As these innovative and cutting edge technologies fuse together experts in the market are forecasting exponential growth over the next seven years while revolutionizing everyday products with amazing potential. Grand View Research projects the wireless mesh network alone will be worth north of $11 billion globally by the year 2025. One of the significant factors driving market growth is the variety of applications across multiple industries for these platforms, ranging from traditional business projects to emergency services. The inclusion of IoT and AI are expected to expedite the process, allowing for more efficient and effective operations of MESH applications and networks. Active tech companies in the markets this week include Gopher Protocol Inc. (OTC: GOPH), Microsoft Corporation (NASDAQ: MSFT), Intel Corporation (NASDAQ: INTC), Micron Technology Inc. (NASDAQ: MU), Cree Inc. (NASDAQ: CREE).
Gopher Protocol Inc. (OTCQB: GOPH) BREAKING NEWS: Gopher Protocol, a company specializing in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, is pleased to announce that it has completed the first phase of its Decentralized MESH system architectural functionality simulation. These simulations tested Gopher’s unstructured MESH network, performing node and gateway communication scenarios while observing timing and performance. The team was able to successfully simulate “node to node” and “node to gateway” network communication, within a defined range.
A wireless mesh network is a communications network made up of radio nodes (telephones or other connected devices) organized in a mesh topology (random dispersion across a given area). MESH refers to rich interconnection among devices or nodes. Wireless mesh networks typically consist of mesh clients(users) and gateways (internet access points). The Gopher Decentralized MESH network will be a mobile network, which adds additional complexity as the nodes move frequently. The main challenge of developing Gopher’s MESH network is updating routes of data considering that nodes are moving within the MESH. Managing these nodes is achieved by our time division based electronic hardware combined with Gopher’s Avant! Artificial Intelligence engine that is cognitively learning about the dynamic GEO locations of nodes and gateways in order to control the unstructured mesh network.
“This is a very significant stage for us” stated Danny Rittman, Gopher’s CTO. “We successfully conducted a node hopping simulation which we believe is one of the key technological hurdles in creating a MESH network. In addition, we also performed “node to gateway” communications and multiple “node hopping” all the way to a gateway. The results were successful for a defined range and beyond. We are now constructing testing boards to further analyze the technology in order to identify methods of improvements and advancements.”
“We are also working on our Avant! AI engine, providing it with the mathematical knowledge with the goal of developing it to a point to control the entire system. Unstructured networks are particularly difficult to control without the involvement of highly mathematical models and algorithms” continued Dr. Rittman. Gopher believes the development of a mesh network and technology is crucial to the creation of a communications network that disrupts the incumbent Internet and data providers that are the gatekeepers of communication access for the developed world. Gopher intends to bring connectivity to the hundreds of millions that cannot easily afford the current global cost of connectivity and to make the rapidly growing internet of things more affordable for all. Read this and more news for GOPH at http://www.marketnewsupdates.com/news/goph.html
Other recent and current developments in the tech industry include:
Microsoft Corporation (NASDAQ: MSFT) recently announced a strategic partnership to deliver new technology developments and go-to-market initiatives that accelerate enterprise AI and IoT application development. As part of this partnership, the companies will create a “better together” solution, comprising the C3 IoT Platform™, a low-code, high-productivity PaaS for scaling AI and IoT across enterprises, fully integrated to operate on Microsoft Azure. C3 IoT will leverage Microsoft Azure as a preferred cloud platform and tap into the power of its intelligent capabilities. The companies will conduct co-marketing and co-selling strategies that rapidly scale distribution globally, as well as intensive training for dedicated teams to speed customers’ time to value. Close collaboration between Microsoft and C3 IoT will help enable customers to more rapidly develop and deploy AI-based applications for transformative use cases, such as AI predictive maintenance, dynamic inventory optimization, precision healthcare and CRM.
Intel Corporation (NASDAQ: INTC) recently issued an editorial by Naveen Rao, vice president and general manager of the Artificial Intelligence Products Group at Intel Corporation. This is an exciting week as we gather the brightest minds working with artificial intelligence (AI) at Intel AI DevCon, our inaugural AI developer conference. We recognize that achieving the full promise of AI isn’t something we at Intel can do alone. Rather, we need to address it together as an industry, inclusive of the developer community, academia, the software ecosystem and more. So as I take the stage today, I am excited to do it with so many others throughout the industry. This includes developers joining us for demonstrations, research and hands-on training. We’re also joined by supporters including Google*, AWS*, Microsoft*, Novartis* and C3 IoT*. It is this breadth of collaboration that will help us collectively empower the community to deliver the hardware and software needed to innovate faster and stay nimble on the many paths to AI. Indeed, as I think about what will help us accelerate the transition to the AI-driven future of computing, it is ensuring we deliver solutions that are both comprehensive and enterprise-scale. This means solutions that offer the largest breadth of compute, with multiple architectures supporting milliwatts to kilowatts. Enterprise-scale AI also means embracing and extending the tools, open frameworks and infrastructure the industry has already invested in to better enable researchers to perform tasks across the variety of AI workloads. For example, AI developers are increasingly interested in programming directly to open-source frameworks versus a specific product software platform, again allowing development to occur more quickly and efficiently.
Micron Technology Inc. (NASDAQ: MU) came to a close up .61% on Monday afternoon with a volume north of 63.3 million. In the news: Micron Technology Inc., the largest U.S. maker of memory chips, is benefiting from “exploding” data consumption that’s helping smooth the boom-to-bust cycles of growth the industry experienced in the past, Chief Executive Officer Sanjay Mehrotra said. Demand from data-center operators and new artificial intelligence computing have “muted” fluctuations in the need for memory chips while supply increases have become more measured due to the increased technological complexity of improving manufacturing, Mehrotra said in an interview in New York on Tuesday. “All of these trends really point to a structural change and healthy fundamentals for the industry,” Mehrotra said. “We see a stable environment.”
Cree Inc. (NASDAQ: CREE) recently announced it is expanding its SmartCast Intelligence Platform™ to include connected wireless capabilities that enable smart building solutions, such as building automation and control network (BACnet) connectivity, advanced lighting control, and building analytics. In addition, Cree announced a new collaboration with Synapse Wireless, Inc. (“Synapse”) to deliver intuitive, intelligent lighting control designed specifically for outdoor area and high-bay applications. Together, these platform enhancements deliver connected solutions to more customers and applications, such as complete campus and industrial settings, while making it easier than ever to upgrade existing buildings to intelligent lighting systems.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated twenty three hundred dollars for news coverage of the current press releases issued by Gopher Protocol Inc. by anon-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.
Why brands harnessing the power of digital are winning in this evolving business landscape
By Justin Pike, Founder and Chairman, MYPINPAD
Delivery of intuitive, secure, personalised, and frictionless user experiences has long been table stakes in digital commerce, well before the era of COVID-19. As businesses harness the revolutionary power of digital technologies, they have pursued large-scale change to adapt to evolving consumer preferences (some more successfully than others, but that’s a blog for another day). Digital transformation is a term we hear repeatedly, and it looks different for each organisation, but essentially, it’s about utilising technology and data to digitise, automate, innovate and improve processes and the customer experience across the entire business.
As I said, this was already well underway but then came 2020 and no industry escaped the disruption of the coronavirus outbreak, which has had an indelible impact on businesses performance, operations, and revenue. Regardless of whether the impact of COVID has been very positive or very challenging, it has forced organisations globally to re-evaluate and re-orient strategies to adapt.
As lockdowns and pandemic-related restrictions continue to change daily life, this raises the question of how we can balance a dramatic shift to digital and the benefits it brings, while ensuring business continuity and innovation both during and post-COVID, and protecting everyone against fraud?
Digital is an essential survival tool, and even more so in a COVID world
No one could have predicted the dramatic digital pivot that has taken place over this year. Indeed, within weeks of the COVID outbreak cash usage in the UK dropped by around 50%. Digital solutions including delivery applications, contactless payments, mobile commerce, online and mobile banking have become essential components of a touchless customer experience in the era of social distancing. It’s no longer just about an enhanced and superior customer experience, it’s also about health, safety and survival.
In store, businesses have benefited from contactless payments enabling faster throughput and reduced need for consumers to touch payment terminals (therefore requiring greater cleaning, which degrades the hardware much faster). Mastercard reported a 40% increase in contactless payments – including tap-to-pay and mobile pay – during the first quarter of the year as the global pandemic worsened. Digital has also become an essential sales channel for many B2C brands. Where brick and mortar stores have been required to close, digital commerce enables continuity of customer relationships and revenue. This channel also provides brands with rich customer data, which can be used to enhance and personalise the customer experience and typically results in greater levels of engagement and uplifts in revenue.
Industry forecasts estimate that worldwide spending on the technologies and services enabling digital transformation will reach GBP 1.8 trillion in 2023 – a clear indication that the process represents a long-term investment and a global commitment to digital-first strategy. The key point here is that digital brings significant benefits, and regardless of COVID, is here to stay.
The challenges that rapid digital transformation brings to businesses
Regardless of whether businesses are operating in developed or less-developed economies, these times of crisis have levelled the playing field in the sense that all businesses are facing similar issues. Access to products and supplies, maintaining customer relationships, accelerating sales for some and declining sales for others, health and hygiene are just a few of the unique challenges brought about by COVID.
Many businesses in physical environments have had to swiftly implement changes to significantly reduce safety risks for staff and customers, such as contactless payments, mobile ordering and delivery options. But with these changes come a host of other benefits of digitisation, such as faster transactions, and reduced human error at the point-of-sale.
The reliance on technology, however, can also expose organisations and consumers to certain vulnerabilities. In particular, the risks of fraud and cybercrime have dramatically increased since the onset of the pandemic as scammers have taken advantage of digital technologies to target both businesses and individuals.
As a McKinsey report illustrates, new levels of sophistication in the activities of fraudsters have placed more pressure on companies that have been previously slow to go digital, bringing “into sharp relief how vulnerable companies really are”, and damaging the financial health of small and large businesses. In fact, the Bottomline 2020 Business Payments Barometer reveals that only one in 10 small businesses across the UK report recovering more than 50% of losses due to fraud.
But take these stats with a grain of salt. While it is important to be aware of the risks and challenges this new business landscape brings, it’s equally as important to have a lens firmly across your own business, industry and audience, and to identify the changes you can make internally to mitigate risk as well as improve your customer experience. Where can you make some quick wins? Do you have the right skillsets internally to achieve what you need to achieve? What technology is out there that will enable your business goals? There are tech companies like MYPINPAD that are making huge strides in software development, which will transform businesses globally.
A digital world post-COVID
Almost a year in, the line between business success and failure remains fragile. However, an ongoing transition towards greater digitisation will be the difference between survival and the alternative.
There is a wide range of initiatives businesses can implement to weather this storm. If we look at the space MYPINPAD operates within, secure digital consumer authentication is crucial to the ongoing success and security of not only financial products but also identification and verification across a range of different industry verticals. Shifting the authentication of consumers securely onto mobile devices enables businesses to completely reshape their customer experiences. By bringing together a more seamless, frictionless customer experience, accessibility, privacy, security and access to consumer data, businesses are able to drive digital transformation across day-to-day activities.
Against this backdrop, software with stronger security standards continue to play an ever more vital role in supporting society, protecting consumers and businesses from the increase in risks that rapid digitisation brings. Already, merchants can deploy PIN on Mobile technology from companies like MYPINPAD, onto their smart devices to speed up the digitisation process many are now tackling.
Essentially, opening up universal payments and authentication methods that feel familiar, for both online and face-to-face transactions, will be key to opening up a world of possibilities when it comes to redefining how businesses engage with consumers.
Brexit responsible for food supply problems in Northern Ireland, Ireland says
LONDON (Reuters) – Food supply problems in Northern Ireland are due to Brexit because there are now a certain amount of checks on goods going between Britain and Northern Ireland, Irish Foreign Minister Simon Coveney said.
British ministers have sought to play down the disruption of Brexit in recent days.
“The supermarket shelves were full before Christmas and there are some issues now in terms of supply chains and so that’s clearly a Brexit issue,” Coveney told ITV.
The Northern Irish protocol means there are “a certain amount of checks on goods coming from GB into Northern Ireland and that involves some disruption,” he said.
(Reporting by Guy Faulconbridge; Editing by Tom Hogue)
2021: a new tipping point for digital commerce
By Damien Perillat, SVP Digital Commerce at Worldline Global
2020 was a year of significant change for all of us, impacting businesses and their customers heavily. While several industries struggled, the demand for digital commerce and alternative ways to pay took off as nation-wide lockdowns meant customers needed to shop from the safety of their homes. This forced many businesses that previously relied on their bricks and mortar stores into the online space. And now, consumers are increasingly comfortable with ecommerce being a crucial part of their shopping experience – even those who were previously reluctant to adopt a digital life. It took ecommerce 20 years to reach about 15% penetration of consumer spending and in just a few months we jumped five to ten years forward. This isn’t likely to change in 2021.
Even in physical stores, customers are looking for safer alternatives to cash and chip-and-PIN payments. UK Finance revealed that contactless spending was up 18% across the UK in September last year when compared to the same time in 2019 – 64 percent of debit card transactions and 46 percent of credit card transactions were contactless. The use of digital and contactless payment methods will be much more widespread in 2021 as we enter this new normal.
K-shaped economic recovery will continue
With that said, economic recovery won’t take place at the same rate for everyone. Different industries have been impacted in their own unique ways by the pandemic. Leisure and travel continue are ranked as the most one missed activities by consumers and the first signs of recovery will be in the form of an increase in domestic and regional travel.
At the same time, the way consumers are interacting with different industries has changed. For example, millennials are looking for more experiential holidays with strong social aspects, where they can make a positive impact on the destination and people they are visiting. And, younger generations are displaying more conscious buying behaviour, focusing on sustainability.
Other industries have faced difficulties throughout the pandemic. Challenged with economic uncertainty, customers have cut back on spending on non-essential, luxury items, instead favouring spending that has enabled low-touch and home-based activities, such as food delivery, electronics, home entertainment and online marketplaces.
A shift in payment preferences
What has been uniform across many industries though, is that consumers now have high expectations surrounding not only the user experience (UX) but also the payment process itself. They anticipate an easy shopping experience where payments are almost invisible. Having the right payments mix will therefore be the key ingredient for success this year for many. Companies will need to ensure that their payment processes are fast, simple and frictionless as online checkout experiences have been raised to the next level.
At the same time, demand for digital goods and services surged last year as people were stuck indoors during lockdowns so purely digital players benefitted. By the end of Q3 2020, Netflix had a huge 195 million subscribers registered, while from February to June, Zoom saw a 677% increase in usage – attributed to increased remote working.
Clearly the digital transformation boosted the subscription economy, and that didn’t stop at just digital goods. People took to subscription services that regularly delivered anything from food to supplies to their doorsteps. This has been a much safer and convenient way to purchase goods during the pandemic.
So, with subscription services establishing a foothold last year, 2021 will be the time for businesses to invest in understanding the dynamics of what a truly optimised subscription payment customer acquisition looks like.
More online payments means more online fraud
Last year it wasn’t all plain sailing for everyone operating in the digital space. The increase in online payments presented more opportunity for fraud to take place and that’s exactly what happened. Between May and July 2020, when certain lockdown measures were eased and customers became more willing to spend, fraud volumes rose 61%, according to figures published by Barclays Bank.
Similarly, chargebacks became more prevalent. When shops are more reliant on deliveries than ever before, there is more opportunity for things to go wrong with orders and customers to be dissatisfied with what has been purchased. Fraudulent chargebacks have also become much easier to commit as it is increasingly difficult to prove when deliveries arrive safely.
Therefore, in 2021, not only will it be important to have a frictionless UX, but security measures must be effective without impeding on checkout processes and refund management will remain critical.
Greater risk of fraud didn’t stop businesses from embracing their new-found digital capacities while physical stores were closed though. Many have ventured into international territory with the aim sharing their services with other countries around the world.
This year, focusing on high-growth markets such as India, Brazil, Russia, and China will be hugely beneficial for companies looking to operate internationally and we could see cross-border sales continuing to take off in these regions. South-East Asia and Latin America have some of the greatest potential for digital commerce growth and I would urge those operating across borders to consider offering services there.
Key to achieving this is the ability to provide payments services that meet the needs of customers in different localities. Worldline research has found up to 42% of customers are likely to drop off and search for an alternative website if their preferred payment method is not offered at the checkout. Therefore, businesses must integrate with payment networks in different regions to provide locally relevant payment methods.
Yet, the web of complexity is increasing for online merchants, especially for those that want to expand internationally. As such, next year we can expect to see the growing popularity of payment solutions that seamlessly support the international reach of consumers and that enable businesses to integrate with local payment networks, while minimizing the need for local establishments and resources.
In a similar fashion, supply and logistics is becoming more localized. Lockdown measures hugely impacted supply chains around the globe and businesses resorted to new sourcing strategies and business models which will continue to be used this year.
Facing up to the change
2021 will be another extraordinary year for many businesses, as the world begins to find its feet again following COVID-19. Businesses must assess their position in the market and ability to meet the changing needs of customers’ when it comes to preferred commerce and payment methods.
Not only will this be critical when operating in the bustling online space, but it gives them scope to diversify, bringing in new revenue streams as we face the current economic downturn. When used to their full potential, payments will also ensure that companies can continue expanding online and abroad, even if the economy is going through a long K-shaped recovery period.
SH Capital Ltd launches in Dubai to support SMEs with global banking services
Fintech provider to reconnect businesses with international banking services, digital treasury management solutions, risk management and cash investment products A...
Why CMOs Should Care About Customer IAM
By Darshana Gunawardana, Associate Director/Architect at WSO2 The surge to move online in 2020, in turn, has driven demand for...
Volkswagen faces EU fine for missing 2020 emissions targets
BERLIN (Reuters) – Volkswagen faces a fine of more than 100 million euros ($121 million) for missing EU targets on...
Ahli Bank, Oman, is SunTec’s 50th customer for its Indirect Taxation Solution
SunTec’s GCC VAT compliance solution to help Ahli Bank automate end-to-end VAT compliance process, manage regulatory changes, and seamlessly integrate...
Oil dips after unexpected rise in U.S. crude stocks
By Ahmad Ghaddar LONDON (Reuters) – Oil slipped on Thursday after industry data showed a surprise increase in U.S. crude...
UK factories see big drop in output ahead, supply problems too
LONDON (Reuters) – British manufacturers expect a sharp fall in output in the three months ahead and there were widespread...
Britain’s EG Group appoints Rose as non-executive chairman
LONDON (Reuters) – British convenience store and fuel retailer EG Group said on Thursday it had appointed Ocado Chairman Stuart...
Bitcoin slumps 10% as pullback from record continues
LONDON (Reuters) – Bitcoin slumped 10% on Thursday to a 10-day low of $31,977 as the world’s most popular cryptocurrency...
European firms improve diversity scores in pandemic year, study finds
By Aida Pelaez-Fernandez (Reuters) – The number of major European companies with high participation of women in leadership positions has...
Bank of Japan lifts next year’s growth forecast, saves ammunition as virus risks linger
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – The Bank of Japan kept monetary policy steady on Thursday and...