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New EY Consumer Products and Retail Executive Pulse reveals perception vs. reality gap for AI maturity

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52% of executives rate their company a 4 out of 5 in terms of artificial intelligence (AI) maturity (with 5 being considered “most mature”) yet an equal number note that the rapid introduction of new and emerging technology keeps them up at night.47% of leaders plan to increase investment in generative AI (GenAI) or AI machine learning (ML) in 2024 (up from 31% in 2023).Nearly half of consumer packaged goods (CPG) executives say supply chain and procurement transformation will create the most value in the coming year.

NEW YORK, July 10, 2024 /PRNewswire/ — Ernst & Young LLP (EY US) today announced the release of its second Consumer Products and Retail Executive Pulse, which highlights the pressure that CPG and retail leaders are under to showcase AI proficiency, with a continued focus on technology modernization and innovation investment and identifying new levers for growth.

The Pulse, which surveyed over 250 US executives in the retail and CPG industries, found that 74% of leaders consider their companies to be AI mature (rating themselves a 4 or 5 out of 5). But the anxiety surrounding the pace of AI coupled with where companies are from an investment standpoint, may call that perspective into question. Fifty-two percent still note that the rapid introduction of new and emerging technology keeps them up at night. Plus, strategic investments are just now starting to ramp up as 47% of executives plan to increase investments in GenAI or ML in the next year, which is up from 31% from the Pulse at the end of 2023.

“AI’s incredible opportunity offers CPG and retail executives the ability to mine data, create new efficiencies and streamline operations in ways never before imagined, and at the same time drive new paths to growth and innovation. But AI and GenAI technologies are still emerging and although investment in this area can create differential value, progress can’t happen overnight,” said Rob Holston, EY Americas Consumer Products Sector Leader.

“We’re still seeing many brands and retailers in the use case testing phase, and they have to balance the pressure for progress with the reality of the journey to a responsible, strategic and long-term AI agenda,” continued Mark Chambers, EY Americas Retail Sector Leader.

The use cases for AI are compelling, with 41% of the retailers and brands navigating shrink challenges saying AI and enhanced predictive analytics are the most effective solution, more than any other prevention method. Further, one in three (33%) of executives are using AI to drive more personalization in the customer experience, improve decision support across forecasting and scenario planning and for customer service chatbots. But the opportunity to embed AI to accelerate the strategic agenda could be even bigger.

Additional findings from the Pulse include:

As profitability and margin pressures persist as the top source of anxiety (53%), leaders look to supply chains as a source of value.
Supply chain continues to take center stage, as leaders, especially at CPG companies, understand the value it will bring to their organizations. In fact, 47% of CPG leaders think supply chain transformation will create the most value at their organizations in the next six to 12 months, compared to only 27% of retail executives. At the same time, when asked the top three areas they plan to invest most, supply chain operations (21%) fall out of the running for CPG leaders, falling behind inventory loss (43%), talent (40%), technology (36%), D2C (34%) and more. While the supply chain can help drive and improve cost optimization in the short term, with 45% of CPG leaders saying they are trying to create a more efficient supply chain, it’s also important to think about the long-term, where supply chain can be leveraged as an integral growth driver. 

“Historically, the supply chain has been viewed as a lever to take cost out of the business for many CPG leaders,” says Holston. “But supply chain transformation represents a considerable growth opportunity as companies look to drive increased volumes, innovate and open new revenue streams.”

Cost optimization has been high on the retail and CPG agenda for years, but we’re seeing companies pivot from cost to growth.
Investing more in revenue growth opportunities bubbles to the top of CPG company (57%) and retailers (43%) approaches to responding to the current economic environment. In fact, 66% of CPG and retail leaders plan to make significant investments in alternative revenue streams in the next two to three years.

You can’t talk AI without talking data.
Leaders are doubling down on data to drive profit and create customer loyalty. Forty-two percent of executives believe the shift to online shopping has impacted their business strategy by adding more rigor and investment in consumer data. However, when it comes to data, security must remain top of mind, with 25% of leaders increasing investments in cybersecurity and 31% agreeing that data security matters most for consumer experience in 2024.

“Retailers understand the immense value and potential of consumer data to drive customer lifetime value. However, an ongoing paradox remains. Consumers are still hesitant, in some cases, when it comes to the safety of data sharing,” says Chambers. “With data powering everything from inventory and merchandising to store and e-commerce experiences as well as the technology and AI applications that enable them, the companies coming out ahead are those that are able to capitalize on data without risking consumer trust.”

For more information, visit ey.com/en_us/consumer-products-retail.

Survey methodology

Ernst & Young LLP commissioned Atomik Research to conduct an online survey of 254 executives from Fortune 1000+ CPG and Retail companies throughout the United States. The sample consists of executives within the consumer-packaged goods and retail industries who hold a title of vice president or higher at their organization.

Fieldwork took place between May 10 and June 3, 2024. The margin of error is +/- 6 percentage points with a confidence level of 95 percent.

About EY

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US.

Media contact:
Julia Menefee, EY
julia.peters@ey.com 

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CMC Japan Opens Third Office: A Major Step In AI Transformation and Business Expansion

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HANOI, Vietnam, Sept. 23, 2024 /PRNewswire/ — On September 18, CMC Japan – the Japanese subsidiary of CMC Global celebrated the opening of its third office in Tokyo –  a key milestone in its 7-year journey of bringing Vietnamese technology to Japan. This expansion highlights CMC Japan’s leadership in advancing the “AI-X” strategy, further solidifying its position following its membership in the Japan Business Federation (Keidanren). 

Under the theme “Enable Your AI-X,” the inauguration ceremony of CMC Japan‘s third office was held at the Gajoen Tokyo Hotel, Japan, underscoring CMC’s efforts to accelerate the global “AI Transformation” Strategy for the 2024-2028 period. The new office is a pivotal step in executing this ambitious vision. 

Presenting about the AI Transformation Strategy, Mr. Nguyen Chung Chinh Chairman/CEO of CMC Corporation, stated: “Japan has been a cornerstone in CMC’s global expansion strategy for over three decades. Our achievements in Japan have paved the way for further growth in challenging markets like the U.S. and Europe. Opening our third office here marks a significant moment in our journey, reaffirming CMC’S dedication to leading AI transformation and providing cutting-edge solutions that empower clients in their digital transformation and AI-driven optimization.” 

On this occasion, CMC Japan also announced its membership in Keidanren, one of the most influential organizations in Japan’s foreign economic relations and economic policy development. This opens the door to strategic collaboration with leading corporations and reaffirms CMC’s commitment to contributing to Japan’s socio-economic development through advanced AI solutions. 

 

 

 

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TECNO SPARK 30 Series Launches with TRANSFORMERS Edition, Converting Next-level Fluency and Durability

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HONG KONG, Sept. 22, 2024 /PRNewswire/ — Innovative technology brand TECNO announces the debut of its latest smartphone, the SPARK 30 Series, featuring a dynamic lineup of five models including the exciting SPARK 30 Series TRANSFORMERS Edition. The new series brings revolutionary durability and playability with 5-year guaranteed lag-free performance, more immersive audiovisuals, an incredible main camera and much more.

The SPARK 30 Series features a special TRANSFORMERS Edition, under license by TRANSFORMERS brand from leading toy and game company Hasbro, made up of SPARK 30 Pro Optimus Prime Edition and SPARK 30 Bumblebee Edition. In addition to powerful performance, these special devices feature iconic TRANSFORMERS elements, delivering iconic design, entertainment, and interaction like never before.

“The SPARK 30 Series is poised to revolutionize the smartphone experience, offering a symphony of unparalleled features and a coveted exclusive TRANSFORMERS Edition,” said Jack Guo, General Manager of TECNO. “With continuous enhancements to the SPARK Series, we are ensuring that vibrant, tech-savvy youth to embrace and revel in the power of our innovations to create new possibilities.” 

Creating Seamless Fluency and Durability Assured by a 5-year Lag-free Commitment

The SPARK 30 Series gives users long-lasting value for money. Certified by TÜV Rheinland, SPARK 30 Pro offers incredible 5-year lag-free operation, standing out in its class as a must-have device for a seamless experience.

Making everyday use even smoother, the SPARK 30 Series is equipped with exceptional battery capacity, impressive storage and powerful performance, with battery health at 80%+ enduring after 1,000 charge cycles. The SPARK 30 Pro’s convenient 33W Fast Charge offers 3 intelligent charging modes and can charge the device from 0-100% in approximately 70 minutes. The SPARK 30 Series offers up to 256GB+16GB (8GB Extended RAM) storage with a system slimming feature that frees up ROM space. The SPARK 30 Pro is powered by MediaTek Helio G100 processor, boasting an Antutu score over 420,000, adding to the fluid performance even more.

With super WIFI and ultra-fast 4.5G Lightning Network, consumers can enjoy enhanced online smoothness. The 4.5G Lightning Network on SPARK 30 Pro delivers speeds up to 100% faster than 4G, with download speeds reaching up to 300Mbps, while super WIFI sets internet speeds apart in a crowd, improving ability to access networks by 616% compared to without this feature. Leveraging its exceptional performance, the SPARK 30 Series demonstrates power and durability akin to that of the formidable TRANSFORMERS robots.

Inspiring with a Design Rebirth Full of the Transformers’ Visual Splendor

Complementing its ultimate performance, the TECNO SPARK 30 Series features a trendy, sleek and tech-infused design. The SPARK family’s signature large circular design is now enhanced and refined for a more streamlined appearance. With a 7.4mm ultra-thin body, the SPARK 30 Pro embraces the emerging minimalist technology trend, bringing an unprecedented grip experience in-hand. With evolved Magic Skin 3.0, it provides a blend of soft plush and premium leather with an ultra-refined texture.

Taking inspiration from the unstoppable TRANSFORMERS robots, Optimus Prime and Bumblebee, the SPARK 30 Series TRANSFORMERS Edition infuses technology with a Cybertronian-inspired design texture.  The integrated DECO design crafted with a metallic sheen and precision color coordination, adding a vibrant look while paying homage to the resilience of the iconic characters. Additionally, the edition debuts a customized interface adorned with TRANSFORMERS motifs, bringing the iconic world to life and providing a dynamic platform for users of all ages to express their love for the franchise.

Captivating with an Exceptional Audiovisual Entertainment Experience

The SPARK 30 Series creates an immersive entertainment space for users through vibrant audiovisual experiences. The SPARK 30 Pro, which features 120Hz AMOLED Eye-care Screen recognized by TÜV Low Blue Light Eye certification, delivers vivid images while providing an eye-friendly experience. The 100% full-link DCI-P3 cinema-level color gamut and 10bit color depth bring a broader color range and more accurate color expression for entertainment and enjoyment.

On the audio front, the SPARK 30 Series provides symmetrical stereo sound. With Volume Plus 2.0 algorithms and a Dual Speaker, the SPARK 30 Pro delivers up to 300% full-scene louder volume for an immersive and balanced sound. The addition of Dolby Atmos and Hi-Res certified speakers significantly enhances entertainment quality.

Furthermore, the SPARK 30 Series is also equipped with the Infrared Remote Control for 15 household devices, allowing intelligent control of home life, enabling a personalized space at will.

On the camera front, the SPARK 30 Pro boasts a 108MP main camera, complemented by 3x lossless zoom and 10x digital zoom, delivering finely tuned images no matter the distance. The SPARK 30’s SONY IMX682 Main Camera with 64MP, offers larger pixels, greater detail, and increased cropping flexibility. Equipped with TECNO AI, the SPARK 30 Series offers an array of advanced AI-driven features, including AIGC portrait, AI Eraser and AI Artboard, enhancing your productivity and creativity.

Lead by the masterful SPARK 30 and SPARK 30 Pro, the new SPARK 30 Series also features the exceptional SPARK 30C, SPARK 30 5G and SPARK 30C 5G. As well as a groundbreaking special edition device, the TRANSFORMERS collaboration adds a further layer of excitement for energetic youth, with exclusive branded merchandise and gift sets also available.

About TECNO

As a global innovative technology brand with operations in over 70 markets, TECNO has been committed to revolutionizing the digital experience in global emerging markets, relentlessly pushing for the perfect integration of contemporary, aesthetic design with the latest technologies. TECNO offers a wide range of smartphones, smart wearables, laptops and tablets, HiOS operating systems and smart home products. Guided by its brand essence of “Stop At Nothing”, TECNO is committed to unlocking the best and newest technologies for forward-looking individuals, inspiring them to never stop pursuing their best selves and their best futures. For more information, please visit TECNO’s official site: www.tecno-mobile.com.

ABOUT HASBRO 

Hasbro is a leading toy and game company whose mission is to entertain and connect generations of fans through the wonder of storytelling and exhilaration of play. Hasbro delivers play experiences for fans of all ages around the world, through toys, games, licensed consumer products, digital games and services, location-based entertainment, film, TV, and more. With a portfolio of over 1,800 iconic brands including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, Hasbro Gaming, NERF, TRANSFORMERS, PLAY-DOH and PEPPA PIG, as well as premier partner brands, Hasbro brings fans together wherever they are, from tabletop to screen. 

Hasbro is guided by our Purpose to create joy and community for all people around the world, one game, one toy, one story at a time. For more than a decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media, one of the World’s Most Ethical Companies by Ethisphere Institute and one of the 50 Most Community-Minded Companies in the U.S. by the Civic 50. For more information, visit https://corporate.hasbro.com or @Hasbro on LinkedIn. 

ABOUT TRANSFORMERS 

The TRANSFORMERS brand is a global powerhouse franchise with millions of fans around the world. Since 1984, the battle between the Autobots and Decepticons has come to life in movies, TV shows, comic books, innovative toys, and digital media, bringing incredible “MORE THAN MEETS THE EYE” experiences to fans of all ages. The brand’s enduring connection is made possible by its rich storytelling and characters: the heroic Autobots who seek to protect all life.

 

 

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DeepL unveils industry-first Glossary Generator to solve business communication and brand consistency challenges

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Enhanced DeepL glossary functionality – including new glossary generator, expanded language support and more – will boost global business translations, saving time, effort, and costs

COLOGNE, Germany, Sept. 23, 2024 /PRNewswire/ — DeepL, a leading global Language AI company, today announced several updates to its glossary feature, which is a powerful tool that enhances translation consistency and accuracy by enabling professionals and companies to personalize translations for specific terms. The tool now offers the industry’s first smart glossary generator, which helps simplify and speed up the process of creating glossaries for translations. Glossary is also available in several new languages and within DeepL’s browser extensions and integrations, fitting seamlessly into existing workflows to offer an even more accessible and smooth user experience across the web and applications like Google Workspace and Microsoft 365.

“AI-powered translations are essential for businesses looking to overcome language barriers in today’s increasingly connected world, and DeepL’s powerful glossary tool takes this a step further by ensuring translations are personalized to a company’s unique phrases and needs,” said Christopher Osborne, VP of Product, DeepL. “We’re always looking for ways to improve the DeepL experience and drive even more value and ROI for 100,000+ customers worldwide, and these new capabilities make our glossary even more efficient, accessible and user-friendly – empowering teams to achieve the customization and consistency they are looking for, while minimising time spent on costly alternatives like manual translations or find-and-replace tools.”

For global businesses aiming to drive revenue growth, investing in brand consistency across all communications and languages is essential to ensure that every message—whether technical terminology, product names, or branded terms—resonates clearly with teams, customers, and markets worldwide. Consistent branding has been proven to increase revenue by 20% or more[1] and enhance visibility by 3 to 4 times[2] – however, maintaining this consistency can be expensive and complex. DeepL’s glossary tool simplifies this process, helping businesses and professionals easily create and scale high-quality, consistent multilingual communications across teams. With glossary, companies can create and manage custom translation glossaries to ensure that specific words or phrases are translated consistently according to their unique terminology.

DeepL’s glossary now offers the following expanded capabilities:

The industry’s first smart, AI-powered glossary generator: DeepL’s new glossary generator is a first-of-its-kind tool enabling teams to create custom translation glossaries with a simple file upload. Previously translated files can be leveraged to generate entries for personalized DeepL glossaries, reducing the need for manual work and significantly enhancing efficiency, enabling teams to facilitate more consistent communication at scale.Expanded glossary language functionality: Glossary now supports Korean, Danish, Swedish, Norwegian, and Romanian translations, bringing the total number of languages to 16. This allows for more precise and nuanced translations across a wider range of linguistic contexts, helping businesses reach a broader audience.More convenient access across DeepL platforms: Users are now able to access and apply the glossary directly within the DeepL browser extensions for Chrome and Edge, enabling consistent translations across the web, including Google Workspace applications. Furthermore, the glossary can now also be applied directly within DeepL for Microsoft 365 integrations, including Word, Outlook, and PowerPoint. Additionally, the glossary can be accessed through DeepL’s web browser, desktop apps, and API.

Unlike other find-and-replace tools, DeepL’s glossary excels with its advanced contextual understanding and ability to process complex grammatical elements—such as case, gender, and tense—to deliver nuanced, natural-sounding translations. This results in substantial productivity gains, largely due to the time saved in post-editing. Blind tests with language experts show that DeepL reduces post-editing time by 30% compared to Google Translate and 20% compared to Chat GPT-4. Furthermore, DeepL requires significantly fewer edits, with Google Translate and Chat GPT-4 needing two to three times as many feedback rounds.

Glossary with DeepL Pro also offers enhanced data security, including proprietary data centers, the highest level of certification and compliance standards (ISO 27001 certification, GDPR/SOC 2 type 2 compliance), data encryption, and a commitment to never using Pro customer data to train models.

DeepL’s glossary generator is now available to Pro Advanced and Ultimate subscribers with support for TMX/DOCX/PDF files. It is initially available for glossaries in German, Spanish, Japanese, Italian, French, and Russian (to and from English), with more languages coming soon.

Learn more about DeepL Pro and try out glossary yourself here.

About DeepL

DeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses and governments and millions of individuals in 228 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets, and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP, and Index Ventures.

[1] Marq, “2021 Brand Consistency Report”
[2] Demand Metric x Lucid Press, “Impact of Brand Consistency” Report, 2016

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