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IFS: Utilities globally prioritize AI to drive digital transformation, but lack of collaboration a key factor preventing 80% from completing journey

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6 months ago

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Organized data holds the key to successfully adopting AI while improved asset management emerges among top drivers of transformation

LONDON, July 9, 2024 /PRNewswire/ — AI is at the forefront of digital transformation in the utilities sector, with 82% of executives recognizing it as essential to their strategy. However, despite widespread recognition of the importance of emerging technologies, only a fifth (20%) of companies have completed their digital transformation journey, with respondents split on where ownership should lie (22% reference CFO, while the same percentage cite the CTO).

That’s according to new research by IFS, the leading technology innovator in cloud and Industrial AI software, which polled 863 C-level executives and VPs from utilities companies around the world (UK, US, France, the Nordics, the Middle East, and Australia).

While 84% of organizations recognise data analytics as important to their digital transformation approach, the research highlights the complexity and challenges inherent in fully realizing digital strategies. The primary obstacles include the inability to measure value accurately from investments (32%), a lack of clarity on necessary resources and skills (25%), and a lack of consensus on priorities among leadership (23%).

Asset management has emerged as a critical factor in delivering new services and outcomes as part of a digital transformation, with 36% of respondents emphasizing its importance ensuring reliable and efficient service delivery. This focus is driven by aging infrastructure and increasing asset complexity. Many grid components are well past their intended lifespan and operate under conditions far more severe than they were originally designed for, while the shift to renewables and distributed energy resources adds further complexity.

Other operational areas are referenced in this context with resource optimization cited by 39%; 38% highlighting the need for a robust customer experience strategy, and 36% mentioning field service management.

Carol Johnston, VP of Energy, Utilities and Resources at IFS, commented: “The utilities sector is at a pivotal moment, where AI-driven digital transformation and sustainability are not just trends but imperatives. Our research proves the need for robust data management and AI capabilities to ensure companies make a success of their transformation. But utilities must also embrace a holistic approach, leveraging end-to-end digital tools and fostering strong partnerships to navigate this complex landscape.”

When it comes to executing on digital transformation strategies, composable enterprise platforms which empower businesses to mix and match/assemble different software modules to meet their specific needs are in high demand, with 38% of decision makers seeking such solutions to support their journey. This underlines the need for flexible and modular technology infrastructures as companies look to adapt quickly to changing requirements, while being able to integrate various applications more seamlessly.

Johnston added: “Composable platforms allow enterprises to bring in new functionality as and when required, providing a flexible approach to digital transformation. This reduces complexity and allows companies to adopt technology at their own pace, offering a streamlined solution that integrates various applications seamlessly.”

The research also reaffirmed sustainability as a top priority for utilities businesses, with 46% of respondents currently at the stage of setting timelines and goals for achieving sustainability targets. However, only 31%have hit their first milestones. The key strategies for meeting these goals include improving asset efficiency (43%) and investing in energy-efficient assets (42%).

Sustainability in the utilities sector involves more than just carbon reduction. It includes revenue models, workforce retention, and safe operations. Integrating sustainability across operations ensures resilience and compliance. Johnston added: “We don’t see sustainability as a trade-off, but as an opportunity to create value for our customers and society. Utilities also increasingly understand the importance of accurate data and reliable reports in measuring progress to key sustainability goals and avoiding greenwashing. Effective strategies include optimizing resource use, selecting sustainable suppliers, and engaging customers in programs like energy audits and solar panel installations.”

There is significant importance in connecting four of the core themes from this research: AI, digital transformation, asset management, and sustainability. “Utilities must recognize that these elements are interconnected. By leveraging AI and digital tools to optimize asset management, they can meet sustainability goals more effectively. This comprehensive approach ensures a balanced and strategic transformation journey,” concluded Carol Johnston.

Research conducted by Censuswide in April and May 2024. The research polled 863 C-level executives and VPs from utilities companies specializing in power generation, transmission, distribution, natural gas, and water/wastewater services. Conducted across the UK, US, France, the Nordics, the Middle East, and Australia, it explores critical trends, challenges, and strategic priorities, particularly in digital transformation, sustainability, and customer experience.

About IFS

IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build, and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers – at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 6,000 employees every day live our values of agility, trustworthiness, and collaboration in how we support our 6,500+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.

IFS Recognition

IFS ranked #1 for EAM market share in the Gartner® Market Share: All Software Markets, Worldwide, 2023 report for third consecutive yearGartner® Peer Insights Customers’ Choice 2023 – Cloud ERPIFS named a leader in IDC MarketScape: Worldwide Field Service Management Solutions 2023-2024Top 100 Companies (3rd), The Software Report, 2023

IFS Press Contacts:

EUROPE / MEA / APJ: Adam Gillbe
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com 
Phone: +44 7775 114 856

NORTH AMERICA / LATAM: Mairi Morgan
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com
Phone: +44 7918 607 299

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ifs/r/utilities-globally-prioritize-ai-to-drive-digital-transformation–but-lack-of-collaboration-a-key-fa,c4012876

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AI Wellness Launches “Ask My Avatar Challenge” at CES, Ushering in a Powerful New Way to Engage

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10 hours ago

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January 4, 2025

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Three Stations to Host Interactive Experiences from January 6–11

LAS VEGAS, Jan. 3, 2025 /PRNewswire/ — Assisted Intelligence Wellness (known worldwide as AI Wellness), a global leader in wellness innovation, proudly announces the Ask My Avatar Challenge, a groundbreaking interactive experience taking place during CES 2025. The event will be hosted across three premier locations:

 

IFEZ Innovation StationVenetian VIP SuiteDesert Moon Wellness

This weeklong activation from January 6–11 invites attendees to engage with cutting-edge AI-powered digital avatars representing some of the most influential visionaries in health, fitness, and wellness.

Interactive Wellness at Its Best

The Ask My Avatar Challenge offers attendees the chance to ask questions directly to AI-powered avatars of leading experts in health, wellness, and technology, gaining real-time insights into their fields of expertise.

Participants can also spin the wheel after engaging with the avatars to win big prizes related to health and wellness, further enhancing the interactive experience.

For those who engage with all the avatars across the challenge, grand prizes include:

AI Wellness Powersuit: Revolutionary EMS technology for physical recovery and performance.AI Wellness Smart Ring: Advanced wearable technology that tracks biometrics and optimizes health in real time bundled with our Powersuit until February 15, 2025.XO Sprayer with 1 Vial of Exosomes from JuveXO: A breakthrough in regenerative skincare and healing.30-Day Cellular Reset from Dr. Daniel Pompa: A complete wellness program designed to optimize cellular health and detoxification.Botox Treatment from Dr. Gideon Kwok: A premium aesthetic experience tailored to rejuvenate and refresh your look.Mr. Olympia Jacket: A coveted collectible celebrating excellence in the world of fitness.Potency No. 710 Wellness Products: A range of high-quality plant-based skincare and wellness solutions.

Wellness Prizes You Can Win

Participants will also have the chance to win innovative products, including:

epsolution™️: A premium blend of Magnesium Sulfate Epsom Salt and Siberian Fir essential oil, created by Nick and Nikki Giacara. Learn MoreMr. Lulu Skincare: Targeting pigmentation concerns like dark spots, acne scars, sun damage, melasma, and dull skin. Learn MoreGlobal Healing: Cutting-edge wellness products founded by Dr. Edward Group. Learn MoreSilverceuticals: Advanced silver-based health solutions by Dr. Keith Moeller. Learn MoreRejuran Scar Gel: A revolutionary approach to skincare and healing.Mindbody Matrix Water: A wellness breakthrough by Dr. TK Hyun. Learn MorePneuma Nitric Oxide: Solutions for nitric oxide health by Dr. Nathan Bryan. Learn MoreVisual Healing Experience: A collaboration between Louie Schwartzberg’s Moving Art, Assisted Intelligence Wellness, and Earable Neuroscience.

And more!

Meet the Avatars

Attendees can interact with the avatars of renowned thought leaders, including:

Dr. Daniel Pompa – A Leader in Real Natural Detox Health Solutions.Bernard Hiller – Top Hollywood Acting Coach, providing guidance on social, emotional, and intellectual wellness.Dr. Gideon Kwok – The Lifestyle Architect, specializing in aesthetic wellness and holistic health.Dr. Nathan Bryan – The Father of Nitric Oxide, exploring the science of nitric oxide and its health benefits.Louie Schwartzberg – Visual Healing Innovator, combining art and neuroscience for wellness.Dr. Jessie Cheung – The Vitality Visionary, focusing on sexual wellness and hormonal health.Louis Chabert (Mr. Lulu): Expert in skincare, targeting pigmentation concerns and advancing professional skincare products.Dan Solomon – President of Mr. Olympia, representing the pinnacle of fitness excellence.

Additionally, attendees can engage with avatars from the Top 111 Innovations, each representing cutting-edge solutions and insights into the future of health, wellness, and technology.

Join the Challenge Across Three Stations

The Ask My Avatar Challenge will take place at three distinct locations:

IFEZ Innovation Station: Discover global health innovations and interact with top industry avatars.Venetian VIP Suite: A luxurious setting for engaging with expert avatars and wellness solutions.Desert Moon Wellness: A tranquil space for holistic wellness experiences, open through January 11th, featuring wellness activations that demonstrate how avatars integrate into clinic-like settings.

Our content creators, film crew, social media team, and TV host will be on-site to engage attendees, guide them to the stations, and highlight the interactive elements of the challenge.

What You Can Do With Your Avatar

Creating a digital avatar unlocks endless possibilities:

Real-Time Engagement: Allow clients or customers to interact with your avatar anytime.24/7 Support: Integrate your avatar into platforms for scheduling, customer support, and more.Unlimited Content: Create high-quality, on-demand materials for education and marketing.Global Visibility: Use AI Wellness Screens, interactive platforms, and more to amplify your reach.

Quote from Founder, Abby Aboitiz

“The Ask My Avatar Challenge exemplifies how assisted intelligence and wellness can work together to create meaningful, engaging experiences. By bringing the wisdom of thought leaders and innovators to life through digital avatars, we’re bridging the gap between innovation and education in a way that’s accessible, exciting, and transformative.”

Quote from Dan Solomon, President of Mr. Olympia

“Technology and wellness are converging in incredible ways, and the Ask My Avatar Challenge is a perfect example. The top brands in the world are taking their game to an entirely new level by   By combining innovative tools like digital avatars with the knowledge of industry leaders, we’re shaping a future where fitness and health education are accessible, interactive, and transformative.”

About Assisted Intelligence Wellness (AI Wellness)

Assisted Intelligence Wellness is at the forefront of merging AI with health and wellness. From the Ask My Avatar Challenge to innovative partnerships, AI Wellness redefines how we engage with wellness through immersive digital experiences and cutting-edge technology.

For additional details or media inquiries:
Contact: info@aiwellness.ai
Website: aiwellness.ai

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SOURCE Assisted Intelligence Wellness, Inc.

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MALLINDA LAUNCHES GROUNDBREAKING VITRIMAX™ VHM RESIN, ENABLING ECONOMIC FULL RECYCLABILITY FOR COMPOSITES

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10 hours ago

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January 4, 2025

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DENVER, Jan. 3, 2025 /PRNewswire/ — Mallinda Inc., a pioneer in advanced polymer technology, today announced the commercial launch of Vitrimax™ Versatile Hot Melt (VHM) Resin, a revolutionary vitrimer-based composite resin system that transforms how manufacturers process and recycle high-performance composites. This breakthrough technology combines the superior mechanical properties of thermosets with the processing flexibility of thermoplastics, marking a significant advancement in sustainable manufacturing and, for the first time, enabling economic recyclability and reuse for high-performance composites. Mallinda targets 100% recycling and re-use of production scrap with Vitrimax™ VHM customers, and targets end-of-life circularity programs as well.  Due to molecular-level design for circularity, Vitrimax™ resins and their composites can always be profitably recycled at lower cost than their virgin inputs. Vitrimax™ VHM Resin and carbon fiber composite samples are available for immediate purchase at mallinda.com/shop. For more information about Vitrimax™ VHM and how it can transform your manufacturing processes, visit mallinda.com or contact info@mallinda.com. 

“Vitrimax VHM represents a paradigm shift in composite materials,” said Philip Taynton, CEO at Mallinda. “We’ve successfully bridged the gap between performance and sustainability, offering manufacturers unprecedented flexibility in scalable manufacturing and processing while maintaining the structural integrity demanded by modern applications.”

The launch follows successful commercial-scale production validation, with demonstrated batch consistency at 200L reactor scale and qualification for 2.1 tons per batch manufacturing. One day’s batch could produce 10,000 square meters of composite materials. Recognizing the transformative nature of this technology, multiple Fortune Global 500 companies already collaborate with Mallinda to commercialize VHM resins to their particular requirements.

Key Features and Benefits:

Revolutionary Vitrimer Technology: A new polymer class combining thermoset performance with thermoplastic processabilityInfinite Recyclability: Enables truly circular manufacturing with complete component material recoveryManufacturing Flexibility: Post-cure processing capabilities with tunable glass transition temperatureField Repairability: Parts can be reshaped and repaired on-demand, in the fieldSustainable Solution: Enables economically viable separation and recycling of resin, composite fabric, and integrated components including precious metalsSelf-Healing Properties: Enhanced durability through stress-relief capabilities.

“The industry has long sought a solution that doesn’t compromise between performance and sustainability,” said Eduardo Torres, CEO, MTorres America, “Vitrimax VHM delivers on both fronts, offering a truly circular solution for composite manufacturing.”  

This innovation addresses critical industry challenges, including manufacturing efficiency, waste reduction, and environmental sustainability. The technology enables manufacturers to reprocess scrap material and rejected parts, significantly lowering the overall carbon footprint of their manufacturing processes while maintaining high-performance standards. The product is optimized for the prepreg process and is ready for immediate application in UAV’s, sporting goods, automotive, marine, and aerospace secondary structures. The Vitrimax™ technology platform stands to have outsize impact on wind energy, hydrogen pressure vessels, and urban air mobility.

“The performance and recyclability of Mallinda’s vitrimer chemistry have been validated in multiple academic studies.  Circularity in composites is challenging, but the Vitrimax™ chemistry is likely one of the best places from which to start.” Said Professor Steven Nutt, Director of M.C. Gill Composites Center, University of Southern California.

About Mallinda

Mallinda Inc. is a leading global developer of Vitrimer resin systems and has identified advanced composite materials as the leading emerging market for its technology. Mallinda Inc. is headquartered in Denver, Colorado.

View original content:https://www.prnewswire.com/news-releases/mallinda-launches-groundbreaking-vitrimax-vhm-resin-enabling-economic-full-recyclability-for-composites-302342236.html

SOURCE Mallinda Inc.

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Human In Motion Robotics Invites Media to Experience CES 2025 Innovation Award-Winning XoMotion™ Exoskeleton

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11 hours ago

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January 4, 2025

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VANCOUVER, BC, Jan. 3, 2025 /PRNewswire/ – Human In Motion Robotics Inc. (HMR), a leading innovator in robotic mobility, invites media to visit its booth at CES 2025 and experience XoMotion™, the world’s most advanced medical exoskeleton recently honored with a CES 2025 Innovation Award.

Revolutionizing Rehabilitation Medicine

XoMotion has been recognized for its potential to transform rehabilitation by emulating natural human movement and empowering individuals with mobility impairments through innovation. This cutting-edge exoskeleton offers a leap forward in:

Patient Independence: Enables hands-free, self-balancing movement, fostering a sense of control and improving rehabilitation outcomes.Therapist Support: Reduces physical burden on therapists by assisting with lifting, mobilizing, and training patients, allowing them to focus on personalized care.Versatility: Suitable for various conditions, including spinal cord injury, stroke, and neurological impairments, at different stages of recovery.

Key Features of XoMotion:

Self-Balancing & Hands-Free Operation: Ensures stability and allows natural upper body function.Omnidirectional Movement: Provides true functionality with complex walking motions.Safe & Versatile: Reduces therapist strain and caters to a wide range of patients.

Meet the XoMotion Team at CES 2025

Join HMR at booth 54612 at the Venetian Exhibit Hall D from January 7th to 10th, 2025, to witness XoMotion in action and connect with the team. See firsthand how this innovative technology is empowering individuals and transforming rehabilitation.

Experience the Future of Mobility:

The media are encouraged to schedule a visit to the HMR booth to witness live demonstrations of XoMotion and learn how this cutting-edge technology is revolutionizing human mobility.

Meet Product Ambassador Chloe Angus

A highlight of the HMR booth will be the opportunity to meet Chloe Angus, Director of Lived Experience at HMR. Chloe, an XoMotion ambassador, will be available to share her inspiring story and answer questions from the media.

Meet the Co-Founders of HMR

Siamak Arzanpour, CEO and Edward Park, COO will both be in attendance at CES and will be available for interviews. 

CES 2025

Dates: January 7-10, 2025Location: Las Vegas, NevadaHMR Booth Number: 54612 at the Venetian Exhibit Hall D

To Schedule a Media Visit or to get a copy a link to our full Press Kit please contact:

Phil Astrachan
VP of Marketing
phil@humaninmotion.com
415-310-7466

About Human In Motion Robotics

Human In Motion Robotics is dedicated to enhancing human mobility through advanced exoskeleton solutions. XoMotion is a testament to the company’s commitment to improving patient outcomes and supporting healthcare professionals. Following its recent Canadian regulatory approval, HMR is committed to expanding global access to XoMotion. The company is pursuing regulatory clearances for XoMotion in the US, Asia, and the EU.

View original content to download multimedia:https://www.prnewswire.com/news-releases/human-in-motion-robotics-invites-media-to-experience-ces-2025-innovation-award-winning-xomotion-exoskeleton-302342217.html

SOURCE Human in Motion Robotics Inc.

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