- Almost half of the growth in the FMCG industry over the next 3 years will take place in Emerging Markets outside of China
- AI-powered Open commerce will be the key to FMCG’s winning in these markets
- 90% + of B2B trade is still conducted offline, current ecommerce solutions will only go so far in bringing this trade online
- RedCloud’s intelligent open commerce platform, which currently has over 300,000 users, empowers FMCG brands to dynamically transform trading relationships with their distribution channels and millions of micro retailers
- With some of the largest product ranges in the world, the need for AI-powered search, order and trade is critical to cost, convenience and choice for the FMCGs in food, beverage, and essential consumer supplies.
Almost half of the growth in the FMCG industry over the next 3 years will take place in Emerging Markets outside of China. It’s a $1 trillion dollar opportunity for brands that can successfully navigate these markets. RedCloud Technologies, the company behind the world’s first open commerce platform, are bringing the latest in generative AI technology to help businesses further seize this sizable opportunity.
RedCloud has made a number of new AI expert hires and has formed several partnerships with cutting-edge AI companies. They now have number of updates to their intelligent open commerce platform in progress which include:
- Powering their search and order functionality with large language models to reduce friction
- Creating a new level of AI driven microtargeting for in-app campaigns and promotions
- Utilising machine learning to create highly advanced predictive analytics
- Augmenting their data processing operations with AI powered optimisation tools
For most businesses in the FMCG market, the ability to buy and sell efficiently is key. But in EMDEs – the areas that also have the greatest growth potential – barriers remain. RedCloud’s current platform has already created a fairer, more profitable trading system, bringing over 300,000 local merchants online for the first time, allowing them to trade instantly with their distributors and FMCGs. Their latest updates will go one step further, by fusing their search functionality with LLM’s, they will reduce the time spent ordering by over 80%. This frees up time local retailers could be using to trade in the digital economy.
It’s not just local retailers who will benefit though from the upcoming updates to the RedCloud platform. FMCG brands and distributors are also set to reap the benefits of RedCloud’s commitment to generative AI. Price volatility means businesses are often hard-pressed to keep up with the macroeconomic changes affecting their markets. RedCloud is therefore undertaking several updates to its existing dynamic pricing tools.
Their real-time data insights powered by machine learning creates automated pricing recommendations that could increase a company’s revenue by around 15%. They are also developing AI into their insights tool to allow for the creation of highly accurate predictive analytics. This will enable companies to further improve their forecasting with confidence, remaining ahead of macroeconomic curves and market trends.
RedCloud is also using generative AI to help companies reduce their advertising costs. FMCG brands can spend anything between 5%-15% of their operating budget on advertising, however on traditional channels, 90% goes unseen and conversion rates are continuing to reduce. RedCloud is supercharging its search and promotions tool with machine learning to further improve its targeting capabilities, allowing for micro-segmentation of audiences and campaigns. This will allow companies to create more efficient and effective digital advertising campaigns, allocating spend only where it’s truly valuable.
Justin Floyd, founder and CEO of RedCloud, comments: ‘The future of B2B commerce is open and conversational. This overcomes the lack of trust in traditional and big tech e-commerce platforms, enabling users to place orders in a familiar way and build sustainable relationships with sellers – regardless of whether there’s a human on the other end or not. ‘
RedCloud’s AI lead Daniel Chada, adds: ‘Generative AI, which includes technologies like Generative Adversarial Networks (GANs) and language models like ChatGPT, can play a significant role in addressing the challenges of digitising B2B commerce. Managing user experience, data integration, security, privacy, and regulatory compliance, it provides a simple yet sophisticated solution to the most pressing problems faced in the FMCG space. And one that can be easily adopted in emerging markets.’
RedCloud is a global technology company, headquartered in London committed to bringing commerce everywhere, especially in emerging markets, by digitally connecting FMCG brands, distributors, and merchants, enabling them to search smarter, sell better, and trade simpler.
With its proprietary Open Commerce platform, RedCloud is poised to drive economic growth in the FMCG industry by providing new levels of visibility and facilitating strategic decision-making based on real-time data analysis syndicated across the distribution chain.
Vechain and SingularityNet Combine Blockchain + AI To Drive Sustainability and Build Advanced Enterprise-Grade Tools
Vechain and SingularityNET, industry leaders in blockchain and artificial intelligence (AI) respectively, have announced their strategic collaboration. This partnering of technical giants unites powerful emerging technologies with the potential to radically change how the global economy operates, offering powerful enterprise-grade tools to tackle challenges in the field of sustainability and traditional businesses.
In particular, the alliance holds great promise for vechain’s ambitions with Boston Consulting Group, partners, collaborating on building ‘ecosystems’ wherein individuals and businesses are incentivised to act sustainably. SingularityNet’s AI capabilities offer immense potential to enhance and improve these ecosystems, utilising AI technology to pore over data, and improve their efficacy.
Vechain and SingularityNET intend to launch joint research initiatives to fortify the efficacy of each respective platform and ingrain the pair at the heart of future digital development. The combination of these technologies can equip businesses with intelligent tools, signalling the onset of a new phase in the era of digitisation.
Dr. Ben Goertzel, the visionary CEO of SingularityNET, expressed his excitement for the massive potential of this partnership:
“The last few years have taught the world that when the right AI algorithms meet the right data on sufficient processing power, magic can happen.
What’s even better is when the algorithms, data and processing are decentralized in deployment, ownership and control — which is exactly the sort of magic that’s going to happen putting the SingularityNET ecosystem’s AI algorithms together with vechain’s deep and diverse enterprise data, on the joint, secure distributed processing power of the two networks.
This combined power will be applicable to sustainability as one of our initial focus areas, but in the end extends across essentially all vertical markets. It’s hard to overestimate the potential here.”
Vechain’s CTO Antonio Senatore commented:
“We’re excited to be collaborating with leading Web3 AI platform, SingularityNET, combining our rich streams of enterprise data with SingularityNET’s powerful and versatile platform.”
“Blockchain and AI offer game-changing capabilities for industries and enterprises and are opening new avenues of operation. We look forward to working closely with the SingularityNET team to build out new services and continue to advance the fore of possibility in web3 and sustainability.”
Vechain and SingularityNET are enabling a new, more interconnected and automated world, driving new capabilities in the fields of industry and in particular, for action around sustainability.
Deepdub and OOONA Announce Strategic Partnership to Expand AI-Based Dubbing Solutions to Global Entertainment and Media Clients
Deepdub, the leading AI-based audiovisual dubbing and language localization company, today announced a partnership with OOONA, a major media localization software provider. This collaboration will bring Deepdub’s advanced dubbing solutions to OOONA’s extensive entertainment and media clients worldwide.
Through this partnership, OOONA will implement a process for connecting their clients to Deepdub’s services. This will enable media companies and content creators worldwide to instantly access Deepdub’s innovative dubbing solutions. Companies will be able to submit their content localization needs with ease via OOONA’s platform and receive tailored proposals from Deepdub that leverage the power of AI emotion-prompting technology. Going forward, clients stand to benefit from more efficient workflows and access to groundbreaking dubbing capabilities unlocking flexibility and scale.
“OOONA’s unmatched expertise in media localization, honed from providing pioneering management and production tools to the biggest names in the sector, makes them an ideal partner,” said Ofir Krakowski, CEO and co-founder of Deepdub. “This collaboration gives us the opportunity to introduce our advanced AI dubbing technology to new clients across the entertainment industry and beyond.”
OOONA is trusted by leading media localizers, broadcasters and a vast user base spanning over 170 countries. “We continue to stay true to our mission of being the core platform that integrates anything our clients need, including any opportunities AI-based solutions bring for localizing audiovisual assets,” said Wayne Garb, CEO and co-founder of OOONA. “We are thrilled to collaborate with Deepdub and further strengthen the services we provide to our customers globally.”
Deepdub aims to bridge the language barrier and cultural gap of entertainment experiences for international audiences across TV, Film, Advertising, Gaming and e-learning. We provide a high-quality localization service for entertainment content using deep learning and AI algorithms. Deepdub plugs into the post-production process of content owners and provides an end-to-end solution for all of their localization needs. Deepdub’s team consists of technology entrepreneurs, engineers, and scientists, as well as dubbing and post-production specialists with extensive industry experience. The advisory board features prominent media executives such as Kevin Reilly, who held the position of Chief Content Officer at HBO Max and president of TNT, TBS, and truTV, and Emiliano Calemzuk, the former President of Fox Television Studios.
For more information about Deepdub, visit https://deepdub.ai
OOONA.Net Ltd (www.ooona.net) is a globally recognized provider of professional management and production tools for the media localization industry. Renowned for its state-of-the-art software catering to subtitling, voiceover, dubbing and captioning needs, OOONA’s modular, pay-as-you-go pricing model empowers users to tailor solutions to their unique requirements. Trusted by leading media localizers, broadcasters and a vast user base spanning over 170 countries, OOONA continues to trailblaze advancements in the field of media localization.
Malaysia and China to collaborate on AI Research for Transborder Blockchain Applications
KUALA LUMPUR, Malaysia, June 14, 2023 — Malaysia’s public blockchain platform developer Zetrix and the country’s premier research university Universiti Malaya (UM) will be collaborating with China Academy of Information and Communications Technology (CAICT) to develop cutting-edge Artificial Intelligence (AI) technology as part of their ongoing intergovernmental research collaboration.
The project entitled “Research on Key Issues of Transborder Blockchain Infrastructure and Pilot Applications” was selected as part of the intergovernmental collaboration between Malaysia and the People’s Republic of China in the field of Science, Technology and Innovation.
Spearheaded by the Chinese government’s government-to-government (G2G) program and initiated by the Ministry of Science and Technology (MOST) of China, this collaboration is designed to foster research partnerships between the Chinese government and overseas governments.
Malaysia is one of the 14 countries that is participating in this prestigious program. It is setting its research initiative on leveraging AI to further streamline and optimise the cross-border trade processes, with the ultimate goal of reducing inefficiencies and improving the overall ease and speed of cross-border transactions.
TS Wong, Group Managing Director of MYEG Services Bhd (MYEG 0138), which owns and develops Zetrix, expressed his enthusiasm for the expanded research focus. “AI and Web 3 are the 2 key complementary technologies that will disrupt the whole spectrum of digital services. Web3 provides the architecture that supports the deployment of AI functionalities on authenticated digital assets ,” Wong said. “Our partnership with UM and CAICT continues to be instrumental in our journey towards leveraging 4th Industrial Revolution (4IR) technologies to transform cross border trade and settlement.”
The lead researcher at UM, Dr Saaidal Razalli Azzuhri, also highlighted the potential benefits of the expanded research initiative. “The incorporation of AI into our ongoing research work opens up a whole new realm of possibilities,” Dr Azzuhri said. “We expect that the synergistic combination of AI and blockchain technology will lead to breakthroughs that greatly enhance the efficiency and security of cross-border trade.”
The addition of AI to the scope of this tri-partite collaboration is timely and comes even as Zetrix continues to lead the way in the deployment of services that are at the intersection of blockchain and AI. Last month, Zetrix successfully deployed its Digital Identity Service, a W3C-compliant pioneering decentralised identity service that enables online engagements with real humans to be verified and distinguished from those with AI agents.
This collaboration between Zetrix, UM and CAICT marks yet another significant stride towards international cooperation in AI research. It also recognises the importance of international cooperation and knowledge-sharing in realising the full potential of AI in advancing cross-border trade, which helps forge a path towards a more connected, efficient, and prosperous world economy.
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy.
Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China Blockchain enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).
About MY E.G. Services Bhd (“MYEG”)
MYEG is Malaysia’s premier digital services company. Having commenced operations in 2000 as the flagship e-government services provider, MYEG continues to play a leading role in driving technological change in the region, bringing a diverse and complete range of innovations spanning the online delivery of major government services to a variety of commercial offerings in the areas of immigration, automotive, healthcare and financial services, among others.
Committed to staying firmly at the forefront of the region’s digital revolution, MYEG has embraced the potential of blockchain technology to enhance all aspects of life and is actively pioneering its adoption across its main markets. MYEG has operations in key regional markets such as the Philippines and Indonesia.
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