Category: Machine Learning

  • MIL-OSI Banking: World’s Largest Debt Conversion for Conservation of a River and its Watershed Completed in El Salvador

    Source: CAF Development Bank of Latin America

    All savings generated by the transaction will be applied over time to support conservation, water security, and ecosystem restoration in the Lempa River (Rio Lempa) watershed. JPMorgan Chase Bank, N.A. acted as sole arranger and lender for the loan and J.P. Morgan Securities LLC acted as dealer manager in the tender offer for El Salvador’s bonds.

    DFC, the U.S. Government’s international development bank, is providing $1 billion in political risk insurance (PRI) while CAF is providing a $200 million standby letter of credit (SBLC). The combination of the DFC PRI and the CAF SBLC will provide integral credit enhancements that support the transaction, which in turn catalyzes the additional investment in El Salvador’s conservation and ecosystem restoration efforts in the Rio Lempa watershed. ArtCap Strategies acted as financial advisor and global coordinator for the transaction.

    The Rio Lempa watershed is one of the longest rivers in Central America and plays an important role in the well-being of cities, communities and the economy in El Salvador by providing drinking water, as well as supporting industry and hydropower generation, and irrigation. It also supports diverse ecosystems that represent a large portion of the country’s environmental heritage. Projects funded by the savings from the transaction are expected to enhance water quality, quantity, and reliability; strengthen climate resilience; protect the watershed’s natural ecosystem; and mitigate water security risk in the region.

    Through this transaction, the Government of El Salvador will realize more than $352 million in lifetime savings through a combination of immediate notional debt savings and material reductions in debt service costs. $350 million of these savings will be applied to the Rio Lempa Conservation and Restoration Program (the “Program”) over the next 20 years in support of the country’s commitment to watershed conservation in the Rio Lempa basin. Specifically, $200 million, or an average of $9.75 million annually over 20 years, will fund the Program directly, while $150 million, or approximately $7 million per year, will fund an endowment. The funds in the endowment will be invested and are intended to become a source of ongoing funding for the Program beyond 2044. This $350 million allocation represents the largest funding commitment a country has ever made for conservation in a debt conversion transaction.

    CRS and FIAES will jointly manage the Program and will collaborate with key government water and environmental agencies to enhance water security and watershed health, promote biodiversity, stimulate economic development through regenerative agriculture, and strengthen planning and management capacities in the Rio Lempa watershed. The Program will make grants to non-governmental organizations operating in El Salvador in support of these goals, with initial grants set to disburse in 2025.The Program will be governed by a seven-member Board of Directors that includes one representative from the Government of El Salvador, one representative from the U.S. Agency for International Development (USAID), and five non-governmental representatives.

    In addition, the Government of El Salvador has committed to: (i) establish a zonal organization to oversee conservation and restoration of the Rio Lempa watershed; (ii) approve a National Integrated Water Resources Plan; (iii) establish a water resources data monitoring system for the Rio Lempa watershed; (iv) develop protocols for issuing water use permits; (v) establish a public feedback and complaint mechanism for violations of the National Water Resources Law and Environmental Law; (vi) contribute to the decision-making process by developing standards for calculating costs related to drinking water and sanitation services; and (vii) declare 75,000 hectares of protected aquifer recharge zones throughout the watershed by 2044.

    White & Case LLP acted as legal adviser to the Republic.

    “This debt conversion represents the most ambitious and impactful environmental action in El Salvador’s history. It not only reaffirms this government’s commitment to economic growth, it also enables us to achieve this growth while preserving one of our most precious natural resources: the Lempa River watershed. With support from international parties, we are executing the largest debt conversion transaction of its kind to date. This debt conversion project promotes sustainable development for our communities, strengthens our water security, and protects our ecosystems to secure the well-being of this generation and those to come. With this debt conversion, we aim to transform the environmental and economic future of El Salvador,” said Nayib Bukele, President of El Salvador.

    “Since its inception, DFC has been a pioneer in the field of debt conversions. Today’s announcement presents the world’s first-ever debt conversion for watershed conservation and water security. This transaction will protect critical resources while helping unburden the Salvadoran economy and promoting the growth of a vibrant private sector that will create more opportunities for Salvadoreans to find employment in their communities. DFC is committed to continuing to leverage our unique financial tools in innovative ways in pursuit of our developmental priorities around the world,” said DFC CEO Scott Nathan. 

    “At CAF, we are committed to becoming the green bank of Latin America and the Caribbean. Therefore, we are investing $25 billion by 2026 to finance environmental, climate change, and biodiversity initiatives, such as the one we are announcing today in partnership with the Government of El Salvador, DFC, CRS, and FIAES. This historic financing demonstrates that, through joint efforts, we can advance innovative financial mechanisms that accelerate sustainable development,” said Sergio Díaz-Granados, Executive President of CAF. 

    CRS is excited to be part of this transformative program in El Salvador, which sets a new standard for the scale and long-term funding needed to restore and protect critical water resources for current and future generations. This program came together because of bold leadership and collective action by a dynamic and diverse team,” said Carla Fajardo, Regional Director for Latin America and the Caribbean, Catholic Relief Services.

    “FIAES is pleased to participate in the Rio Lempa Conservation and Restoration Program, acting as a strategic partner of the Government of El Salvador and the Government of the United States of America, as a fund administrator and program co-manager. The Río Lempa watershed is a valuable natural resource for our country since it covers 49 percent of the territory and supplies 68 percent of the national water needs; therefore, its preservation is essential to guarantee the sustainability of its ecosystem services”, said Jorge Oviedo, Executive Director of FIAES. 

    “ArtCap is proud to have spearheaded the coordination of this landmark transaction, uniting public and private stakeholders to help develop a comprehensive financial and conservation strategy. This program will deliver an important source of long-term funding for projects focused on the Rio Lempa watershed.  By acting as a private sector catalyst, ArtCap was able to set a new precedent for collaboration among public and private stakeholders that helped to achieve a program with an impressive scale. We hope the success of this transaction will encourage further innovation in conservation finance,” said Antonio Navarro, Managing Partner, ArtCap Strategies. 

    About DFC:

    The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.

    About CAF:

    CAF – Development Bank of Latin American and Caribbean – has the mission to promote sustainable development and regional integration by financing public and private sector projects, providing technical cooperation, and offering other specialized services. Established in 1970 and currently composed of 21 countries – 19 from Latin America and the Caribbean, along with Spain and Portugal – and 13 private banks, it is one of the main sources of multilateral financing and a significant knowledge generator for the region. 

     

    About Catholic Relief Services:

     Catholic Relief Services is the official international humanitarian agency of the Catholic community in the United States. The agency alleviates suffering and provides assistance to people in need in more than 100 countries, without regard to race, religion or nationality. CRS works at the nexus of sustainable agriculture, watershed management, and water supply to support governments, partners, communities, and all stakeholders to provide truly sustainable solutions that increase crop production, improve water for human health, and mitigate climate change. CRS has worked in El Salvador for over 50 years, supporting a network of local partners.

     

    About FIAES:

     FIAES was launched in 1993 as a Conservation Trust Fund as a result of a debt-for-nature swap between the Government of the United States of America and the Government of El Salvador to support the restoration and conservation of natural resources in El Salvador. FIAES manages multiple funds including several debt-for-nature swaps, environmental compensation funds from the Government of El Salvador, and several conservation grants from international organizations. Over the past 31 years, FIAES has invested more than $90 million in conservation and restoration of coastal marine and terrestrial ecosystems.

     

    About ArtCap Strategies:

    ArtCap Strategies is a private credit fund and a leading financial advisory firm specializing in innovative, sustainable financing solutions for public and private sector clients (among other strategies). With a focus on structuring and investing in deals that address global challenges such as climate resilience, water security, and sustainable development, ArtCap works closely with governments, multilateral institutions, and private investors to create impactful financial strategies. ArtCap’s expertise lies in coordinating complex transactions that not only generate economic value, but also drive environmental and social progress, setting new standards in responsible finance.  

    This announcement may contain forward-looking statements. Forward-looking statements are statements that are not historical facts. These statements are based on El Salvador’s current plans, estimates, assumptions, and projections. Therefore, you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and El Salvador undertakes no obligation to update them in light of new information or future events. This announcement is not an offer to purchase or the solicitation of an offer to sell any securities. This announcement is not for release, publication or distribution in or into, or to any person located or resident in, any jurisdiction where it is unlawful to release, publish or distribute such announcement.

    MIL OSI Global Banks

  • MIL-Evening Report: For Deaf people, train travel can be a gamble. But an AI-powered Auslan avatar can help

    Source: The Conversation (Au and NZ) – By Jessica Korte, Senior Lecturer, School of Computer Science, Queensland University of Technology

    Denis Belitsky/Shutterstock

    For Deaf people, train travel can be a gamble. On an average day, nothing goes wrong: they catch their train to their destination and carry on with their business.

    But when something out of the ordinary happens, the situation can quickly get scary, because most updates are only delivered by audio announcements. A Deaf traveller may miss their train because it was moved to a different platform, or watch as their station whizzes by because the train isn’t stopping there today. They may also remain on a train carriage in an emergency after everyone else has evacuated, and have to be rescued by station staff.

    Every single one of these examples has been drawn from the real life experiences of Deaf people in Sydney. But my colleagues and I are working with Sydney Trains and members of the Australian Deaf community to develop an advanced, artificial intelligence (AI)-powered signing avatar which can automatically translate audio announcements into Auslan.

    Our work on the avatar also builds towards the next step: developing AI systems which can “understand” Auslan.

    Journeys don’t always go to plan

    Earlier this year, my colleagues and I ran a pilot study with three Deaf train travellers in Sydney. As well as the stories they shared about what can go wrong during train travel, we learned they use tried and tested strategies for making their journeys go smoothly.

    Their strategies might be familiar to regular commuters. For example, they would plan their journeys with an app, arrive early and look for signage to let them know if anything had changed.

    But they also said they felt they needed to stand near information screens to watch for updates, and ask station staff or other passengers for information when the situation had changed. They also reported being hypervigilant while on the train, watching to make sure they don’t miss their stop.

    But these strategies didn’t always ensure Deaf travellers received important information, including about emergencies. For example, while usually helpful, station staff were sometimes too busy to assist.

    The greatest frustration came in situations where other passengers weren’t willing or able to provide information, leaving our Deaf travellers to just “follow the crowd”. This often meant ending up in the wrong place.

    Developing a signing avatar

    Speech-to-text software might seem like an easy solution to some of these problems. But for many Deaf people, English is not their native language and Auslan can be processed far more easily and quickly.

    Our Deaf travellers told us that, in a perfect world, they would want live interpreters. However, automatic, AI-powered translation using a signing avatar displayed on a platform or train screen which could identify key words in an audio announcement, generate a sentence with correct Auslan grammar, and stitch together the corresponding signs from our vocabulary library was appealing for a number of reasons.

    Avatar by Maria Zelenskaya, QUT. Auslan by Julie Lyons, QUT.

    First, it allows for real-time translation of announcements that use known vocabulary – which is relevant in the trains-and-stations context, where many announcements cover similar topics.

    Second, an avatar and its signing can be customised to the needs of a given situation, such as using information about screen location to ensure the avatar signs in the right direction while pointing out exits or other platforms.

    Third, multiple signers can contribute signs to an avatar’s vocabulary, which can then be smoothly stitched together to make a sentence.

    And importantly, an avatar means no real person has to be the “face” of an organisation’s automatically generated announcements. This is particularly important because the Australian Deaf community is small and close knit, and if something goes wrong with the translation, nobody suffers any reputational damage.

    From a technical point of view, an avatar also allows us to ensure a minimum quality threshold for signing. We’re using motion capture to make sure each sign in our vocabulary library is accurate, and movements are clear.

    It also helps us avoid the “uncanny valley” – an effect where something human-like but subtly wrong is unsettling. We don’t want any of the many-fingered monstrosities you may have seen recently generated by AI.

    AI for everyone

    This work is one step in our broader aim of creating an AI system which can understand Auslan. This AI could be used to help Deaf and hearing station staff converse, or to create “chatbot booths” or app-based assistants that would allow Deaf people to get information on demand in Auslan about their train journeys or other daily tasks.

    Sign languages and Deaf cultures around the world have nuances and complexities that hearing researchers and developers of AI may not be aware of. These nuances and complexities must be embedded in new technologies, and researchers and developers must take a language-first approach to AI data collection and design with – not just for – Deaf people.

    Only then will AI meet Deaf people’s real needs: to ensure their safety and independence in every aspect of daily life.

    Jessica Korte has received funding from Qvest Australia, a technology solutions partner to Sydney Trains.

    ref. For Deaf people, train travel can be a gamble. But an AI-powered Auslan avatar can help – https://theconversation.com/for-deaf-people-train-travel-can-be-a-gamble-but-an-ai-powered-auslan-avatar-can-help-241016

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Russia: The hotline for receiving meter readings has received more than 27 million calls over 12 years

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Over the 12 years of operation, the hotline for registering readings of individual metering devices of the citywide contact center (CCC) has received more than 27 million calls from residents of the capital.

    “Every year, the demand for a hotline for transmitting meter readings is growing. If in the first year of operation it received 67 thousand calls from residents, then since the beginning of 2024 alone – more than four million. This is the most robotic line of the OKC – up to 99 percent of calls on it are received by a voice assistant without involving operators. The use of artificial intelligence technologies allows saving citizens’ time and makes the process of transmitting meter readings convenient and fast,” said Andrey Savitsky, head of the citywide contact center.

    As noted inDepartment of Information Technology of the City of Moscow, the voice assistant has been receiving readings from water meters since September 2012, and from electricity meters since October 2023. Over the year, residents transmitted electricity meter readings by phone about 200 thousand times, of which more than 122 thousand were with the help of the voice assistant.

    Artificial intelligence can not only register data, but also help prevent errors when transmitting information. For example, if a person names a number much higher or lower than previously transmitted readings, the virtual assistant will report this and offer to clarify the information.

    How to transmit meter readings by phone

    To submit water or electricity meter readings, you need to call the hotline of the citywide contact center: 7 495 539-25-25. Calls are received around the clock by a voice assistant. You need to tell the virtual assistant your personal account number, apartment and meter, and then provide the current readings. Artificial intelligence will record them and automatically redirect them to the system. If the data cannot be transmitted, the voice assistant will prompt the reason, for example, it will report a malfunction of the meter or the need for a scheduled inspection. In addition, it can inform you where to go to resolve these issues. If necessary, the voice assistant will connect you to a contact center operator.

    Water consumption data must be submitted from the 15th of the current month to the third of the following month inclusive, and electricity meter readings must be submitted monthly from the 15th to the 26th.

    This can also be done online on the city portal mos.ru, in the Telegram messenger using a bot @mos_services_here and in the mobile applications “My Moscow” and “Gosuslugi Moskvy” using the service “Receiving readings and paying for electricity”. You can independently submit readings at the “My Documents” government service centers, in the premises of the control room of your district or the management company.

    If the meters are equipped with an automated information and measuring system for commercial metering, the data is entered into the system automatically.

    The citywide contact center has been operating in Moscow since 2011 and includes more than 70 hotlines. Every month, it receives about five million calls from residents. Half of the calls are processed by artificial intelligence without involving operators. In just 12 years, Muscovites have called the citywide contact center more than 365 million times, including over 40 million this year. Residents contact to clarify the status of document processing and public transport schedules, make an appointment with a doctor, call a technician to fix utility problems, and for other issues.

    The implementation of digital solutions in public administration corresponds to the objectives of the national program “Digital Economy of the Russian Federation” and the regional project of the city of Moscow “Digital Public Administration”. More information about this and other national projects implemented in the capital can be found Here.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.mos.ru/nevs/item/145304073/

    MIL OSI Russia News

  • MIL-OSI China: Chinese automakers push forward with growth plans

    Source: China State Council Information Office

    People visit the pavilion of Chinese carmaker BYD at the 2024 Paris Motor Show during the media day in Paris, France, Oct. 14, 2024. [Photo/Xinhua]

    Chinese automakers are pushing forward with their development plans despite protectionist tariff threats from the European Union.

    Nine leading Chinese brands, including BYD, Xpeng, and Leapmotor, showcased new electric vehicle (EV) models at the 2024 Paris Motor Show, highlighting their technological advancements and determination to grow.

    Among the key unveilings was Leapmotor’s global debut of its B10 model, a compact electric SUV that will be manufactured in Poland for European consumers.

    Zhu Jiangming, founder of Leapmotor, outlined the B10’s advanced features, which include Advanced Driver Assistance Systems, a customizable digital cockpit, and intelligent driving capabilities. He also noted the company’s collaboration with the Stellantis team for chassis tuning, aiming to meet the preferences of younger consumers seeking innovation and quality.

    “The debut highlights Leapmotor’s rapid growth in Europe, with over 200 dealers already established across 13 markets, aiming to reach 500 sales points by 2025,” Leapmotor revealed.

    Stellantis CEO Carlos Tavares commended Leapmotor’s rapid growth and its in-house R&D capabilities, highlighting that the Leapmotor joint venture will promote affordable EVs globally and reshape Europe’s EV market.

    China’s Dongfeng Liuzhou Motor Co., Ltd. showcased four new energy vehicles: the flagship luxury Forthing V9 MPV, the pure electric sedan Forthing S7, the pure-electric SUV Friday and the hybrid MPV U-Tour.

    General Manager Lin Changbo emphasized the company’s portfolio of over 21,000 active patents, highlighting the commitment to enhancing global competitiveness and fostering collaboration with industry partners.

    Xpeng Motors introduced its AI-powered P7+ sedan, which it described as the “world’s first AI car.”

    Currently, the automotive industry is benefiting from two major advantages: intelligence and electrification, He Xiaopeng, chairman and CEO of Xpeng, told Xinhua in an exclusive interview.

    He stressed that as a member of China’s emerging car manufacturing forces, the company will continue to invest in R&D and deliver innovative intelligent technology to the European market.

    BYD unveiled its mid-sized electric SUV, the Sealion 7, and introduced its luxury Yangwang U8 SUV to the French market. Executive Vice President Li Ke told Frankfurter Allgemeine Sonntagszeitung newspaper that the company plans to start vehicle production in Hungary by late 2025, further cementing its position as a major Chinese player in Europe’s EV market.

    MIL OSI China News

  • MIL-OSI: Unable to get its cosmetics plant project financed, Global Bioenergies is now focusing all its efforts on SAF opportunities

    Source: GlobeNewswire (MIL-OSI)

    PRESS RELEASE

    Unable to get its cosmetics plant project financed, Global Bioenergies is now focusing all its efforts on SAF opportunities

    Evry, 17 October 2024 – 07:30 a.m.: After several months of efforts, the Company has been unable to find investors for its 2,500-ton plant dedicated to the cosmetics market, in a highly unfavorable context for the financing of first-of-a-kind projects. The Company is now devoting all its energy to applying its technology to the production of Sustainable Aviation Fuel (“SAF”), with a model of industrial partnerships.

    Samuel Dubruque, Chief Financial Officer of Global Bioenergies, commented: “Despite all our efforts over the last few months, and with the conviction that we have presented the most mature case possible, we are now coming to the conclusion that our plant project will not reach final investment decision. Like all first-of-a-kinds, this project necessarily involves risks at various levels. The prospect of a significant return on investment linked to the cosmetics market should have been a sufficient counterbalance, allowing us to convince private investors to commit to the project, but we must realize that this is not the case in the current political, economic and financial context. Today, infrastructure investors limit themselves to less risky industrial replica projects1, and to projects more directly focused on energy markets.”

    Marc Delcourt, co-founder and Chief Executive Officer, added: “Global Bioenergies regrets that this project is not moving forward, and draws the necessary conclusions: the Company will therefore not be carrying out any plant projects of its own in the short or medium term, and will be focusing all its efforts on a partnership model. The intrinsic value of the process developed by Global Bioenergies is not diminished by the non-realization of this first industrial project designed to meet the needs of the niche cosmetics market. Our main ambition remains to produce much larger volumes of SAF, in order to reduce the carbon footprint of the aviation sector and fight global warming, now an absolute priority. To achieve this, the technology partnership approach is the most appropriate.”

    As a reminder, the Company’s process is one of only a dozen solutions to have obtained ASTM certification. The SAF market is currently in the start-up phase, and will really accelerate in 2030, when the European mandate increases to 6% (i.e. around 3 million tons/year) and production in the United States reaches the “Grand Challenge” target of 3 billion gallons per year (i.e. 9 million tons/year)2. The Company still aims to contribute to achieving these 2030 objectives on both sides of the Atlantic. Alongside this future large-scale SAF production, the Company intends to continue serving niche markets, in particular cosmetics.

    About GLOBAL BIOENERGIES

    As a committed player in the fight against global warming, Global Bioenergies has developed a unique process to produce SAF and e-SAF from renewable resources, thereby meeting the challenges of decarbonising air transport. Its technology is one of the very few solutions already certified by ASTM. Its products also meet the high standards of the cosmetics industry, and L’Oréal is its largest shareholder with a 13.5% stake. Global Bioenergies is listed on Euronext Growth in Paris (FR0011052257 – ALGBE).

    Contacts


    1 Réussir le passage à l’échelle des cleantech en France (website-files.com) – Cleantech for France (in French
    2 Sustainable Aviation Fuel Market Outlook – June 2024, SkyNRG

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    The MIL Network

  • MIL-OSI: Generative AI expected to accelerate entry-level career progress across industries

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Mollie Mellows
    Tel.: + 44 (0) 7342 709384
    E-mail: mollie.mellows@capgemini.com

    Generative AI expected to accelerate entry-level career progress across industries

    • Employees believe generative AI will facilitate a third (32%) of entry level tasks over the next 12 months.
    • 6 in 10 managers and most employees (71%) expect entry-level roles across functions to evolve from creation to reviewing generative AI outputs, over the next 3 years.
    • Over three-quarters (78%) of leaders and managers predict generative AI will augment their problem-solving and decision-making in the next three years, and over half think manager-level positions will evolve towards specialization.

    Paris, October 17, 2024 – The Capgemini Research Institute’s new report on generative AI (Gen AI) in management, ‘Gen AI at work: Shaping the future of organizations’, published today, suggests that Gen AI could have a positive impact on early-stage careers. In the longer-term, the report finds that Gen AI has the potential to create new job roles, transform organizational structures, drive human-AI fusion teams, and make managerial roles more specialist. However, adoption remains low and nascent. The report finds most employees lack the training they need to develop Gen AI skills.

    Whilst the impact of Gen AI on careers has been hotly debated, this new research finds the majority of business leaders believe that entry level roles could become more autonomous and evolve into frontline managerial roles within the next three years. With this in mind, the proportion of managers in teams across functions could expand from 44% to 53% in the next three years; only 18% of leaders and managers believe that Gen AI will reduce middle management.

    Employees think that, over the next 12 months, generative AI tools could lead to an average time saving of 18% for entry-level workers, implying there could be significant productivity improvements for junior employees. However, the cost of the Gen AI tool must also be taken into account, cites the report. Furthermore, 81% of leaders and managers expect new roles such as data curators, AI ethics specialists and algorithm trainers to emerge at the entry level.

    “Generative AI tools are becoming more adept at assisting with complex managerial tasks, which could challenge the status quo of organizational structure and ways of working,” said Roshan Gya, CEO of Capgemini Invent and member of the Group Executive Committee. “Generative AI has the potential to shift from a co-pilot to a co-thinker, capable of strategic collaboration, adding new perspectives and challenging assumptions. This shift could unlock significant value when tailored to specific business use cases but is dependent on several factors, including organizations prioritizing building the skills and readiness of employees, taking proactive steps around talent acquisition and development.”

    Potential to redefine management but still a significant gap on actual usage
    The report finds that Gen AI is transitioning the view of future leadership and managerial roles toward becoming more strategic, focusing on decision making and fostering innovation. In fact, many managers and leaders currently believe that Gen AI tools could act as co-thinkers for them. 65% of the leaders and managers surveyed see high potential in Gen AI for complex strategic tasks, and more than half of leaders believe managers will play a critical role as catalysts of Gen AI-driven change. The technology could also save leaders and managers up to seven hours each week, with nearly 8 in 10 leaders believing that Gen AI will positively impact their productivity in the next 12 months.

    Gen AI has the potential to amplify the strategic scope of leaderships roles. Currently, managers spend more than one-third of their time on administrative tasks. However, AI’s ability to automate much of this work provides opportunities to focus on strategic-planning and problem-solving tasks. In the next three years, over three-quarters (78%) of leaders and managers expect Gen AI to augment their problem-solving and decision-making, and over half believe manager-level positions will evolve towards specialization. 57% of leaders at organizations advanced in their Gen AI implementation already see their roles becoming more strategic.

    While adoption of Gen AI in management has good potential, there is a significant gap between potential and actual usage. Although 97% of leaders and managers say that they have experimented with Gen AI tools, only 15% use Gen AI tools at least once a day in their work.

    Organizational structures need to transform to enable cohesive human-AI collaboration
    For nearly half (46%) of teams, AI is used simply as a tool to enhance existing capabilities and workflows. However, human-machine partnerships are starting to be embraced. One in three teams are currently using AI as a ‘team member’, for example by enhancing human performance or using AI agents to complete predefined tasks without human intervention. According to the research, today AI is used as a supervisor in only 1% of teams i.e., it is directing, allocating, or prioritizing work for humans. Yet, in the next 12 months, 13% of teams expect to use AI in this role. In an AI-led environment, human judgment is increasingly important, and the majority of leaders, managers and employees in the research acknowledge this.

    Training and managerial guidance required to secure the future of Gen AI at work

    Despite the potential of Gen AI to boost productivity across job functions, adoption remains nascent. While almost two-thirds (64%) of workers already use Gen AI tools for their work, only 20% of employees use Gen AI tools daily.

    Employees also lack proficiency in key skills, with only 16% believing they are getting the support they need to develop Gen AI skills. Only 13% of employees say they are well-versed in machine conversational skills; only a third say they can manage Gen AI systemic risks; and less than half claim to have prompt engineering skills. The report suggests that team members should be equipped with the right AI skills, defining rules and responsibilities for cohesive human and Gen AI collaboration, ensuring accountability when Gen AI systems make mistakes, and adapting workflows and processes for the new era of Gen AI.

    Report Methodology
    Capgemini Research Institute conducted a global quantitative executive survey in May 2024 across 15 different countries and 11 key industries, surveying 1,500 respondents from 500 organizations, with annual revenue of more than $1 billion. Each unique organization is represented by three executives, one each at leadership level, middle-management level, and front-line management level (the three respondents can be from different functions or locations). The report is also based on an entry-level employee survey to take their perspective on Gen AI adoption by their managers and leaders. The survey targeted 1,000 entry-level employees from the same 500 organizations as in the executive survey. Hence, overall, each organization, irrespective of location or function, is represented by five respondents – three executive-level (leaders and managers) and two entry-level employees. In addition to these executive and entry-level employee surveys, the report also draws on 15 in-depth interviews with independent experts from various industries across the globe to validate and substantiate findings. Please note, the study findings reflect the views of the respondents and are aimed at providing directional guidance.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.
    Get The Future You Want | http://www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was recently ranked #1 in the world for the quality of its research by independent analysts.
    Visit us at https://www.capgemini.com/researchinstitute/

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  • MIL-OSI Russia: How competitions for the best themed design of stores and restaurants help develop business

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Voting continues in the Active Citizen project for the best seasonal designcatering, trade and service enterprises. Until November 1, Muscovites can choose the most beautiful store, restaurant or beauty salon.

    The prize fund, which is distributed among the first three places, helps restaurateurs and cafe owners develop their business and become better for residents and guests of the capital. The winners of previous years’ competitions for the best New Year and holiday window decoration used the money they won for repairs, purchasing new equipment, and even motivating their team.

    Thus, the restaurant located on Patriarch’s Ponds took second place in the competition for the best New Year’s decoration and received three million rubles. Anastasia Danilova, the restaurant’s general director, said that thanks to the victory, it was possible to put up summer tents, green the veranda and arrange a recreation area among the birches.

    The company continues to delight Muscovites and guests of the capital with new decor, paying more and more attention to the design. Seasonal decorations are harmoniously complemented by the landscape design of the space near the mansion, where the veranda is located. Thanks to this, guests see a bright change of seasons.

    According to Olesya Romanova, a representative of the restaurant — the winner of the City Day competition, all the costs of beautiful decoration pay off in the end, raising the spirits of not only the visitors, but also the team. The establishment won in the nomination “Best decoration of a public catering establishment”. The prize fund was five million rubles.

    The owners invested some of the money into renovations: they updated the walls, bought additional furniture and equipment for the confectionery shop. They managed to implement ideas that had been put off because there was not always the financial opportunity to implement them. In addition, the victory motivated the team and gave an additional incentive to continue decorating the cafe for the holidays.

    The next holiday is New Year. Elena Melnik, the owner of the restaurant, which took second place for the festive decoration for Victory Day, is already coming up with a design. The company’s managers spent three million rubles on inventory for the bar and kitchen, beautiful dishes, invited artists who updated the interior space – added design elements. In addition, the employees who decorated the establishment received bonuses.

    Project “Active Citizen” has been operating since 2014. During this time, over seven million people have joined it, taking part in more than 6.6 thousand votes. Every month, 30-40 decisions of Muscovites are implemented in the city. The project is being developed by the capital Department of Information Technologyand the State Institution “New Management Technologies”.

    The use of digital technologies and artificial intelligence to improve the quality of life of city residents corresponds to the objectives of the national program “Digital Economy of the Russian Federation” and the regional project of the capital “Digital Public Administration”. More information about this and other national projects implemented in Moscow, you can find out here.

    The Active Citizen project has begun voting for the best design of shops and cafes in the summer

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.mos.ru/nevs/item/145319073/

    MIL OSI Russia News

  • MIL-OSI Russia: Doctors at Moscow clinics have made over 17 million diagnoses using artificial intelligence

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    More than 17 million preliminary and final diagnoses have been made by general practitioners and physicians using artificial intelligence (AI) technologies, according to Anastasia Rakova, Deputy Mayor of Moscow for Social Development.

    “The service for making final diagnoses was trained on an unprecedentedly large volume of data – on records of 30 million patient visits over two years. When developing it, the expert opinion of Moscow doctors was also taken into account. Today, the service has been used in all adult Moscow clinics for a year, and we continue to regularly monitor its reliability and accuracy, including with the involvement of experts – our doctors. This is a standard practice for monitoring all artificial intelligence products operating in the city. Thus, based on the results of a year of work, additional training of the model was required for a number of diagnoses. Now doctors are using an updated service with a diagnosis accuracy of over 80 percent, for some diagnoses it already exceeds 90 percent,” said Anastasia Rakova.

    She also noted that the service helps to establish the most common diseases among Muscovites during an appointment, which most often require dispensary observation. In particular, these are diabetes mellitus, arterial hypertension, asthma, ulcers, rheumatoid arthritis and others.

    When the patient visits the doctor again, the diagnostic assistant analyzes all data from the electronic medical record for the last two years, including the date of the appointment, the results of laboratory and instrumental studies, discharge summaries and protocols of specialist examinations.

    “To date, therapists and general practitioners have made about three million final diagnoses using the service. Together with SberMedII and Sber’s AI lab, we also developed and implemented another service four years ago, which helped make more than 14.4 million preliminary diagnoses,” the deputy mayor added.

    The diagnostic assistant works as follows: the doctor determines the final diagnosis, the AI simultaneously analyzes the patient’s data and also forms a diagnosis. If it coincides with the doctor’s opinion, the service informs that it supports the specialist in his decision. If the diagnosis differs from the one made by the doctor, the system signals this and offers its own option.

    The city has been digitalizing its healthcare system for over 10 years. Its foundation is a single digital platform, which is being developed jointly by the Moscow Social Development Complex and the city Department of Information TechnologyIt allows for personalized care of each patient at all stages – from diagnosis and treatment to follow-up.

    Four more regions have joined the Moscow platform with medical AI servicesThe first neural network for detecting and assessing vertebral displacement has become available to Moscow doctors

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://vvv.mos.ru/nevs/item/145399073/

    MIL OSI Russia News

  • MIL-OSI Russia: Winner of the fourth Tender Hack hackathon in 2024 has been determined

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    In Yekaterinburg, at the fourth Tender Hack hackathon this year, organized by the Moscow City Department for Competition Policy, the winner was determined. This was reported by the head of the department Kirill Purtov.

    The developers faced a unique challenge for the competition series: they had to create a custom version of the mascot, a signature, recognizable character. for the supplier portal.

    “This time, we asked the participants to demonstrate not only technical skills, but also a creative approach and think about visualizing the AI assistant in the context of user interaction with the system. The character on the screen will accompany customers and suppliers during work on the portal and will become an important tool in implementing business processes, making them more understandable and accessible. After testing, the winning team’s practice is planned to be implemented on the site,” said Kirill Purtov.

    The hackathon participants were able to fully immerse themselves in the sphere of public procurement: they attended thematic master classes, consultations with experts from the supplier portal, and employees of the capital’s departments. on competition policy And information technology, as well as the electronic trading platform “RoselTorg”.

    As noted by the Moscow Department of Information Technology, the hackathon format allows both young and experienced specialists from all over the country to apply their knowledge and work on solving a pressing problem of one of the capital’s digital projects.

    The winner of the tournament was the Visuals team of students from the Sverdlovsk Art College named after I.D. Shadr. The second place was taken by the Inverse team from Yekaterinburg, and the third place was taken by the Echpochmak team from the Kazan National Research Technical University named after A.N. Tupolev. In total, more than 80 developers, designers and marketers from five regions of Russia took part in the competition, uniting into 19 teams.

    Earlier this year, three Tender Hack hackathons took place in Moscow, Vladivostok And Perm. The next event will be held in St. Petersburg on November 8–10. Participation in all competitions in the series is free.

    The capital’s supplier portal received the “Hackathons of Russia” award

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://vvv.mos.ru/nevs/item/145318073/

    MIL OSI Russia News

  • MIL-OSI Russia: To the participants of the annual meeting of the BRICS Business Council

    MILES AXLE Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    The annual meeting of the BRICS Business Council and the BRICS Business Forum will be held in Moscow on October 17-18.

    Dear friends!

    I am pleased to welcome the participants of the annual meeting of the BRICS Business Council.

    Since its establishment, the Business Council has become a popular and effective mechanism for strengthening economic cooperation among BRICS countries. It plays an important role in building a dialogue among the business community.

    In the context of ongoing geopolitical transformations, our association faces large-scale tasks. Given the growing sanctions pressure, the disregard of international law and WTO rules by a number of countries, as well as the restructuring of trade and logistics chains, it is necessary to strengthen the global economic system, ensure access to new markets, and create additional opportunities for business. All this is reflected in the priorities of the Russian presidency of BRICS.

    We consider it important to increase the volume of e-commerce and unlock the potential of artificial intelligence. It is important to develop digital entrepreneurship, improve the conditions for the active implementation of modern technologies by large companies, small and medium-sized enterprises. To solve this problem, it is necessary to ensure joint research and development, the adoption of common ethical standards, the exchange of experience and best regulatory practices. All this will help simplify business contacts and give impetus to the economic growth of our countries.

    We expect that the business community will make a significant contribution to the overall work in all areas of financial and economic cooperation and, in general, will contribute to increasing the role of BRICS in global governance mechanisms, promoting a more equitable system of international relations, and strengthening the association in its status as an organizing principle for the countries of the global South.

    I wish the meeting participants fruitful discussions and all the best!

    M. Mishustin

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://government.ru/gov/persons/151/telegrams/53018/

    MIL OSI Russia News

  • MIL-OSI: WOO Innovation Hub and Almanak Partner to Drive AI-Powered Optimization in DeFi

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Oct. 17, 2024 (GLOBE NEWSWIRE) — As part of the broader WOO Ecosystem, which includes the WOOFi protocol, a leading decentralized exchange, and WOO X, a global centralized exchange, the WOO Innovation Hub is excited to announce a new strategic partnership with Almanak, an agent-centric platform that allows users to develop, optimize, and deploy financial strategies using AI agents. This collaboration brings cutting-edge artificial intelligence (AI), machine learning (ML), and data science technologies to the forefront of decentralized finance (DeFi) development.

    Almanak is at the forefront of AI innovation in DeFi, providing AI agent-based tools that allow users to navigate the complexities of financial markets with unparalleled accuracy and speed. Their platform is designed to equip both institutional and retail users with intelligent agents capable of autonomously managing and growing portfolios while adapting to real-time market conditions. Whether optimizing yield, managing risk, or developing entirely new strategies, Almanak’s mission is to empower users with personalized financial superintelligences that transform how individuals and institutions interact with DeFi.

    Through this partnership, WOOFi is bringing the power of Almanak’s AI-driven technology directly to its community, providing developers, traders, and liquidity providers with access to tools that will help them excel in the competitive DeFi landscape.

    Abby Huang, WOO Innovation Hub Lead, said: “This partnership with Almanak underscores our commitment to integrating the most advanced AI and machine learning technologies available today. Together, we are providing the tools needed to ensure that our community stays ahead in the fast-evolving DeFi ecosystem.”

    Michael Herzyk, Almanak CEO stated: “We’re thrilled to partner with WOOFi and bring our AI agents into such a thriving DeFi ecosystem. Our agents are designed to optimize financial strategies, and with WOOFi’s extensive user base and liquidity pools, we believe this collaboration will unlock new opportunities for growth and innovation in decentralized finance.”

    Contact Us: ecosystem@woo.network

    About WOOFi
    WOOFi is a leading decentralized exchange (DEX) with over $42B in cumulative trading volume and more than 250k monthly active users. It supports 11 blockchains and offers a diverse range of products, including earn vaults, simple swaps, cross-chain swaps, and perpetual futures. The native token of WOOFi, WOO, can be staked to share 80% of all protocol fees.

    About Almanak: Almanak is an agent-centric platform that allows users to develop, optimize, and deploy financial strategies using AI-driven agents. Its platform equips users with the tools to create autonomous, self-improving agents that can manage and grow portfolios by adapting to changing market conditions in real-time. Built by experts from tech & finance, and backed by top VCs, Almanak leverages state-of-the-art machine learning models and reinforcement learning techniques to provide continuous optimization of financial strategies. Users that wish to learn more and get early exposure to Almanak – related opportunities, can already sign-up for an Almanak early access waitlist.

    Disclaimer

    The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind.

    Cryptocurrencies involve significant risk and are NOT suitable for the majority of investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities. We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.

    The collaboration between WOO and Almanak highlighted in the content above does not indicate in any way that WOO provides, or will provide financial service. WOO does NOT endorse, guarantee or provide advice for any products or services of its business partners. This cooperation shall in no event be interpreted as an assurance or guarantee for the listing of any tokens, whether presently existing or to be generated in the future, on WOO X or any associated exchange platforms, nor does it imply any commitment from WOO X to list any tokens on its platforms or others. The decision to list any tokens is governed by and subject to a series of separate criteria and procedures, independent of this cooperation or business partnership.

    Nothing in this article or any related content shall be construed to create or suggest the existence of a partnership, joint venture, agency relationship, or any form of legal association between WOO and Almanak. Each party is an independent entity, acting solely in its own capacity, and is responsible for its own actions, decisions, and associated risks. The collaboration mentioned does not imply any form of shared liability or financial obligation, and each party will bear its own risks and responsibilities. Furthermore, this article should not be interpreted as providing any guarantees regarding the outcome of any business ventures or collaborations mentioned, nor shall be an indication of guaranteed success or profitability for either WOOFi, WOO X or Almanak, or any of their business partners.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/02d9029a-02bc-4e0f-ad8c-287d7b4120ca

    The MIL Network

  • MIL-OSI: Lantronix Unveils SmartLV, the First AI-Enabled IoT Edge Compute Cellular Gateway, Powered by Qualcomm

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity IoT solutions, has launched SmartLV, powered by the Qualcomm® IQ-615 processor, the first AI-enabled IoT Edge Compute Cellular Gateway. This groundbreaking innovation, designed specifically for low-voltage substations and distribution automation applications in next-generation smart grids, utilities and industrial sectors, will debut at Enlit Europe, Oct. 22–24, 2024, in Milan, Italy.

    SmartLV is engineered to revolutionize real-time visibility, control and automation in the energy sector, providing Distribution System Operators (DSOs) with the ability to manage and steer energy precisely when and where it’s needed. Built with advanced cybersecurity protocols and AI capabilities, the SmartLV ensures robust, reliable and secure operations for mission-critical applications, offering unmatched control over low-voltage substations and Distributed Energy Resources (DERs).

    “The SmartLV Gateway is a leap forward in empowering utility operators with critical, real-time insights and control over their low-voltage substations,” said Mathi Gurusamy, Chief Strategy Officer at Lantronix. “By utilizing Qualcomm Technologies’ AI technology, this solution helps to address today’s most pressing challenges at the edge of the smart grid.”

    AI at the Edge: Transforming Energy Management

    With growing demand for smarter and greener energy grids, the SmartLV Gateway empowers DSOs to anticipate and respond to real-time grid conditions, optimizing energy flow and ensuring stability even during peak loads. This AI-driven platform doesn’t just monitor; it enables intelligent energy steering and dynamic decision-making at the edge.

    “SmartLV exemplifies the fusion of AI and connectivity in tackling critical challenges within smart grids. Qualcomm® and Lantronix are enabling DSOs to have enhanced control and insights into the distribution network, transforming how energy is delivered and consumed and accelerating the grid transformation in Europe,” added Sebastiano Di Filippo, Senior Director of Business Development at Qualcomm Europe Inc.

    SmartLV Gateway key features include:

    • Multi-protocol communication: Seamlessly integrates with existing infrastructure via Ethernet, Serial, I/O and Industrial Protocol conversion suites, offering flexibility across legacy and modern systems.
    • High-speed connectivity: Future-resilient with LTE and 5G-ready high-speed cellular communication for reliable, low-latency operations.
    • Edge computing for real-time decisions: AI-enabled edge computing that powers low-latency analysis, enabling split-second decision-making directly at the substation.
    • Advanced cybersecurity: Fortified with Lantronix’s InfiniShield™ security framework to defend against cyber threats, ensuring uninterrupted operations.
    • Simplified management with Lantronix’s Percepxion™ IoT Edge Platform: Offers seamless management with global cellular plans, VPN security and an easy-to-use cloud platform to monitor and control deployments.
    • Energy Steering Automation: Provides automated, real-time control of DERs based on actual grid conditions to ensure efficient energy flow.  

    Innovation Fueled by a Long-Standing Collaboration

    The SmartLV Gateway is the latest innovation in a 15-year relationship, combining Qualcomm Technologies’ industry-leading AI and connectivity with Lantronix’s expertise in IoT solutions for industrial and smart grid applications.

    Availability

    The SmartLV Gateway is scheduled to launch in CY 2025, with some trials beginning at the end of CY 2024 for selected DSOs. For more information or to schedule a demo, visit Hall 5, MR10.

    About Lantronix   

    Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing. 

    For more information, visit the Lantronix website

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to the SmartLV AI-Enabled IoT Edge Compute Cellular Gateway for Qualcomm developers. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024; as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances. 

    © 2024 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners. 

    Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries
    Qualcomm is a trademark or registered trademark of Qualcomm Incorporated 

    Lantronix Media Contact:         
    Gail Kathryn Miller 
    Corporate Marketing & 
    Communications Manager 
    media@lantronix.com 
    949-212-0960 

    Lantronix Analyst and Investor Contact:         
    investors@lantronix.com

    The MIL Network

  • MIL-OSI: Nasdaq Integrates AI to Simplify and Accelerate Bank and Insurance Risk Calculations

    Source: GlobeNewswire (MIL-OSI)

    Market volatility and regulatory requirements are driving increasingly complex and computationally intensive risk calculations

    XVA sensitivity analysis can require over 1 trillion calculations per day, requiring substantial physical infrastructure

    Nasdaq incorporates AI-based machine learning to process risk calculations up to 100 times faster

    NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) today announced it has developed an innovative new methodology to conduct investment portfolio risk calculations and produce predictive analytics, based on advanced machine learning capability. The functionality will be integrated into Nasdaq’s Calypso platform, which is used by banks, insurers, and other financial institutions globally to access capital markets, process front-to-back office treasury workflows, manage risk, and meet regulatory reporting obligations.

    XVA is a family of Value Adjustments made to derivative values to reflect the impact of risk, funding, capital, and other costs associated with trading OTC derivatives. A well-known example is a Credit Valuation Adjustment where changes are made to reflect counterparty credit risk inherent in bilateral transactions. This process has been critical to help banks manage risks since the Global Financial Crisis of 2007-8.

    Alongside the development of structured products, financial engineering has led to highly complex derivative pricing models, demanding more sophisticated internal risk modelling alongside greater regulatory oversight. Collectively, this has placed a substantial and costly computational requirement on the industry.

    Nasdaq’s machine learning technology is combined with a sophisticated form of mathematical modelling that can significantly improve the efficiency of conducting the most complex trading and regulatory risk calculations. It transforms the time taken to price financial instruments across millions of scenarios, processing the most complex products up to 100 times faster whilst maintaining high levels of accuracy. It can also significantly reduce the amount of physical infrastructure required to run those calculations.

    Gil Guillaumey, Senior Vice President and Head of Capital Markets Technology at Nasdaq, said: “All financial institutions trading OTC derivatives are required to perform increasingly complex calculations to meet internal risk controls and regulatory mandates. Maintaining the necessary infrastructure and systems can be outrageously expensive, inefficient, and increasingly impractical regardless of cloud elasticity strategies. The sheer scale of computing power required to meet the most demanding regulations, alongside the strategic benefits of more accurate real-time analytics, is driving a profound rethink about how we can leverage AI to reduce the cost of compliance.”

    Industry-wide rise in risk analytics

    The ability to accurately model risk across asset classes is essential for optimal trading decisions, accurate accounting of risk profiles, and calculating capital requirements. Risk functions within financial institutions are therefore consistently enhancing their own internal framework, while regulators also recognize the benefits of increasing the volume and frequency of risk calculations such as XVA and Value-at-Risk.

    For example, The Standardized Approach for XVA under Basel III Endgame introduces a more complex and granular series of calculations across firms’ trading portfolios. The regulation is aligned to best practice risk management controls, with some banks already performing intraday calculations; however, others do not have the system capability and have to accept the costs charged by their counterparty.

    Today, a typical Credit Value Adjustment computation involves millions of Monte Carlo simulations over a series of points in time to produce up to 10 billion revaluations. Firms are also increasingly required to run sensitivity analysis on those calculations for risk management purposes, which can result in up to 1 trillion calculations per day for a typical portfolio, requiring a huge amount of computational power and physical infrastructure.

    Nasdaq’s XVA Accelerator

    Called the XVA Accelerator, Nasdaq’s innovative technology uses a mathematical approach known as Chebyshev Tensors, drawing on a patented technique and modelling expertise from MoCaX Intelligence. It incorporates a breakthrough mathematical theorem by Sergei Bernstein that allows users to identify groups of scenarios that are highly likely to converge at an exponential speed toward the target result. This will allow very accurate approximations for an extensive range of scenarios, whilst requiring substantially fewer calculations than the original method.

    The Chebyshev Tensors in the XVA Accelerator are calibrated in a dynamic manner each time an XVA calculation is launched. As a result, it adapts immediately to changing market conditions, which can prove particularly valuable in moments of market disruption.

    With this technology, the Nasdaq Calypso risk analytics suite can rapidly adjust during periods of heightened volatility, or fluctuating interest rates, by identifying a smaller number of ‘smart’ scenarios to provide more timely risk analytics. The model can transparently detail how it has arrived at each assumption and lower the energy requirements, or carbon footprint, associated with conducting computationally intensive calculations.

    Ultimately, this approach can significantly improve execution times, reduce costs, and empower financial institutions to more effectively manage risk.

    As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise and cloud managed service services to help 3,500+ banks, brokers, regulators, financial infrastructure operators, and buy-side firms solve their toughest operational challenges while advancing industrywide modernization.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at http://www.nasdaq.com.

    Media Contact:

    Andrew Hughes
    +44 (0)7443 100896
    Andrew.Hughes@nasdaq.com

    Camille Stafford
    +1 (234) 934 9513
    Camille.Stafford@nasdaq.com

    Cautionary Note Regarding Forward-Looking Statements:

    Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “can”, “will”, and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of AI within Nasdaq’s Calypso solution. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at http://www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

    NDAQG 

    The MIL Network

  • MIL-OSI Video: Skills in the Age of AI

    Source: World Economic Forum (video statements)

    By 2027, businesses predict that almost half (44%) of workers’ core skills will be disrupted. From AI tutors to lifelong learning schemes, what approaches and opportunities hold the greatest potential to close gaps and prepare people for tomorrow’s economy?

    This session has been developed in collaboration with CNBC.

    https://www.youtube.com/watch?v=NTJK5e9ADcw

    MIL OSI Video

  • MIL-OSI Africa: Cross-examining cybercrime: GITEX GLOBAL 2024 sheds light on the innovation-igniting conundrum challenging industries worldwide

    Source: Africa Press Organisation – English (2) – Report:

    DUBAI, United Arab Emirates, October 17, 2024/APO Group/ —

    • “Cybersecurity Day” marks GITEX GLOBAL’s halfway stage as enlightening agenda reveals the challenges, threats and opportunities for international tech community
    • “AI is changing the game” – H.E. Dr. Mohamed Al Kuwaiti, Head of Cybersecurity for the UAE Government

    After an action-packed two days where GITEX GLOBAL 2024 (www.GITEX.com) presented exhilarating events and exhibitions across technology’s new frontiers, Wednesday witnessed another incredible programme as audiences examined the existing and future cybersecurity landscapes with the world’s foremost experts. 

    Taking place from 14-18 October at Dubai World Trade Centre (DWTC), GITEX GLOBAL is the world’s largest and best-rated tech event. It presents a record-breaking 44th edition in 2024 – welcoming over 6,500 exhibitors, 1,800 startups, 1,200 investors alongside governments from more than 180 countries.

    As GITEX GLOBAL’s biggest-ever international edition reached the halfway stage, “Cybersecurity Day” headlined the Wednesday schedule. An enlightening series of keynote speeches, fireside chats, and specialist panels cast a unique spotlight on the urgent challenges, emerging threats, and innovative opportunities facing individuals, enterprises, industries, and nations worldwide.

    Cross-examining the cybercrime conundrum

    With global cybercrime damaged projected to reach $10.5 trillion annually by 2025, the international tech community is determined to ignite a paradigm shift through reinvigorated determination. This universal attitude was on full display at GITEX GLOBAL as top CISOs, CIOs, and GRC leaders converged with a unified mission: establish the foremost line of defence globally.

    In 2024, finance industry AI-driven fraud has surged by 40%, posing unprecedented challenges for incumbents. One of Wednesday’s must-attend conference sessions – ‘AI-Driven Digital Fraud: Safeguarding the Finance Industry’s Future’ – examined how emerging technologies are being harnessed to overcome the evolving threat.  

    H.E. Dr. Mohamed Al Kuwaiti, Head of Cybersecurity for the UAE Government, revealed that the country has dispelled millions of threats this year alone while endorsing AI as a “gamechanger” in leading the industry’s cyber resurgence. He said to GITEX Tech Waves Podcast (https://apo-opa.co/3Y8w33V): “Cyber awareness is crucial – and AI is changing the game. The UAE is a financial hub that faced 71 million attacks in Q1 2024. We are resilient and thwarted these with early threat detection through AI. It’s a hugely beneficial technology alongside our great partnerships with the world.”

    Todd Conklin also weighed in on the positive impact of AI. While acknowledging the potential repercussions of AI’s power when utilised by malicious actors, the Chief AI Officer & Deputy Assistant Secretary, Cybersecurity & Critical Infrastructure Protection at the US Department of the Treasury, added: “The US Treasury runs the largest payments ecosystem in the entire world. We’ve leveraged AI models to reduce fraud by almost $600 million in the last six months. It’s becoming increasingly critical in the counter-fraud space.”

    Unveiling a new world of limitless possibilities and potential

    In a week where 88% of exhibiting startups are GITEX GLOBAL debutants and no fewer than 230 new partnerships have been finalised between local, regional, and international entities and enterprises, the event is again fulfilling its pledge as a global cooperation and collaboration catalyst. Heading into Wednesday, over 13,000 pre-arranged concierge meetings had already taken place across GITEX GLOBAL and Expand North Star – the world’s largest startup and investment event – with many more a certainty as companies exhibit transformative solutions that could change the world.

    Huawei shed light on its critical infrastructure and cloud tech solutions with Dr. Aloysius Cheang, Chief Security Officer for the Middle East & Central Asia at Huawei, revealing the staggering rate of cyber attacks worldwide. While calling on enterprises to ensure stringent security postures, he said: “Huawei is attacked 12 billion times a day on average. This is why cybersecurity is positioned as a very strategic asset within our company. Organisations must build a cybersecurity culture through a security-first, privacy-first approach – and their solutions must serve their purpose of protecting digital assets.”

    Cybersecurity and anti-virus provider Kaspersky also showcased its pioneering Cyber Immunity approach and advanced threat intelligence solutions on Wednesday as US cyber firm Fortinet highlighted products and services part of its cybersecurity platform portfolio. solutions by stc also introduced visitors to the emerging technologies utilised to deliver new value to customers.

    Elsewhere on day three at GITEX Global 2024, a host of activations, showcases, and conferences took place at GITEX Cyber Valley (https://apo-opa.co/4eDbPq1), this year’s most anticipated cybersecurity exhibition and programme hosted by the UAE Cyber Security Council. An unmissable session saw audiences hear from Brett Johnson – once America’s Most Wanted, now a leading global cybercrime and identity theft expert. During ‘Scamming the scammer: Inside the Mind of a Cybercriminal’, he revealed the extent of the virtual underworld while sharing his life story.

    Live Hacks also headlined the GITEX Cyber Valley’s Dark Stage as ethical hackers showcased live demonstrations on AI-powered hacks. Visitors also got exclusive insights from Santiago Lopez, the world’s first million-dollar hacker, on how to turn hacking skills into a lucrative career during another special session – ‘Face to Face with 1# Million Dollar Hacker: Who wants to be a hacking millionaire?’.

    What next at GITEX GLOBAL 2024?

    GITEX GLOBAL 2024 continues Thursday as “Data Centres Universe” welcomes an ensemble cast of thought leaders and experts to discuss the future of data management and infrastructure. Sessions throughout the day’s schedule will explore the latest data technology and sustainable energy solutions alongside data centres’ pivotal role in supporting the exponential growth of digital services.

    Future Mobility (https://apo-opa.co/3Yctvlv) will explore the shifting paradigms of the global auto tech industry with the World Future Economy Digital Leaders Summit (https://apo-opa.co/3YcBoai) and Global DevSlam (https://GlobalDevSlam.com) among the many day four highlights.

    More information on GITEX GLOBAL, please visit http://www.GITEX.com

    MIL OSI Africa

  • MIL-OSI Europe: Opening address by President Viola Amherd at the Ukraine Mine Action Conference UMAC2024

    Source: Switzerland – Department of Defence, Civil Protection and Sport

    Bern, 17.10.2024 – Opening address by President Viola Amherd, head of the Federal Department of Defence, Civil Protection and Sport (DDPS), at the Ukraine Mine Action Conference UMAC2024, Lausanne, Thursday, 17 October 2024.

    Check against delivery

    Prime Minister,
    Excellencies,
    Ladies and Gentlemen,

    It is an honour to welcome you, Mr Prime Minister, to Lausanne today, and to open this conference with you.

    The next two days will be dedicated to one of the most pressing humanitarian issues of our time: humanitarian demining.

    Mines, cluster munitions and explosive remnants of war have a devastating impact: they claim thousands of lives every year, make land impassable, resources inaccessible and hamper economic development.

    Every improvised explosive device that we defuse is a step towards security, progress and a better life – this is the conviction that lies at the heart of our efforts.

    Today, humanitarian mine action is faced with major challenges.

    The Ottawa Convention bans anti-personnel mines, because they kill and maim indiscriminately. While the initial success of the Convention inspired optimism, in recent years this has given way to a certain disillusionment.

    Since 2014, the number of victims has started to rise again. Ongoing armed conflicts, such as Russia’s military aggression in Ukraine, bring new contamination from mines and other weapons. The effects of urban warfare and the use of improvised explosive devices are particularly severe.

    These developments reflect the global situation, which is marked by growing geopolitical tensions.

    This makes it all the more important, especially in view of the rising number of victims, to continue our efforts to improve the protection of the civilian population from the dangers of mines and other remnants of war.

    Humanitarian demining is not only a matter of safety, but also a precondition for recovery, in particular for the resumption of agricultural production and the education of children.

    I call on all states to join the Ottawa Convention and the Convention on Cluster Munitions, and to support them to the best of their abilities.

    Excellencies,
    Ladies and Gentlemen,

    Four months ago, the international community met on the Bürgenstock for the Summit on Peace in Ukraine. At the opening, I spoke of our goal to set in motion a process that will lead to a just and lasting peace in Ukraine.

    The current conference follows on from this, because living in peace also means being free from the fear of mines and remnants of war.
    Switzerland has been committed to humanitarian demining for over 30 years. We support projects in affected countries and deploy specialist military personnel.

    We are also committed to the diplomatic, legal and practical implementation of the relevant conventions around the world.

    We are determined to continue to do our part in Ukraine as well.

    Almost a quarter of Ukraine’s territory is contaminated with explosive ordnance.
    Last year we decided to make one hundred million francs available for humanitarian mine action in Ukraine (from 2024 to 2027).

    The Geneva International Centre for Humanitarian Demining (GICHD) and the Fondation suisse de déminage (FSD) are primarily responsible for implementing this programme.

    Projects will be developed in close cooperation with Ukraine’s civilian authorities. They will include mine and explosive ordnance clearance, the promotion of standards and quality in mine clearance, training, and operational and material support.

    Last year, provided the State Emergency Service of Ukraine (SESU) with a remote-controlled demining machine from the Digger Foundation.

    This year, we will deliver three more machines from Global Clearance Solutions and provide local training and support.

    This will enable Ukraine to carry out effective and safe demining operations independently in the future.

    Excellencies,
    Ladies and gentlemen,

    For today’s Ukraine Mine Action Conference here in Lausanne, we have set ourselves the following goals:

    –    We aim to raise awareness of the importance of humanitarian mine action in Ukraine and worldwide.
    –    Stimulate further support going forward, based on the Ukrainian Mine Action Strategy, which provides guidance for current and future partnerships.
    –    And showcase innovative solutions that will make mine clearance safer and more effective worldwide.

    Three thematic areas were defined in the run-up to the Ukraine Mine Action Conference: people, partners and progress.

    First, the people: In the face of the immense suffering and lasting damage caused by mines, cluster munitions and explosive remnants of war, we must act decisively.

    Contamination in conflict areas also affects many countries not involved in the conflict. For example, food prices are rising in many countries because Ukrainian land cannot be used safely and productively.

    Then, the partners: Our aim is for other countries that are also affected by mines or that are providing aid to share their experiences with Ukraine and its partners.

    For mine action to be effective, governments, international organisations, NGOs, the private sector and the scientific community must work closely together – and they are all gathered here in Lausanne today.

    And finally, progress: We must work continuously to make humanitarian mine action safer and more effective.

    We need to find innovative solutions, for example by combining the use of artificial intelligence, powerful drones and robots.

    The resources we use to clear mines in Ukraine today are also an investment to improve humanitarian demining globally in the future.

    Excellences,
    Ladies and gentlemen,

    Humanitarian demining is part of Switzerland’s humanitarian tradition. We want to help alleviate suffering and enable sustainable development.

    That is also the aim of this conference, which we have organised together with Ukraine.

    In closing, I would like to express my sincere thanks to all of you for your dedication and commitment.

    Your presence here underscores the crucial support that is so urgently needed and that the people living in mine-affected countries deserve.

    Thank you very much.


    Address for enquiries

    DDPS Communication
    Federal Palace East
    CH-3003 Bern


    Publisher

    Federal Department of Defence, Civil Protection and Sports
    http://www.vbs.admin.ch

    MIL OSI Europe News

  • MIL-OSI Russia: Smartphones have not become a digital learning tool for Russian schoolchildren

    MILES AXLE Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Despite the widespread use of smartphones, they have not been used enough by teachers in the teaching process of schoolchildren, including for developing their digital skills. Irina Dvoretskaya, a researcher from Institute of Education, National Research University Higher School of Economics,studiedpatterns of use of mobile devices by students in grades 9–11 for learning.

    On September 1, 2024, a law came into force that prohibits schoolchildren from using mobile phones during school hours, even for educational purposes. According to media reports, in 2023, more than 80% of parents supported the proposal to ban smartphones during school lessons. Irina Dvoretskaya, a research fellow at the HSE Institute of Education, analyzed how Russian high school students had used smartphones up to this point and whether teachers were involved in students’ work with digital tools.

    The study involved an online survey in urban and rural Russian schools among students in grades 9–11 (more than 20,000 boys and girls) who had smartphones. The study showed that most high school students did not use smartphones for their studies. Almost 60% of respondents either did not use gadgets at all or used them to work with applications such as an electronic diary. At the same time, teachers did not use teaching practices that promote the development of digital competencies in the classroom. Most often, a smartphone was used as a calculator or as a tool for searching for information. According to the study, only 7.34% of high school students are advanced users of gadgets.

    Irina Dvoretskaya notes that in the existing frontal model of educational work, a smartphone really distracts a student from his studies. However, it would be wrong to completely exclude gadgets from the educational process, given their widespread use and the increasing digitalization of all spheres of life. Otherwise, there is a risk that personal mobile devices will remain a means of entertainment and communication for a child, but not education.

    “Every year, more and more new user technologies appear (for example, chatbots with AI), and banning smartphones in the educational process will not help a child learn to use them responsibly and productively,” notes Irina Dvoretskaya.

    The fruitful use of a mobile device for active learning in project-based or research-based learning allows schoolchildren not only to successfully master subject content, but also to develop meta-subject skills, that is, what students should be able to do in addition to knowledge of school subjects: to realize their educational interests and needs, to solve various life problems.

    The conducted research can help the management of Russian schools to assess the possibilities of integrating personal digital infrastructure into educational organizations. The obtained data can also be used to monitor the progress and academic performance of various groups of students, develop flexible learning paths and individual educational materials in the context of the development of artificial intelligence.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.hse.ru/nevs/scene/975592028.html

    MIL OSI Russia News

  • MIL-OSI Global: The UK’s new industrial strategy is welcome, but here’s what is missing

    Source: The Conversation – UK – By Phil Tomlinson, Professor of Industrial Strategy, Co-Director Centre for Governance, Regulation and Industrial Strategy (CGR&IS), University of Bath

    Panya7/Shutterstock

    The UK government’s plan to create a new industrial strategy is a welcome attempt to steer Britain’s economy through the challenges of the 21st century. Amid a backdrop of global economic uncertainty, a clear focus on achieving growth is essential.

    The plan is at an early stage. The new green paper marks the beginning of a consultation process designed to shape future government policy.

    But creating an industrial strategy in the first place – to coordinate a wide range of economic policies – is commendable. For too long, the UK has been lagging behind other countries which have embraced greater government intervention in their economies.

    And the idea of having that strategy overseen by an “industrial strategy council”, to offer a degree of independent oversight, is a good one. If set up properly, this council should encapsulate the idea of industrial strategy as a partnership between the state and business – a collaborative effort to discover new opportunities and develop new policies.

    It is also pleasing to see the green paper hasn’t shied away from some of the big issues. There is appropriate emphasis on geography, and creating opportunities in “left behind places”. For too long, economic growth in Britain has been disproportionately concentrated in London and the south-east.

    Empowering local leaders in other regions to shape industrial policies, tailored to their specific needs, is a step in the right direction.

    The emphasis on addressing the UK’s clapped-out infrastructure is also wise. Pledges to invest in broadband, electricity supply, rail and roads should lay the groundwork for a more interconnected economy. There is evidence that improved connectivity could attract new investment and boost regional productivity in areas that have been economically stagnant for decades.

    There are also promises to increase public investment in research and development
    in emerging industries such as AI and clean energy. The vision for a modern, hi-tech economy driven by innovation is much needed in a county which currently ranks 25th in the global robotics league table, the only G7 nation outside the top 20.

    But there are also risks to such a technology-centred approach, which could easily be at odds with the goal of tackling regional inequality. Indeed, given new investment tends to flow to existing hi-tech regions, the divide between successful and left-behind places could widen.

    The plan’s green focus is also timely. By prioritising clean energy and investment in sectors such as electric vehicles, the strategy aligns with goals for achieving net zero emissions by 2050.

    Mission impossible?

    However, other issues also need to be included in the government’s plans. There is no consideration of geopolitics in the green paper. Yet any effective UK industrial strategy has to account for the impact of China and the US, and their ongoing tensions.

    Similarly – and strangely – Brexit is hardly mentioned. Despite post-Brexit disruption to trade with the EU continuing to act as a drag on investment and growth, the green paper merely skirts around the issue. Nor is there anything about how industries deeply reliant on EU supply chains and markets (such as car manufacturing) can thrive outside the European single market.

    Southampton docks.
    Ssisabal/Shutterstock

    Workers in traditional manufacturing, and in sectors such as retail, hospitality and care, will also need to hear more about support and retraining. The government needs to be mindful of not increasing a sense of polarisation between those who benefit from a green hi-tech revolution, and those who don’t.

    And there will need to be much more detail about funding. The Labour government is keen to attract investors – the green paper was published on the same day as a high-profile investment summit in London, which featured impressive international attendees enjoying fine food and high-calibre entertainment.

    But heavy reliance on private sector investment raises questions about accountability. For, while public-private partnerships can be effective, there is always a risk that private sector interests may not align with the needs of everyone else.

    Overall, the green paper is the starting point for a critical national conversation about the UK’s economic future. The road to tangible success will depend on translating ideas into concrete actions, dealing with inevitable trade-offs, and being brave enough to address some deep structural issues. If it does, the green paper could turn into a blueprint for a genuinely resilient and competitive country.

    Phil Tomlinson receives funding from the Engineering and Physical Sciences Research Council (EPSRC) for Made Smarter Innovation: Centre for People-Led Digitalisation.

    David Bailey receives funding from the Economic and Social Research Council’s UK in a Changing Europe Programme.

    Michael A. Lewis currently receives funding from the Economic and Social Research Council (ESRC) and the Arts and Humanities Research Council (AHRC).

    ref. The UK’s new industrial strategy is welcome, but here’s what is missing – https://theconversation.com/the-uks-new-industrial-strategy-is-welcome-but-heres-what-is-missing-241410

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: Passengers to enjoy cleaner travel between UK and Europe  

    Source: United Kingdom – Executive Government & Departments

    New green corridors could boost use of sustainable fuels, secure green jobs of the future and advance environmentally friendly travel within Europe.

    • world’s first ‘green shipping corridors’ to be created between the UK and Europe, accessing prime destinations like Amsterdam, Oslo, Copenhagen and Dublin  
    • up to £9 million investment to decarbonise shipping and turbocharge green jobs of the future  
    • 30 projects across the country will also receive a share of funding to make smarter, cleaner shipping a reality 

    Passengers could reap the rewards of greener travel by sea thanks to the development of new shipping routes only accessible to zero emission vessels. 

    Maritime Minister Mike Kane today (17 October 2024) announced the new projects which will receive funds to develop these future routes, including the Port of Tyne to the Port of Ijmuiden (Netherlands) and the Port of Holyhead to the Port of Dublin.   

    The Department for Transport (DfT) is also funding the development of green shipping routes from the UK to Norway and Demark – the organisations that will lead these are soon to be announced.   

    Green corridors are zero emission maritime routes between 2 or more ports. The UK led the development of green corridors through the launch of the Clydebank Declaration at COP26.

    Once developed, should the world’s biggest shipping companies operate along these greener routes, it could transform the ‘fast shopping’ industry, making the global shipment of goods more environmentally friendly.

    Maritime Minister, Mike Kane, said:   

    Shipping is a big contributor to global greenhouse gas emissions, so these new green corridors could be a real game changer for industry.   

    This is exactly the direction we need to be going in to achieve our mission of becoming a clean energy superpower.   

    These new corridors could turbocharge the use of sustainable fuels, secure the green jobs of the future and advance environmentally friendly travel to major European capitals like Amsterdam and Dublin.

    The funding comes from the  fifth round of the government’s Clean Maritime Demonstration Competition (CMDC5), which focuses on driving innovative solutions and new technologies to decarbonise the industry and grow the economy.    

    Matt Beeton, CEO of the Port of Tyne, said:

    Today’s funding announcement will support the development of port infrastructure for electrification and the refuelling of state-of-the-art clean powered vessels. This important green infrastructure will ensure that the Port of Tyne and the Port of Ijmuiden are supporting decarbonised routes between the North East of England and Europe with the aim of saving up to 850,000 tonnes of CO2 annually.

    Bolstered by the Maritime Innovation Hub, the Port of Tyne continues to drive sustainable innovation and act as a focal point for a growing European decarbonised distribution network for green trade and passenger journeys.

    The River Tyne fuelled the industrial revolution and now it’s at the forefront of greening international logistics.

    Visiting the Port of Tyne, the Maritime Minister also announced separate funding to help make sea travel cleaner and smarter.   

    Up to £8 million of match funding will be given to 30 projects across the UK to accelerate plans to develop smart technologies, such as autonomous systems, AI, robotics and sensors.   

    These technologies will help position the UK as a world leader in maritime decarbonisation and will support economic growth and coastal communities by delivering local jobs and boosting local businesses.  

    Mike Biddle, Executive Director for Net Zero at Innovate UK, said:

    Like so many industries, the maritime sector is under immense pressure to decarbonise its transport and process methods. Innovate UK is proud to be a key delivery partner for DfT’s UK SHORE programme, which provides a unique platform for innovators and collaborators to demonstrate real-world solutions to some of the sector’s most pressing challenges.

    With this year’s round of competitions delivering a host of exciting prospective technologies, from smart shipping drones to methanol-fuelled vessels, UK SHORE looks to accelerate the adoption of these sustainable solutions and help the UK drive towards its net zero targets.

    This latest round of funding comes from the £206 million UK SHORE programme which is focused on decarbonising the UK maritime sector through tech innovation.

    Maritime media enquiries

    Media enquiries 0300 7777 878

    Switchboard 0300 330 3000

    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom

  • MIL-OSI: Infinera Signs Non-Binding Preliminary Memorandum of Terms to Receive Up to $93 Million in CHIPS Act Funding

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) — Infinera (Nasdaq: INFN) and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms for Infinera to receive up to $93 million in direct funding as part of the bipartisan CHIPS and Science Act. This proposed direct funding, when combined with investment tax credits available under the CHIPS and Science Act, could result in more than $200 million in total federal incentives as well as potential state and local incentives.

    This proposed funding would support the expansion and modernization of both Infinera’s semiconductor capabilities in Silicon Valley, California and its advanced test and packaging capabilities in Lehigh Valley, Pennsylvania, increasing the company’s existing domestic manufacturing capacity by an estimated factor of ten. Combined proposed funding for these two projects could create up to 1,700 manufacturing and construction jobs while strengthening America’s supply chain, economic and national security.

    “We are grateful for the bipartisan efforts under the CHIPS and Science Act to increase semiconductor fabrication and packaging in the U.S. and protect our national and economic security,” said David Heard, Infinera CEO. “The proposed CHIPS funding will enable us to better secure our supply chain and compete more effectively with foreign adversary nations. Our unique photonic semiconductors address the increased demand for bandwidth from consumers while opening new markets inside the data center driven by the explosive growth in AI workloads.”

    Infinera’s award of the proposed CHIPS funding would not have been possible without bipartisan support and partnerships with local, state and federal officials. This support is instrumental to the long-term success of these projects and the growth of advanced manufacturing in the U.S.

    Additional Resource:
    Biden-Harris Administration Announces Preliminary Terms with Infinera to Support Development of Semiconductor Technology Important for Communications and National Security

    Contacts:

    Infinera Media:
    Anna Vue
    Tel. +1 (916) 595-8157
    avue@infinera.com

    Infinera Investors:
    Amitabh Passi, Head of Investor Relations
    Tel. +1 (669) 295-1489
    apassi@infinera.com

    About Infinera
    Infinera is a global supplier of innovative open optical networking solutions and advanced optical semiconductors that enable carriers, cloud operators, governments, and enterprises to scale network bandwidth, accelerate service innovation, and automate network operations. Infinera solutions deliver industry-leading economics and performance in long-haul, submarine, data center interconnect, and metro transport applications. To learn more about Infinera, visit http://www.infinera.com, follow us on X and LinkedIn, and subscribe for updates.

    Infinera and the Infinera logo are registered trademarks of Infinera Corporation.

    This press release contains forward-looking statements, including but not limited to statements regarding Infinera’s ability to secure CHIPS funding and investment tax credits, and the anticipated benefits of any such funding and tax credits. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about risks and uncertainties that affect Infinera’s business is contained in the risk factors section and other sections of Infinera’s Quarterly Report on Form 10-Q for the Fiscal Quarter ended June 29, 2024 as filed with the SEC on August 2, 2024, as well as any subsequent reports filed with or furnished to the SEC. These reports are available on Infinera’s website at http://www.infinera.com and the SEC’s website at http://www.sec.gov. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies and can be identified by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.

    The MIL Network

  • MIL-OSI: Aurora Mobile Showcases GPTBots and EngageLab at eCommerce Expo Asia, Highlighting AI-Powered Solutions for Global Enterprises

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Oct. 17, 2024 (GLOBE NEWSWIRE) — Aurora Mobile Limited (Nasdaq: JG), recently showcased its no-code AI Bot development platform, GPTBots, and its global customer engagement platform, EngageLab, at eCommerce Expo Asia, part of Tech Week Singapore on October 9-10, 2024, held at the Marina Bay Sands Expo & Convention Centre. The event brought together industry giants such as Shopify, Amazon, Stripe, and TikTok, focusing on the latest trends in e-commerce, AI, and MarTech, with Aurora Mobile’s innovative solutions drawing significant attention from attendees.

    As a comprehensive trade show, eCommerce Expo Asia provided a platform for in-depth discussions on the application of cutting-edge technologies such as artificial intelligence (AI) and marketing technology (MarTech) across various industries. GPTBots, Aurora’s no-code AI Bot platform, stood out at the event, engaging a diverse audience keen to explore practical AI applications in their businesses.

    During the exhibition, attendees from different industries expressed unprecedented enthusiasm for AI technology, sharing their specific needs and pain points faced during their digital transformation journeys. GPTBots demonstrated its powerful capabilities in natural language processing, contextual understanding, and extensive customization, positioning itself as a valuable tool to solve these challenges.

    Interest from Various Industries

    • Financial Services in Indonesia: Representatives from the Indonesian financial sector expressed keen interest in GPTBots’ ability to enhance customer support through intelligent automation. They believe that GPTBots can address the rigidity of existing bot systems by providing more efficient and secure financial services through accurate responses and on-premise deployment options.
    • Hospitality in Hong Kong: Clients operating a platform in Hong Kong that connects users with wedding venues and service providers were particularly impressed with GPTBots. They highlighted its potential to significantly enhance the accuracy, efficiency, and timeliness of resource matching. GPTBots can seamlessly connect users, suppliers, and hotels in real time, ensuring precise and efficient resource coordination. This not only improves the overall user experience but also optimizes supplier response times, driving greater operational efficiency.
    • System Integrators (SI): SI clients showed strong interest in using AI Bots to automatically organize customer inquiries into leads and seamlessly push them into CRM systems. GPTBots can process and categorize customer inputs in real time, offering seamless integration with CRM platforms, enabling comprehensive lead automation management.

    Additionally, representatives from industries such as manufacturing, medical e-commerce, and event organizers praised GPTBots’ potential in areas such as automated product quality inspection, intelligent lead screening, platform integration, and inquiry management. Many attendees commented that GPTBots could bring transformative changes to their respective businesses.

    Global Adoption and Empowering Enterprises
    Since its launch in September 2023, GPTBots has gained widespread recognition. As of July 31, 2024, the platform had over 60,000 registered users, including enterprises and developers, with more than 85% of its user base coming from overseas markets. GPTBots’ users span a wide range of sectors including e-commerce, real estate, finance, IT, healthcare, government, renewable energy, education, and eldercare. This achievement demonstrates the platform’s strong ability to help businesses achieve intelligent transformation.

    About Aurora Mobile Limited
    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.
    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement
    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    The MIL Network

  • MIL-OSI Europe: The European Supervisory Authorities share highlights from the 2024 Joint Consumer Protection Day in Budapest

    Source: European Banking Authority

    On 3 October , the three European Supervisory Authorities (ESAs) – the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) – organised the 11th edition of their annual Consumer Protection Day, in Budapest.

    The event followed the theme of “Empowering EU consumers: fair access to the future of financial services” and had three panels covering the topics of artificial intelligence (AI) in financial services, access to consumer centric products and services, and sustainable finance. Speakers and panellists included leaders from consumer organisations, regulatory authorities, EU institutions, academia, and market participants from across the European Union, with 300 participants on-site and more than 600 viewers online.

    Speeches were delivered by the three ESAs Chairs – Verena Ross (ESMA and currently Joint Committee Chair), Jose-Manuel Campa (EBA), and Petra Hielkema (EIOPA) – as well as Csaba Kandrács, Deputy Governor of the Central Bank of Hungary and Agustín Reyna, the Director General of the European Consumer Organisation (BEUC). A fire-side chat also took place with Chris Betz, Chief Information Security Officer of Amazon Web services to discuss generative AI.

    On Artificial Intelligence, panellists exchanged views about the potential benefits of AI, such as fraud detection and the automation of processes to detect and prevent money laundering, as well as the risks, such as the lack of transparency and explainability. Panellists emphasised the need to better understand the technology to assess how those risks can be mitigated. Some panellists highlighted the importance for the ESAs to facilitate knowledge sharing, ensure regulatory and supervisory convergence and create the conditions for innovation to grow. Some industry players also called on the ESAs to issue ‘guardrails’ or other guidance on how financial institutions should comply with the new EU AI Act.

    During the panel on access to consumer centric financial products and services, panellists discussed the need to strengthen  financial education, pay greater attention to vulnerable consumers, and enable them to understand and access standard financial services packages (payment account, saving account, home/health insurance). The importance of better understanding consumer needs and preserve consumer trust was also highlighted.

    On sustainable finance, panellists remarked that investors still struggle to understand the technicalities of  product disclosures and the complex terminology attached to such disclosures. Simplification of the current Sustainable Finance Disclosures Requirements towards a categorisation system that works for retail investors was considered by the panellists to be the main area that regulators should focus on,  in addition to enhancing the financial literacy of retail investors.

    The ESAs will reflect on the input and suggestions heard from the audience and the panellists, and discuss the actions to be strenghtened  or to be taken going forward.

    See the EBA webpage and the recording of the event here

    MIL OSI Europe News

  • MIL-OSI: UXLINK Introduces Advanced Social Growth Layer to Revolutionize Web3 Development

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Oct. 17, 2024 (GLOBE NEWSWIRE) — UXLINK, a pioneer in Web3 social infrastructure, is proud to introduce its advanced Social Growth Layer, an infrastructure solution designed to accelerate Web3 development by offering comprehensive growth tools, including chain abstraction, unified accounts, and rich data integration.

    “We built the Social Growth Layer to address the unique challenges faced by Web3 developers,” said Sean, Founder at UXLINK. “With our suite of tools, developers can focus on creating engaging user experiences, while we handle the backend complexities, ensuring rapid application growth and success.”

    Empowering Developers to Innovate

    The Social Growth Layer provides modular services that cater to different applications, enabling developers to scale their projects without compromising on performance or security. Over 200 partners are already leveraging UXLINK’s infrastructure to build high-quality applications that resonate with users and drive adoption.

    UXLINK’s commitment to supporting the developer community is a cornerstone of its strategy to establish itself as the leading Web3 infrastructure provider for social applications.

    For partnership inquiries and more information, visit http://www.uxlink.io.

    About UXLINK:

    UXLINK is the world’s largest Web3 social platform and infrastructure provider, connecting a wide array of ecosystem partners and users through a seamless and interactive digital experience. By leveraging blockchain technology, UXLINK aims to redefine social networking, ensuring a secure, transparent, and rewarding environment for its global community.

    Contact Details:
    UXLINK: https://www.uxlink.io/
    Twitter: https://twitter.com/UXLINKofficial
    Telegram: https://t.me/uxlinkofficial, https://t.me/uxlinkofficial2
    CMC: https://coinmarketcap.com/currencies/uxlink/  

    Contact Information:
    UXLINK
    admin@uxlink.io

    Media Contact:
    Rachita Chettri
    MediaX Agency
    contact@mediax.agency

    Disclaimer: This content is provided by UXLINK. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ed196b7c-64de-4dcf-a44b-d8bfd739ba68

    The MIL Network

  • MIL-OSI Video: The Nexus of Innovation

    Source: World Economic Forum (video statements)

    As the Fourth Industrial Revolution advances, foundational technology domains are converging to create new opportunities. In addition to their breakthrough potential, the simultaneous development of quantum, robotics, AI and more are accelerating mutual advancements.

    What are the driving forces behind this convergence and how can organizations position themselves strategically within it for future growth?

    https://www.youtube.com/watch?v=gRYumw-G9D0

    MIL OSI Video

  • MIL-OSI United Kingdom: UK strikes at the heart of Russian energy revenues funding Putin’s war

    Source: United Kingdom – Government Statements

    The UK has today unleashed the largest package of sanctions to date against Putin’s shadow fleet of oil tankers.

    • Fresh sanctions unleashed against 18 Russian oil tankers and 4 liquified natural gas tankers – the largest sanctions action to date against Putin’s shadow fleet. 

    • The Foreign Secretary continues his personal mission to crack down on the full spectrum of Russian malign activity.  

    • The US and Canada sign up to the shadow fleet ‘Call to Action’ launched by UK Prime Minister Keir Starmer in July, bringing the total number of signatories to 47.

    The UK has today unleashed the largest package of sanctions to date against Putin’s shadow fleet of oil tankers.18 more shadow fleet ships will be barred from UK ports and unable to access world-leading British maritime services, bringing the total number of oil tankers sanctioned to 43. 

    The shadow fleet seeks to undermine sanctions and poses a clear and present danger. Environmental risks, such as oil spills, on our coastlines as a result of its flagrant violation of basic safety standards, but also risks to the security of global trade – the lifeblood of economic growth. 

    At the European Political Community Summit in July, the Prime Minister announced the shadow fleet call to action. Today the US and Canada have joined 44 European countries plus the EU in working together to tackle the risks posed by the shadow fleet. 

    The UK’s relentless action against the shadow fleet is putting grit into the system and starving Putin’s war machine of crucial revenues. The oil tankers targeted today have transported an estimated $4.9 billion in the last year alone. A significant number of the ships targeted by the UK to date have been forced to sit idling uselessly outside ports across the world, unable to continue pouring money into Putin’s war chest. 

    Sovcomflot, Russia’s largest shipping company, has been left desperately scrambling to rename and offload its vessels to dodge UK sanctions. Today we have targeted even more of its ships, further turning the screw on the mechanisms the Kremlin uses to fund its illegal war.  

    Alongside action against the shadow fleet, the UK is sanctioning 4 more LNG tankers and Russian gas company Rusgazdobycha JSC. We are continuing to ratchet up pressure on the beleaguered Russian gas industry, with flagship company Gazprom posting a significant net loss of $6.9 billion in 2023 – its first annual loss in more than 20 years.

    Foreign Secretary, David Lammy said:

    We must combat malign Russian activity at every turn, whether illicit tactics to bolster Putin’s war chest, their use of cyber-attacks or barbarism on the front line in Ukraine. 

    The UK is leading the charge against Putin’s desperate and dangerous attempts to cling on to his energy revenues, with his shadow fleet placing coastlines across Europe and the world in jeopardy. 

    I have made it my personal mission to constrain the Kremlin, closing the net around Putin and his mafia state using every tool at my disposal.

    This new shadow fleet package comes in the weeks following recent UK actions to sanction both Russian cyber-crime gang Evil Corp, and Russian troops found to be using chemical weapons on the front lines in Ukraine. It represents the latest in a drumbeat of activity, with each package designed to target a distinct aspect of Russia’s malign behavior and reinforce the UK’s commitment to global security and the rule of law.

    Background

    Sanctioned today are: 

    • NS BORA (IMO 9412335) 

    • ATLAS (IMO 9413573) 

    • MOSKOVSKY PROSPECT (IMO 9511521) 

    • NS ARCTIC (IMO 9413547) 

    • CALLISTO (IMO 9299692) 

    • SCF BAIKAL (IMO 9422457) 

    • SCF SAMOTLOR (IMO 9421972) 

    • SUVOROVSKY PROSPECT (IMO 9522324) 

    • EASTERN PEARL (IMO 9285859) 

    • KUDOS STARS (IMO 9288710) 

    • SEA FIDELITY (IMO 9285835) 

    • STRATOS AURORA (IMO 9288708) 

    • TURBO VOYAGER (IMO 9299898) 

    • AZURE CELESTE (IMO 9288722) 

    • VARUNA (IMO 9332810) 

    • SAI BABA (IMO 9321691) 

    • ARTEMIS (IMO 9317949) 

    • ANTAEUS (IMO 9299733) 

    • MARSHAL VASILEVSKIY (IMO 9778313) 

    • VELIKIY NOVGOROD (IMO 9630004) 

    • MULAN (IMO 9864837) 

    • EVEREST ENERGY (IMO 9243148) 

    • RUSGAZDOBYCHA JSC 

    Today’s announcement comes as the United States and Canada have united in support of the European Political Community (EPC) Call to Action , demonstrating their shared determination to address the risks that the shadow fleet poses to the environment, maritime safety and security in Europe and beyond, the integrity of international seaborne trade, and respect for international maritime law. 

    Separately, the UK is taking steps to combat malign, Russian-backed maritime activity near the UK:  

    • The Department for Transport is working alongside the Joint Maritime Security Centre (JMSC) and the Maritime and Coastguard Agency (MCA) to challenge shadow fleet vessels with suspected dubious insurance to provide details of their insurance status as they pass through the English Channel. 

    • Any actor that facilitates and supports Russia’s malign activities could be exposing themselves to sanctions

    Ships specified under the Russia (Sanctions) (EU Exit) Regulations 2019 are prohibited from entering a port in the UK, may be given a movement or a port entry direction, can be detained, and will be refused permission to register on the UK Ship Register or have its existing registration terminated. In addition, the Oil Price Cap exception is not applicable to services in relation to specified ships, or to the supply or delivery of Russian oil or oil products in specified ships 

    The Office for Financial Sanctions Implementation has published guidance on the Russian Oil Services ban. Limited exceptions apply and licences may be granted for specified ships, as set out in Part 7 of the Russia (Sanctions) (EU Exit) Regulations 2019

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom

  • MIL-OSI: reAlpha’s ‘Be My Neighbor’ Secures Mortgage Broker License in New Mexico

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ohio, Oct. 17, 2024 (GLOBE NEWSWIRE) — reAlpha Tech Corp. (“reAlpha” or the “Company”) (Nasdaq: AIRE), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today announces the operational expansion of its subsidiary, Be My Neighbor (“BMN”). BMN, a veteran-operated mortgage brokerage company, has obtained its broker license in the State of New Mexico.

    “Securing this license in New Mexico is a pivotal step in our expansion strategy,” said Nathan Nottingham, Chief of Staff of BMN. “We’re excited to bring our client-focused mortgage services to New Mexico, providing residents with a more personalized and efficient home financing experience.”

    As part of its strategic growth plan, BMN will continue to expand into additional states, delivering accessible, transparent, and community-driven mortgage solutions.

    About reAlpha Tech Corp.
    reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha’s goal is to offer a more affordable, streamlined experience for those on the journey to homeownership. For more information, visit http://www.realpha.com.

    About Be My Neighbor
    Debt Does Deals, LLC (d/b/a Be My Neighbor) is a veteran-operated mortgage brokerage company operating in 27 states. The company believes that one house has the power to make a life-changing impact for a family and future generations. Their mission is to bring humanity back into the biggest financial real estate decision that a person will make in their lifetime by showing them how to build generational wealth through smart real estate decisions and actually enjoy the process along the way. For more information, visit bemyneighbor.mortgage.

    Forward-Looking Statements
    The information in this press release includes “forward-looking statements”. Forward-looking statements include, among other things, statements about BMN’s recently acquired broker license in New Mexico; the anticipated benefits of BMN’s expansion into New Mexico and plan to expand into additional states; reAlpha’s and BMN’s ability to anticipate the future needs of the short-term rental market; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha’s and BMN’s future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha’s ability to commercialize its developing AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to integrate the business of BMN into its existing business and the anticipated demand for BMN’s services in any of the markets reAlpha or BMN operates or provide services in; BMN’s ability to expand into additional states; reAlpha’s ability or the inability to maintain and strengthen reAlpha’s brand and reputation; the inability to accurately forecast demand for short-term rentals and AI-based real estate focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s U.S. Securities and Exchange Commission (“SEC”) filings.

    Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements.

    Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements.

    For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC.

    Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Company Contact
    Investor Relations
    investorrelations@realpha.com

    Media Contact
    irlabs on behalf of reAlpha
    Fatema Bhabrawala
    fatema@irlabs.ca

    The MIL Network

  • MIL-OSI United Kingdom: Department for Education establishes Science Advisory Council

    Source: United Kingdom – Executive Government & Departments

    New team of experts to provide the latest scientific advice across a range of specialisms to support the department’s work.

    A panel of scientific experts is set to provide education policy makers with advice on strategic and emerging issues through a new Science Advisory Council, the Department for Education announced today (Thursday 17 October). 

    Professor Russell Viner, the Department for Education’s Chief Scientific Adviser, has established a team of 12 experts with a range of specialisms to ensure access to the best and latest scientific advice – helping the department’s work to break down the barriers to opportunity by protecting children and ensuring the delivery of higher standards of education, training and care. 

    Led by Professor Dame Athene Donald as chair, the independent panel will provide scientific advice to the Department for Education on matters relevant to its policy and operations. This will include areas such as early identification and support of children with Special Educational Needs and Disabilities (SEND), mental health support, online harms prevention, a sustainable and secure school estate and Artificial Intelligence and education technology.  

    The Council will also work with the Chief Scientific Adviser to identify and share emerging scientific trends with officials and facilitate effective links between the department and the wider scientific community. 

    Professor Russell Viner, Chief Scientific Adviser at the Department for Education, said: 

    We are the department for opportunity, working to deliver better life chances for all – and that means being at the forefront of cutting-edge scientific evidence to ensure we are doing everything we can to break the link between background and success. 

    We must keep pace with technological and scientific advancements if we are to deliver the highest standards for the people we serve. Science alone can’t address the challenges the department faces – but it can inform robust, evidence-informed decision making.

    Chair Professor Dame Athene Donald, Professor Emerita of Experimental Physics and former Master of Churchill College, University of Cambridge, will be supported by Deputy Chair, Professor Mark Mon-Williams. Mark is the Chair of Cognitive Psychology at the University of Leeds and the Founder Director of the Centre of Applied Education Research. 

    The other ten members have expertise in fields including economics, social science, statistics, operational research and engineering, physical and life sciences, ethics, and data science. Between them they have worked on studies looking at school health interventions, the impact of AI on learning, how digital technologies affect adolescent mental health, how childhood circumstances influence child development and early interventions. 

    Plenary meetings will be held quarterly and will include attendance by the Chief Scientific Adviser, a non-executive board member and other relevant officials. Smaller, task-relevant meetings and workshops will occur as needed in response to departmental requests and needs.

    The panel members are: 

    • Chair: Professor Dame Athene Donald, DBE, FRS, Professor Emerita of Experimental Physics and former Master of Churchill College, University of Cambridge.  

    • Deputy Chair: Professor Mark Mon-Williams, Chair of Cognitive Psychology, University of Leeds.  

    • Professor Chris Bonell, Professor of Public Health & Sociology, London School of Hygiene and Tropical Medicine.  

    • Professor William J. Browne, Professor of Statistics & Head of the School of Education, University of Bristol.  

    • Dr Claire Crawford, Associate Professor at the Centre for Education Policy and Equalising Opportunities, University College London.  

    • Michael Cribb, Chartered Structural Engineer and Associate Director, Arup.  

    • Dr Dougal Hargreaves, Houston Reader in Paediatrics & Population Health, Imperial College London.  

    • Dr Sonya Krutikova, Associate Professor of Economics, University of Manchester, & Deputy Research Director, Institute for Fiscal Studies.  

    • Professor Rose Luckin, Professor Emeritus of Learner Centred Design, University College London.  

    • Dr Amy Orben, Leader of the Digital Mental Health Group at the MRC Cognition and Brain Sciences Unit, University of Cambridge.  

    • Professor Paul Ramchandani, LEGO Professor of Play in Education, Learning and Development, University of Cambridge. 

    • Professor Michael J. Reiss, Professor of Science Education at the Institute of Education, University of London & University College London.

    DfE media enquiries

    Central newsdesk – for journalists 020 7783 8300

    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Europe: MOTION FOR A RESOLUTION on the urgent need to revise the Medical Devices Regulation – B10-0125/2024

    Source: European Parliament

    B10‑0125/2024

    European Parliament resolution on the urgent need to revise the Medical Devices Regulation

    (2024/2849(RSP))

    The European Parliament,

      having regard to Article 168 of the Treaty on the Functioning of the European Union, which provides that ‘a high level of human health protection shall be ensured in the definition and implementation of all Union policies and activities’,

     having regard to Regulation (EU) 2017/745 of the European Parliament and of the Council of 5 April 2017 on medical devices, amending Directive 2001/83/EC, Regulation (EC) No 178/2002 and Regulation (EC) No 1223/2009 and repealing Council Directives 90/385/EEC and 93/42/EEC (MDR)[1], and Regulation (EU) 2017/746 of the European Parliament and of the Council of 5 April 2017 on in vitro diagnostic medical devices and repealing Directive 98/79/EC and Commission Decision 2010/227/EU (IVDR)[2],

     having regard to the Commission’s 2023 implementation report on the MDR/IVDR[3],

     having regard to the European Medicines Agency’s 2023 Annual Report and its review on market access and safety concerns for medical devices[4],

     having regard to Rule 136(2) of its Rules of Procedure,

    A. whereas medical devices and in vitro diagnostic medical devices play a crucial role in modern healthcare, directly affecting the health, safety and well-being of millions of patients across the EU;

    B. whereas the introduction of the MDR and the IVDR was intended to strengthen the regulatory framework for medical devices and in vitro diagnostic medical devices, ensuring higher standards of safety, transparency and clinical performance, while also fostering innovation in the sector;

    C. whereas despite these aims, significant challenges have been encountered in implementing the MDR and the IVDR, not only leading to delays but also resulting in failures to achieve certification and approval of medical devices and in vitro diagnostic medical devices, particularly impacting small- and medium-sized enterprises (SMEs), as well as resulting in shortages of medical devices and in vitro diagnostic medical devices, thus restricting patient access to innovative therapeutic and diagnostic technologies;

    D. whereas many stakeholders, especially including SMEs, notified bodies and healthcare providers, have reported difficulties in navigating the complex and costly regulatory procedures under the current MDR and IVDR framework, with potential risks posed to the continuous availability of life-saving medical devices and critical in vitro diagnostic tests in Europe as manufacturers reduce their product portfolios and withdraw from the EU;

    E. whereas recent scientific and market data point to concerns about shortages of capacity among notified bodies, leading to bottlenecks in the certification process, as well as a lack of clarity around the interpretation of several key provisions of the MDR and the IVDR;

    F. whereas the COVID-19 pandemic further exposed vulnerabilities in the EU’s supply chain for medical devices and in vitro diagnostic medical devices, highlighting the need for more flexible and efficient regulatory mechanisms to ensure timely access to essential devices during public health emergencies;

    G. whereas given the rapid pace of innovation, including advances in digital health, artificial intelligence and personalised medicine, there is an urgent need to revise the MDR and the IVDR in order to accommodate new technologies and ensure that the regulatory framework remains fit for purpose;

    H. whereas practical observations following the adoption of the MDR and the IVDR indicate that significant financial and administrative barriers for orphan and innovative devices stem from the complex procedures of conformity assessment, including obtaining scientific advice, fees required by notified bodies, the extensive and unpredictable duration of the conformity assessment process, and the associated costs;

    I. whereas the MDR and the IVDR also present challenges for maintaining equitable access to devices across all of the Member States, with patients in less economically developed regions facing additional delays in accessing new technologies;

    1. Calls on the Commission to put forward, in the first hundred days of the new mandate, a proposal for a systematic revision of Medical Devices Regulation (EU) 2017/745 (MDR) and In Vitro Diagnostic Medical Devices Regulation (EU) 2017/746 (IVDR);

    2. Recognises the significant contributions of the MDR and the IVDR to enhancing the safety and quality of medical devices, but stresses the need for an urgent review of some of its provisions to address the delays and bottlenecks that are currently hampering access to medical technologies; underlines that the review must aim to make full use of the mechanisms in Article 36(3) MDR to adopt implementing acts in order to resolve issues of divergent interpretation and of practical application to streamline the regulatory process, improve transparency and reduce the bureaucratic burden by eliminating any unnecessary administrative work for notified bodies and manufacturers, particularly SMEs, without compromising on patient safety;

    3. Stresses the importance of increasing the capacity of notified bodies in order to ensure the timely certification of medical devices and in vitro diagnostic medical devices; urges the Member States and the Commission to implement measures that significantly increase the speed and efficiency of these bodies in order to address the critical demand in the medical device sector;

    4. Advocates for the abolition of re-certification for lower-risk products, including Class IIa and certain Class IIb devices, which should continue to be valid subject to appropriate surveillance by the notified body;

    5. Asks the Commission also to consider the abolition of re-certification for implantable devices in Class IIb and devices in Class III, provided ongoing compliance with post-market surveillance and periodic safety update reports demonstrate that the devices perform as intended;

    6. Asks the Commission also to consider the abolition of repeated re-certification for in-vitro diagnostic medical devices after an initial re-certification after five years, subject to appropriate surveillance by the notified body;

    7. Advocates for the creation of transparent, harmonised, maximum durations for procedural steps in conformity assessments by notified bodies, which would create legal certainty for manufacturers regarding the market access procedure and its duration within the EU;

    8. Demands the transparency and EU-wide harmonisation of notified bodies’ fees and fee structures, published in a standardised EU dashboard to allow economic operators to compare notified bodies and make informed choices, ensuring that fees remain a fair compensation for the public service provided;

    9. Calls for a revision of the qualification criteria for persons responsible for regulatory compliance (PRRCs) in the MDR and the IVDR; recommends that the criteria be changed to allow practical experience and training as an alternative to academic qualifications, thereby ensuring that a broader range of competencies are considered for the qualification of PRRCs;

    10. Calls for the regulatory adaptation of the MDR and the IVDR to accommodate new technologies; recognises that the current framework of the MDR and the IVDR does not fully accommodate rapid advancements in medical technology, especially in fields such as digital health, AI-driven diagnostics and personalised medical devices; calls for amendments to the MDR and the IVDR to establish clear and fast-track pathways for the approval of innovative technologies, ensuring their safety and performance; proposes the introduction of a prioritisation procedure for innovative medical devices and in vitro diagnostic medical devices, including a fast-track approval process for breakthrough devices that are potentially life-saving or otherwise significantly improve the standard of care;

    11. Calls for clear definitions of ‘orphan device,’ ‘orphan population’ and ‘orphan subpopulation’, as determined by the Medical Device Coordination Group in the MDR and the IVDR, to be given in order to provide legal clarity and facilitate the adoption of harmonised measures across the EU, thereby ensuring a high level of safety, quality and transparency in the granting of market access to critical medical devices and in vitro diagnostic medical devices;

    12. Calls for the introduction of simplified rules for niche market (and orphan) medical devices analogous to those in other jurisdictions, such as the US; emphasises the need for less burdensome conformity assessment procedures tailored to medical devices and in vitro diagnostic medical devices serving relatively small markets, such as products for the treatment of children or rare diseases;

    13. Urges the creation of a register to monitor and ensure the safety and efficacy of these niche and orphan devices; suggests, further, the creation of EU-wide clinical registries, or the amalgamation of data from current national registries, in order to gather comprehensive clinical data on small patient groups that benefit from the availability of orphan devices; notes that this initiative aims to enhance the overall quality of care and support manufacturers in collecting necessary clinical data, especially in indications where multiple orphan devices are available, allowing for combined treatment data to be evaluated and published regularly; observes that the goal is to assure maximum transparency and safety while allowing a streamlined and less bureaucratic approach for niche and orphan devices;

    14. Recognises the disproportionate regulatory burden faced by SMEs, which are responsible for the majority of products in the medical device and in vitro diagnostic medical device sector; highlights that this burden threatens to stifle innovation and reduce competition; urges the Commission to develop specific measures to support SMEs, including the provision of model application documents and forms, financial assistance, regulatory guidance and tailored certification pathways that reduce costs and complexity while maintaining high standards of patient safety; proposes the reduction of conformity assessment costs for SMEs by implementing specific provisions such as a reduction in fees, deferral of the payment of fees and provision of administrative assistance through a central EU contact point;

    15. Calls for enhanced flexibility in the regulatory process during public health emergencies; stresses the need for a dynamic regulatory framework capable of a rapid response to public health crises, such as pandemics or unforeseen emergencies; urges the Commission to establish emergency provisions that allow for the temporary streamlining of certification processes for critical medical devices, ensuring that such adjustments do not compromise safety standards, thereby facilitating timely access to essential devices during times of crisis; calls for the Commission, in cooperation with the Health Emergency Preparedness and Response structure, to establish a non-exhaustive list of critical medical devices;

    16. Calls for the establishment of a central governance structure or medical device office within the Commission’s Directorate-General for Health to centralise responsibilities and powers in the designation management and surveillance of notified bodies, the harmonisation of administrative practices, the development of guidance on the implementation and application of EU regulations applicable to medical devices and in vitro diagnostic medical devices, and the coordination of the applicability of other EU regulations to medical devices and in vitro diagnostic medical devices with other directorates-general of the Commission;

    17. Calls for a stronger and more harmonised post-market surveillance system that makes use of real-world data and patient feedback to identify and address safety issues more rapidly; encourages, therefore, the establishment of a centralised EU database for post-market data as part of the module for vigilance and post-market surveillance of the European Database on Medical Devices that ensures transparency and facilitates cross-border cooperation in monitoring device performance and addressing risks;

    18. Calls on the Member States to inform the central governance structure or office of the results of notified body audits and specific instructions issued to notified bodies concerning administrative practices and conformity assessment procedures; highlights the need for this central governance structure or office to coordinate Member States’ market surveillance and vigilance activities in order to enhance the efficiency of market surveillance across the EU;

    19. Urges the Commission to strengthen international cooperation on the simplification, assimilation and mutual recognition of national certification processes, in particular with the US Food and Drug Administration;

    20. Calls for an appropriate transition period before the implementation of new rules; emphasises the need to set a transition period before the enforcement of new regulations that would allow enough time for manufacturers to prepare and for the necessary institutional infrastructure to be established; notes that this measure ensures that all stakeholders are fully equipped to meet the regulatory requirements without compromising the overarching objectives of the legislation;

    21. Instructs its President to forward this resolution to the Council, the Commission and the governments and parliaments of the Member States.

     

     

     

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: PRESIDENT OF INDIA VISITED MAURITANIA YESTERDAY

    Source: Government of India (2)

    PRESIDENT OF INDIA VISITED MAURITANIA YESTERDAY

    MET PRESIDENT OF PRESIDENT OF MAURITANIA; LED DELEGATION LEVEL-TALKS

    PRESIDENT MURMU ADDRESSED INDIAN COMMUNITY IN MAURITANIA

    INDIAN COMMUNITY’S SKILLS, EXPERTISE AND EXPERIENCE MATTER FOR INDIA’S PROGRESS: PRESIDENT MURMU

    FOUR MOUS IN THE AREAS OF TRAINING OF DIPLOMATS, CULTURAL EXCHANGE, VISA EXEMPTION AND FOREIGN OFFICE CONSULTATIONS WERE SIGNED AND EXCHANGED

    Posted On: 17 OCT 2024 11:12AM by PIB Delhi

    The President of India, Smt Droupadi Murmu, was in Mauritania yesterday (October 16, 2024), on the second leg of her State Visits to Algeria, Mauritania, and Malawi. On her arrival at Nouakchott-Oumtounsy Airport, President Droupadi Murmu was warmly received by the President of the Islamic Republic of Mauritania, H.E. Mr Mohamed Ould Ghazouani and accorded a ceremonial welcome. The Prime Minister and cabinet ministers of Mauritania were also present on the occasion.

    This is the first visit by an Indian President to Mauritania. The President was accompanied by the Minister of State, Shri Sukanata Majumdar, and Members of Parliament, Shri Mukeshkumar Dalal and Shri Atul Garg .

    The President addressed the members of the Indian Community in Mauritania at a Reception hosted by the Ambassador of India to Mauritania.

    Addressing the small but vibrant gathering of the Indian community, the President commended the Indian community for contributing significantly to the socio-economic development of Mauritania. She said that their skills, expertise and experience are also important for India’s progress.

    The President appreciated the Government and people of Mauritania for supporting the Indian community. She said that because of their inclusive and welcoming spirit, the Indian community in Mauritania is prospering.

    After the community reception event, the President visited the Presidential Palace where she held a meeting with President Mohamed Ould Ghazouani of Mauritania. Both leaders discussed ways to further strengthen the relationship between India and Mauritania. Subsequently, they led the delegation-level talk and witnessed the signing and exchange of four MoUs in the areas of training of diplomats, cultural exchange, visa exemption and Foreign Office consultations.

    Earlier, the Minister of Foreign Affairs, Cooperation and Mauritanians Abroad of Mauritania, H.E. Mr Mohamed Salem Ould Merzoug called on the President in a separate engagement.

    The President left for Malawi – the final leg of her three-nation visit.

    Please click here to see the President’s Speech – 

     

    ***

    MJPS/SR

    (Release ID: 2065646) Visitor Counter : 26

    MIL OSI Asia Pacific News

  • MIL-OSI: Calian continues to respond to growing demand for global defence solutions

    Source: GlobeNewswire (MIL-OSI)

    OTTAWA, Ontario, Oct. 17, 2024 (GLOBE NEWSWIRE) — Calian Group Ltd. (TSX: CGY), closed fiscal year 2024 ending September 30, having signed several defence contracts in the fourth quarter valued at approximately $29 million, further solidifying its position as a trusted partner in the global defence industry. These new contracts align with Calian’s mission to equip, prepare and protect military personnel as global military spending continues to surge amid war, geopolitical instability and the heightened need for new and advanced technologies.

    Global defence budgets continue to rise and are projected to reach $2.5 trillion by 2028 according to Markets and Markets. Throughout FY2024, Calian continued to win contracts to support key global defence initiatives that enhance military readiness and operational effectiveness. Closing out Q4, Calian was selected to provide Canada and NATO members with operational and training support, defence manufacturing, engineering support and technical expertise.

    “As the world faces continued unrest, Calian is more dedicated than ever to delivering cutting-edge defence solutions to ensure the preparedness and safety of Canadian, NATO and allied personnel,” said Kevin Ford, CEO, Calian. “Our recent contract signings reflect the growing trust our global partners place in Calian to support critical global defence initiatives. As we move into FY2025, we remain focused on helping our allies prepare for the complex challenges that lie ahead, equipping them with the tools and expertise needed to safeguard national and global security.”

    In a 2024 McKinsey & Company report they indicated that following the invasion of Ukraine, NATO member states have announced plans to spend significantly more on defence in the coming years. It goes on to add that if actual spending stays in line with the latest announcements made by European governments, their analysis estimates that cumulative defence spending could increase by €700 billion to €800 billion between 2022 and 2028, with total European spending reaching as much as €500 billion per year in 2028. With Calian’s recent acquisition of U.K.’s Mabway, combined with its leadership in providing defence readiness expertise for NATO countries, Calian is uniquely positioned going into FY2025 to support these increasing demands.

    With over 40 years of experience delivering defence solutions to Canada and its global allies, Calian provides a broad portfolio of services, including military training, simulation, healthcare, cybersecurity and complex systems integration. These recent Q4 contract signings reinforce Calian’s commitment to helping military forces remain ready and resilient in today’s fast-changing security environment.

    Learn more about how Calian delivers confidence for military customers, no matter their needs: https://www.calian.com/defence/.

    About Calian
    http://www.calian.com
    We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex challenges. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.

    Product or service names mentioned herein may be the trademarks of their respective owners.

    Media inquiries:
    media@calian.com
    613-599-8600 x 2298

    Investor Relations inquiries:
    ir@calian.com

    DISCLAIMER
    Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

    Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
    Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: info@calian.com

    The MIL Network