposes. How is it problematic for New York City’s business particularly, to have a mayor who is under indictment?

    Governor Hochul: I speak to business leaders all day long, including this morning over a breakfast meeting. Some significant leaders. And I asked them that question: How are you feeling? And the answer was, “Well, three weeks ago, it was a hair on fire moment.” And I’ve stepped in to offer the stability to say, we’ll work with the Mayor to get through this because I come from a business family. I know uncertainty is paralyzing, but they are expressing to me that they now have confidence, there’s been changes in the administration.

    They know that I’m keeping an eye on this situation because I want the City — and I represent 8.3 million New York City residents as well. These are my constituents. We will make sure that their services are provided. They will not see a disruption in what they’re accustomed to getting because they deserve to have the best. And I’m watching all this.

    Dan Primack, Axios: You obviously originally were running mates, or you served under former Governor Cuomo. There’s lots of talk about him possibly running for mayor here. I’m not asking, obviously, who you would endorse. I’m asking, should voters consider him as a viable candidate if he chooses to run, given what happened in the past and some of the things you’ve said about what he did in the past?

    Governor Hochul: I’m not here to pass judgment on people right now. But I will say this: New Yorkers deserve people with integrity and accomplishments and who do things for the right reasons. Who will do it for the benefit of the people and not their own self-serving reasons. So I will be looking for people like that.

    Right now we have a mayor — we have an elected mayor of the City of New York. Everything could change or everything may not change. But we do know we have an election two weeks from now. Two weeks from now. And that is the one that we’re focused on, as well as my intensive, intensive work — not just for Kamala Harris.

    I just got back from seeing her in Michigan and we were in Pennsylvania, but here in New York, we have the opportunity to give President Kamala Harris a Democratic House Representatives. And I am laser focused on making sure Hakeem Jeffries, our very own New Yorker who knows our community and its needs and knows I’m going to need money for the MTA for example. Give me more money for public transit. That’s my number one ask. I have to make sure we pick up some seats in the Hudson Valley. And in Long Island, I just came in from Long Island just a little short time ago. And, you know, the polls are showing that areas that were written off, are now in place. So the world is going to change in two weeks.

    Dan Primack, Axios: Let me ask one quick final question because we are out of time. You have said you are, I think the term was “Not going anywhere.” Plan to run for reelection here. If Kamala Harris wins the White House and she calls you up, says, “Governor Hochul, we would like you to come down to D.C. and serve as secretary of X.” Are you going?

    Governor Hochul: I’m going to say this and you can quote me 1,000 times: “President Harris, I’m honored that you’d consider me to join your brand new administration — historic. I’m so excited about you, but I’m going to do better for you continuing as the Governor of New York because you’re going to need allies in our state houses to make sure that we continue the great partnership that I’ve had with the Biden Administration. And I’m not going anywhere.”

    Dan Primack, Axios: Governor. Thank you. Appreciate it

    MIL OSI USA News –

  • MIL-OSI: AppFolio Unveils FolioSpace™ to Transform the Resident Experience and Help Customers Build Thriving Communities, Acquires LiveEasy to Accelerate its Vision

    Source: GlobeNewswire (MIL-OSI)

    FolioSpace gives AppFolio property management customers new ways to deliver exceptional value and experiences to their residents

    AppFolio acquires LiveEasy to integrate convenient moving and home services into FolioSpace

    SANTA BARBARA, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — AppFolio (NASDAQ: APPF), the technology leader powering the future of the real estate industry, today unveiled FolioSpace™, a next-generation resident experience that redefines how property managers and renters connect throughout the entire resident journey. FolioSpace will enable AppFolio’s 20,000 property management customers to create a unified and elevated experience for the millions of residents they serve — from application through renewal.

    To accelerate its resident vision, on October 22, 2024 AppFolio acquired all of the outstanding shares of LiveEasy, a concierge platform providing moving and home services. By vertically integrating LiveEasy and offering its services as part of FolioSpace Resident Onboarding, AppFolio will reduce the stress of moving, deliver increased convenience, and save renters time and money.

    FolioSpace: Reimagining How Property Managers Engage with Residents

    A recent AppFolio survey reveals residents expect timely communication, on-demand digital experiences, and support during the move-in process. However, traditional resident management approaches often fall short, limiting operational efficiency and resident satisfaction. Meeting these expectations is critical for property managers to gain an edge in an increasingly competitive market.

    FolioSpace reimagines how property managers engage with residents by bringing the entire resident journey into one application. By streamlining tasks and communication, FolioSpace replaces traditional manual processes with intuitive digital workflows, including:

    • Resident Application & Screening: A seamless application and approval process for applicants while providing property managers the data they need to select trusted residents and protect themselves from fraud.
    • Resident Onboarding: A configurable digital checklist to streamline leasing and welcome new residents, plus with LiveEasy, access to savings and dedicated support in setting up their utilities, internet and cable, and moving services.
    • Resident Services Marketplace: A collection of essential services to improve residents’ living experience, while also creating value for property managers.
    • Resident Inbox: A reimagined inbox gives residents a central location to communicate with their property managers for everything from maintenance requests to leasing questions. Property managers can use AppFolio Realm-X Messages, which leverages the power of genAI, to help them sort through, act on, and respond to routine resident communications.

    “We envision a world where living in communities feels magical and effortless, freeing people to thrive,” said Chris Womack, Chief Growth Officer of AppFolio. “By welcoming LiveEasy and enhancing AppFolio’s one powerful platform through FolioSpace, we are taking an important step on our journey of delivering exceptional value and experiences to our property management customers and the residents they serve.”

    “LiveEasy’s mission is to provide surprisingly simple moving and living experiences that combine technology and human touch for renters and homeowners,” said Venkatesh Ganapathy, CEO of LiveEasy. “With AppFolio’s commitment to innovation and expansive footprint, we believe this combination will propel that mission and enable us to exceed the expectations of both current and new customers.”

    For More Information

    • Learn more about FolioSpace
    • Register for FUTURE Conference next week in San Diego to attend sessions focused on the resident experience:
      • “The Resident Experience Revolution: Leveraging Tech to Enhance Engagement and Retention”
      • “First Impressions Count: Revolutionizing Resident Onboarding with Digital Excellence”
      • “Stand Out from the Competition: 2024 Renter Preferences Research Insights”
    • Watch the FUTURE opening mainstage event broadcast on LinkedIn Live on Tuesday, October 29 at 9:00am PT.

    The transition to FolioSpace will be seamless for existing users of AppFolio’s current Resident Portal, requiring no new download or account creation. AppFolio will proactively work with customers to jointly bring the new experience to residents.

    Additional Acquisition Information

    LiveEasy is the trade name of Move EZ, Inc., which AppFolio acquired via merger for approximately $80 million, subject to customary adjustments.

    About AppFolio

    AppFolio is the technology leader powering the future of the real estate industry. Our innovative platform and trusted partnership enable our customers to connect communities, increase operational efficiency, and grow their business. For more information about AppFolio, visit appfolio.com.

    About LiveEasy

    LiveEasy is the country’s most comprehensive home services platform. LiveEasy partners with a range of businesses, including property management, brokerage, mortgage, home inspection, insurance, and more. Its turnkey solution enables businesses to customize, brand, and embed home services solutions into their workflows so they can offer a true end-to-end moving and home services solution to renters and homeowners. For more information about LiveEasy, visit liveeasy.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements that are not statements of historical fact contained in this press release, and can be identified by words such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “future,” “predicts,” “projects,” “target,” “seeks,” “contemplates,” “should,” “will,” “would” or similar expressions and the negatives of those expressions. In particular, forward-looking statements contained in this press release include statements relating to the potential benefits and effect of the FolioSpace resident application and the acquisition of LiveEasy and their impact on AppFolio’s plans, objectives, expectations and capabilities.

    Forward-looking statements represent AppFolio’s current beliefs and expectations based on information currently available and speak only as of the date the statement is made. Forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors that may cause AppFolio’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The risks, uncertainties and other factors that may cause actual results, performance or achievements to materially differ from those expressed or implied by these forward-looking statements include AppFolio’s ability to successfully launch the FolioSpace resident application and integrate the LiveEasy business, AppFolio’s ability to implement its plans, objectives and expectations with respect to the FolioSpace resident application and the LiveEasy business, negative effects of the announcement of the FolioSpace resident application and/or the Live Easy acquisition on AppFolio’s business operations, operating results or share price, and unknown liabilities associated with the acquisition as well as those risks, uncertainties and other factors described in the section entitled “Risk Factors” in AppFolio’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed with the SEC on February 1, 2024, and the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in AppFolio’s most recently filed Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as well as in its other filings with the SEC. You should read this press release with the understanding that AppFolio’s actual future results may be materially different from the results expressed or implied by these forward-looking statements.

    AppFolio undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ca49f9fd-edcc-4d48-b939-91518d73ceee

    The MIL Network –

  • MIL-OSI: Microsegmentation Trailblazer Illumio Achieves ISO 27001 Certification

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — Illumio, Inc., the Zero Trust Segmentation (ZTS) company, today announced it has achieved ISO/IEC 27001:2022 (ISO 27001) certification. This certification represents Illumio’s continued commitment to meeting the highest levels of global security standards​. Certification was issued by Schellman Compliance LLC following an extensive audit of Illumio’s ZTS platform, which includes Illumio Core®, Illumio Endpoint®, Illumio CloudSecure® and Illumio for Microsoft Azure Firewall.

    “Illumio is committed to prioritizing data security for our customers, partners and suppliers. Achieving ISO certification right after our recent FedRAMP authorization exemplifies our ongoing commitment to excellence and security,” said Ben Verghese, Chief Technology Officer at Illumio. “By following a structured framework and constantly advancing our practices, we ensure sensitive data is well-protected, building continued trust and a safer tomorrow.”

    ISO 27001, from the International Organization for Standardization, is a globally recognized standard for the establishment and certification of an information security management system (ISMS). ISO 27001 certification shows that Illumio’s services align with internationally recognized best practices for information security management and security controls. ​Illumio extended their ISO 27001 certification to include the ISO/IEC 27701:2019 (ISO 27701) standard, demonstrating that the company’s services align with internationally recognized best practices for privacy information management system (PIMS) in the role of a personally identifiable information (PII) processor.

    Illumio is purpose-built to prevent lateral movement by attackers once they breach an organization. The Illumio ZTS platform enables organizations to identify security gaps in real-time and contain attacks across cloud, data center, and endpoint environments. Combined with the power of AI, the ZTS platform simplifies the creation of security policies and enhances segmentation controls, equipping teams to isolate breaches by reducing and restricting lateral movement either proactively or in response to an attack.

    To learn more about Illumio’s commitment to security, visit here for a complete list of certifications or read The Forrester Wave™: Microsegmentation Solutions, Q3 2024 report.

    About Illumio
    Illumio, the most comprehensive Zero Trust solution for ransomware and breach containment, protects organizations from cyber disasters and enables operational resilience without complexity. By visualizing traffic flows and automatically setting segmentation policies, the Illumio Zero Trust Segmentation Platform reduces unnecessary lateral movement across the multi-cloud and hybrid infrastructure, protecting critical resources and preventing the spread of cyberattacks. 

    Contact Information
    comms-team@illumio.com

    The MIL Network –

  • MIL-OSI: New Asia Holdings Inc (NAHD) Announces Shareholder Update

    Source: GlobeNewswire (MIL-OSI)

    Electra, Oct. 23, 2024 (GLOBE NEWSWIRE) — New Asia Holdings Inc./Olenox Corp. (NAHD” or the Company) (OTCQB: NAHD), announces a shareholder update.

    Corporate Developments

    The company continues to work on its consolidated audited financials and expects to be completed and filed by the end of November and is on target to complete and file them by then.

    New Asia has also been working in the background with its capital stock to meet the OTC market requirement of a 10% public float by reducing the outstanding shares.  The company was removed from OTCQB in mid-August for not having 10% of its stock in the public float. The company now meets those requirements and currently has 12.7 percent of its outstanding shares in the float.

    Olenox is a fully integrated energy company that produces responsible energy products both traditional and renewable.  Our continued focus on carbon footprint reduction and streamlined oil and gas production not only benefits the environment and local communities but also add value to Olenox bottom line.

    The company continues as well to work towards our green initiative to produce carbon-neutral products as well as integrate solar and other renewable technologies into our daily oil and gas production operations.

    Acquisitions

     

    On August 13th, 2024, New Asia announced it had purchased 162 miles of Texas pipeline from Taylor Consulting.  The company is currently looking to bring the pipeline back into production and working with the anchor customer to renew takeoff agreements.  An existing agreement is in place for 55,000 MCF per month and the company is looking at several other projects that could be attached to the pipeline including power generation and bitcoin mining operations.

    On August 8th, 2024, New Asia/Olenox announced that its wholly owned Olenox Kansas has been selected to operate 181 natural gas wells in the Bradshaw portion of the Giant Hugoton Field in Kansas.  The company continues to bring on production and is working towards the goal of having half the field in production by Q1 2025.   The company to date has brought back 32 wells into production and is now working on abandoning 3 wells to meet the contract requirements for the year.

    New Asia/Olenox continues to work on several other acquisitions and is in the final stages of purchase negotiations with 2 of the 4 currently under consideration.

    Technology

    Olenox continues to develop its technologies and is pushing its downhole tooling forward.  Modifications were needed for both the Plasma pulse tool and the ultra-sonic tool to meet industry standards in Texas and the company will begin to use the technology in our field in the coming months.

    About Olenox Corp.
    Olenox Corp.is a diversified energy company based in the state of Texas that currently operates three vertically integrated business units – Oil and Gas, Energy Services and Energy Technologies.

    • Oil and Gas: focuses on acquiring and optimizing underdeveloped oil and gas assets in Texas, Kansas and Oklahoma. It employs both internally developed and third party-licensed technologies to increase production, optimize performance and reduce costs. Olenox currently operates several oil and gas properties in Texas and Kansas.
    • Energy Services: This business unit supports Olenox’s overall exploration and production efforts with “well services” and “end of life reclamation.” Olenox Energy Services owns and operates a combination of customized service-wireline rigs and HydroVac units. This specialized equipment allows for faster “rig in” and “rig out” times. Overall, Olenox Energy Services’ equipment and experience combination seeks to reduce the amount of time and fuel burned to complete an abandonment or workover thus reducing costs.
    • Energy Technologies: This business provides both R&D and existing technology to enable increased production in the field. Olenox flagship intellectual property is its downhole enhanced recovery plasma pulse tooling and ultrasonic cleaning tools.

    Each of Olenox’s three vertically integrated business units operate in tandem to help Olenox capture unique opportunities that often go untapped by the Company’s competitors.

    Safe Harbor Statement: Certain statements and information included in this release may constitute “forward-looking statements” as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management’s projections, estimates and expectations is contained in the Company’s SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.

    The MIL Network –

  • MIL-OSI: Sapphire Technologies and CCYS Partner to Drive Energy Efficiency in Asia’s Natural Gas Sector

    Source: GlobeNewswire (MIL-OSI)

    CERRITOS, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — Sapphire Technologies, a developer of energy recovery systems for hydrogen and natural gas industrial applications, is expanding into new markets in Asia through a partnership with CCYS, a leading Chinese enterprise in green energy recovery. As carbon emissions are projected to peak in China by 2030, the partnership seeks to reverse that trajectory. Sapphire’s advanced FreeSpin® In-line Turboexpander technology will be integrated into key infrastructure projects. This cutting-edge technology captures and converts wasted pressure energy into clean electricity, improving the efficiency of natural gas use and supporting China’s broader emissions reduction objectives.

    BP projects that China’s natural gas consumption will rise to 550 billion cubic meters by 2030, up from approximately 395 billion cubic meters in 2023, increasing its global energy share from 6% to over 10%. If the available natural gas pressure in China (1.6-4.0 MPa) is fully utilized using Sapphire’s FreeSpin® In-line Turboexpander, it could recover 13 million MWh of pressure energy, enabling the installation of at least 1,517.7 MW of power generation capacity. This advancement would contribute to annual CO2 reductions of up to 12 million tons.

    “Our partnership with CCYS marks an exciting step forward for both companies as we work together to meet China’s growing demand for sustainable energy solutions,” said Freddie Sarhan, CEO of Sapphire Technologies. “By leveraging our turboexpander technology, we are expanding into new markets and helping enhance the efficiency of natural gas operations all while contributing to the country’s environmental goals.”

    “This partnership allows us to leverage Sapphire Technologies’ energy recovery systems to significantly improve the efficiency of our infrastructure projects,” said Changgang Guo, CEO of CCYS. “With this advanced technology, we are now able to capture and repurpose energy that would otherwise be wasted, directly supporting China’s transition to a greener, more sustainable energy landscape.”

    This partnership will initially focus on deploying Sapphire’s technology across multiple projects in China’s natural gas sector, including energy recovery systems at gas city gate stations, and LNG regasification facilities. Notable projects include those with Beijing Gas and Heating Engineering Design Institute, CNPC Lanzhou Petrochemical Equipment Company, and ENN Energy. Overall, this collaboration sets the stage for broader implementation of Sapphire’s solutions, helping drive China’s move toward a more energy-efficient future.

    About Sapphire Technologies
    Sapphire Technologies is driving global decarbonization through developing and manufacturing energy recovery systems that harness the power of gas expansion to produce reliable and clean electricity. Sapphire Technologies’ systems are designed to convert energy wasted in pressure reduction processes into electric power without interrupting operations. By recovering this wasted pressure energy, Sapphire Technologies helps customers maximize efficiencies, improve productivity, reduce carbon emissions, offset electrical costs and achieve substantial financial returns. For additional information visit: https://www.sapphiretechnologies.com. 

    About CCYS
    Over the past decade, CCYS has focused on the R&D, production, sales, and service of thermal insulation products. In 2023, the company expanded a new branch company, CCYS(Beijing), to focus on green energy recovery, leveraging advanced technologies in the Oil & Gas, hydrogen, air, and CO2 sectors. It now specializes in pressure energy recovery and waste heat recovery, continually enhancing the efficient closed-loop utilization of zero-carbon electricity and cooling energy across these areas to help meet the “China 3060” Carbon Peak/Neutral target. For additional information, please visit: http://www.ccysnh.com/

    Media Contact:
    Kite Hill PR
    Lara Schembri Sant
    lara@kitehillpr.com

    The MIL Network –

  • MIL-OSI: A majority of Canadian HR professionals cite workplace harassment as a growing concern, but 28% lack prevention policies

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) — Traliant, a leader in online compliance training, today announced its new workplace study, “Canadian Culture Check: A report on the state of workplace harassment in Canada.” Compiled from a survey of over 1,000 HR professionals in Canada, the study assesses how organizations are approaching harassment prevention. Most notably, the survey revealed that while a majority of HR professionals (61%) feel workplace harassment is a growing issue in their organization, more than a quarter (28%) of organizations do not have a comprehensive workplace harassment prevention policy that meets all legal requirements.

    Canadian law requires that employers in all provinces and territories, along with federally regulated employers, provide harassment and workplace violence prevention training to all employees. However, the report reveals that the current programs and processes in place may not fully address the entire spectrum of government training mandates, putting organizations at compliance risk and perpetuating cultures of misconduct.

    “Effectively addressing workplace harassment requires a dual strategy of empowering employees to actively foster workplace respect and ensuring compliance with Canada’s provincial and federal requirements,” said Michael Johnson, Chief Strategy Officer at Traliant. “Our study identifies critical areas where Canadian HR professionals can enhance current harassment prevention programs to create lasting, impactful change on company culture.”

    The report uncovered additional gaps and potential liabilities in how Canadian HR professionals are approaching harassment prevention, including:

    • 26% of organizations are putting themselves at risk by not providing harassment prevention training to all employees and all levels.
    • 28% of Canadian HR professionals are not providing training to employees at a frequency of least every two years as recommended by case law.
    • 52% of respondents said their workplace harassment reporting processes were not clear or standardized, preventing employees from coming forward and allowing harassing behavior to continue and escalate.

    Casey Heck, Senior Vice President of Human Resources at Traliant, added, “With a heightened awareness of the need to address workplace harassment and violence, it’s crucial for HR professionals to effectively support all employees and managers with training to create a safe and positive work environment.”

    For complete survey findings and details, read the full report here.

    Methodology
    The independent market research firm Researchscape conducted this survey. Respondents were 1,000 HR professionals in Canada, from organizations ranging from 50 to 1,000+ employees. The survey was conducted in September 2024.

    About Traliant
    Traliant, a leader in compliance training, is on a mission to help make workplaces better, for everyone. Committed to a customer promise of “compliance you can trust, training you will love,” Traliant delivers continuously compliant online courses, backed by an unparalleled in-house legal team, with engaging, story-based training designed to create truly enjoyable learning experiences.

    Traliant supports over 14,000 organizations worldwide with a library of curated essential courses to broaden employee perspectives, achieve compliance and elevate workplace culture, including sexual harassment training, diversity training, code of conduct training, and many more.

    Backed by PSG, a leading growth equity firm, Traliant holds a coveted position on Inc.’s 5000 fastest-growing private companies in America for four consecutive years, along with numerous awards for its products and workplace culture. For more information, visit http://www.traliant.com and follow us on LinkedIn.

    Contact
    Reagan Bennet
    traliant@v2comms.com

    The MIL Network –

  • MIL-OSI: Usio to Host Third Quarter Fiscal 2024 Conference Call to Discuss Results and Provide Company Update on November 6, 2024

    Source: GlobeNewswire (MIL-OSI)

    SAN ANTONIO, Oct. 23, 2024 (GLOBE NEWSWIRE) — Usio, Inc. (Nasdaq:USIO), a leading FinTech that operates a full stack of integrated, cloud-based electronic payment and embedded financial solutions, today announced it will release third quarter fiscal 2024 financial results for the period ended September 30, 2024, after the market closes on Wednesday, November 6, 2024.

    Usio’s management will host a conference call the same day, November 6, 2024, beginning at 4:30 p.m. Eastern time to review financial results and provide a business update. Following management’s formal remarks, there will be a question-and-answer session.

    To listen to the conference call, interested parties within the U.S. should call 1-844-883-3890. International callers should call 1-412-317-9246. All callers should ask for the Usio conference call. The conference call will also be available through a live webcast, which can be accessed via the company’s website at https://usio.com/events-2/.

    A replay of the call will be available approximately one hour after the end of the call through November 20, 2024. The replay can be accessed via the Company’s website or by dialing 1-877-344-7529 (U.S.) or 1-412-317-0088 (international). The replay conference playback code is: 7062327.

    About Usio, Inc.

    Usio, Inc. (Nasdaq: USIO), a leading, cloud-based, integrated FinTech electronic payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, integrated software vendors and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services clients through its unique payment facilitation platform as a service. The company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the card issuing sector. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas.

    Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on Facebook® and Twitter.

    FORWARD-LOOKING STATEMENTS DISCLAIMER
    Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management’s intent, belief, and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe,” “intend,” “look forward,” “anticipate,” “schedule,” and “expect” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including such risks related to an economic downturn as a result of the COVID-19 pandemic, the realization of opportunities from the IMS acquisition, the management of the Company’s growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new tax legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2023. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.

    Contact

    Paul Manley
    Senior Vice President, Investor Relations
    paul.manley@usio.com
    612-834-1804

    The MIL Network –

  • MIL-OSI: ibex Ranked #2 in Forbes America’s Best Employers for Tech Workers List

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, Oct. 23, 2024 (GLOBE NEWSWIRE) — ibex (NASDAQ: IBEX), a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, today announced it has been ranked at No. 2 on the 2024 Forbes list of America’s Best Employers for Tech Workers, placing it ahead of global tech industry giants.

    To create the list, Forbes surveyed more than 25,000 tech workers in the United States employed at companies across all sectors with at least 1,000 people. Survey respondents were asked how likely they would be to recommend their current employer, their previous employer, and companies they knew through peers in their industry, or through friends or family who worked there. Respondents assessed their companies’ general work environment and topics like career development, salary, image, diversity, openness and technological prowess.

    “We are thrilled to be recognized by Forbes as one of America’s top employers for tech workers,” said ibex Chief Technology Officer Andy Wilkens. “This ranking is a testament to our tech-led strategy combined with an unwavering commitment to employee success and well-being. ibex has been a pioneer in leveraging technology and AI to enable our global team to deliver the best CX for our clients. We recently introduced the ibex Wave iX solutions suite, which harnesses the power of Gen AI to deliver next-generation customer experiences for top global brands.”

    ibex Wave iX seamlessly integrates innovative AI-powered solutions with ibex’s industry-best talent to facilitate advanced, hyper-personalized, and intelligent interactions that cultivate stronger connections between brands and their customers.

    “From comprehensive benefits and career growth opportunities to our innovative employee engagement programs, we strive to create an environment where top tech talent can thrive and make a real impact,” said ibex Chief People Officer Paul Inson. “ibex is deeply committed to providing cutting-edge technology, tools and training to support career growth and development. We are proud that 85 percent of our frontline leaders began their careers as agents within the company, demonstrating the opportunity for career advancement across the organization.”

    Another key aspect of ibex’s outstanding workplace is the company’s commitment to listening to employee feedback. ibex conducts its annual iVoice employee survey to gather input from its workforce, and more importantly, takes concrete actions based on that feedback. ibex also conducts quarterly employee pulse surveys, ensuring that the company remains closely attuned to its team’s evolving needs and expectations.

    For more information about ibex and career opportunities, visit www.ibex.co.

    About ibex
    ibex delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage and retain valuable customers. Today, ibex operates a global CX delivery center model consisting of approximately 30 operations facilities around the world, while deploying next generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthcare, fintech, utilities and logistics.

    ibex leverages its diverse global team of over 30,000 employees together with industry-leading technology, including the AI-powered ibex Wave iX solutions suite, to manage nearly 175 million critical customer interactions, adding over $2.2B in lifetime customer revenue each year and driving a truly differentiated customer experience. To learn more, visit our website at ibex.co and connect with us on LinkedIn.

    ibex Media Contact:
    Dan Burris
    daniel.burris@ibex.co

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e704c285-850f-4151-afdc-753676638fd8

    The MIL Network –

  • MIL-OSI: AvidXchange Announces Winners of the Inaugural Change Maker Awards

    Source: GlobeNewswire (MIL-OSI)

    CHARLOTTE, N.C., Oct. 23, 2024 (GLOBE NEWSWIRE) — AvidXchange, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced the winners of the inaugural Change Maker Awards, recognizing individuals who have driven innovative and transformative change in the AP industry.

    Change Makers:
    For this award program, AvidXchange honors those who embodied being a “change maker,” or someone who facilitates or brings about change in their AP department through innovative processes, automated procedures or other creative solutions.

    • Alexis Bates, Director of Construction and Development Accounting, Robert High Development: In response to the demand for faster, more secure subcontractor payments, Alexis spearheaded the implementation of AvidXchange’s end-to-end AP automation solution built for construction. The payment process is now more streamlined, saving her company over $100,000 annually in hard costs like check stock and postage and eliminating the need to hire additional staff due to increased efficiency. Additionally, with a more robust approval process, her team has experienced fewer errors and implemented a stronger system for checks and balances.
    • Ella Hu, Corporate Accountant, HH Red Stone: Ella played a key role in implementing AvidXchange’s payment automation solution, replacing manual processes that were prone to errors and delays. The adoption of a more efficient process resulted in annual savings of $45,000 and reduced payment processing time from 14 days to just 5. Ella’s efforts also led to a 30% increase in supplier satisfaction, as suppliers now receive more timely payments with clearer status updates.
    • Farzana Sarpas, Staff Accountant – Development Accounting, Rancho Mission Viejo: Farzana led the implementation of AvidXchange’s end-to-end AP automation solution built for construction. She played a key role in integrating an innovative system that utilizes a newly created company portal designed to automatically import, code, and route invoices to AvidXchange, fully automating the AP process and saving approximately 40 hours each week. In addition to eliminating a variety of time-consuming tasks, Farzana created personalized virtual trainings and user guide manuals for her company and suppliers, ensuring a seamless transition to the new AP software.
    • Ja’Net Penn, Accounting Manager, Peak Property Management: Under Ja’Net’s innovative leadership, Peak Property successfully transitioned to a fully automated, paperless AP process with AvidXchange. This shift reduced invoice approval times by 30% and improved customer retention, allowing the company to focus on stable revenue streams rather than new client acquisition costs. Ja’Net also introduced a key KPI to track unapproved invoices, increasing accountability in the approval process and improving relationships with suppliers and property owners, with on-time payments reaching 95%.
    • Kelly Brummer, Controller AVP, Premier Bank: Kelly’s efforts to modernize the accounts payable and expense reimbursement processes with AvidXchange had a transformative impact on Premier Bank, resulting in annual savings of approximately $79,000. Administrative tasks for all employees were reduced from 40 hours per week to just 10, freeing up valuable time for the finance team to focus on more strategic work. Her CFO praised her for driving a more efficient and delivering a seamless experience for the team.
    • Shannon Powers, Manager of HRIS & AP, Energo: Shannon implemented enhanced workflows within AvidXchange’s invoice automation solution, reducing invoice approval time to under 24 hours. The streamlined process has also improved accuracy, with error rates now nearly “non-existent”. Reporting now takes just 15 minutes, down from an hour, increasing operational efficiency and saving on payroll costs. Shannon implemented enhanced workflows within AvidXchange’s invoice automation solution, reducing invoice approval time to under 24 hours. The streamlined process has also improved accuracy, with error rates now nearly “non-existent.” Reporting now takes just 15 minutes, down from an hour, increasing operational efficiency and saving on payroll costs.

    “Innovation in accounts payable goes beyond improving processes—it’s about making change that has a lasting impact on both financial and operational success,” said Michael Praeger, Co-Founder, Chairman, and Chief Executive Officer of AvidXchange. “Our inaugural class of Change Makers embodies this forward-thinking mindset, and we are proud to honor these individuals whose bold contributions will continue to shape the future of our industry.”

    In recognition of their outstanding contributions to the accounts payable industry, each winner will be showcased on the iconic Nasdaq Tower, as well as have $1,000 donated to the charity of their choice on behalf of AvidXchange.

    Nominations for the 2025 Change Maker Awards will open in August 2025.

    To learn more, visit avidxchange.com/awards.

    About AvidXchange
    AvidXchange is a leading provider of accounts payable (“AP”) automation software and payment solutions for middle market businesses and their suppliers. AvidXchange’s software-as-a-service-based, end-to-end software and payment platform digitizes and automates the AP workflows for more than 8,000 businesses and it has made payments to more than 1.2 million supplier customers of its buyers over the past five years. To learn more about how AvidXchange is transforming the way companies pay their bills, visit avidxchange.com.

    Contact:
    Kevin Logan
    Manager, Corporate Communications
    pr@avidxchange.com  

    The MIL Network –

  • MIL-OSI: LEARN selects Nokia to deploy new high-capacity network to foster research and education in Texas

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    LEARN selects Nokia to deploy new high-capacity network to foster research and education in Texas

    • Multi-year agreement sets Nokia as a key collaborator for LEARN’s high-capacity IP/MPLS network to meet growing capacity demands supporting research and education purposes.
    • Enables high-speed access to foster scientific discovery and pedagogical developments in the state.
    • Nokia industry-leading IP routing technology delivers 400G interfaces today with ability to seamlessly upgrade to 800G in the future.  

    23 October 2024
    Dallas, Texas – Nokia today announced its collaboration with The Lonestar Education and Research Network (LEARN), the statewide Research and Education Network for the state of Texas, to upgrade LEARN’s existing packet platform. The collaboration is part of LEARN’s strategic NextGen Network initiative, which aims to replace routers across the LEARN backbone and modernize the existing statewide network, significantly advancing the network’s infrastructure and the ability to serve its members. Nokia’s solution will enhance the levels of scalability, security, and reliability over a 400GE backbone, as part of a broad project redesign led by LEARN to serve its more than 300 organizations that directly or indirectly rely upon its network.

    The collaboration with Nokia represents a significant milestone as LEARN celebrates the upcoming 20th anniversary of its passage of first light. The relationship with Nokia highlights LEARN’s commitment to providing advanced, high-performance networking technology solutions for research and education. The next generation of the network will meet the highest performance and reliability standards, benefiting LEARN members by enhancing network performance, ensuring seamless integration, providing future-proof technology, increasing operational efficiency, and improving network reliability and resiliency. 

    The LEARN network spans over 3,200 fiber route miles, serving over 300 direct and affiliate member organizations throughout Texas, including public and private higher education institutions, colleges, and K–12 public schools. The enhanced IP/MPLS core network from Nokia delivers the performance, scale, and speed that are required to support cloud-hosted applications, compute-intensive processing, and the exchange of massive data sets required by LEARN Member Institutions.

    Kerry Mobley, President and CEO of LEARN, said: “LEARN is looking ahead to ensure we continue to meet the evolving demands of research, education, and collaboration for years to come. As network traffic increases due to technological advancements, we are committed to providing scalable and resilient services to support the needs of our members. Partnering with Nokia to help modernize our next-gen network allows us to implement cutting-edge, future-ready solutions that enhance our ability to empower the research and education communities across Texas.”

    Matt Young, Head of Enterprise Sales for North America at Nokia, said: “Research and Education networks like LEARN are experiencing unprecedented data growth with advancements in cloud and AI, which is compounded by the compute intensive processing and exchange of huge data sets within their communities. Our leadership in networking technologies and the extensive experience providing some of the highest performance networks on the planet have allowed us to gain momentum in the market, providing our customer with a robust network infrastructure with enhanced scalability, security, and reliability. We are pleased to be a part of LEARN’s network evolution project as they help foster scientific research, collaboration and innovation in Texas.”

    Resources and additional information
    The Nokia IP/MPLS platform leverages in-house developed leading-edge FP5 network processing silicon and is designed to scale in support of the most demanding workloads. A layer of network protection is integrated directly into the chipset, ensuring the integrity of research data as security threats – such as DDoS attacks and data breaches – grow in size and severity. Innovations in power consumption deliver a 75 percent reduction in energy use over earlier routing chipsets.

    National/regional research and education networks (NRENs) are non-commercial networks created for the advancement of knowledge. They demand performance, sometimes on the edge of what is commercially practical. They require unusual bandwidth capacity, scalability, flexibility, and data security without the constraints often found in commercial service offerings. Advances in photonic transport and switching, combined with IP routing and open software control, bring NRENs the ability to better serve their communities with a powerful communications infrastructure that will further education, scientific and industrial research, commerce, and overall quality of life – fostering collaboration among institutions.

    Webpage: IP networks
    Webpage: Advance discoveries with future-ready research and education networks
    Product page: EVPN: a powerful foundation for network services and infrastructure

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About LEARN

    The Lonestar Education and Research Network (LEARN) is a consortium of 43 organizations in Texas, including public and private higher education institutions, colleges, the National Oceanic and Atmospheric Administration (NOAA), K-12 public schools, and research organizations. LEARN provides high-speed networking & technology services to support education, research, healthcare, and government communities. 

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

  • MIL-OSI: Micron SSDs Qualified for Recommended Vendor List on NVIDIA GB200 NVL72

    Source: GlobeNewswire (MIL-OSI)

    BOISE, Idaho, Oct. 23, 2024 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU), today announced that its 9550 PCIe Gen5 E1.S data center SSDs have been added to the NVIDIA recommended vendor list (RVL) for the NVIDIA GB200 NVL72 system and its derivatives.

    The GB200 NVL72 uses the GB200 Grace Blackwell Superchip to deliver rack-scale, energy-efficient AI infrastructure. The enablement of PCIe Gen5 storage in the system makes the Micron 9550 SSD an ideal fit for optimizing performance and power efficiency in AI workloads like large-scale training of AI models, real-time trillion-parameter language model inference and high-performance computing (HPC) tasks.

    Micron 9550 delivers world-class AI workload performance and power efficiency:

    Compared with other industry offerings, the 9550 SSD delivers up to 34% higher throughput for NVIDIA Magnum IO™ GPUDirect® (GDS) and up to 33% faster workload completion times in graph neural network (GNN) training with Big Accelerator Memory (BaM).1 The Micron 9550 SSD saves energy and sets new sustainability benchmarks by consuming 81% less SSD energy per 1TB transferred than other SSD offerings with NVIDIA Magnum IO GDS and up to 43% lower SSD power in GNN training with BaM.1

    “Micron’s memory and storage products play a critical role in meeting the growing requirements of demanding AI workloads from the data center to the edge,” said Jeremy Werner, corporate vice president and general manager of Micron’s Storage Business Unit. “By integrating the Micron 9550 SSD on the GB200 NVL72, server companies can integrate a high-performance, energy-efficient Gen5 data center storage solution into their AI server systems.”

    “Ultra-fast and energy-efficient NVMe storage is crucial to the NVIDIA GB200 NVL72 rack-scale design,” said Keith Morris, vice president of Product Management at NVIDIA. “The Micron 9550 SSD can be integrated by our solution partners into their systems based on the GB200 NVL72 reference architecture to enable higher performance and efficiency.”

    In addition to the Micron 9550 PRO PCIe Gen5 3.84TB, 7.68TB, and 15.36TB E1.S SSDs, the Micron 7450 PRO 3.84TB E1.S and 1.92TB M.2 SSDs have also been listed on the same NVIDIA RVL. Micron is working closely with server ODMs and OEMs to qualify the Micron 9550 and 7450 SSDs into their NVIDIA GB200 NVL72 solutions.

    The NVIDIA GB200 Grace Blackwell Superchip will also ship with Micron’s LPDDR5X memory to provide a unique combination of high capacity, low power and enhanced RAS (reliability, availability and serviceability) capabilities for AI server infrastructure.

    For more information, visit these additional resources:

    About Micron Technology, Inc.

    We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

    © 2024 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

    Micron Media Relations Contact
    Kelly Sasso
    Micron Technology, Inc.
    +1 (208) 340-2410
    ksasso@micron.com

    1 Competitive comparisons with performance-focused 1 DWPD 7TB SSDs from Kioxia and Samsung available in the market and as tested in Micron labs.

    The MIL Network –

  • MIL-OSI: Alation Launches Season 3 of Data Radicals Podcast to Spotlight Data and AI’s Impact on Business and Society

    Source: GlobeNewswire (MIL-OSI)

    REDWOOD CITY, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — Alation Inc., the data intelligence company, today announced the launch of Season 3 of the Data Radicals podcast. The new season, hosted by Satyen Sangani, Alation’s CEO and co-founder, focuses on AI’s transformative power to unlock business value, featuring firsthand accounts and practical insights from leaders and practitioners implementing AI in their organizations. This season will explore how organizations leverage trusted data and AI to drive innovation and realize new business opportunities.

    Data Radicals has become a go-to resource for business leaders seeking insights into AI, data governance, and building data-driven cultures. Available on Apple Podcasts, Spotify, and Alation.com/podcast, Season 3 delivers in-depth conversations with industry visionaries tackling the most pressing data problems in business today. This season’s guests include Dr. Geraldine Wong (CDO of GXS Bank), Stewart Bond (Research VP of IDC), Jeremy Kahn (AI Editor at Fortune), Chris Wiggins (Chief Data Scientist at the New York Times), Dr. Raza Habib (CEO and co-founder of Humanloop), and Tom Davenport (author of All-in on AI), who explore how AI use cases drive smarter decision-making, maximize business value from data initiatives, and reshape industries while creating societal change.

    “AI has unlocked extraordinary potential for organizations to reimagine how they use data,” said Satyen Sangani, host of Data Radicals and CEO of Alation. “This season, we explore how AI enables businesses to innovate and disrupt industries and the critical role of trusted data in fueling AI. We’re thrilled to hear from leaders driving AI’s accessibility, trust, and transformative impact. Season 3 will cover the most cutting-edge topics in data and AI, from practical applications like AI-powered chatbots and fraud detection in banking to realizing tangible value from AI initiatives.”

    “I applaud Data Radicals for helping to highlight both the opportunities and the risks AI presents,” said Jeremy Kahn, AI Editor at Fortune and author of the book Mastering AI: A Survival Guide to Our Superpowered Future. “We desperately need public education and discussions like those Data Radicals if we are to hope to avoid AI’s dangers and realize its positive potential. It was a pleasure to be on the podcast to help advance this vital conversation.”

    “Being a guest on Data Radicals was truly enjoyable,” said Wendy Batchelder, Senior Vice President and Chief Data Officer at Centene. “As a leader who has navigated many of the same data and AI challenges other executives face, it was an honor to discuss the critical role of trusted data in driving organizational innovation. We explored the importance of breaking down silos, understanding organizational dynamics, and the pivotal role data governance and DE&I play in creating impactful business outcomes.”

    Upcoming guests for season three of Data Radicals include: 

    • Dr. Geraldine Wong, Chief Data Officer at GXS Bank 
    • Stewart Bond, Senior Vice President, Data Integration and Intelligence Software Research at IDC
    • Jeremy Kahn, AI Editor at Fortune
    • Chris Wiggins, Chief Data Scientist at The New York Times
    • Dr. Raza Habib, CEO and co-founder of Humanloop
    • Tom Davenport, Distinguished Professor of Information Technology and Management at Babson College, author of All-in on AI, and contributor to Harvard Business Review

    Tune into Data Radicals to stay at the forefront of data and AI innovation and discover how these technologies drive business value and reshape the world. Episode one of Season 3, featuring Dr. Geraldine Wong, Chief Data Officer at GXS Bank, is available today anywhere you listen to podcasts. 

    Sign up for the Data Radicals newsletter here. 

    See new episodes at alation.com/podcast.

    About Alation
    Alation is the data intelligence company. Nearly 600 global enterprises — including 40% of the Fortune 100 — rely on Alation to realize value from their data and AI initiatives. Customers such as Cisco, DocuSign, Nasdaq, Pfizer, and Samsung trust Alation’s platform for self-service analytics, cloud transformation, data governance, and AI-ready data, fostering data-driven innovation at scale. Headquartered in Redwood City, California, Alation has been recognized five times by Inc. Magazine as one of the Best Workplaces. To learn more, visit www.alation.com. 

    Media Contact
    Lauren Lloyd
    Director, Corporate Communications
    541-490-6115
    lauren.lloyd@alation.com

    The MIL Network –

  • MIL-OSI: Americans Commonly Choose Top of Wallet Credit Cards Based on Loyalty and Rewards, According to CORA Group Survey

    Source: GlobeNewswire (MIL-OSI)

    WARMINSTER, Pa., Oct. 23, 2024 (GLOBE NEWSWIRE) — CORA Group (“CORA”), an operating portfolio of Jonas Software, a subsidiary of Constellation Software Inc., today shared results from its recent survey conducted online by The Harris Poll. More than 2,000 U.S. adults were surveyed on their card preferences and usage related to loyalty and rewards.

    Key findings from the survey include:

    • Loyalty and rewards lead in influencing which credit card Americans use to pay (55%), followed by convenience (40%), and credit limit (37%).
      • Brand loyalty (17%) is one of the lowest considerations.
      • Baby Boomers (ages 60-78) are the most likely to be influenced by loyalty and rewards programs, followed by Gen X (ages 44-59), Millennials (ages 28-43), and lastly Gen Z (ages 18-27). (Baby boomers 64%; Gen X 56%; 52% Millennials; 40% Gen Z.)
    • Nearly three quarters of Americans (73%) cite rewards-related factors (i.e., ability to earn, redemption options, sign-up bonus, percent earned) as considerations when opening a new credit card compared to factors like interest rates (47%), security and fraud protection (44%), user experience (31%), existing relationship with issuer (22%), and status (19%).
    • Earning points or miles on purchases is one of the most appealing credit card benefits to 45% of Americans.

    This data demonstrate how comprehensive loyalty management solutions can increase share of wallet, transaction frequency, and customer spending. “These findings underscore the importance of offering consumers relevant loyalty and rewards programs,” said Denis Bronsan, portfolio manager at CORA. “Rewards are viewed as a form of currency, their value plays a crucial role in payments — they actively shape purchasing decisions, spending habits, and brand loyalty.”

    Aligned with this trend, CORA’s recent acquisition of Carlson Marketing Solutions further expands its global portfolio, adding enterprise-level loyalty program management. The acquisition enhances the company’s ability to efficiently manage complex transactions while delivering greater personalization, program value, and targeted customer experiences.

    Survey Method
    This survey was conducted online within the United States by The Harris Poll on behalf of CORA Group from September 24-26, 2024 among 2,088 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact George Chalmers.

    About CORA Group
    CORA Group is a collective organization redefining advancement through the acquisition, strengthening, and growth of over 30 independent software brands worldwide. Our roots in construction and food service have expanded to include debt collection & recovery, wine/spirits, moving/storage, loyalty, legal, and long-term care verticals. Today, we are proud to serve over 50,000 customers in 10+ markets with industry-leading enterprise software and related services. CORA Group operates as one of the primary operating groups under Jonas Software, a subsidiary of Constellation Software Inc. This relationship reinforces CORA’s commitment to delivering industry-leading solutions and benefiting from the extensive resources and support provided by Jonas Software and Constellation Software Inc.

    MEDIA CONTACT:
    George Chalmers
    Associate Director, M&A Corporate Development
    george.chalmers@thecoragroup.com
    https://thecoragroup.com

    The MIL Network –

  • MIL-OSI Video: MOS Highlights: 12T | U.S. Army

    Source: US Army (video statements)

    : Video by 1st Lt. Timothy Yao, Office of the Chief, U.S. Army Reserve

    Army Reserve Sgt. Halona Wilcox-Molina from the 411th Engineer Battalion, is a Technical Engineer working with the Mongolian Army to survey the land in order to plan a future road construction project.

    As a Technical Engineer, you’ll supervise and execute construction site development with technical investigation, surveys, drafts, and construction plans/specifications. You’ll also use digital equipment and software to draw topographic maps and charts to prepare detailed plans for construction projects.

    About the U.S. Army:

    The Army Mission – our purpose – remains constant: To deploy, fight and win our nation’s wars by providing ready, prompt & sustained land dominance by Army forces across the full spectrum of conflict as part of the joint force.

    Interested in joining the U.S. Army?
    Visit: spr.ly/6001igl5L

    Connect with the U.S. Army online:
    Web: https://www.army.mil
    Facebook: https://www.facebook.com/USarmy/
    X: https://www.twitter.com/USArmy
    Instagram: https://www.instagram.com/usarmy/
    LinkedIn: https://www.linkedin.com/company/us-army
    #USArmy #Soldiers #Military #USAReserve #USEmbassyMongolia

    https://www.youtube.com/watch?v=LYJDbbiCT_Y

    MIL OSI Video –

  • MIL-OSI: c/side Selected for TechCrunch Disrupt 2024 Startup Battlefield, Will Showcase AI-Driven Solution for Securing Vulnerable Third-Party Web Scripts

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Oct. 23, 2024 (GLOBE NEWSWIRE) — c/side, a cybersecurity company with tools for monitoring, optimizing, and securing vulnerable browser-side third-party scripts, today announced its participation in TechCrunch’s upcoming Startup Battlefield 2024. Selected from thousands of startup applicants, c/side will demo its innovative AI-driven solution to a rapidly accelerating web security threat vector as part of TechCrunch Disrupt, held October 28-30 in San Francisco.

    c/side is also co-hosting a social + learning event for the cybersecurity community at Disrupt alongside two other AI-centric security startups, FireTail and Socket, at the offices of Uncork Capital (a c/side investor). The event will be at 6:30pm on October 30th, the final day of Disrupt.

    Founded earlier this year by cybersecurity expert Simon Wijckmans, c/side addresses one of the most challenging and consequential risks to business’ client-side web security. The company’s advanced proxy service and AI-driven threat detection engine offer a comprehensive toolkit to identify and neutralize malicious scripts in real-time—significantly enhancing website security and performance.

    Accelerated growth following recent venture funding

    c/side’s selection for TechCrunch’s Startup Battlefield follows the company’s successful $6 million seed funding round, led by Uncork Capital with participation from Mantis VC, Scribble Ventures, Roar Ventures, and PrimeSet. The round brings c/side’s total funding to $7.7 million since launching a few months ago, underscoring the criticality of c/side’s solution and the confidence investors have in its innovative approach.

    “Startup Battlefield selection is a tremendous honor and a validation of our mission to secure the browser supply chain,” said Wijckmans, founder and CEO, c/side. “Recent high-profile attacks have highlighted the urgency of our work. At Disrupt, we look forward to showcasing how our AI-powered solution is making web security more accessible and effective for businesses of all sizes.”

    Addressing a critical security gap

    c/side’s technology tackles the growing threat of browser supply chain attacks, where malicious actors exploit vulnerabilities in third-party scripts to redirect website visitors, steal sensitive information, or manipulate website content. The company’s solution not only bolsters security but also simplifies compliance with stringent industry regulations like PCI DSS 4.0.

    Experience c/side at TechCrunch Disrupt

    Attendees of TechCrunch Disrupt at Moscone West in San Francisco are invited to see c/side’s technology in action. The c/side team will demonstrate how their solution revolutionizes client-side security, offering unparalleled protection against this sophisticated threat vector. c/side’s free tier is also now fully operational and available—anyone can sign up and begin securing their site in minutes. Business, Enterprise, and Partner tiers are in development; those interested can contact c/side here.

    About c/side

    c/side is a forward-thinking cybersecurity startup focused on browser-side detection and protection. Led by industry expert Simon Wijckmans, c/side is pioneering technologies to shield against sophisticated cyber threats, ensuring unparalleled security standards for users across the web.

    Contact
    Kyle Peterson
    kyle@clementpeterson.com

    The MIL Network –

  • MIL-OSI: Sarmayacar latest initiative Climaventures Fund Secures $15 Million Anchor Commitment from Green Climate Fund to Accelerate Climate-Tech Innovation in Pakistan

    Source: GlobeNewswire (MIL-OSI)

    Lahore, Pakistan, Oct. 23, 2024 (GLOBE NEWSWIRE) — Venture capital firm Sarmayacar is today announcing it has successfully secured $15m for its new Climaventures Fund from the Green Climate Fund (GCF), marking a significant milestone in the growth of Pakistan’s climate-tech ecosystem. This GCF funding will play an anchoring role in the new fund that Sarmayacar is targeting to have a hard cap of $40 million. An additional $10 million has been allocated to an affiliated venture accelerator program run by the National Rural Support Programme (NRSP) to support even earlier-stage climate-tech startups with a similar thesis. The final approval from the GCF Board, following its meeting in Songdo, South Korea, highlights the growing global interest in addressing Pakistan’s critical climate challenges with scalable, impactful solutions.

    With this capital, the Sarmayacar Climaventures Fund will focus on empowering local startups in critical sectors such as renewable energy, electric mobility and sustainable agriculture. These ventures will receive both financial backing and strategic guidance to help accelerate their growth and environmental impact. By strengthening Pakistan’s climate-tech landscape, Sarmayacar aims to position the country as a key player in regional sustainability efforts while attracting international investment into climate-focused ventures.

    Sarmayacar CEO and founder Rabeel Warraich with General Partner Bernhard Klemen

    Sarmayacar, founded in 2018 as Pakistan’s first institutional venture capital firm, has been instrumental in advancing the country’s startup ecosystem. Its initial $25 million tech-focused fund, anchored by the International Finance Corporation (IFC), catalysed over $800 million in venture capital investments into Pakistani startups, and supported high-growth ventures across sectors such as fintech, e-commerce, healthtech, and logistics. Led by CEO and Founder, Rabeel Warraich and General Partner, Dr. Bernhard Klemen, the firm is now leveraging its experience and market-knowledge to address Pakistan’s climate challenges through its Climaventures Fund. 

    “Addressing Pakistan’s climate emergency requires an approach that fosters entrepreneurial innovation,” said Rabeel Warraich, CEO and Founder of Sarmayacar. “Our new climate fund – a first for Pakistan – will back founders building localised, scalable climate solutions for the country. We hope to spawn an entire climate venture ecosystem by leveraging our experience and connectivity in the country and beyond.”

    Sarmayacar’s latest initiative taps into the global momentum behind climate-tech investment. According to the Climate Policy Initiative’s Global Landscape of Climate Finance 2023 report, global climate finance averaged $1.27 trillion annually in 2021-2022, nearly doubling from previous years. This surge underscores the urgent need to scale climate solutions globally. In Pakistan, where climate challenges are particularly acute, the Sarmayacar Climaventures Fund aims to back startups that contribute to the country’s broader environmental goals, driving both impact and sustainable growth. Despite contributing only 0.9% to global greenhouse gas emissions, Pakistan ranks as the 8th most vulnerable country to climate change, according to the Global Climate Risk Index. 

    Dr. Bernhard Klemen, General Partner at Sarmayacar added, “Since launching Pakistan’s first VC fund in 2018, Sarmayacar has built a track record of identifying and supporting market-transforming startups in the country. With this new climate-themed fund, we plan to replicate the playbook of our first fund and invest in commercially attractive opportunities that can also create significant impact. There is already an actionable pipeline which we hope to capitalise on with the support of reputable and like-minded partners like the GCF.”

    The Green Climate Fund’s endorsement underscores the critical role that venture capital must play in addressing climate change, particularly in emerging markets. The fund will also help mobilise additional private capital, de-risking early-stage climate ventures and attracting further investment from global institutions.

    Looking ahead, Sarmayacar aims to position Pakistan as a leader in climate-tech innovation, driving scalable solutions to tackle pressing climate challenges. With the Sarmayacar Climaventures Fund, the firm is committed to supporting the next generation of climate-tech entrepreneurs, ensuring they have the resources and expertise to succeed both locally and globally. By continuing to attract capital and fostering impactful ventures, Sarmayacar is helping to shape a more sustainable future for Pakistan and beyond. 

    Ends 

    Notes to the editor
    Media images can be found here. 

    About Sarmayacar
    Sarmayacar is Pakistan’s first institutional venture capital firm, backing early-stage tech startups across a variety of sectors. Since its inception, Sarmayacar has supported high-growth ventures with a focus on driving innovation and sustainable growth in Pakistan’s startup ecosystem. 
    For more information, please visit www.sarmayacar.com 

    About GCF
    The Green Climate Fund is a global initiative established under the United Nations Framework Convention on Climate Change (UNFCCC) to help developing countries reduce their greenhouse gas emissions and adapt to the impacts of climate change. GCF invests in low-emission, climate-resilient projects across various sectors, mobilising public and private sector resources to support climate action. For more information, please visit www.greenclimate.fund

    The MIL Network –

  • MIL-OSI: TGS ASA rated ‘BB-‘ from S&P

    Source: GlobeNewswire (MIL-OSI)

    OSLO, Norway (23 October 2024) – TGS ASA, a leading provider of energy data and intelligence is assigned a ‘BB-‘ rating from S&P with stable outlook. S&P’s rating on TGS ASA reflects the company’s conservative financial policies and relatively strong credit measures after the transformative acquisition of PGS.

    S&P is raising their issuer credit rating on TGS Newco (formerly PGS ASA) and its USD 450 million senior secured notes by three and two notches respectively, from ‘B-‘ to ‘BB-‘ and from ‘B’ to ‘BB-‘ with stable outlook.

    The upgrade by S&P follows the upgrade by Moody’s from a B2 to a Ba3 rating as announced on 26 September 2024.

    S&P’s press release announcing the rating action is available on their home page https://www.spglobal.com/.

    For more information, visit TGS.com or contact:

    Bård Stenberg
    IR & Communication
    Mobile: +47 992 45 235
    investor@tgs.com

    About TGS
    TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

    Forward Looking Statement
    All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

    The MIL Network –

  • MIL-OSI: Pay still drives employee attraction and retention, but current pay programs fall short

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) — About half of global employers report they are effectively delivering on each of the six individual core objectives of pay programs, despite pay being the most commonly cited reason employees join and stay with an employer. This is according to the 2024 Pay Effectiveness and Design Survey by WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company.

    The survey found that of the six core objectives related to pay program effectiveness — driving employee attraction, driving employee retention, promoting fair compensation among employees, promoting competitive compensation compared to employees at other organizations, aligning with business strategy, and rewarding employees for current-year performance — about half of employers report that they are effective at two of these objectives and fewer than half are effective at each of the other four.

    Yet, related research shows that 48% of employees cite pay as one of the main drivers for attraction and retention — the most commonly cited factor for both, and more than half of employees (56%) would consider another job offer for better pay.

    This disconnect is likely in part due to changes that have affected the nature of work over the past several years. Labor market conditions, such as talent shortages, generational shifts, and new work models, have contributed as well as socio-economic trends like the global pandemic and high inflation.

    In addition to these external factors, lack of communication internally impacts overall pay effectiveness. Fewer than one in four say they are effective at communicating how employee pay is determined. Moreover, over half of employers (58%) think that salary compression is an issue and a similar percentage think it will be a problem in the next few years.

    “Organizations likely haven’t been able to focus on the factors that drive pay program effectiveness for the past few years given the recent dynamics of the labor market,” said Lori Wisper, Managing Director and Work & Rewards Global Solutions Leader, WTW. “As current economic conditions have eased the labor market pressures, companies should take the opportunity to make the necessary changes to address those factors. Companies should start with updating their compensation philosophy, because it is critical for pay program effectiveness and can contribute to improved retention of key talent, employee productivity, and financial performance.”

    Among companies that have updated their compensation philosophy in the last five years, the most commonly cited reasons for those changes are to enhance attraction or retention (69%) and to enhance the employee experience (51%). Other reasons include ongoing or regularly scheduled review and refresh (47%), building employee understanding (45%), and enhancing pay transparency (44%).

    “With salary-increase season approaching, it’s an ideal time for companies to assess how their pay programs support values, ensure they align with the business strategy, and start improving the effectiveness of these programs to future-proof their workforce,” added Wisper.

    About the survey

    The 2024 Pay Effectiveness and Design Survey was conducted from May to June of 2024. Nearly 1,900 companies, representing more than 30 million employees across 65 countries, responded. In the U.S., 332 organizations responded.

    About WTW

    At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

    Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

    Media contacts:

    Ileana Feoli
    Ileana.feoli@wtwco.com

    Stacy Bronstein
    stacy.bronstein@wtwco.com

    The MIL Network –

  • MIL-OSI United Kingdom: MHCLG appoints Mo Baines as MHCLG Lead Non-Executive Director 

    Source: United Kingdom – Executive Government & Departments

    Mo Baines confirmed as new Lead Non-Executive Director of the Ministry of Housing, Communities and Local Government. 

    The Deputy Prime Minister, Angela Rayner, has today confirmed that Mo Baines will join the Board of the Ministry of Housing, Communities and Local Government (MHCLG) as Lead Non-Executive Director (NED) for a one-year term, taking effect from 21st October. 

    Mo Baines is an expert in public policy and local government, with a particular interest in service delivery models, local government finance and research.  She is currently Chief Executive at the Association for Public Service Excellence (APSE), and visiting professor at the University of Staffordshire’s Centre for Business, Innovation and the Regions. 

    The Deputy Prime Minister, Angela Rayner said: 

    “I’m delighted that Mo will be joining the MHCLG Board. Her knowledge and experience of how local government and public services operate will inform the work and direction of the department, and I look forward to working with her to drive forward our ambitious agenda over the next year.” 

    MHCLG Lead Non-Executive Director, Mo Baines said: 

    “I’m honoured to be joining the Department at this time to deliver such an important, challenging and exciting agenda. I look forward to working with the skilled and dedicated team of colleagues from across MHCLG, and wider partners within and across the local government, housing and communities sector.” 

    For more information:

    About Mo Baines

    Mo Baines joined the Board of the Ministry of Housing Communities and Local Government in October 2024. 

    Mo has extensive experience of working in public policy and local government, with a particular background in service delivery models, local government finance and research.  She is the Chief Executive at the Association for Public Service Excellence (APSE) and visiting professor at the University of Staffordshire’s Centre for Business, Innovation and the Regions. 

    Mo has served in a number of other public sector roles over the course of her career, including as Head of Communications and Deputy Chief Executive of APSE, prior to her appointment as Chief Executive. Mo has authored and contributed to a number of public policy research papers and publications on service delivery and insourcing, housing and planning, workforce matters and local government finance. Mo has throughout her career worked closely with public sector trade unions, local councils and councillors across the UK and is passionate about the value of local government services to communities. 

    About the MHCLG Board 

    The Departmental Board is chaired by the Deputy Prime Minister, and comprises all junior ministers, senior officials, the Lead Non-Executive and non-executive board members (appointed by the Deputy Prime Minister in accordance with Cabinet Office guidelines).  The board meets quarterly, with overarching responsibility for departmental performance and delivery. 

    The Board provides overall leadership for the department’s business, as well as advice, support and challenge on the delivery and performance of key policy areas and programmes against priority outcomes.   

    About the appointment process  

    The Deputy Prime Minister has undertaken this appointment on an interim basis without competition in accordance with the Governance Code on Public Appointments and following consultation with the Commissioner for Public Appointments. The appointment will now ensure that there is NED representation at the first Ministerial Board in November. A competitive recruitment for all other permanent NEDs will take place within the next year and a competitive recruitment for the Lead NED will run once these are in place.

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Cyber Essentials 10 years on

    Source: United Kingdom – Executive Government & Departments

    A speech by cyber security Minister Feryal Clark at the 10 year anniversary event for the Cyber Essentials scheme.

    Location:
    Cholmondeley Room, House of Lords, London.
    Delivered on:
    (Original script, may differ from delivered version)

    See also:

    Good afternoon everyone.  

    Thank you for joining us to celebrate the 10 year anniversary of Cyber Essentials.  

    What an occasion. I’m very excited to be here with all of you today.   

    It’s important we take time to recognise and reflect on the success of Cyber Essentials – and how it plays an important part in making the UK more cyber resilient.  

    Two years ago the government hosted a similar event to mark the award of the one hundred thousandth Cyber Essentials certificate. This represented a significant moment in the growth of the scheme. 

    Since then, we’ve awarded almost ninety thousand more – so it looks like we may have to host yet another celebratory event in a few months time!  

    It is great to see the rapid growth in the scheme, and I firmly believe that with your help, its growth can be accelerated and its impact further reaching.  

    Now – we are often asked about how effective the scheme is.  

    We have always believed Cyber Essentials helps drive better cyber security across the economy.  

    However, we can now prove that it does.  

    Recent insurance data shows us that organisations with Cyber Essentials are 92% less likely to make a claim on their insurance than those without it.  

    Additionally, where organisations require their third parties to get Cyber Essentials, we know they experience fewer third party cyber incidents.  

    We’ll discuss this later in the panel discussion.  

    In short, Cyber Essentials is working. 

    The government has made a concerted effort over the past couple of years to assess the efficacy of the scheme.  

    Today, we have published an [independent impact evaluation report](https://www.gov.uk/government/publications/cyber-essentials-scheme-impact-evaluation, which I encourage you all to read.  

    It provides fascinating insights into the impact Cyber Essentials is having in many different areas. 

    The evaluation concludes that Cyber Essentials is providing cyber security protection to organisations of all sizes.  

    82% of certified organisations are confident the controls provide protection against common cyber threats.  

    It further concludes that Cyber Essentials is improving organisations’ awareness and understanding of the cyber security risk environment, enabling them to become more informed and confident in mitigating cyber risks.  

    We know it works, and we now need more organisations to embed the Cyber Essentials controls and grasp the economic benefits of secure digital adoption. 

    I’d now like to talk about supply chains.  

    All organisations face cyber security risks, and will benefit from getting the Cyber Essentials controls in place.  

    However, long gone is the time when protecting your own perimeter was sufficient. Supply chain attacks are increasing in prevalence, and their impact can be far reaching. 

    For example, the recent cyber attack on IT provider Synnovis had a devastating impact on London hospitals, with many thousands of appointments and operations cancelled.  

    We know many organisations across the economy are struggling to manage the cyber security risk presented by suppliers.  

    This is clearly reflected in the fact that just 6% of UK businesses are assessing cyber risks in their wider supply chain. 

    This is simply too low and presents a concerning scenario.  

    Supply chain attacks are increasing, while limited efforts are being made to address this increased risk.  

    We know it is difficult – it requires skill and valuable resources to do effectively.  

    Against this backdrop, we firmly believe Cyber Essentials has a more important role to play.  

    By requiring suppliers, or other third parties, to have Cyber Essentials themselves, customers gain tangible assurance that fundamental cyber security controls are in place, and they are protected from common cyber attacks.  

    Such assurance is no longer a ‘nice to have’ – it’s a necessity. Embedding Cyber Essentials requirements across supply chains will drive up the cyber maturity of our whole economy. 

    This is a real priority for me.  

    Which is why I’m pleased to announce that my department and the National Cyber Security Centre today published a joint statement with the UK’s largest banks and building societies. These include Santander UK, Nationwide, Barclays, Lloyds Banking Group, TSB and NatWest.  

    I thank them all for their efforts.  

    This collaboration aims to raise the levels of cyber security in critical national supply chains by exploring ways to expand the role of Cyber Essentials within their supplier assurance processes.  

    We will hear more about this shortly, but I wanted to make clear my enthusiasm and support for this collaboration, which we hope to replicate with other sectors across the economy. 

    On that note, I wanted to end with a request.  

    This new government is determined to make the UK safer, more secure and prosperous. To that end, we want to work with you, to partner with you, in raising the cyber security baseline across our economy.  

    We are taking huge strides to improve the cyber resilience of the UK, including through the forthcoming Cyber Security and Resilience Bill. The Bill will have a significant impact on enhancing the cyber resilience of the UK.  

    However, the proposed legislation must be complemented by other efforts to improve cyber security across the wider economy.  

    We must do this together.  

    Many of those in attendance today represent large, influential organisations with large supply chains.  

    I invite you all to join us on the journey to embed Cyber Essentials across the UK, by incorporating it within your own supplier requirements.  

    As you do this, we will do our utmost to ensure all organisations, especially SMEs, are supported in their efforts to become certified.  

    Together we can make a huge difference in reducing the economic and social harm impacting our businesses and citizens.  

    Thank you for being here and supporting us today. We look forward to closer collaboration in the future. 

    Thank you. 

    [ends]

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Monetary Policy Report Press Conference Opening Statement

    Source: Bank of Canada

    Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss the October Monetary Policy Report and our policy decision.

    Today, we lowered the policy interest rate by 50 basis points. This is our fourth consecutive decrease since June and brings our policy rate to 3.75%.

    We took a bigger step today because inflation is now back to the 2% target and we want to keep it close to the target.

    In the past few months, inflation has come down significantly from 2.7% in June to 1.6% in September. Recent indicators suggest it will be around 2% in October. Price pressures are no longer broad-based, and both our measures of core inflation are now under 2½%. Our surveys also find that business and consumer expectations of inflation have shifted down and are nearing normal. All this suggests we are back to low inflation. This is good news for Canadians.

    Now our focus is to maintain low, stable inflation. We need to stick the landing.

    That means the upward and downward forces on inflation need to balance out. Household spending and business investment have picked up this year, but remain soft. This softness has helped take the remaining steam out of inflation. But with inflation back to 2%, we want to see growth strengthen. Today’s interest rate decision should contribute to a pickup in demand.

    The Bank forecasts inflation will remain close to the target over the projection horizon. The upward pressure from shelter and other services is expected to gradually diminish. With stronger demand, the downward pressure on inflation is also forecast to dissipate, keeping the upward and downward forces roughly balanced.

    If the economy evolves broadly in line with this forecast, we anticipate cutting our policy rate further to support demand and keep inflation on target. The timing and pace of further interest rate cuts will depend on incoming information and our assessment of its implications for the inflation outlook. We will take our monetary policy decisions one at a time.

    Let me expand on what we’re seeing in the economy, and how that played into our deliberations.

    After stalling in the second half of last year, the economy grew by about 2% in the first half of this year, and we expect growth of 1¾% in the second half. The economy remains in excess supply and the labour market is soft. The unemployment rate was 6.5% in September. Job layoffs have remained modest but business hiring has been weak, which has particularly affected young people and newcomers to Canada. Simply put, the number of workers has increased faster than the number of jobs.

    Looking ahead, GDP growth is forecast to gradually strengthen to around 2% in 2025 and 2¼% in 2026, supported by lower interest rates. This forecast largely reflects the net effect of a gradual pick up in consumer spending per person and slower population growth. We also expect growth in residential investment to rise as strong demand for housing lifts sales and spending on renovations. Business investment is expected to strengthen as demand picks up, and exports should remain strong, supported by robust demand from the United States.

    The decline in inflation in recent months reflects the combined effects of lower global oil prices, slightly lower shelter price inflation in Canada, and lower prices for many consumer goods like cars and clothes. Going forward, we can expect to continue to see some monthly fluctuations in inflation. But overall, inflation is expected to remain close to target over the projection horizon as upward pressure from shelter and other services gradually diminishes and excess supply in the economy is absorbed.

    There are risks around our inflation outlook. The biggest downside risk to inflation is that it could take longer than anticipated for household spending and business investment to pick up. Our recent surveys suggest businesses expect subdued sales and their hiring and investment plans are modest. On the upside, lower interest rates could fuel a stronger rebound in housing activity or wage growth could remain high relative to productivity. There is also elevated geopolitical uncertainty and the risk of new shocks.

    Overall, we view the risks around our inflation forecast as reasonably balanced. With inflation back to 2%, we are now equally concerned about inflation coming in higher or lower than expected. The economy functions well when inflation is around 2%.

    Let me conclude.

    High inflation and interest rates have been a heavy burden for Canadians. With inflation now back to target and interest rates continuing to come down, families, businesses and communities should feel some relief.

    The Bank is committed to maintaining price stability for Canadians by keeping inflation close to the 2% target.

    With that summary, the Senior Deputy Governor and I would be pleased to take your questions.

    MIL OSI Canada News –

  • MIL-OSI Canada: Bank of Canada reduces policy rate by 50 basis points to 3¾%

    Source: Bank of Canada

    The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is continuing its policy of balance sheet normalization.

    The Bank continues to expect the global economy to expand at a rate of about 3% over the next two years. Growth in the United States is now expected to be stronger than previously forecast while the outlook for China remains subdued. Growth in the euro area has been soft but should recover modestly next year. Inflation in advanced economies has declined in recent months, and is now around central bank targets. Global financial conditions have eased since July, in part because of market expectations of lower policy interest rates. Global oil prices are about $10 lower than assumed in the July Monetary Policy Report (MPR).

    In Canada, the economy grew at around 2% in the first half of the year and we expect growth of 1¾% in the second half. Consumption has continued to grow but is declining on a per person basis. Exports have been boosted by the opening of the Trans Mountain Expansion pipeline. The labour market remains soft—the unemployment rate was at 6.5% in September. Population growth has continued to expand the labour force while hiring has been modest. This has particularly affected young people and newcomers to Canada. Wage growth remains elevated relative to productivity growth. Overall, the economy continues to be in excess supply.

    GDP growth is forecast to strengthen gradually over the projection horizon, supported by lower interest rates. This forecast largely reflects the net effect of a gradual pick up in consumer spending per person and slower population growth. Residential investment growth is also projected to rise as strong demand for housing lifts sales and spending on renovations. Business investment is expected to strengthen as demand picks up, and exports should remain strong, supported by robust demand from the United States.

    Overall, the Bank forecasts GDP growth of 1.2% in 2024, 2.1% in 2025, and 2.3% in 2026. As the economy strengthens, excess supply is gradually absorbed.

    CPI inflation has declined significantly from 2.7% in June to 1.6% in September. Inflation in shelter costs remains elevated but has begun to ease. Excess supply elsewhere in the economy has reduced inflation in the prices of many goods and services. The drop in global oil prices has led to lower gasoline prices. These factors have all combined to bring inflation down. The Bank’s preferred measures of core inflation are now below 2½%. With inflationary pressures no longer broad-based, business and consumer inflation expectations have largely normalized.

    The Bank expects inflation to remain close to the target over the projection horizon, with the upward and downward pressures on inflation roughly balancing out. The upward pressure from shelter and other services gradually diminishes, and the downward pressure on inflation recedes as excess supply in the economy is absorbed.

    With inflation now back around the 2% target, Governing Council decided to reduce the policy rate by 50 basis points to support economic growth and keep inflation close to the middle of the 1% to 3% range. If the economy evolves broadly in line with our latest forecast, we expect to reduce the policy rate further. However, the timing and pace of further reductions in the policy rate will be guided by incoming information and our assessment of its implications for the inflation outlook. We will take decisions one meeting at a time. The Bank is committed to maintaining price stability for Canadians by keeping inflation close to the 2% target.

    Information note

    The next scheduled date for announcing the overnight rate target is December 11, 2024. The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the MPR on January 29, 2025.

    MIL OSI Canada News –

  • MIL-OSI USA: NASA Stennis Takes Key Step in Expanding its Range Operations Work

    Source: NASA

    NASA’s Stennis Space Center near Bay St. Louis, Mississippi, has entered into an agreement with Skydweller Aero Inc. for the company to operate its solar-powered autonomous aircraft in the site’s restricted airspace, a key step towards achieving a strategic center goal.
    The Reimbursable Space Act agreement marks the first between NASA Stennis and a commercial company to utilize the south Mississippi center’s unique capabilities to support testing and operation of uncrewed systems.
    “There are few locations like NASA Stennis that offer a secure location, restricted airspace and the infrastructure to support testing and operation of various uncrewed systems,” said NASA Stennis Director John Bailey. “Range operations is a critical area of focus as we adapt to the changing aerospace and technology landscape to grow into the future.”
    NASA Stennis and Skydweller Aero finalized the agreement in late August, paving the way for the company to begin area test flights of its autonomous, uncrewed solar-powered aircraft, which features a wingspan greater than a 747 jetliner and is designed for long-duration flights. The company announced Oct. 1 it had completed an initial test flight campaign of the aircraft, including two test excursions totaling 16 and 22.5 hours.
    NASA Stennis and Skydweller Aero began talks in the summer of 2023 when the company expressed interest in utilizing NASA Stennis airspace for its all-carbon fiber aircraft. The NASA Stennis area fits the company’s needs well since it provides ready access from Stennis International Airport to the Gulf of Mexico area. NASA Stennis airspace also provides a level of privacy for aircraft testing and operation.
    “Access to the restricted airspace above NASA Stennis has been tremendously helpful to our uncrewed, autonomous flight operations,” said Barry Matsumori, president and chief operating officer of Skydweller Aero. “The opportunity to use the controlled environment above Stennis helps accelerate our efforts, allowing us to transition the aircraft in and out of civil airspace, while demonstrating its reliability and unblemished safety record to the FAA.”
    Companies must be conducting public aircraft operations to use any restricted airspace. In this instance, Skydweller Aero is flying its aircraft in association with the U.S. Department of Defense, allowing for the Reimbursable Space Act agreement with NASA Stennis.
    The agreement provides the company Federal Aviation Administration (FAA) authorization for future test flights in designated areas of the NASA Stennis buffer zone. It also represents a key step in the center’s effort to grow its range operations presence.
    “This really opens the door for others to come here,” said Jason Peterson, NASA Stennis range officer. “There are requirements that must be met, but for those who meet them, NASA Stennis is an ideal location for test and flight operations.”
    The FAA established restricted airspace at NASA Stennis in 1966 and approved its expansion in 2016. The expansion was necessary to conduct propulsion testing safely, accommodate U.S. Department of Defense missions, and support unmanned aerial systems activities.
    Restricted airspace at NASA Stennis allows qualifying organizations to conduct various uncrewed flight activities. NASA Stennis personnel provide scheduling and range operation support, including reviews and evaluations to ensure safe flight operations. Processes are in place to ensure communication between aircraft operators, FAA air traffic controllers, and range safety personnel.
    Peterson said he hopes the agreement with Skydweller Aero will clear the way for future collaborations as NASA Stennis continues to expand its customer-based operations. For instance, although Skydweller Aero is not located onsite, NASA Stennis is able to support ground operations for a variety of unmanned aircraft system takeoffs and landings.
    Beyond that, the center also hopes to expand its operational capabilities to include marine and ground activities. In addition to a large geographic footprint, the center features a secure 7.5-mile waterway canal system for testing unmanned underwater or surface vehicles.
    For information about range operations at NASA’s Stennis Space Center, visit:
    Range and Airspace Operations – NASA

    MIL OSI USA News –

  • MIL-OSI: Surfshark introduces a free data leak-checking tool during Cybersecurity Awareness Month

    Source: GlobeNewswire (MIL-OSI)

    Surfshark is launching a new, free online Data Leak Checker, offering users an easy way to monitor the safety of their personal information in recognition of Cybersecurity Awareness Month this October. Powered by Surfshark Alert, this tool allows users to check if their personal data has been compromised in a data leak by simply entering their email address. It is designed to ensure that the entered email is not used for any marketing purposes.

    The new Data Leak Checker features comprehensive scanning capabilities, allowing users to enter their email addresses to examine multiple sources for potential database and malware-related leaks. This tool continuously monitors the web to proactively ensure the security of users’ personal information across various platforms and detects instances where their data might have been compromised. 

    Upon completion of the scan, users receive a report divided into two key areas: database breaches and malware attacks. The database breaches section identifies large breached domains and compromised databases that may have included the user’s information. Meanwhile, the malware attacks section highlights potential vulnerabilities of the user’s email address due to malware activities on their device. 

    The database breach report shows the largest breached domains and compromised databases that user information was part of. For security reasons, some data may be hidden. However, complete and detailed information about the leak will be visible in Surfshark Alert.

    “Globally, approximately 18 billion user accounts have been leaked over the last 20 years, according to Surfshark’s Global Data Breach Statistics. As we launch the Data Leak Checker, we stress the importance of knowing exactly where and how your data may have been compromised. Understanding breach details can empower individuals to take informed actions to protect their personal information and prevent further damage. This tool is simple and accessible for everyone, regardless of their level of technical expertise,” said Kornelija Vanage, Alert Product Owner at Surfshark. 

    If users discover that their data has been leaked online, it’s crucial to act quickly to mitigate potential damage. First, they should change the passwords for all affected accounts, ensuring each new password is strong and unique. They might consider using a password manager to help generate and store passwords securely. Additionally, enabling two-factor authentication (2FA) on all accounts that offer it can add an extra layer of security.

    Users should then monitor their accounts for suspicious activity, such as unauthorized transactions or login attempts, and report any anomalies to the respective service providers. It’s important for users to be vigilant about phishing attempts, as attackers may use leaked information to craft convincing scams. Investing in tools that monitor data safety is also advised.

    NOTES TO EDITORS Surfshark is a cybersecurity company focused on developing humanized privacy and security solutions. The Surfshark One suite includes one of the very few VPNs audited by independent security experts, an officially certified antivirus, a private search tool, and a data leak alert system. Surfshark ranks 47th in the Financial Times 1000: Europe’s Fastest Growing Companies list and is recognized as the Tech Advisor’s Editor’s Choice for 2024. For a closer look at Surfshark in 2023, visit our annual wrap-up.

    The MIL Network –

  • MIL-OSI: Epsilon Energy Ltd. Schedules Third Quarter 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Oct. 23, 2024 (GLOBE NEWSWIRE) — Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today announced that it will issue its third quarter 2024 earnings release on Wednesday, November 06, 2024 after the market close and host a conference call to discuss its financial and operating results on Thursday, November 7, 2024 at 2:00 p.m. Central Time (3:00 p.m. Eastern Time).

    Interested parties in the United States and Canada may participate toll-free by dialing (833) 816-1385. International parties may participate by dialing (412) 317-0478. Participants should ask to be joined to the “Epsilon Energy Third Quarter 2024 Earnings Conference Call.”

    A webcast can be viewed at: : https://event.choruscall.com/mediaframe/webcast.html?webcastid=S0pmngFY. A webcast replay will be available on the Company’s website (www.epsilonenergyltd.com) following the call.

    About Epsilon

    Epsilon Energy Ltd. is a North American onshore natural gas and oil production and gathering company with assets in Pennsylvania, Texas, New Mexico, and Oklahoma.

    Contact Information:

    281-670-0002

    Jason Stabell
    Chief Executive Officer
    Jason.Stabell@EpsilonEnergyLTD.com

    Andrew Williamson
    Chief Financial Officer
    Andrew.Williamson@EpsilonEnergyLTD.com

    The MIL Network –

  • MIL-OSI Economics: Change happens – and why central banks care

    Source: Bank for International Settlements

    It is a great pleasure for me to join you today. Many thanks to the staff at the Federal Reserve Bank of Philadelphia for the invitation. 1

    BIS Innovation Hub

    Today I want to talk about change and central banks. But before I begin, allow me to briefly introduce the BIS Innovation Hub. The Bank for International Settlements supports central banks in their pursuit of monetary and financial stability by fostering international cooperation. The Innovation Hub was created five years ago and can be described as a joint venture between the BIS and the central banks who host our seven centres. The Innovation Hub has almost 100 people working together across the world. Our mandate is to follow and explore new technology and, when suitable, develop public goods. And to do that we research technologies and challenges that matter to central banks by building proofs of concept or prototypes. In more than 30 projects to date, we have collaborated with central banks and other partners to demonstrate the art of the possible. Currently, tokenisation and artificial intelligence are important areas for us, where we have multiple projects under way. Another crucial area is ensuring the integrity and safety in the financial system by exploring possible improvements to services like payments. Again, we aim to demonstrate the art of the possible. Adopting some of the technologies or implementing the outcomes of our projects is not up to us. Ultimately, countries’ authorities decide what becomes reality in their jurisdictions.

    So why am I here? Well, when I was asked to join you here at the Philadelphia Fed, I immediately said yes. Maybe too fast, because the organisers kept asking me what I wanted to announce. I had to disappoint them. This is not a public service announcement. I am not trying to sell you anything. What I want to do in the next 10 minutes is explain why central banks care about change and innovation – and why that matters to us all.  

    Technology and change

    Let me start with innovation and change, for which I will look to Adam Smith. Who better? The Wealth of Nations was published about 250 years ago. And Adam Smith uses the example of moving goods by road or by ship. Canal companies were the big techs of the day. They could move things faster and cheaper, and only the most niche products chose the horse and cart. Yet 100 years later, the transport network and – by extension the industrial capacity of Britain – was totally unrecognisable.

    What changed? In that time, railways happened. Or more accurately, innovation changed how railways were used. There were railways when Adam Smith was writing. But they were small, private and horse-drawn. He did not even mention them as a contender to roads and ships. But 50 years of innovation in steam engines – to make them smaller, faster and more efficient – would make railways far superior to canals. Following some smaller private railways, the first public railway – from Liverpool to Manchester – opened in 1830. At that time, there were about 125 miles of railways in England. Over the next 40 years, this grew to 13,000 miles. Canals were dead in the water.

    Was the change smooth, clearly predictable and always rational and obvious? No. Was it just the technology advantages that catalysed the change? No. It was many things. Financial innovations meant that investments in railways were easier. Yet this also created a financial bubble. Early safety regulations reassured a sceptical public – but not before some terrible accidents. Competition drove further innovation but resulted in a grossly inefficient network. When agreement on a standardised width of railway gauge was eventually brokered, network effects could be enhanced. The standard adopted was George Stephenson’s 4 feet, 8 1⁄2 inches, which spread across England and internationally. I have been told the United States uses it too.

    But why am I telling you a story about something that happened in England hundreds of years ago? Well first, I enjoy history. But second, because it is a great example of how technologies change. Do you see any parallels with today? Railways did not just “win” overnight. They were initially less efficient than canals. Canal owners saw the threat and organised resistance. Yet railways improved faster than canals could – at least once steam engines became technologically and commercially viable. Investment played a significant role in this. So, at times, did safety regulations and politics. There were battles about which standards should be used. And importantly, change driven by technology and innovation is not an elegant dance. It is a race and a tussle and sometimes a mess.

    To really make the point, allow me one more historical example closer to home. The Federal Reserve Bank of New York recently published an article about when securities markets scrapped paper in the 1960s and ’70s. At that time, IBM and Honeywell were in a race to develop more powerful computers. And stockbrokers were racing one another to use them for competitive advantage. The winners of that race went on to dominate securities markets for decades because they bought out the failing houses that could not operate their computers as effectively. And the digital infrastructures they created, based on the paper processes before them, are the ones we use now. And they are the same infrastructures now experimenting with tokenisation and are maybe on the cusp of another change.

    Understanding change

    How do industries and society manage these huge changes? Almost all industries have regulations of various kinds to ensure safety, competition and transparency – standards with a large or small “s” that are adhered to. Yet finance has something that planes, trains and automobiles do not. Finance has central banks. And why do they care about innovation and change?

    First, for monetary analysis. For central banks to set interest rates to stabilise prices they have to understand the economy. The data collection and analysis of credit, demand, output, supply, costs, prices and labour markets all roll up to into determining monetary policy. And innovation can have a huge impact. AI is an obvious example. But digitalisation more broadly has had and will continue to have a fundamental impact on the global economy. For effective policymaking, central banks need to understand where things are heading. So they must follow and explore innovation and its implications. 

    Second, central banks care about innovation because of their oversight role. For prudential supervision of banks and market infrastructure, it is necessary to understand how technology is being used and the effect of any large changes. Financial stability analyses are increasingly concerned with how financial and operational risks interact. Technology is a significant variable in that analysis.

    Third, central banks do not just think; within their mandate, they act. To deliver on their monetary policy objectives, they decide where interest rates need to be. And then they act through their market operations to make that happen. Central banks want safe settlement and so they offer it – by operating payment systems to safely and reliably move substantial amounts of money every day. And they provide banknotes.

    It is because central banks act that they are really part of any change – not on the sidelines or just observing, but really involved. As part of the financial ecosystem, central banks offer settlement in central bank money, which is the safest settlement asset possible and a pillar of a stable and robust financial system. And this is what makes them so different from a regulator in any other space. To put it very simply, if central banks think technology is changing, they need to consider and adapt as well. And they need to change operations and systems that require the highest possible resilience from cyber threats and operational risk. That puts a very different slant on any decision and perhaps adds some caution. It might also add some practicality. And importantly for an economist, it gives central banks skin in the technology game – and the right incentives.

    Incentives matter. Trust in money is grounded on two things. The first is the central bank’s monetary policy framework and operational independence. The second is the competence to carry out its role. And that competence increasingly means the ability to use technology better. To do that we experiment. We collaborate. We get involved. But our role is not to win or to profit or to tell the private sector how to run their business. The private sector will always know what customers need and want better than the public sector. But it is also important to have the public sector involved, with public policy objectives such as stability, safety, interoperability and compliance.

    BIS and international cooperation

    To close I want to talk about how these themes of technology, change and incentives play out internationally. Central banks are different from one another. But I have spoken for almost 10 minutes about their interests and incentives as a homogeneous group. And if I can do that, they must be similar enough to cooperate.

    The BIS’s job is to help and guide central bank cooperation. Given what I have said, that should be easy. But collaboration is not always simple. Yet, with the right governance and communications, building knowledge by running projects together could reap great rewards for central banks.

    Our projects are “just” a first look at what is possible. Projects are not a commitment. Some of the questions like whether there is a need for central bank digital currency or digital identity can only be answered politically. The central bank is one of many advisers on a decision that should be made with other players in our societies. That is right and that is normal. Yet the fact remains, for good policymaking on any subject, you need understanding. And with technology, you need to experiment and collaborate to obtain that understanding. 

    So, I thank you again for the invitation and attention. I will close with a quote from Adam Smith: “I have never known much good done, by those who affected to trade for the public good.” Eerily, he foresaw a version of what US president Ronald Reagan famously highlighted as the nine most terrifying words: “I’m from the government and I’m here to help.” The BIS Innovation Hub has a mandate to explore technology and to develop public goods. But others ultimately decide what could be changed. Our job is to learn and advise them so that when change happens, it can happen for the better.

    Thank you for listening.  

    MIL OSI Economics –

  • MIL-OSI Africa: IMF isn’t doing enough to support Africa: billions could be made available through special drawing rights

    Source: The Conversation – Africa – By Kevin P. Gallagher, Professor of Global Development Policy and Director, Global Development Policy Center, Boston University

    At the 2021 UN Climate Summit, Barbados prime minister Mia Mottley called for more and better use of special drawing rights (SDRs), the International Monetary Fund’s reserve asset.

    The special drawing right is an international reserve asset created by the IMF. It is not a currency – its value is based on a basket of five currencies, the biggest chunk of which is the US dollar, followed by the euro. It is a potential claim on the freely usable currencies of IMF members. Special drawing rights can provide a country with liquidity.

    Countries can use their special drawing rights to pay back IMF loans, or they can exchange them for foreign currencies.

    As Mottley is the newest president of the Climate Vulnerable Forum and Vulnerable Group of 20 (V20) finance ministers, which represents 68 climate-vulnerable countries that are among those with the most dire liquidity needs, including 32 African countries, her call would be directly beneficial to African countries.

    In August 2021, as the shock from the COVID-19 pandemic battered their economies, African countries received a lifeline of US$33 billion from special drawing rights. This amounts to more than all the climate finance Africa receives each year, and more than half of all annual official development assistance to Africa.

    This US$33 billion did not add to African countries’ debt burden, it did not come with any conditions, and it did not cost donors a single cent to provide.

    IMF members can vote to create new issuances of special drawing rights. They are then distributed to countries in proportion to their quotas in the IMF. Quotas are denominated in special drawing rights, the IMF’s unit of account.

    Quotas are the building blocks of the IMF’s financial and governance structure. An individual member country’s quota broadly reflects its relative position in the world economy. Thus, by design, the poorest and most vulnerable countries receive the least when it comes to quotas and voting shares.

    Special drawing rights cannot solve all of Africa’s economic challenges. And their highly technical nature means they are not always well understood. But at a time when African countries are facing chronic liquidity challenges – most countries in the region are spending more on debt service payments than they are on health, education, or climate change – our new research shows that special drawing rights can play an important role in establishing financial stability and enabling investments for development.

    Financial stability includes macroeconomic stability (such as low inflation, healthy balance of payments, sufficient foreign reserves), a strong financial system and resilience to shocks.

    African leaders are approaching a critical year-long opportunity: in November, the first Group of 20 (G20) summit will convene (with the African Union in attendance as a member for the first time). Then in December South Africa assumes the G20 presidency.

    Read more: South Africa will be president of the G20 in 2025: two much-needed reforms it should drive

    As African leaders advocate for reforms to the international financial architecture, maximising the potential of special drawing rights should be a central component of their agenda.

    The problem

    African countries’ finances are facing tough times. External debt in sub-Saharan Africa has tripled since 2008. The average government is now spending 12% of its revenue on external debt service. The COVID-19 pandemic, Russia’s war in Ukraine, and rises in interest rates and the prices of commodities, like food and fertiliser, have all contributed to this trend.

    Debt restructuring mechanisms have also proved inadequate. Countries like Zambia and Ghana got stuck in lengthy restructurings. Weak institutional capacity and poor governance also impede efficient use of public resources.

    At the same time, African economies need to increase investment to advance development, support a young and growing population, develop climate resilience and take advantage of the opportunity presented by the energy transition.

    To meet the resources for a just energy transition and the attainment of the UN 2030 Sustainable Development Goals, investment in climate and development will have to increase from around 24% of GDP (the average for Africa in 2022) to 37%.

    Special drawing rights have proved to be an important tool in addressing these challenges. Research by the IMF and others shows that African countries significantly benefited from the special drawing rights they received in 2021 to stabilise their economies. And this happened without worsening debt burdens or costing advanced economies any money, particularly as they cut development aid.

    However, advanced economies exercise significant control over the availability of special drawing rights. The IMF’s quota system determines both voting power and their distribution. Advanced economies control most of the IMF’s quotas.

    The advanced economies made the right decision in 2021 and in 2009 to issue new special drawing rights and the time has come again.

    The solution

    African and other global south leaders need to make a strong case for another issuance of special drawing rights at the IMF and World Bank meetings in Washington.

    In addition to a new issuance of special drawing rights, advanced economies still need to be pressured to re-channel the hundreds of billions of special drawing rights sitting idle on their balance sheets into productive purposes.

    The 2021 allocation of special drawing rights amounted to US$650 billion in total. But only US$33 billion went to African countries due to the IMF’s unequal quota distribution. Meanwhile advanced economies with powerful currencies and no need for special drawing rights received the lion’s share.

    The African Development Bank has spearheaded one such proposal alongside the Inter-American Development Bank. Under this plan, countries with unused special drawing rights could re-channel them to the African Development Bank as hybrid capital, allowing the bank to lend around $4 for each $1 of special drawing rights it receives.

    The IMF approved the use of special drawing rights as hybrid capital for multilateral development banks in May. But it set an excessively low limit of 15 billion special drawing rights across all multilateral development banks.

    Even so, advanced economies have been slow to re-channel special drawing rights. The close to $100 billion that have been re-channelled – mostly to IMF trust funds – is meaningful.

    But it still falls short of what should have been re-channelled.

    In the long term, IMF governance reforms are needed to avoid a repeat of the inefficient distribution of special drawing rights.

    Read more: The World Bank and the IMF need to keep reforming to become fit for purpose

    As African countries rightly push to change shortcomings of the international financial architecture, new special drawing rights issuances should be at the centre of such a strategy. The IMF’s 2021 special drawing rights issuance showed the tool’s scale and importance. And special drawing rights re-channelling has had positive effects in easing debt burdens and freeing up financing to recover from the COVID-19 pandemic.

    With 2030 approaching and the window shrinking for climate action, global leaders should be using all the tools at their disposal, including special drawing rights, to build a more resilient future.

    – IMF isn’t doing enough to support Africa: billions could be made available through special drawing rights
    – https://theconversation.com/imf-isnt-doing-enough-to-support-africa-billions-could-be-made-available-through-special-drawing-rights-241428

    MIL OSI Africa –

  • MIL-OSI Global: California’s governor blocked landmark AI safety laws. Here’s why it’s such a key ruling for the future of AI worldwide

    Source: The Conversation – UK – By Irfan Mehmood, Associate Professor in Business Analytics and AI, University of Bradford

    Anggalih Prasetya / Shutterstock

    In a world where artificial intelligence is rapidly shaping the future, California has found itself at a critical juncture. The US state’s governor, Gavin Newsom, recently blocked a key AI safety bill aimed at tightening regulations on generative AI development.

    The Safe and Secure Innovation for Frontier Artificial Intelligence Models Act (SB 1047) was seen by many as a necessary safeguard on the technology’s development. Generative AI covers systems that produce new content in text, video, images and music – often in response to questions, or “prompts”, by a user.

    But Newsom said the bill risked “curtailing the very innovation
    that fuels advancement in favour of the public good”. While agreeing the public needs to be protected from threats posed by the technology, he argued that SB 1047 was not “the best approach”.

    What happens in California is so important because it is the home of Silicon Valley. Of the world’s top 50 AI companies, 32 are currently headquartered within the state. California’s legislature therefore has a unique role in efforts to ensure the safety of AI-based technology.

    But Newsom’s decision also reflects a deeper question: can innovation and safety truly coexist, or do we have to sacrifice one to advance the other?

    California’s tech industry contributes billions of dollars to the state’s economy and generates thousands of jobs. Newsom, along with prominent tech investors such as Marc Andreessen, believes too many regulations could slow down AI’s growth. Andreessen praised the veto, saying it supports “economic growth and freedom” over excessive caution.

    However, rapidly advancing AI technologies could bring serious risks, from spreading disinformation to enabling sophisticated cyberattacks that could harm society.
    One of the significant challenges is understanding just how powerful today’s AI systems have become.

    Generative AI models, like OpenAI’s GPT-4, are capable of complex reasoning and can produce human-like text. AI can also create incredibly realistic fake images and videos, known as deepfakes, which have the potential to undermine trust in the media and disrupt elections. For example, deepfake videos of public figures could be used to spread disinformation, leading to confusion and mistrust.

    AI-generated misinformation could also be used to manipulate financial markets or incite social unrest. The unsettling part is that no one knows exactly what’s coming next. These technologies open doors for innovation – but without proper regulation, AI tools could be misused in ways that are difficult to predict or control.

    Gavin Newsom said the bill could stifle innovation.
    Sheila Fitzgerald / Shutterstock

    Traditional methods of testing and regulating software fall short when it comes to generative AI tools that can create artificial images or video. These systems evolve in ways that even their creators can’t fully anticipate, especially after being trained on vast amounts of data from interactions with millions of people, such as ChatGPT.

    SB 1047 sought to address this concern by requiring companies to implement “kill switches” in their AI software that can deactivate the technology in the even of a problem. The law would also have required them to create detailed safety plans for any AI project with a budget over US$100 million (£77.2m).

    Critics said the bill was too broad, meaning it could affect even lower-risk projects. But its main goal was to set up basic protections in an industry that’s arguably moving faster than lawmakers can keep up with.

    California as a global leader

    What California decides could affect the world. As a global tech leader, the state’s approach to regulating AI could set a standard for other countries, as it has done in the past. For example, California’s leadership in setting stringent vehicle emissions standards through the California Consumer Privacy Act (CCPA), and its early regulation of self-driving cars, have influenced other states and countries to adopt similar measures.

    But by vetoing SB 1047, California may have sent a message that it’s not ready to lead the way in AI regulation. This could leave room for other countries to step in – countries that may not care as much as the US about ethics and public safety.

    Tesla’s CEO, Elon Musk, had cautiously supported the bill, acknowledging that while it was a “tough call”, it was probably a good idea. His stance shows that even tech insiders recognise the risks AI poses. This might be a sign the industry is ready to work with policymakers on how best to regulate this new breed of technology.

    The notion that regulation automatically stifles innovation is misleading. Effective laws can create a framework that not only protects people, but allows AI to grow sustainably. For example, regulations can help ensure that AI systems are developed responsibly, with considerations for privacy, fairness and transparency. This can build public trust, which is essential for the widespread adoption of AI technologies.

    The future of AI doesn’t have to be a choice between innovation and safety. By implementing reasonable safeguards, we can unlock the full potential of AI while keeping society safe. Public engagement is crucial in this process. People need to be informed about AI’s capabilities and risks to participate in shaping policies that reflect society’s values.

    The stakes are high and AI is advancing rapidly. It’s time for proactive action to ensure we reap the benefits of AI without compromising our safety. But California’s killing of the AI bill also raises a wider question on the increasing power and influence of tech companies, given they raised objections that subsequently led to its veto.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. California’s governor blocked landmark AI safety laws. Here’s why it’s such a key ruling for the future of AI worldwide – https://theconversation.com/californias-governor-blocked-landmark-ai-safety-laws-heres-why-its-such-a-key-ruling-for-the-future-of-ai-worldwide-240182

    MIL OSI – Global Reports –