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Innovation News
Pymnts
7h
331
Image Credit: Pymnts
No Coding Required: AI Prompts Create Custom Software
- A new wave of AI tools is allowing non-technical employees to create custom software by describing their needs.
- Tech startup Agemo offers AI tools that enable faster deployment times and lower costs.
- AI-powered software development tools like Agemo's reshape coding and project management, automating tasks and speeding up development cycles.
- The rise of AI-powered software development raises concerns about security and system reliability.
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19 Likes
Pymnts
10h
157
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AI Writing Tools Aim to Reshape How Companies Sell Online
- AI writing platform Writer raised $200 million in funding, valuing the company at $1.9 billion.
- AI tools are reshaping online commerce by enabling businesses to generate tailored content quickly.
- Companies like Writer, Grammarly Business, and Jasper AI offer AI solutions for efficient content creation and management.
- While AI tools improve efficiency, concerns arise about potential decline in essential writing skills and the need for human oversight.
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9 Likes
Silicon
13h
152
Image Credit: Silicon
Apple To Launch AI Wall ‘Tablet’ – Report
- Apple is reportedly developing a new AI display for smart home control.
- The display, codenamed J490, will feature Siri smart assistant and Apple Intelligence AI platform.
- It will interface with HomeKit-compatible devices and have sensors to detect user proximity.
- Apple is expected to announce the device in March 2025.
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9 Likes
TechBullion
1d
259
Image Credit: TechBullion
Shaping the Future of Beauty Tech: An Interview with Perfect Corp. CEO Alice Chang on Innovation, Growth, and AI-Driven Transformation.
- Alice Chang, CEO of Perfect Corp, discussed the growth trajectory of the company in a TechBullion interview.
- Perfect Corp is a global leader with innovative solutions like YouCam apps and AI-powered virtual try-ons for makeup and skincare.
- The company serves over 700 beauty and fashion brands worldwide, leveraging cutting-edge AI technologies to enhance online shopping experiences.
- Chang highlighted the strategic investments in AI development and potential M&A opportunities aimed at sustaining momentum in a rapidly evolving market.
- Perfect Corp’s focus on skincare diagnostics and GenAI features has helped expand its market footprint while driving sustainability through digital innovations.
- The company is committed to investing in AI technology development to enhance its core capabilities.
- Perfect Corp's software leads the way in creating innovative GenAI solutions that improve user experience and streamline operations in the beauty and fashion industries.
- The company continues to invest in sales and marketing initiatives for growth and research and development to drive its expansion over the next few years.
- Perfect Corp is well-positioned to meet its customers’ evolving needs and seize emerging opportunities in the beauty and fashion landscape.
- Through its eco-friendly digital solutions, Perfect Corp provides a unique and engaging shopping experience while eliminating the need for physical product samples, helping to preserve the planet’s resources.
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15 Likes
Gizchina
1d
134
Image Credit: Gizchina
Tecno New Universal Tone Tech – An Interview With Fanyi Zhou, Image Quality Director
- Tecno, part of China's Transsion Holdings, has a large presence in emerging markets in Africa, Southeast Asia and Latin America, and holds around 4% of the global smartphone market.
- The brand offers a wide range of products, from budget-friendly phones to the premium Phantom series and a new foldable phone, the Phantom V Fold.
- In an interview with Fanyi Zhou, Tecno's Director of Image Quality Testing, the brand's Universal Tone technology was discussed, which aims to cater for diverse skin tones in emerging markets.
- Universal Tone technology was created to accurately represent the colour and texture of every skin tone in smartphone photography. This arose because of a common complaint among users about the inability of existing technologies to accurately capture their diverse skin tones.
- Universal Tone's approach incorporates a comprehensive skin tone database, AI-driven algorithms and regional insights, and is targeted at meeting local needs and overcoming biases in the technology industry.
- Tecno has partnered with academic institutions like the University of Leeds and NTU Singapore for the development of Universal Tone technology.
- Tecno's Universal Tone technology has the potential to significantly influence the broader smartphone industry by promoting social change, driving innovation and setting new standards for inclusivity.
- Tecno's commitment to technological advancements while keeping affordability in mind, combined with their 'glocalization' approach, has allowed them to cater to the unique needs of global consumers.
- The Universal Tone technology sets a new benchmark for skin tone representation in mobile photography, challenging traditional imaging biases and offering a more accurate, culturally sensitive portrayal of skin tones.
- Tecno's products, innovations and dedication to inclusivity make it a brand that understands and addresses the unique needs of emerging markets globally.
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8 Likes
Medium
10h
111
Image Credit: Medium
Penny Wise-Efficiency With Every Cent
- Penny Wise is aiming to educate and empower young adults in Africa to take control of their financial future.
- It addresses the gap in financial literacy in many parts of the continent and provides tools and knowledge to build sustainable financial habits.
- Penny Wise goes beyond basic budgeting and aims to provide interactive and personalized financial education.
- It tailors its offerings to young adults in Africa, addressing their specific challenges and financial behaviors.
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6 Likes
Hackernoon
13h
126
Image Credit: Hackernoon
Tech Innovation and Cross-Industry Impact: Syed Aamir Aarfi on AI/ML Integration
- Emerging technologies like AI and machine learning are being integrated into established industries such as e-commerce, supply chain and SaaS applications.
- Syed Aamir Aarfi is a seasoned Senior Product Manager with vast experience in technical product leadership across different industries including AI and ML landscape.
- A pragmatic approach is key to successful AI/ML adoption; it requires determining whether an AI/ML solution provides exponential value over alternative approaches. Aarfi stresses the importance of identifying areas within sectors where AI/ML has the highest impact and fostering a culture of experimentation and learning.
- Aarfi integrates a robust quantitative analysis for his product strategies to ensure no aspect of customer feedback is overlooked. Aarfi employs an iterative process of design partnerships, rapid prototypes, data science experiments, and continuous validation cycles to refine solutions that go beyond functionality.
- Introducing AI and ML into sectors like supply chain and e-commerce presents unique challenges that Aarfi has strategically navigated.
- Aarfi’s approach to leading cross-functional teams is centered on three core principles; collaborative vision vetting, customer-centric approach, and iterative, agile process.
- Generative AI and multimodal learning are the future of SaaS, e-commerce and supply chain industries, according to Aarfi.
- Aarfi's impactful work across industries like e-commerce, supply chain, travel, and SaaS underscores his role as a tech innovator.
- His forward-thinking contributions provide a model for industries adapting to fast-paced technological change.
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7 Likes
Silicon
16h
172
Image Credit: Silicon
Waymo Opens Ride-Hailing Services In Los Angeles
- Alphabet's Waymo has expanded its driverless robotaxi service, Waymo One, to Los Angeles.
- Waymo began offering limited commercial operations in LA in March 2024.
- The service area now covers nearly 80 sq miles in LA County.
- Waymo aims to continue expanding its service area in the city.
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10 Likes
Medium
17h
309
Beyond the Hype: Practical Uses of AI in Business You Should Know About
- AI in predictive analytics helps businesses forecast future outcomes and make informed decisions.
- AI streamlines the supply chain by enhancing demand forecasting and automating logistics.
- AI plays a pivotal role in marketing by delivering personalized customer experiences.
- AI is used in manufacturing for quality control and defect detection.
- AI revolutionizes human resources by improving hiring processes and employee management.
- AI-powered cybersecurity systems detect and respond to cyber threats in real-time.
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18 Likes
Medium
1d
344
Future of AI in the Job Market: Skills to Learn Now for Tomorrow
- AI technologies are becoming integral to various sectors such as finance, healthcare, manufacturing, and retail.
- Top emerging job roles include AI specialists, data scientists, ethics and policy professionals, and AI-driven product managers.
- Skills in Python, data modeling, algorithms, data analysis tools like SQL and R, and AI fundamentals are in high demand.
- Continuous learning, adaptability, ethical considerations, and communication skills are essential for success in the AI job market.
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20 Likes
Medium
1d
26
Image Credit: Medium
S. Yash Kalash: On Preparing ASEAN for the Next Tech Wave
- The Digital Economy Framework Agreement (DEFA) of ASEAN aims to integrate and enhance the digital economies of member states.
- DEFA focuses on harmonizing digital policies, reducing trade barriers, and developing digital skills.
- The agreement promotes AI adoption by fostering a conducive environment, streamlining data flows, and supporting innovation.
- Challenges for ASEAN include the digital divide, skills gap, and ethical and regulatory concerns.
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1 Like
Medium
1d
192
Image Credit: Medium
Know Your Acquirors
- InSound founders Adnan Shennib and Robert Schindler built the world's first invisible hearing aid Lyric, which addressed the adoption-limiting perception of hearing-impaired patients as old or infirm.
- The company raised capital from angel investors, scaling valuations with each round, even when pushback may have been warranted, and struggled to access subsequent institutional financings that were costly and overly dilutive.
- The venture capital syndicate led by Psilos Ventures, CMEA, De Novo Ventures and Johnson & Johnson’s venture arm predicted an opportunity to disrupt the hearing industry and an exit strategy via the sale to a strategic buyer.
- The company's CEO bring-in David Thrower overcame product performance challenges and led the company to a successful product launch, after which it had a $10m annual revenue run rate.
- In 2009, the board advised Thrower to launch a process to sell the company, and the investment banking firm Gravitas Healthcare was hired to assist.
- Phonak and Oticon, two industry leaders, expressed serious interest, but the lack of a bidding frenzy allowed Phonak to offer a price that was a fraction of what would end up as the final transaction price.
- InSound realised the complexity of the deal documents meant that they knew little about their buyer. This lack of understanding later meant that, for example, InSound lost control over its earnout, meaning they could not reap the full share of the rewards for their successful product, Lyric.
- In retrospect, InSound failed to understand its potential buyers well enough.
- A growth company’s leadership, executives and board must think about exit partners early and often, and investors must determine if the entrepreneur knows the potential buyers well, as knowing potential buyers is critical for a successful financial return.
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11 Likes
Medium
1d
99
Image Credit: Medium
Know Your Acquirers
- InSound Medical, the manufacturer of Lyric, the world’s first invisible hearing aid, was sold prematurely by its VCs before gaining maximum value from its innovative product, according to Joe Mandato, former leader of medtech companies and author in MedCity News.
- In a rush to earn a significant return on their investment, InSound’s VCs weren't aware of the strategic value and potential of Lyric; the 40% of the market dissatisfied with traditional hearing aids, says Mandato.
- InSound’s founders and early investors didn't have sufficient skin in the game to question the VC’s decision to sell; product performance issues, ineffective sales strategies, high costs, and insufficient capital investment, turned it from a promising start-up into a struggling company, says Mandato.
- InSound’s acquisition by Phonak, at a fraction of its eventual value, was due in part to the hearing aid industry's general lack of emphasis on marketing and product advancement, causing the two leading acquirers to see InSound as low-cost with interesting IP rather than disruptive technology with significant strategic value.
- InSound’s earnout, based on meeting ambitious revenue and growth goals, was scuppered when Phonak purchased a majority interest in the hearing aid chain that was anticipated to make the largest one-time product purchase.
- InSound and Phonak’s management teams had significant culture clash, which led to protracted and difficult discussions to resolve the earnout issue, says Mandato.
- In the end, InSound sacrificed its right to control its earnout and accepted an immediate cash payment from Phonak, which concluded with a 2.5x return for its investors on their initially invested capital.
- Mandato suggests that leadership teams should think carefully and early on about potential exit partners, understanding how their product fits into their culture for successful exits.
- Investors need to gain an understanding of entrepreneurs’ understanding of potential buyers to realise full benefits, Mandato explains.
- In spite of InSound's story being extreme, it highlights the importance of knowing your buyers, remembering the strategic value of products and the significance of establishing carefully selected and suitable acquirers.
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6 Likes
Global Fintech Series
1d
230
Image Credit: Global Fintech Series
Valor PayTech Appoints Sundar Garg as President of Asia
- Valor PayTech has appointed Sundar Garg as the President of Asia.
- In his new role, Sundar will oversee Valor's strategic growth initiatives in Asia.
- Sundar aims to expand Valor's presence in the region and deliver tailored payment solutions.
- Before joining Valor, Sundar led SysArc Infomatix in the Indian lending automation sector.
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13 Likes
Medium
1d
296
Image Credit: Medium
The Need for Climate-Resilient Infrastructure
- The economic and social costs of climate-related disasters are high, emphasizing the need for climate-resilient infrastructure.
- Digital transformation, along with Green Molecule™ technologies, offers a promising solution to build resilient infrastructure.
- Integrating low-carbon technologies like Renewable Natural Gas (RNG), hydrogen, and biomass supports sustainable and decentralized energy solutions.
- Digital technologies such as predictive analytics, artificial intelligence (AI), machine learning, and the Internet of Things (IoT) enhance infrastructure resilience by enabling accurate monitoring, predictive resource management, and automated responses to climate events.
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17 Likes
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