COVID-19 – Page 3

Steel Wire Market worth $124.7 Billion by 2025 – Exclusive Report by MarketsandMarkets™

January 16, 2021 Published by Roboticulized.com

According to the new market research report “Steel Wire Market by Form (Non-rope, Rope), Type (Carbon Steel, Alloy Steel, Stainless Steel), End-use Industry (Construction, Automotive, Energy, Agriculture, Industrial), Thickness, and Region – Global Forecast to 2025″, published by MarketsandMarkets, the Steel Wire Market size is expected to grow from USD 93.1 billion in 2020 to USD 124.7 billion by 2025, at a CAGR of 6.0% during the forecast period.

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Browse in-depth TOC on “Steel Wire Market”
143 – Tables
50 – Figures
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Steel wire is extensively being used in the construction, automotive, energy, agriculture, industrial, and other end-use industries. The increasing construction & infrastructure projects support the demand for steel wire in the construction end-use industry.

Non-rope form of steel wire comprises a major share of the steel wire market in terms of value and volume.

In the non-rope form, steel wires are used in a wide range of applications such as wire for tires, hoses, galvanized wires and strands, ACSR strands, and armoring of conductor cables, springs, fasteners, clips, staples, mesh, fencing, screws, nails, barbed wires, chains, etc. Steel wire finds wide applications in the construction industry, including steel fiber in concrete and prestressed steel wire in the prestressed concrete structure; It also finds applications in the automotive industry.

The COVID-19 pandemic resulted in a decline in industrial activities in the first half of 2020 across the globe. It resulted in reduced demand for steel wire from various end-use industries. The market for the non-rope form of the steel wire segment is expected to decline by 6.7% in terms of volume in 2020 compared with the previous year.

The carbon steel type accounts for the largest market share in the global steel wire market during the forecasted period in terms of value and volume

Carbon steel is the largest type of steel used for manufacturing steel wire. The carbon steel wire gives high strength and it is used in a wide range of applications such as for tires, cords, hoses, galvanized wires and strands, ACSR strands and armoring of conductor cables, fencing, springs, fasteners, clips, staples, mesh, screws, nails, barbed wires, chains, and steel fibers in concrete. The wide applications and acceptance of carbon steel wires is expected to drive the demand during the forecasted period. The COVID-19 pandemic has resulted in reduced demand for steel wires from major applications such as construction reinforcement and ACSR strands. These factors are expected to reduce the demand for carbon steel wire in 2020. The steel wire consumption is expected to recover post the pandemic.

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The construction end-use industry accounted for the largest market share in the global steel wire market during the forecast period in terms of value and volume.

The construction end-use industry holds the dominant market share in the global steel wire market, both in terms of value and volume. The construction industry has increased demand for steel wire in prestressed concrete applications as it reduces the construction time and concrete material requirement. The demand for steel wires from construction end-use is expected to decline in 2020 due to halts in construction projects in the first half of 2020. Also, major manufacturers temporarily closed their plants during the lockdown. The demand is expected to recover after the COVID-19 pandemic is under control.

APAC is expected to account for the largest market share in the steel wire market during the forecast period.

APAC accounts for the biggest share of the global steel wire market. The construction and automotive end-use industry are major consumers of steel wire in the region. The region is home to some of the major steel wire manufacturers such as Kobe Steel, Tata Steel, and Nippon Steel. Moreover, the China is a manufacturing hub of various commercial, military, and passenger automotive vehicles. Europe is the second major consumer of steel wire construction; automotive and energy are the major industries fueling the growth of the steel wire market in this region.

However, the COVID-19 outbreak has affected the demand for steel wire s in the region. On the positive side, support packages offered by governments of various countries will help to maintain the liquidity in steel wire market. Such initiatives coupled with recovery in the application industries will increase the demand for steel wire in APAC and European region.

The key players in the steel wire market include ArcelorMittal (Luxembourg), Nippon Steel (Japan), JFE Steel Corporation (Japan), TATA Steel Limited (India) and Kobe Steel, Ltd. (Japan), are some of the key players in the steel wire market. JSW Steel Ltd. (India), Bekaert SA (Belgium), The Heico Companies (United States), Ferrier Nord (Italy) and Byelorussian Steel Works (Belarus), and among others. These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the steel wire market. These players have taken different organic and inorganic developmental strategies over the past five years.

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Maternity Innerwear Market Size Worth $9.23 Billion By 2027 | CAGR: 4.6%: Grand View Research, Inc.

January 15, 2021 Published by Roboticulized.com

The global maternity innerwear market size is anticipated to reach USD 9.23 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.6% from 2020 to 2027. The rising demand for nursing-friendly innerwear is a key factor favoring market growth. At a macro-level, rising disposable incomes and increasing demand for comfortable maternity wear continue to drive product sales across various distribution platforms.

Key suggestions from the report:

In terms of type, the maternity briefs segment accounted for the largest revenue share in 2019
North America is estimated to be the largest regional market over the forecast years. However, Asia Pacific is estimated to record the fastest CAGR from 2020 to 2027
Product innovation emerged as the key strategy deployed by the majority of market players to obtain a higher market share

Read 80 page research report with ToC on “Maternity Innerwear Market Size, Share & Trends Analysis Report By Type (Maternity Briefs, Maternity/Nursing Bras), Distribution Channel (Online, Offline), By Region (North America, Asia Pacific), And Segment Forecasts, 2020 – 2027″ at: https://www.grandviewresearch.com/industry-analysis/maternity-innerwear-market

The COVID-19 pandemic has negatively affected product sales worldwide on account of severe supply chain disruptions. However, online sales continue to favor market growth with numerous brands marketing their products on e-commerce websites. Specialist retailers operating in the market face intense competition from online/e-commerce retailers. The high costs associated with maintaining physical stores also limits their ability to compete with e-commerce retailers.

The maternity briefs product type segment led the global market in 2019 and is estimated to retain its position during the forecast period. Asia Pacific is expected to witness the fastest growth rate from 2020 to 2027 owing to increasing global fashion exposure in emerging countries such as China and India. Prominent brands are focusing on offering innovative product designs that feature skin-friendly/breathable fabrics.

In India, a slew of domestic brands has been putting pressure on international brands, which will support the regional market. The market is largely fragmented with both international and domestic manufacturers sharing the market space. Market participants focus on new product launches, mergers & acquisitions, and product innovation as their key strategies to gain a competitive edge.

Grand View Research has segmented the global maternity innerwear market on the basis of type, distribution channel, and region:

Maternity Innerwear Type Outlook (Revenue, USD Million, 2016 – 2027)
- Maternity/Nursing Bras
- Camisoles
- Shapewear
- Maternity Briefs
Maternity Innerwear Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
- Online
- Offline
Maternity Innerwear Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
  - U.S.
- Europe
  - Germany
  - U.K.
- Asia Pacific
  - China
  - India
- Central & South America
  - Brazil
- Middle East & Africa
  - South Africa

List of Key Players of Maternity Innerwear Market

Seraphine
FirstCry
H&M
Triumph International
Wacoal
Mamacouture
Hotmilk Lingerie
Adore Me, Inc. (Belabumbum)
Fresh Venturz LLP
CLOVIA

Find more research reports on Clothing, Footwear & Accessories Industry, by Grand View Research:

Maternity Wear Market – The global maternity wear market size was valued at USD 18.3 billion in 2018 and is anticipated to expand at a CAGR of 4.3% from 2019 to 2025.
Shapewear Market – The global shapewear market size was estimated at USD 2.26 billion in 2018 and is projected to expand at a CAGR of 7.7% from 2019 to 2025.
Waterproof Breathable Textiles Market – The global waterproof breathable textiles market size was estimated at USD 1.7 billion in 2019 and is expected to register a revenue-based CAGR of 5.7% over the forecast period.

Ontario’s household decision makers are now empowered with community level COVID-19 data monitoring

December 9, 2020 Published by Roboticulized.com

With the goal of filtering information for individual Ontarians about how COVID-19 is affecting their community, the talented team of physicians, epidemiologists, data scientists, engineers and designers who developed www.howsmyflattening.ca have released an updated version of the website at this critical juncture of the pandemic.

“As the COVID-19 crisis crests again, Ontarians need a clear view of the state of the pandemic in their communities. In this website redesign, we have filtered the most important information that citizens need to understand community risk and make decisions about their households and businesses.”

– Dr. Ben Fine, a physician-scientist with Trillium Health Partners, and one of the HowsMyFlattening project leads, spoke about the evolution of the website.

To make local COVID-19 monitoring easy, the website remembers Public Health Units (PHUs) of importance to each user – and can deliver the same data by email at 11am each morning.

The updated website has been divided into two modes: Personal Mode, a mobile-forward experience designed with household decision makers in mind, and Geek Mode, which operates like the original site with a vast amount of data analysis and visual dashboards for data junkies who crave it.

Featuring data organized by PHU, and broken down by Case Incidences per 100k people, the tables also include Rt value, percent positivity, the percentage of tests completed in less than 24 hours, and the total number of ICU beds that are occupied. An up or down arrow beside each figure shows if things are trending up or down over the previous seven days.

The website has some serious data intelligence behind it. Initially developed as an interactive visual dashboard to support decision-making in government and hospitals, the team realized that providing this resource to “the people of Ontario” was the next logical step.

“As a household decision maker, I now get a tailored view of regions of Ontario that matter to me and my family. As a scientist, I get to drill down deep into the data and trends in “Geek Mode”. It’s a win-win for me.”

– Morgan Lim, an assistant scientist with Trillium Health Partners who joined the project to help make HowsMyFlattening accessible for scientists and nonscientists alike.

#HowsMyFlattening is an open and transparent collaboration initiative that monitors Ontario’s response to the COVID-19 pandemic. Co-led by Professor Laura Rosella of the Dalla Lana School of Public Health (DLSPH) with Trillium Health Partners’ Dr. Ben Fine and IHPME Adjunct Professor and alumni Ali Vahit Esenoy. It is supported by several DLSPH and IHPME students and alumni as well as a team of volunteer physicians, data scientists, engineers and designers. The project is funded by the University of Toronto COVID-19 Action Initiative and donations from the public and organizations such as HIMSS Ontario.

SOURCE How’s My Flattening

CRU: Green ammonia: Pathways to successful project development and financing

December 5, 2020 Published by Roboticulized.com

Part one in a Fertilizer Emissions Insight series

Demand for more environmentally friendly fertilizers is rapidly increasing, amid growing environmental regulations, especially those aimed at emissions abatement.

The drive for a green recovery after Covid-19 has also served to generate unprecedented momentum behind hydrogen technologies as a tool for global decarbonisation. Both factors have led to a rapid escalation in the race to develop green ammonia projects. Green credentials alone will not be sufficient for all to achieve financing, and developers should develop a solid business case from the outset.

Demand for low carbon fertilizers is set to grow

The global population continues to grow, driving demand for fertilizers to support the agricultural productivity gains required to meet world crop demand. At the same time, however, there is increasing pressure from policymakers, investors and consumers to produce fertilizers in a more environmentally sustainable way. This is a particular challenge for nitrogen fertilizer producers, with the focus on carbon-intensive ammonia, the raw material for nitrogen fertilizers. Conventional “brown ammonia” (or grey ammonia) production, using fossil fuels (mostly gas) and steam methane reforming, is currently responsible for roughly 1% of world CO2 emissions, and over time producers face rising carbon pricing and broader market access issues if they fail to respond to these emerging expectations.

In response, the development of “green ammonia” production, using renewable energy and electrolysis to replace fossil fuels as the hydrogen source for carbon free ammonia, has been gaining traction. Over 2019 and 2020 the pipeline and scale of green ammonia projects has expanded rapidly, with recent announcements from Saudi Arabia, Europe, the US, and Australia, amongst others. At the same time, “blue ammonia” – the use of carbon capture and storage (CCS) and fossil fuels to produce low-carbon ammonia – is also expanding, albeit arguably to a lesser degree. Turquoise ammonia, involving the conversion of natural gas into carbon black and hydrogen via methane pyrolysis which can be carbon free where renewable energy is solely used is also more popular.

Cybersecurity strategies shift as Canadian businesses invest in digitization during COVID-19 pandemic

December 4, 2020 Published by Roboticulized.com

Most (97%) Canadian businesses (96% globally) say their cybersecurity strategies will shift as a result of the increased digitization during COVID-19 pandemic according to PwC Canada’s Digital Trust Insights report. PwC surveyed more than 3,000 business and technology executives around the world, including a significant number of Canadian respondents, who tell us what’s changing and what’s next in cybersecurity, privacy and resilience.

“Traditional approaches to cyber are struggling to keep up with the pace and scale of digitization and automation. And they’re slowing down business strategies and impacting both the top and bottom line. So it’s really not surprising that nearly all Canadian executives say their cybersecurity strategies will shift as a result of COVID-19.” says Saj Nair, Partner & National Leader for Cybersecurity, Privacy & Financial Crime, PwC Canada.

Rethink the cyber budget process
Almost half (56%) of the Canadian respondents (55% globally) expect to increase their cyber budgets, however only very few (34%) of Canadian executives (44% globally) are really confident their cyber budgets are being assigned and spent correctly. As organizations digitize, getting the most value out of every cyber dollar spent will become even more critical, not just because of our current economic climate, but also because every new digital process can become a vulnerability for cyber attack.

Level the playing field with attackers
Leading organizations are exploring innovative and advanced methods to protect their expanding digital ecosystems as increased adoption of cloud, automation and Internet of Things (IoT) systems can’t be protected with traditional IT Security methods. The top three cybersecurity approaches that Canadian organizations have implemented, and are currently realizing the most benefits from, are security orchestration and automation (19%), modern identity and access management (17%) and integrated cloud and network security (17%).

Build resilience for any scenario
Cybersecurity’s role now and into the future will be strengthening the resilience of their organizations. Almost half (57%) of Canadian executives (40% globally) plan to increase resilience testing to make sure, if a disruptive cyber event occurs, their critical business functions will stay up and running.

Talent: Future-proof the security team
In the next year, 42% of Canadian respondents plan to add full-time cybersecurity personnel to their organization. Many recognize the challenges in attracting and retaining good cyber talent, and so not surprisingly an overwhelming majority (94%) of Canadian respondents (93% globally) use or plan to use managed services.

Digital Resilience Centre
To further enable their clients on their digital trust journey, PwC Canada has opened its first Digital Resilience Centre in Vaughan, Canada. The Centre provides an end-to-end digital trust framework to help organizations innovate, experience, and operate across the threat management lifecycle. The Centre helps organizations unify their defences against digital threats by bringing together thought leadership and capabilities across cybersecurity, privacy, anti-fraud, anti-money laundering, physical security and safety. Within the Centre is the Digital Resilience Sandbox, an immersive lab where clients can see, touch and experience the latest technologies, such as industrial systems, robotics, IoT, artificial intelligence (AI), cloud and mixed reality, and simulate offensive and defensive tactics on them. Clients can experience what an adverse event on their digital ecosystem would look like and test various methods to prevent, detect and react to these threats. Other similar centres exist in Israel, India and the US.

Industry Roundtable: COVID-19 Accelerated Healthcare Innovation But True Promise of AI Has Not Yet Been Realized

December 2, 2020 Published by Roboticulized.com

Pieces, a healthcare AI company, recently convened an industry roundtable about the current state of AI and what the future will look like as healthcare leaders cite that they will continue to invest in the technology in 2021. The roundtable participants shared their perspectives on what has been achieved, as well as where more strategic innovation is needed for AI to better serve physicians and patients.

The roundtable participants included:

Ruben Amarasingham, MD, Founder and CEO, Pieces
Sarah de Ramirez, MD, MPH, MSc, VP, Chief Medical Officer Clinical Innovation, OSF HealthCare
Sandeep S. Vijan, MD, FACS, CPE, Chief Medical Officer, Parkview Medical Center
Garrett Vygantas, MD, Managing Director, Venture Group, OSF Innovation
Mark Ziemianski, Senior Vice President and Chief Data Officer, Children’s Health

“In 2020, AI has continued to evolve in its applications to the front lines of healthcare – perhaps accelerated by the dire clinical circumstances worldwide,” said Amarasingham. “But as these roundtable discussions revealed, AI can achieve more – and help more. We hope the insights from this roundtable discussion will be useful to healthcare systems, clinical providers, and innovators who are developing their own AI strategy.”

Key takeaways from the roundtable included:

AI helped to democratize access to COVID-19 care : “During the pandemic, natural language processing (NLP), automated patient screening, and digital care navigation really helped to democratize access to care in ways we couldn’t have done in the past,” said de Ramirez. “We had chatbots before but they were clunky and uninformed. During COVID-19, we really saw them take off for patient screening and optimization of care utilization. OSF HealthCare was able to use conversational platforms for specific AI use cases during COVID-19, and then loop clinicians in as appropriate, which is a theme I think we will continue to see.”
AI was an important accelerant for vaccine and therapeutics developers: “The rapid genetic and phenotypic characterization of COVID-19 early in the pandemic gave a starting point for vaccine and therapeutics developers to use algorithms in their development work,” said Vygantas. “The diagnostics field benefitted from the application of AI and computer vision to improve the performance of the COVID-19 test, including improving the performance of the first at-home, rapid antigen test, which is now under Emergency Use Authorization (EUA) review.”
COVID-19 was a catalyst for rapid innovation in AI – but we must also recognize areas where AI could have done more to help combat the pandemic: “In 2020, AI and machine learning allowed us to make fine-tuned predictions of patient risks who have COVID-19,” said Amarasingham. “It’s hard to know exactly where AI has fallen short but I have wondered whether AI-infused tools could have been better deployed to combat misinformation and increase patient education and awareness.”
AI can do more for physicians in 2021 and beyond by taking insights further – and working within existing workflows: “AI can better support physicians by helping us see what is not always obvious,” said Vijan. “For example, can it reveal which patient is most likely to respond to a given intervention? Similarly, can it uncover how we can tailor an intervention based on a patient’s risk profile? This is important because it takes 15 years for peer-reviewed science to make it into everyday clinical practice but AI can accelerate that integration.”
“If AI is not reducing the stress or complexity of the workflow, it is either not working, not optimized or not useful,” said Amarasingham. “Everything in healthcare delivery touches some sort of workflow, including patient activities. Therefore, it is through workflows that AI can help improve some of the most critical outcomes, reduce costs and enhance clinical accuracy.”
AI can help transform healthcare but ongoing innovation requires understanding both its promise and its limitations: According to Ziemianski, “We must stay true to the foundational premise of AI: if you cannot accurately measure an outcome then you can’t possibly wrap AI around it.” He stresses that it is critical not to develop AI in a vacuum. “We must work with subject matter experts to ensure they know what question we are asking and why – and we must be upfront about shortcomings of AI before implementing a solution. Most importantly, we must prevent the use of AI to provide a bad result but faster. That is not the role of AI,” he said.
This year’s innovation has laid the groundwork for AI to grow and thrive – but more action is needed to ensure continued progress: “2020 has really been all about COVID-19, and building public health and medical systems to be more proactive, in the face of communicable diseases,” said de Ramirez. “Now, our job is to translate these efforts into useful lessons across disease types, both from a precision medicine and precision prevention aspect.”

Most importantly, the roundtable participants agree that the time is now for AI to advance and make a difference in the real-world. “Data is great, but creating workflow around the data is equally important,” said Vijan. “AI companies must not only show what their software can do, but also must help hospitals build the human workflow around the data to deliver real results.”

To download the full roundtable report, please visit the Pieces website.

Role of Manufacturing CFO 4.0 Indispensable as Industry Accelerates Digital Transformation Efforts

November 28, 2020 Published by Roboticulized.com

SYSPRO has today announced new research, which reveals that the role of CFO 4.0 within the manufacturing sector will be crucial as the industry shifts towards increased digital transformation in the ‘new normal’. The study, which was conducted in October 2020 and led by SYSPRO, assessed the sentiment amongst senior level Chief Financial Officers within manufacturing sectors across the US, Canada, Africa and Asia Pacific (including Australia).

Key findings outlined in the SYSPRO 2020 Manufacturing CFO 4.0 Survey Report include the return of business confidence, the rise a more robust role for the CFO within an increasingly digitised manufacturing sector and the acceleration of Industry 4.0 as a means to overcome future disruptions.

The Imminent Return of Business Confidence

When asked about how their business had fared during the pandemic, 47% of businesses indicated that their enterprise had fared well. This pattern was particularly pronounced in the Asia Pacific region, where 75% of respondents gave an answer of between three and five in terms of how they had fared during the pandemic.

The ability for businesses to weather the COVID-19 storm was particularly prevalent amongst manufacturers involved in the production/distribution of essential goods such as Food & Beverage (25%) during lockdowns as well as those who has the ability to augment their existing digital activities and adapt to ecommerce models.

Drilling down further into the data, size of an organisation also played a vital role in determining its ability to survive the pandemic. Companies with 51+ employees were significantly more likely to report having fared as well as, or better than, expected.

The levels of optimism uncovered by our survey suggest that CFOs – who are increasingly responsible for risk management in their organisations, now see COVID-19 as manageable in a business context, rather than terminal.

The report also indicated an overall return of business confidence, where almost 50 percent of businesses have already recovered or expect to do so by the end of 2020. A further 30 percent expected to return to pre-pandemic trading conditions by the end of Q2 2021.

CFOs in Manufacturing to Play a Vital Role in Recuperation

The study revealed that CFOs will be instrumental in engineering the bounce-back. When asked how they plan to boost their business in the upturn, almost 83 percent of businesses identified cost-cutting including the curbing discretionary spending and reducing overheads as a strategy. Over 70 percent of businesses also indicated that they would be exploring new revenue models with the aim for increased customer engagement through digital channels.

When asked about their immediate priorities for 2021, 70 percent indicated that they would prioritise the maintenance of margins and 67 percent identified the need to manage cashflow, both traditional CFO functions.

Surprisingly; however, the study also revealed that in addition to playing a traditional function, CFOs will also be expected to make informed technology investment decisions as a way of ensuring the interconnectedness of all aspects of manufacturing operations, as well as leveraging Business Intelligence to acquire and assess data that can then be used as the basis for strategic decisions.

The Acceleration of Industry 4.0

While Industry 4.0 has been around for a number of years, the expanded scope of the CFO role will contribute to the acceleration of digital transformation. When asked about areas of technological investment, only 19.3 percent of respondents confirmed that they would replace ageing machinery in 2021. Rather, the emphasis is on investing in technology to make manufacturing smarter and less vulnerable to future disruptions.

In fact, over 52 percent of businesses identified the investment in enterprise technology such as ERP, BI and CRM as a key strategic focus area. The goal here is better clarity and transparency of information across the business to enable enhanced decision-making in real-time. According to Sanjay Galal, CFO, SYSPRO Asia Pacific, “Enterprise Resource Planning and Business Intelligence were identified as vital, thanks to their information-gathering, processing and analysis capabilities. In uncertain trading conditions, better, more accurate and more timeous data allows for smarter decision making, as well as supporting strategic decisions through trend identification and assessment.”

The study goes on to reveal that 44% of respondents singled out warehouse and advanced manufacturing process automation as a key focus area. This is to some extent a decision that has been imposed on manufacturing concerns by the pandemic, but it also suggests a longer-term outlook in which many current human roles will be replaced in the name of both efficiency and safety.

“The challenge for the CFO 4.0 will be to continue to deliver financial leadership whilst also focusing on more strategic and operational aspects. In preparing for the role of CFO 4.0, businesses need to embrace technology, empower people through upskilling initiatives and have a clear business case for Industry 4.0.” concludes Sanjay.

North Summit Capital CEO: Digital Transformation Is the ‘New Normal’ for Traditional Sectors

November 19, 2020 Published by Roboticulized.com

The new normal for the technology world is digital transformation, which gives us a chance to “rejuvenate” traditional industries, through which the real business pain points are solved and real values are created, said Dr. Min Wanli, founder and CEO of North Summit Capital, during an online venture capital event on Tuesday, November 17, 2020.

Speaking at the 33rd Annual AVCJ Private Equity & Venture Forum, one of the premier private equity and venture capital events in Asia, Dr. Min, a leading expert in industrial intelligence and business innovations in China, shared his thoughts on new trends beyond the COVID-19 pandemic and delivered a keynote speech titled “Parachuting Technology to Value Ground of Evergreen Industries”.

“(COVID-19 pandemic) is not a crisis, but rather a window of opportunities for all traditional industries, today we have to embrace digital transformations and the latest digital technologies,” he said.

Dr. Min went on to share how the application of big data, AI and other digital technologies help very traditional industries, such as manufacturing and agriculture, to create new values.

One of the cases he revealed publicly in detail for the first time is to help Mengniu Dairy, one of the biggest manufacturing and distribution company of dairy products in China, save hundreds of millions of Chinese yuan of distribution costs.

He said in the old days, the company had the raw milk produced and delivered to their production line on a daily basis with a fixed schedule, while their advanced planning and scheduling, or APS, is highly dynamic, which means very often, the company have the last-minute modification of the production plan. As a result, raw milk is often oversupplied and has to be dumped.

“Now imagine you have all these 3 data set together – the production of raw milk, the delivery of raw milk, and the production line scheduling, together in sync, in real time, which is able to help the customer to reduce the wastage of the raw milk at the production site.

“The result is very straightforward – 9% reduction in the distribution cost, which translates to around one hundred million Chinese yuan per year,” said Dr. Min.

Another case he shared is when he served as chief scientist in Alibaba Cloud, also known as Aliyun, a leading Chinese cloud computing company which is a subsidiary of Alibaba Group, he led the team to utilize the traffic data collected by Hangzhou city, and make traffic signal “predict” and show green lights to ambulances.

As a result, they were able to reduce the travel time of the ambulance by half. “The 50% reduction of travel time could be a difference of life versus death,” he said.

“These sectors and reference cases have something in common,” Dr. Min explained. “They are data intensive, and capital intensive. They have a lot of data already accumulated, and then we just deploy our solutions, our capabilities together to turn that data reserve to value generators.”

Dr. Min said he had led his team to deliver about 100 reference cases covering 8 industries.

“Through the experience I had the opportunity to project how the big data add values to the smart city, the smart manufacturing and agriculture. So one year ago, I found North Summit Capital with a mission of advancing technology for social good,” he said.

“As long as we have technology, we have to show the value creation in the context of the industries,” he added.

This year, the AVCJ event was held hybird due to the pandemic and was joined by more than 1,500 general partners, limited partners and high-end industry players globally.

Other keynote speakers include Kok Yew Tang, founding chairman and managing partner of Affinity Equity Partners; Steve Moseley, deputy CIO and head of Private Markets and Alternative Investments for the US$65 billion Alaska Permanent Fund, an endowment formed in 1980 to provide for all current and future generations of Alaskans; and so on.

IBM Study: Majority of Global Consumers Embrace e-Commerce, Sustainability for the Holidays Amid COVID-19

November 17, 2020 Published by Roboticulized.com

While the holiday shopping season will be different in many ways due to the COVID-19 pandemic, sustainability is still top of mind for many global consumers, according to the latest findings of a global IBM (NYSE: IBM) Institute for Business Value study.

54% of global consumers surveyed reported they are willing to change their holiday purchasing habits to help reduce environmental impact. This perspective was even more prevalent in some countries around the world, notably India (74%), Mexico (74%) and Brazil (66%). That is only slightly fewer than the 57% who reported similarly in a January 2020 IBM/NRF study of almost 19,000 consumers.

Despite the disruption to many consumers’ budgets and employment caused by COVID-19, shoppers are looking for more than just a good deal. 44% of consumers surveyed reported they will be considering sustainability to a great extent when shopping or choosing a brand this year.

The study “Home for the Holidays” includes insights from more than 12,500 consumers in October across Brazil, Canada, Germany, India, Mexico, Spain, the United Kingdom and the United States. It revealed how consumer outlook and shopping, travel and vacation plans are shifting globally amid COVID-19.

“The research shows more consumers have started their holiday shopping earlier than in prior years, and many plan to shop online instead of in-store given rising cases of COVID-19. While last year 60% of shopping was done in-store and almost 30% online, this year those numbers may be nearly reversed,” said Jesus Mantas, senior managing partner, IBM Services. “Businesses should be prepared to provide a personalized digital-first platform to engage customers, and use technologies such as Cloud and Artificial Intelligence to help them handle fluctuations in demand, manage their supply chains in near real time, and create a better experience to serve holiday shoppers’ needs.”

Online shopping will continue to reign supreme

IBM’s latest holiday forecast is projecting a 1.8% increase in November-December retail sales compared to 2019. And IBV survey research suggests 2020 will be a digital-first shopping holiday season.

More than 60% of global consumers surveyed indicated that they plan to buy online, ship to home or other destinations, or buy online and pick-up in-store or curbside, with the highest growth in usage for buy online, ship to home or other destinations among Baby Boomers (ages 55-70+) — +116% compared to last year. According to the report, while 62% of consumers surveyed shopped in-store last year for the holidays, only 28% plan to do so this year.

When choosing gifts, consumers surveyed reported they are leaning towards products over experiences. Many survey respondents said they will spend more on digital/streaming entertainment (+39% over last year), furniture (+33% over last year), electronic goods (+13% over last year) and toys and games (+9% over last year).

Consumer concerns about the COVID-19 pandemic will impact travel and vacation plans

Concerns about the COVID-19 pandemic remain high, according to the study. In the US, 72% of consumers surveyed are concerned about a second wave of COVID-19 in 2020 (65% in September), and 74% say the COVID-19 pandemic has made them more concerned about the health and safety of their family (67% in September).

With these concerns top of mind, many consumers report changes to their typical travel and time off plans this holiday season.

Over half of consumers surveyed who usually travel during the holidays say they plan to travel less this season, and 22% surveyed are still undecided about their plans
67% of consumers surveyed who will travel indicate they will use a personal car or rental car as their primary method of transportation.
Surveyed employees report they have taken slightly more days off this year than they did by this time last year, and indicated COVID-19 was a major reason for taking time off this year, including caring for family and self.
Globally, a third of employees surveyed reported they face work constraints that limit their ability to take their remaining paid time off this year – either too much work or schedule restrictions at work – indicating employers could play a role in easing employee burnout.

New Study Reveals the Struggles that Many Businesses Face in Getting Paid During the COVID-19 Pandemic

November 17, 2020 Published by TheFintechBuzz.com

96% of businesses have had outstanding payments for 10+ days over the last year, according to a new Forrester Consulting study¹ commissioned by GoCardless, a leading fintech for recurring payments. The study, ‘Rethink Your Payment Strategy To Save Your Customers And Bottom Line’, examines how companies can use recurring payments² solutions to boost their payments strategy, shorten DSO (Days Sales Outstanding), and protect their bottom line.

Forrester surveyed 700 payment decision-makers in organisations that serve a mix of businesses and consumers, or business customers only. The results highlight the extent to which lengthy DSOs and failed payments can impact customer churn and bad debt.

The study found that having a high DSO is a key operational challenge for many businesses. While only 4% of businesses have a DSO of less than 10 days, the research shows four out of five businesses have wait times of 20-30 days to receive payments. In addition to this, almost half (47%) of businesses say that the time taken to collect their accounts receivables has increased in the last 12 months – this demonstrates the struggle for many businesses to get paid in the current challenging environment of COVID-19.

Another key finding is that failed payments continue to impact customer churn. In the UK, on average, failed payments result in churn 11%-15% of the time. A Forrester Consulting study found that 50% of firms experienced payment failures for 7% or more of their payments in the last 12 months, and two in three businesses surveyed are seeing failed payments turn into churn more than 10% of the time. This can negatively impact customer relationships, with over half (54%) of decision-makers surveyed saying that payment failures lead to an increase in customer dissatisfaction.

Payment failures are also costly and labour-intensive for businesses to collect, with the average B2B business spending 16%-20% of the payment value to recover it. Half (51%) of the businesses surveyed said that failed payments led to an increased cost of recovery, while 45% of businesses say that payment failures turn into bad debt.

Hiroki Takeuchi, CEO, GoCardless said: “Forrester consulting findings demonstrate exactly why payments are high leverage. There are clear connections between failed payments and negative business impacts such as bad debt, churn and customer dissatisfaction. In this environment in particular, firms recognise the importance of recurring payment solutions that optimise their payment strategy and prevent failure, to avoid increased costs and damaging customer relationships. That’s why we developed Success+, which helps businesses efficiently recover an average of 76% of failed payments.”

Further findings include:

86% of enterprise companies have more than 20 full-time employees to handle recurring payments, primarily relying on CRM, billing, and accounting systems
59% of businesses say that higher churn rates result in increased chargeback rates, whilst 57% of businesses say that higher churn rates result in an increase in customer service contact
On average, B2B businesses spend 16%-20% of the payment value to recover the payment. If a business has $100m in annual revenue, with a 7% payment failure rate, and it costs 16% of that value to attempt to recover, that’s >$1m.

Tag: COVID-19