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Shafaq News/ On Saturday, Fahad M. Alturki, Director-General of the Arab Monetary Fund, stated that digital transformation is “crucial” for reshaping the banking sector in Arab countries. Speaking at the Electronic Payment Conference on Financial Stability in Iraq, Alturki said, “Regulatory frameworks, electronic financial transfers, digital financial consumer protection, and anti-money laundering requirements must balance stimulating digital transformation with managing and mitigating risks.” He added, “Governments and central banks can support digital transformation by establishing digital regulations, evident in investments in digital infrastructure and addressing cybersecurity challenges, which helps create an environment that fosters innovation and growth in the banking sector.” Furthermore, Alturki highlighted that “investment in digital infrastructure can boost digital banking services, enhancing access to banking services and products for both users and non-users of the financial system.” "The Arab region has experienced significant growth in fintech companies, with around 1,500 such firms globally and within the region by mid-2024." The Director-General also noted, “Global fintech statistics present significant investment opportunities, with total investments in fintech reaching about $115 billion in 2023, and expected to grow to $325 billion by around 2026.” Earlier today, during the same event, Iraq’s Financial and Economic Advisor to the Prime Minister, […]

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Cranes and shipping containers at the Port of Los Angeles. A recent congressional report alleges that Chinese-made tech in U.S. shipping infrastructure could support cyber breaches and espionage. Cranes and shipping containers at the Port of Los Angeles. A recent congressional report alleges that Chinese-made tech in U.S. shipping infrastructure could support cyber breaches and espionage. Chinese-made cargo equipment enables cyber, espionage risks in US ports, congressional probe finds Reps. Garret Graves, R-La., and Abigail Spanberger, D-Va., moved forward with efforts to bring legislation that would eliminate the windfall elimination provision to a floor vote in the House.

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Despite the buzz around AI in packaging and processing, concerns like security and data hallucinations are causing hesitation about the technology. Sep 12, 2024 Some CPG stakeholders are hesitant to adopt AI technologies due to concerns including employee pushback and data security. PMMI Business Intelligence: The AI Advantage in Equipment: Boosting Performance and Bridging Skills Gaps Artificial intelligence (AI) has the potential to be a transformative tool for the packaging and processing industry, but the technology includes a few significant drawbacks to consider. That’s according to PMMI Business Intelligence’s 2024 report, “The AI Advantage in Equipment: Boosting Performance and Bridging Skills Gaps,” where Business Intelligence researchers interviewed industry stakeholders to understand current applications, ambitions, and attitudes on AI in packaging and processing. Cybersecurity concerns AI models require data for training, and how much customer data is required depends on the technology. Predictive maintenance, for example, requires continuous monitoring of end users’ data to function and data ownership varies between solutions. Digital twin simulations, however, can perform their function with just the machine parameters. Navigating cybersecurity issues is always a challenge, but as data security and technology improve, legislation changes, and public trust in these tools increases, it may be […]

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OutSystems , a Boston-headquartered low-code app development platform, sees “immense potential” in Southeast Asia as it taps into the opportunities for AI-powered low-code technology, its executive said. “Southeast Asia is a dynamic and rapidly growing market with immense potential, and Malaysia stands at the forefront of this digital revolution, especially with the country’s digital economy sector is expected to contribute 25.5 percent to Malaysia’s Gross Domestic Product (GDP) in 2025,” OutSystems Southeast Asia and Greater China Regional Vice-President Arnold Consengco told TNGlobal in an interview. ​​ “Malaysia, with its vibrant tech ecosystem and a strong drive towards digital transformation, is particularly ripe for AI-powered application generation solutions. We believe that by leveraging AI-powered low-code application generation, we can unlock new levels of innovation, and help Malaysian businesses of all sizes compete on a global scale,” he added. Founded in 2001, in Lisbon, Portugal, OutSystem sells low-code app development tools. Its network spans more than 750,000 community members, over 500 partners, and active customers in 80 countries across 21 industries. The company counts global investment firm KKR, Goldman Sachs Private Capital Investing, Armilar Venture Partners as backers. OutSystems was last publicly valued at $9.5 billion after raising a $150 million […]

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Image Credit: Telenor Group Telenor Group has announced an expanded partnership with Google Cloud to accelerate its digital transformation through advanced data capabilities. By partnering with Google Cloud, Telenor aims to transform how it leverages its data, delivering a unified data and analytics platform designed to improve customer experience, support new product development, and streamline operations. Utilizing Google Cloud’s suite of data and analytics products and solutions, Telenor will integrate Google Cloud’s BigQuery with Vertex AI and Looker to create a harmonized cloud-native data and analytics orchestration platform called Nova. Nova will allow Telenor to seamlessly implement any cloud instance, harnessing data and AI to enable hyper-personalized customer experiences, optimize network operations, and support operational excellence across Telenor Nordics. Additionally, Google Cloud will provide real-time data tools including Dataflow, Cloud Data Fusion, Pub/Sub, Dataform, and Dataplex. These tools will enable Telenor to gain real-time insights into vast amounts of data, generate deeper analytical insights in minutes rather than days, and enhance governance and speed in developing data and AI products. Amol Phadke, EVP and Group Chief Technology Officer, Telenor Group Data is foundational to AI development and enterprise transformation. We are excited to partner with Google Cloud to unleash […]

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ANI Bhopal (Madhya Pradesh) [India], September 13 (ANI): The Department of Science and Information Technology, Government of Madhya Pradesh, in association with MPseDC (MP State Electronics Development Corporation Ltd) and GovConnect (an ilouge Media initiative), is all set to host the 14th edition of the Digital Transformation Conclave in Bhopal on Friday. The premier event will take place today, September 13 in the state capital Bhopal, bringing together industry leaders, policymakers, and experts to discuss the future of government transformation and sustainability in the digital age, according to a release. The theme of the conclave is ‘Empowering Tomorrow: The Convergence of Technology and Governance’ and it aims to foster a collaborative environment for knowledge exchange and initiatives contributing to the nation’s digital evolution. The event features keynote speeches, panel discussions, case study presentations, and networking sessions, providing participants with ample opportunities for in-depth discussions and learning from digital transformation experts. The inaugural session, ‘Digital Governance 2.0: Future of Government TransformationSustainability,’ will feature insightful discussions from renowned experts, including NSN Murty (Deloitte India), Amitabh Nag (Digital India Bhashini Division), GVL Satya Kumar (Centre for Railway Information Systems), G Narendra Nath (National Security Council Secretariat), Brijesh Singh (Government of Maharashtra), and […]

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Michael Hill Starbucks, Arsenal FC, Unilever – PEX Network PEX Network ’s weekly news bulletin rounds up the latest from the process community including operational excellence, digital transformation, business process management (BPM), process mining, artificial intelligence (AI) and much more. This week includes: New Starbucks chief pledges to tackle slow and inconsistent operations Arsenal FC reveals ambitious digital transformation goals Unilever targets generative AI-enhanced productivity John Lewis uses AI to revive price promise scheme Fresh Del Monte Produce appoints new SVP to drive operational excellence Formula E races to record-breaking growth The Digital Formula podcast explores process intelligence New Starbucks chief pledges to tackle slow and inconsistent operations Starbucks’ new CEO has pledged to address recent failings at the company by investing in technology that will enhance partner and customer experiences, improve its supply chain and evolve its app and mobile ordering platform. In an open letter on his second day on the job, Brian Niccol said: “Over the past few weeks, I’ve spent time in our stores, speaking with partners and customers and talking with teams across operations, store design, marketing and product development.” In some places – especially in the US – Starbucks stores aren’t always delivering, […]

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UST Logo Designed for the retail sector, the UST Retail GenAI Platform empowers businesses with end-to-end operational enhancements, driving efficiency and growth. Purpose-built for retailers, the UST Retail GenAI Platform delivers comprehensive tools to optimize every facet of retail operations, from logistics to customer experience. LONDON, Sept. 13, 2024 /PRNewswire/ — UST , a leading digital transformation solutions company, has unveiled its ‘ UST Retail GenAI platform ‘ at the London Innovation Lab. Steve Rempel, SVP & International CIO at Walgreens Boots Alliance , inaugurated this pioneering platform to transform retail operations through the power of Generative AI. Steve shared valuable insights on critical success factors to enable GenAI adoption, including the need to appreciate the trust cycle while planning various investments. Prior to the inauguration, UST’s CEO, Krishna Sudheendra, shared the focus with which UST is championing the adoption of Generative AI, including the in-house program to train 25,000 employees on GenAI . AI has the potential to unlock between $400B and $660B in economic value for the retail industry, according to research . However, few companies have fully realized the potential of new technologies. Developed in-house by UST’s technology and industry sector experts, the platform combines established […]

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ASIA Electronic Health Records (EHR, EMR) The clinic network will leverage HIMSS’s globally adopted digital maturity frameworks and network of subject matter experts. By Adam Ang 05:14 AM Dr Thirunavukarasu Rajoo, CEO, CareClinics and Simon Lin, Managing Director, APAC and VP, HIMSS with the signed agreements Photo courtesy of HIMSS CareClinics, a private clinic group in Malaysia, has signed an agreement with HIMSS to advance its digital transformation. Founded in 2003, the company operates a network of over 100 primary care clinics in the country. According to the memorandum of understanding, CareClinics will leverage HIMSS’s digital capacity and maturity frameworks to build a digital health ecosystem that "supports patient-centric care, predictive population health, and a proactive approach to health and wellness for the Malaysian population." CareClinics will also gain access to HIMSS’s global network of experts and specialists to support the group in enhancing its adoption of digital technologies. Additionally, CareClinics will work with HIMSS on education and workforce development initiatives such as curated courses and professional certifications to improve the digital health capacity and competency of its workforce. THE LARGER TREND Malaysia’s Ministry of Health is currently pushing for reforms to its healthcare system through digital transformation. A […]

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Strategic alliance combines AI technology and venture building expertise to transform customer engagement and business growth NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) — Rezolve AI (Nasdaq: RZLV), a leading provider of AI-powered solutions for commerce, announces a strategic partnership with Creative Dock, a global leader in corporate venture building and digital innovation. This collaboration aims to revolutionize the commerce sector by combining Rezolve AI’s cutting-edge technology with Creative Dock’s expertise in building innovative ventures that drive value for businesses. With over 120 ventures launched, Creative Dock has an international footprint spanning 52 countries, with major clients such as Deutsche Bank, Raiffeisen, Adidas, and leading Telcos across Europe and the Middle East. Their annual sales growth of 30% underscores their success and expansion in the market. Rezolve AI’s AI solutions enhance customer engagement, streamline transactions, and drive revenue growth. By partnering with Creative Dock, the company takes a bold step towards accelerating digital transformation in commerce with AI-driven innovation. "As pioneers in AI for commerce, we are thrilled to join forces with Creative Dock to redefine how businesses engage with their customers," said Daniel M Wagner, CEO and Chairman of Rezolve AI. "Together, we will empower companies to fuel […]

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