• Only 9% of respondents say they are satisfied with the in-store shopping experience; only 14% say the same for online shopping.

• Roughly 80% of consumers surveyed who haven’t used AI for shopping expressed an interest in using the technology for various aspects of their shopping journey.

As the retail landscape faces mounting pressure from evolving consumer expectations and economic headwinds, a new global study from the IBM Institute for Business Value, reveals a widening gap between shopper demands and the current retail offering.

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The third biennial consumer study*, “Revolutionize retail with AI everywhere: Customers won’t wait,” surveyed nearly 20,000 global consumers and reveals a dissatisfaction with retail experiences, with only 9% of consumers surveyed saying they are content with in-store and 14% content with online shopping.  Yet technology could play an important role in enhancing the overall shopping experience, with over half of the respondents indicating they are eager for AI enhancements like virtual assistants (55%) and AI applications (59%) as they shop. Influenced by inflation, six in ten consumers surveyed also say inflation has impacted how they shop, with 62% saying that price is a top reason they switch stores or brands.

“In the face of rapidly shifting consumer expectations and the stark realities of today’s economic picture for households, the retail sector is presented with an ongoing challenge—and an unprecedented opportunity,” said Luq Niazi, Global Managing Director at IBM. “We are seeing that today’s consumers, faced with more choices and channels than ever, are increasingly making their purchasing decisions based on the cost and the quality of experiences that retailers provide. The IBM IBV Consumer 2024 Study underscores an opportunity for retailers to integrate AI and other technologies into both digital and physical shopping experiences to meet these changing consumer demands and their economic challenges. Leveraging advances in AI technologies, retailers can forge ahead into a new era of commerce and fulfilment, leading with innovation to create shopping experiences that are intuitive, unified, personalized and efficient.”

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Noteworthy findings from the study include:

• In-Store Experience Lacks Luster: Despite a preference for physical stores by 73% of those surveyed, only 9% are satisfied with the in-store experience. Consumers surveyed want greater variety of products available (37%), more information about products (26%), and faster checkout (26%) in stores. Most consumers surveyed (65%) are supplementing their in-store experience by using mobile apps while shopping — demonstrating a trend toward a digitally integrated in-store experience.
• Online Shopping Shortcomings: Online retail isn’t immune to criticism; two-thirds of consumers surveyed discover new products via the web, yet many have expressed dissatisfaction with their online shopping journey, citing challenges finding the products they want (36%), not enough information about products (33%), and a cumbersome return process (33%).
• Consumers Desire Digital Integration: Consumers surveyed showed a strong interest in using AI technology to enhance various aspects of their shopping. Most consumers (59%) said they would like to use AI applications as they shop and 4 in 5 consumers who haven’t used the technology for shopping reported an interest in trying it. Personalization and targeted offerings are in demand, with 52% of consumers surveyed interested in receiving information, advertisements, and offerings from stores that are relevant to their specific interests. Yet there remains a stark satisfaction gap for current AI assistant users surveyed. Only about one-third of responding consumers who have used virtual assistants are satisfied with the experience and nearly 20% were so disappointed that they don’t want to use virtual assistants again, signaling a mismatch between current tech offerings and shopper expectations.
• Economic Forces at Play: Economic challenges, particularly inflation, are influencing shopping behaviors. Consumers surveyed are seeking flexible payment options, with 55% desiring more varied payment options and 46% reporting they would like to pay for their purchase in installments. As inflation and economic uncertainty pinch pocketbooks, 62% of consumers surveyed also say price is a top reason they would switch stores or brands.

Revolutionize retail with AI everywhere: Customers won’t wait underscores the urgent need for retailers to innovate and integrate advanced technologies, such as AI, to elevate the shopping experience. The study also serves as a resource for retailers, outlining actionable strategies to help these businesses meet changing consumer demands.

Connect with IBM at NRF 2024: Generative AI is taking center stage for IBM at NRF’24. Join us as we delve into how the technology is enhancing everything from customer engagement and personalization to operational efficiency. We’ll share innovative examples in marketing, supply chain management, and sustainability. IBM industry experts will be at Booth #5006. Stay updated via our NRF webpage. #NRF2024

*Study Methodology:
The IBM Institute for Business Value surveyed 20,000 consumers across 26 countries on their digital habits, their use of AI and generative AI, and their expectations for brands. Responses were analyzed by age group, income and purchasing habits across product categories.

The IBM Institute for Business Value, IBM’s thought leadership think tank, combines global research and performance data with expertise from industry thinkers and leading academics to deliver insights that make business leaders smarter. For more world-class thought leadership,

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• The anticipated acquisition aligns to GE HealthCare’s precision care strategy with the goal of strengthening the company’s digital solutions across care pathways

• MIM Software provides AI-enabled image analysis and workflow tools across multiple care areas, including oncology, urology, neurology, and cardiology

• Today’s agreement reinforces GE HealthCare’s commitment to integrate medical imaging products in order to deliver more precise, connected and efficient care across disease states

GE HealthCare announced it has entered into an agreement to acquire MIM Software, a global provider of medical imaging analysis and artificial intelligence (AI) solutions for the practice of radiation oncology, molecular radiotherapy, diagnostic imaging, and urology at imaging centers, hospitals, specialty clinics, and research organizations worldwide. GE HealthCare expects to leverage MIM Software’s imaging analytics and digital workflow capabilities across various care areas to accelerate innovation and differentiate its solutions for the benefit of patients and healthcare systems around the world.

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“We are excited by the prospect of joining GE HealthCare and thrilled to share this exciting news”

Recognizing the industry transformation taking place as digital innovation reshapes the experience of patients and providers, GE HealthCare – a leading global medical technology, pharmaceutical diagnostics, and digital innovator – is focused on developing smart devices, aligned to disease states and enabled by digital. These efforts are reflected in the company’s mission to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier.

MIM Software’s portfolio of innovative imaging solutions provides a variety of beneficial features, including: the integration of diagnostic images from multiple modalities into treatment plans; automation to help reduce repetitive tasks and manual interventions; quantitation and advanced processing in diagnostic imaging and nuclear medicine to help determine therapy response; and a platform to assist with Theranostics imaging and dosimetry.

GE HealthCare expects to integrate MIM Software solutions into its advanced visualization offerings to facilitate AI-based segmentation and contouring as well as dosimetry analysis for patients across their treatment journeys and in the growing fields of radiology, molecular imaging, and radiation oncology.

“We are committed to providing comprehensive, connected devices and digital solutions that enable providers to improve patient care across multiple specialties,” says Peter Arduini, President & CEO of GE HealthCare. “We expect our efforts to bring these two complementary organizations and innovative product portfolios together to strengthen our capabilities as a leading provider of integrated imaging systems, analytics, and advanced digital workflows across several care areas and pathways – including Theranostics, radiation oncology, urology, neurology and cardiology. Now and in the future, we are working to transform patient care.”

“We are excited by the prospect of joining GE HealthCare and thrilled to share this exciting news,” adds Andrew Nelson, CEO of MIM Software. “Over the past two decades, we have worked to develop innovative vendor agnostic products and deliver quality services to earn the trust of our customers – this will not change. As a part of GE HealthCare, we anticipate developing new and increasingly integrated digital solutions to meet our customers’ most complex and pressing needs, today and into the future. Together, we will build upon our shared legacies of enhancing patient care.”

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As novel therapies become more widely available, providers rely on advanced imaging, workflow and digital solutions to provide critical information and help enable faster, more effective treatment plans. With the agreement to acquire MIM Software, GE HealthCare is working towards strengthening its focus and offerings to support the broad practice of precision care across various disease states and imaging practices, including Theranostics in oncology for the treatment of advanced prostate cancer, streamlined workflow solutions in radiation oncology to help simplify complex cancer treatment plans, beta amyloid imaging in neurology for the diagnosis and monitoring of Alzheimer’s patients, and myocardial perfusion to diagnose coronary artery disease (CAD).

“Our anticipated acquisition of MIM Software will mark a key moment in the evolution of our technology. By integrating MIM Software’s cutting-edge imaging analytics and AI-driven solutions with GE HealthCare’s advanced medical technology, we are not just expanding our capabilities, but joining together to embrace the possibilities of precision care. This intended merger is a fusion of innovative visions, aimed at evolving the way we detect, treat, and manage disease,” shares Taha Kass-Hout, MD, MS, Chief Technology Officer of GE HealthCare. “GE HealthCare is committed to developing smart, AI-powered devices that cater to specific disease states, thereby enabling clinicians to deliver more personalized care. We expect the integration of MIM Software will also advance our efforts in connecting data across care pathways. It is a leap towards a future where healthcare is more precise, connected, and efficient, with the goal of benefitting providers and patients worldwide.”

Founded in 2003, MIM Software is headquartered in Cleveland, Ohio, with additional offices in China and Belgium. The consummation of the transaction is subject to customary closing conditions, including regulatory approvals. Financial details of the transaction have not been disclosed publicly. GE HealthCare intends to fund this transaction with cash on hand. The Company expects this transaction to be neutral to Adjusted EBITⁱ in year one and accretive thereafter.

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Marks a significant milestone in the world of medical imaging and technology as iCardio.ai, a leading innovator in AI-driven ultrasound interpretation, announces a strategic partnership with UltraLinQ, a major PACS (Picture Archiving and Communication Systems) software provider.

This collaboration is set to revolutionize the way ultrasound images are interpreted and distributed, combining iCardio.ai’s cutting-edge automated AI tools with UltraLinQ’s robust image viewer and advanced reporting platform. The partnership aims to deliver a substantial leap in quality, efficiency, accuracy, and speed in ultrasound image interpretation, benefiting healthcare providers and patients alike by leveraging the latest in artificial intelligence.

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“We are thrilled to partner with UltraLinQ, a company that shares our vision for innovation and excellence in medical imaging,” explains Joseph Sokol, CEO of iCardio.ai. “Together, we are setting a new standard for ultrasound interpretation and distribution, ensuring that healthcare providers have access to the most advanced tools available.”

“UltraLinQ is committed to providing our users with the best possible solutions for image management, reporting, and distribution,” said Theo Vouniseas, Chief Financial & Operations Officer of UltraLinQ. “By augmenting our system with iCardio.ai’s AI tools, we are enhancing the value of our services and delivering on our promise of excellence. Our partnership with iCardio.ai will provide our users with advanced AI tools that can help assess quality of exams, automate workflows, and will assist them in providing the highest quality of healthcare to their patients.”

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This partnership is expected to have a profound impact on the cloud PACs and cardiology healthcare industry over the new few years by providing helpful insights into echo quality and efficiencies in evaluation and diagnosis.

[To share your insights with us, please write to sghosh@martechseries.com]

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Logiwa Inc., a leading cloud based Fulfillment Management System (FMS) for high-volume fulfillment businesses, is excited to announce the launch of its innovative product update, Logiwa IO. This advanced Fulfillment Management System (FMS) is poised to redefine efficiency and effectiveness in high-volume fulfillment, adapting adeptly to the dynamic demands of the digital marketplace.

Logiwa IO represents a pioneering shift in the world of fulfillment management, transcending traditional Warehouse Management Systems (WMS) limits. Specially tailored for modern fulfillment challenges, Logiwa IO stands as a testament to Logiwa’s mission, “Fulfill Brilliantly.” It heralds a new era of innovative solutions tailored to evolving market dynamics and consumer preferences.

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The standout feature of this update is its revolutionary architecture – headless, versionless, and serverless – setting a new benchmark in flexibility and customization. This architectural innovation ensures that operations are not only future-proofed but also optimally adaptable to fluctuating business needs. The serverless framework enhances system reliability, streamlines maintenance, and boosts overall resilience. Accompanied by a partner-centric marketplace, Logiwa IO empowers businesses to customize solutions to their unique operational workflows.

“Logiwa IO is more than just an advancement in fulfillment technology; it’s a transformative force reshaping the fulfillment landscape,” said Erhan Musaoglu, Founder & CEO of Logiwa. “Our dedication to AI-driven, user-centric solutions ensures businesses excel in the rapidly evolving market. This release is more than innovation; it’s the culmination of a decade of learning, delivering dynamic and efficient fulfillment processes tailored to industry needs.”

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Logiwa IO’s rapid deployment design ensures immediate, impactful results, crucial in fast-paced commercial environment. Its advanced automation minimizes manual intervention, thereby streamlining operations, reducing errors, and maintaining high efficiency and adaptability, crucial for challenging workforce environments.

[To share your insights with us, please write to sghosh@martechseries.com]

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Firm plans to leverage its longstanding expertise in technology sourcing and governance to help enterprise clients adopt AI at scale

Information Services Group (ISG), a leading global technology research and advisory firm, has launched a new suite of advisory services to help clients navigate the complexities and implications of adopting artificial intelligence at scale.

“Artificial Intelligence, specifically Generative AI, is the next big thing in technology,” said Michael P. Connors, chairman and CEO of ISG. “Gen AI has risen to the top of the agenda for the world’s largest corporations. Business leaders are already seeking our advice and guidance on the practical applications of this technology, as well as longer-term strategies for scaling AI as the technology grows and matures.”

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ISG Research forecasts the global market for AI-related managed services should reach $175 billion by 2030, Connors said.

Organizations already working with ISG on AI engagements include a global hospitality and entertainment company, a major U.S. manufacturer, two major global insurance companies, and a U.S. state government, with many others in discussions with the firm about advancing their AI agenda.

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“ISG has always been at the forefront of guiding our clients through the complexities of adopting technology at scale,” said Steve Hall, ISG president and newly appointed as the firm’s first chief AI officer. “Our expansion into applied AI strategy and advisory is our next great leap forward, ensuring businesses can harness AI to drive unprecedented value into every aspect of their operations.”

Hall noted clients trust ISG for its independent advice and long-held expertise in technology sourcing and governance. “Typical of the feedback we’re getting from our clients is this statement: ‘We wanted to get ISG in right at the start of our journey so we can cut through the hype and do this right the first time. This is moving so fast we need to avoid any missteps.’”

ISG’s Applied AI Advisory services help clients assess their AI readiness, identify practical use cases, experiment with proofs of concept, create an AI strategy, and establish a business case for investment. ISG also helps clients select the right business partners and build a cognitive infrastructure to support AI at scale. Finally, ISG provides training and organizational change management, a strategy realization office, and governance through a proprietary AI control plane to help clients mitigate risk and maximize ROI from their AI investments.

ISG was the first sourcing advisory firm to establish a reference architecture for applied Generative AI when it published a September 2023 global study of enterprise use cases. An analysis of the use cases shows AI can lower the cost of IT operations by 30 to 58 percent.

The use cases range from personalizing customer experiences at scale and optimizing supply chain operations to enhancing decision-making through predictive analytics and pioneering the development of new products and services.

The ISG study found that 85 percent of enterprises believe investment in generative AI over the next two years is important, but only a small percentage are achieving tangible results today.

Hall said ISG is looking to help clients move beyond the hype and identify practical applications of AI that can lead to enterprise-wide adoption.

“Our goal is to empower businesses to define their AI-driven future, find the perfect partners to make it a reality, lead change in their organizations, and realize tangible value at a scale,” he said.

Hall noted that successful adoption of AI at scale will require the use of an “AI control plane” to oversee and manage the deployment of artificial intelligence systems.

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“An AI control plane encompasses robust security measures to safeguard against data breaches and unauthorized access, ensuring the integrity and confidentiality of sensitive information,” said Hall.

“It also ensures AI operations adhere to legal and ethical standards and avoid biases, protecting users’ rights and promoting fairness, while providing oversight of AI-related expenditures and resource allocation, enabling efficient budget management and cost optimization.”

[To share your insights with us, please write to sghosh@martechseries.com]

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One Step GPS to expand fleet tracking and monitoring solutions by integrating with embedded vehicle technology and AI-powered data platform from CerebrumX

CerebrumX Labs Inc. an AI-driven automotive data platform company, announces a strategic partnership with One Step GPS, a leading provider of precise GPS tracking solutions for fleets.

By leveraging CerebrumX’s AI-driven Augmented Deep Learning Platform (ADLP) and One Step GPS’ suite of fleet monitoring tools this collaboration delivers a sophisticated solution catering to the dynamic demands of fleet management and provides fleets with advanced real-time vehicle tracking, driver monitoring, quick vehicle dispatching, fuel cost monitoring, vehicle service reminders, custom reporting, and more solutions to optimize fleet performance.

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The new partnership also provides fleets with higher quality data, superior datasets, heightened accuracy, reduced downtime, and eliminated risk of data transmission loss. The result is significantly boosted operational efficiency, improving a fleet’s customer satisfaction through precise and intelligent data-informed fleet management insights.

“We look forward to our joint effort with One Step GPS to offer fleet businesses unparalleled capabilities and insights”, said Sandip Ranjhan, CEO at CerebrumX. “By combining the power of our AI-powered platform with One Step GPS, we are creating a solution that enhances the experience along with optimizing the operational cost of fleets.”

“Among the biggest problems real-time data can solve for fleets of all sizes is the lack of visibility managers have over drivers and company vehicles. A partnership with CerebrumX means we can give more visibility to fleet pros and solve real problems they face every day like driver safety, operational inflation, asset security, and planning for electrification”, said Adam Ben Jacob, CEO of One Step GPS.

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One Step GPS’ fleet tracking devices offer easy plug-in installation, 2-60 seconds updating, and text and email alerts to keep fleet managers continually aware of the status of their fleet vehicles, and provides a single platform where managers can see their entire fleet, and the behavior of each driver, in real time. CerebrumX brings the power of embedded data to this tracking solution with real-time monitoring and route optimization, faster and more targeted repairs, detailed insights on driver profiles, geofence alerts, EV charging optimization, and more.

CerebrumX and One Step GPS are committed to driving innovation in fleet management, enabling businesses to stay ahead of the curve in an increasingly competitive landscape. The joint solution empowers fleet managers to make informed decisions, optimize resources, and deliver an exceptional experience to the ultimate end user; their customers.

[To share your insights with us, please write to sghosh@martechseries.com]

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The Matrix, an AI-powered online radio station, offers exclusive, in-depth coverage and expert analysis of the latest developments in artificial intelligence. Narrated and produced by AI, this innovative platform provides a unique and informative experience, making it a premier destination for AI-related news and insights.

InteliGenesis, led by innovative developer Nathan Smith-Manley, has launched a groundbreaking AI-powered online radio station, The Matrix, reshaping the way we interact with news about artificial intelligence. This initiative marks a significant leap in the fusion of technology and journalism.

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The Matrix stands out with its unique AI-driven approach, where the entire broadcasting process, from production to narration, is powered by advanced artificial intelligence technologies. This innovation ensures that the station delivers news in a manner that is not only efficient but also deeply engaging and informative. Nathan Smith-Manley’s vision was to create a platform that could analyze and present AI news with unparalleled precision and insight.

Listeners can access The Matrix through its radio player. The station specializes in offering comprehensive coverage and expert analysis on the latest advancements and impacts of artificial intelligence. This focus makes The Matrix an invaluable resource for professionals, enthusiasts, and the general public alike, looking to stay updated on the rapid developments in the AI field.

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Backing the radio station is the Alan Turing Multimedia Library, a comprehensive digital repository of AI resources and information. This library serves as a testament to Nathan Smith-Manley’s commitment to not just inform but also educate listeners about the nuances and complexities of artificial intelligence. It’s a treasure trove for those who wish to dive deeper into the subject.

The Matrix, under Nathan Smith-Manley’s guidance, is more than just a radio station – it’s a pioneering effort in the world of AI news broadcasting. By leveraging the power of artificial intelligence, Nathan and InteliGenesis are setting new standards in how news is curated, produced, and consumed in the digital age.

With this innovative platform, Nathan Smith-Manley and InteliGenesis are not only broadcasting AI news but are also actively shaping the future of how we interact with and understand the rapidly evolving world of artificial intelligence.

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 [To share your insights with us, please write to sghosh@martechseries.com] 

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New brand identity, logo and website reflects Valens’ holistic strategy of leveraging its core technology to power cross-industry innovation

The refined brand – which includes a new visual identity, logo design and website – reflects Valens’ holistic strategy of leveraging its core technology to power innovations across numerous industries.

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“The refreshed Valens brand embodies the spirit of our team, which pushes boundaries every day and dares to make the impossible a reality,” said Gideon Ben-Zvi, Chief Executive Officer of Valens Semiconductor. “Valens chipsets are found in millions of products, and our cutting-edge technology is setting new standards across diverse industries. Our solutions outperform the competition by enabling high performance in the harshest, most challenging conditions, and our new refreshed brand reflects our unrivaled technology and pioneering spirit.”

The need for resilient and uncompromised connectivity is becoming more pivotal in today’s rapidly evolving technological landscape. Valens Semiconductor’s long-reach, high-resolution, error-free video connectivity chipsets give companies across diverse industries the flexibility to innovate without constraints. The new brand illustrates how Valens chipsets provide a robust connectivity foundation that can be adapted to a variety of interfaces, applications, and industries, including automotive, video-conferencing, education, medical, industrial and many others.

Backed by more than 15 years of experience and over 100 patents, Valens Semiconductor technology forms the basis of standards spanning across multiple industries. The company’s superior physical layer (PHY) technology leverages innovative AI-driven error correction mechanisms that constantly learn and adapt the transmission to the dynamic noise environment, enabling mission-critical applications to perform seamlessly.

The new brand positions Valens chipsets as the ‘hidden gems’ at the heart of its customers’ products, enabling optimal functionality and superior performance. The new website shines a light on Valens chipsets to reflect the evolution of the company and its technology. Valens Semiconductor will showcase its new brand identity at CES 2024, taking place January 9-12 in Las Vegas.

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“Our cutting-edge connectivity solutions are in high demand, and we are positioned to continue to help our customers create novel products by setting new standards for innovation and driving connectivity forward,” said Ben-Zvi. “We are excited to illustrate the extent to which our technology and passionate team are having an impact on people’s everyday lives.”

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Demos Available to Brands and Journalists at Stagwell Booth GL-03

Stagwell, the challenger network built to transform marketing, will debut its latest AI-enabled startup SmartAssets, part of Stagwell Marketing Cloud, on the convention floor at CES 2024, as it rolls out global client solutions in artificial intelligence across three areas: enablement across operations, efficiencies in marketing, and engagement with consumers.

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“AI is a quantum leap for creativity and productivity that will drive a new age of value creation for modern business. Stagwell intends to lead this transformation,” said Mark Penn, chairman and CEO, Stagwell. “Whether you’re a global player or a nascent challenger, developing an approach to the three E’s of AI is the best way to stay ahead in this year of competition, and there’s no marketing network boasting the breadth of full-service digital transformation and self-service AI products like SmartAssets to help clients adapt.”

Spanning its digital transformation agencies and AI-enabled product set, Stagwell has created a set of offerings to meet this demand, encompassing:

• Enablement Across Operations – Empowering organizations to unlock the potential of AI to streamline operations, elevate decision-making, and transform their proprietary data into a strategic wellspring for future growth.
• Efficiency in Marketing – Revolutionizing marketing dynamics through the intelligent application of AI across research, communications, media, and creative production, effectively reducing the cost of delivering precise messages to the right audience at the optimal moment.
• Engagement with Consumers – Using AI to create the future of consumer engagement, where AI-driven anticipation sets the stage for unparalleled brand loyalty and tailored brand experiences.

SmartAssets: Creating the Future of Creative Optimization
SmartAssets – the winner of Stagwell Marketing Cloud’s 2022 innovation competition – is a three-pronged tool empowering transformation across the Three E’s of AI. SmartAssets uses AI to extract creative components from ads, assess performance data, and optimize future ads for effectiveness with instant generative AI adjustments. Investment in the tool is already paying off, with top brands in discussion to pilot the resource in 2024.

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“SmartAssets is the smart answer to the imperative for content and advertising effectiveness in an age that demands more anticipatory marketing,” said Lindsay Hong, co-founder and CEO of SmartAssets.

Stagwell’s groundbreaking partnership with Google Cloud, first announced in October 2023, will fuel an accelerated development and sales pipeline for Stagwell Marketing Cloud’s newest startup, as the two tech giants partner to develop generative AI solutions for marketing services.

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