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CIOs Struggle to Define AI Value For Their Business as They Continue to Invest in New Projects

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Tech leaders are divided on whether AI investments should boost productivity, revenue, or worker satisfaction

SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — New research from revenue intelligence leader Gong reveals widely varying viewpoints among CIOs and other tech leaders over how to evaluate the success of AI projects. Surveying over 500 CIOs and heads of IT across the UK and US, the findings illustrate the challenge many businesses face when it comes to strategically implementing AI and the uncertainty in measuring whether those AI investments are paying off.

While over half of CIOs (53 percent) prioritize productivity gains, an equal proportion focus on revenue growth as their key success metrics, with worker satisfaction trailing closely behind (46 percent). This divergence underscores a broader challenge: confusion about where AI can deliver the most business value and a well-defined approach for evaluation.

Key insights from the study include:

Revenue Growth vs. Time Savings: 61 percent of global CIOs believe increased revenue alone justifies AI costs, while 60 percent say that time savings alone will justify costs. Yet, only 32 percent actively measure both, suggesting that many companies still don’t have systems in place to measure and assess the impact on the variables they say matter most.A Growing Interest in Predictive AI: While generative AI attracts much of the buzz around the technology, it is not the clear leader among CIOs in terms of driving value. Fifty-four percent of tech leaders prioritize generative AI, 51 percent prioritize automation, and 31 percent prioritize predictive AI. To capitalize on this discord and deliver value across a broad spectrum, AI models must be tuned to support workflow automation and predictive analytics.Adoption of Domain-Specific Solutions: While nearly three-quarters of tech leaders rely on off-the-shelf large language models (LLMs) as part of their AI investments, 58 percent are utilizing domain-specific solutions. These AI tools are trained on industry- and function-specific data to deliver more precise and measurable results.Security is a Key Obstacle…: Security remains a top priority for 68 percent of tech leaders, but 28 percent admit this is where their AI projects most often fall short.…As is Data Integration: Data integration challenges also threaten project success, with 36 percent of CIOs likely to pause initiatives if implementation complexities arise. Without the right underlying data, AI outputs risk delivering little value or, worse, biased or inaccurate results.AI’s Long-Term Value Persists: Despite mixed measurement strategies, only a small fraction (under 20 percent) cited a lack of provable ROI as a reason to abandon AI initiatives, indicating that most companies continue to explore its potential and long-term value.Smaller companies are more eager to prove ROI: Smaller US firms (250-500 employees) are more ROI-focused, with 40 percent willing to halt projects lacking clear ROI, compared to just 19 percent of larger companies. This suggests that while smaller US firms see the value in investing in AI, they need to focus on initiatives that deliver measurable and immediate returns and have less budget for experimentation. In contrast, larger companies might have more capacity to invest in long-term projects without immediate ROI.

“Over the last two years, the AI hype and pace of innovation has created incredible excitement and confusion for CIOs and tech leaders about its potential and where to focus,” said Eilon Reshef, co-founder and Chief Product Officer, Gong. “But one thing is clear: leaders are pursuing value and exploring different areas across the business where AI can have a transformative impact.”

To learn more about the survey’s findings, read the blog.

Methodology
The research was conducted by Censuswide with 573 CIOs/Heads of IT (aged 25+) in medium and large companies who have purchased an off-the-shelf AI application in the last 2 years across the UK and US (250 and 323 respondents respectively) between October 9 -October 16, 2024. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles. Censuswide are also members of the British Polling Council.

About Gong
Gong transforms revenue organizations by driving business efficiency, revenue growth, and improved decision-making. The Revenue Intelligence Platform uses proprietary artificial intelligence technology to enable teams to capture, understand, and act on all customer interactions in a single, integrated platform. Thousands of companies around the world rely on Gong to support their go-to-market strategies and grow revenue efficiently. For more information, visit www.gong.io.

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SOURCE Gong

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Tabono Capital Announces Strategic Partnership with Invesco to Deliver Enhanced Investment Solutions for UHNW Clients

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November 26, 2024

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SINGAPORE, Nov. 26, 2024 /PRNewswire/ — Tabono Capital today has announced a strategic partnership with Invesco that enhances investment solutions for ultra-high-net-worth clients.

Tabono Capital, a multi-family office based in Singapore, collaborates with Invesco, a global investment management leader with over US$1.7 trillion in assets under management. This partnership merges Invesco’s institutional-grade investment expertise, cutting-edge portfolio solutions, and comprehensive research capabilities with Tabono Capital’s strong relationships with ultra-high-net-worth (UHNW) families across the Asia Pacific and Middle East regions.

This collaboration enables Tabono Capital’s clients to benefit from the extensive resources and scale of Invesco’s capabilities. For Invesco, the partnership provides enhanced access to sophisticated investors in key growth markets.

Key elements of the partnership include:

Implementation and construction of model portfolios and asset allocation frameworksAccess to institutional-grade investment research and comprehensive market insights for UHNW clientsKnowledge sharing and collaboration on market intelligence and investor insights

Nirish Unni, CEO & Co-Founder of Tabono Capital, emphasized the significance of the partnership: “This partnership represents a significant milestone in our growth strategy. By leveraging Invesco’s world-class investment research and asset allocation capabilities, we can provide our clients with institutional-grade investment solutions while maintaining the personalized service they expect from a boutique multi-family office.”

Santosh Rao, Co-Founder and Chief Revenue Officer of Tabono Capital, added: “Our clients increasingly seek institutional-quality investment solutions with global reach. This collaboration with Invesco allows us to deliver exactly that, while maintaining our personalised approach to client service. Together, we will create portfolios designed to capture opportunities in key global markets while effectively managing risk.”

Christopher Hamilton, Asia Pacific Head of Client Solutions for Invesco, stated: “We’re proud to partner with Tabono Capital to bring our industry-leading offerings and capabilities to Asia’s expanding family office and UHNW segment. This is a compelling platform for investors to access comprehensive strategies that can help them meet their financial goals.”

About Tabono Capital

Tabono Capital is a multi-family office headquartered in Singapore, licensed by the Monetary Authority of Singapore (MAS) to provide Fund Management services. Co-founded by industry veterans and former private wealth managers Nirish Unni and Santosh Rao, the firm caters to ultra-high-net-worth families across the Asia Pacific and MENA regions, offering comprehensive wealth management and family office solutions. For more information, visit https://tabonocapital.com

Contact: team@tabonocapital.com

About Invesco

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. With offices in more than 20 countries, our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. For more information, visit www.invesco.com/corporate.

Logo: https://mma.prnewswire.com/media/2566576/Tabono_Capital_Logo.jpg

 

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RedDrop Wins the $1 Million Dollar Grand Prize from Pharrell Williams’ Black Ambition to Empower Period Care Innovation in Teen-Focused Wellness

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November 26, 2024

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ATLANTA, Nov. 25, 2024 /PRNewswire/ — RedDrop, a rising star in the wellness industry for its innovative period care products for tweens, is proud to announce that it won the $1 Million Dollar Grand Prize from Black Ambition.

In 2020, Pharrell Williams founded the non-profit organization Black Ambition to support Black and Hispanic Entrepreneurs to fuel future founders. This year celebrates its 4th Annual Black Ambition Demo Day, where over 250 guests gathered to hear eight finalists’ pitches and celebrate the brilliance of Black and Hispanic entrepreneurs. The event was supported by Visa, Comcast, Lennar Foundation, Louis Vuitton and Adidas. The panel of four judges, which included Lisa Price, Founder of Carol’s Daughter; Pinky Cole, Founder of Slutty Vegan; Matt Story, Vice President, Global Brand Integrated Marketing at Visa; and Erik Moore, Founder & Managing Director, Base Ventures determined the top winners to an enthusiastic audience.

As one of the few brands chosen for this highly competitive program, RedDrop will benefit from Black Ambition’s extensive mentorship network, funding, and resources to amplify Black and Hispanic founders and their brands. With a focus on providing personalized wellness solutions and empowering tween girls, RedDrop is excited to partner with industry leaders to scale its impact and reach new audiences. 

“We’re beyond thrilled to be the grand prize winners of this year’s Black Ambition Prize Competition! Having $1 million to invest in our business is life-changing and will give us opportunities to grow and continue to impact our community,” said Dr. Monica Williams, Co-Founder and CEO of RedDrop. “And while the prize money is great, the mentorship and network provided by Black Ambition is priceless and will allow us to open doors that were previously closed and to start building our own table so we can invite others to have a seat.”

One of Black Ambition’s key initiatives is to encourage and support Black and Hispanic founders with funding, mentorship, and network support as each founder develops their footprint in their industries. Black Ambition has awarded over $2.7 million to 30 trailblazing founders across AI, Consumer Products and Services, Healthcare, Media & Entertainment, and Tech. In addition to the $1 Million grand prize, RedDrop will have access to industry veterans, office hours with investors and senior leaders, exclusive invitations to retail partnership meetings, wellness and executive coaching, and more for the next six months. 

Through access to industry veterans, strategic insights, and capital support, RedDrop is poised to take its mission to new heights while promoting wellness solutions that resonate with diverse and underrepresented communities. RedDrop’s inclusion in the Black Ambition network marks a significant milestone in the company’s journey to revolutionize how tween girls connect with wellness products that align with their unique needs and values.

To connect and learn more about RedDrop, please visit www.tryreddrop.com. Follow us on  Instagram (@reddrop), Facebook (@reddropco), Youtube (@tryreddrop), X (@reddrop) and TikTok (@reddropco) to stay up to date with us.

About RedDrop
RedDrop is a wellness brand committed to creating inclusive and innovative period products for tween girls to feel their best during their new stage of life. With a focus on properly sized period products and education-backed solutions, RedDrop is revolutionizing the way consumers approach health, wellness, and self-care.

Media Contact
Sterling Jones
Marketing and Communications Specialist
media@reddrop.co
www.tryreddrop.com

Photos: Getty ImagesJason MendezBlack Ambition

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SOURCE RedDrop

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Chaaat.io to Release Bookingz, a Booking Personal Assistant to Streamline Appointment Scheduling

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28 minutes ago

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November 26, 2024

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HONG KONG, Nov. 26, 2024 /PRNewswire/ — Chaaat.io, an emerging leader in providing user-friendly tools for customer acquisition, engagement, and retention, is excited to announce the launch of its latest feature: Bookingz.

Designed to deliver a seamless booking experience, Bookingz allows users to schedule appointments entirely through WhatsApp. This launch arrives at a time when businesses and individuals are increasingly seeking efficient ways to interact with customers on platforms they use daily, as communication channels like email are dwindling in performance. WhatsApp, with its 2 billion active users, has become a central communication hub for both individuals and businesses. Bookingz enables businesses of all sizes to offer efficient, convenient appointment booking directly through WhatsApp.

Simplifying Making Bookings

Bookingz transforms the customer journey in several key ways. Businesses that sign up with Bookingz can send a WhatsApp link to their customers, who can then experience a fully streamlined booking process that stays within WhatsApp, eliminating the friction of switching between apps or websites.

Bookingz manages the process on behalf of the business, eliminating the need for the business owner or representative to tediously go back and forth suggesting availabilities. Users can simply request availabilities and then confirm a booking, all from the safety of WhatsApp.

Bookingz also delivers a much higher click-through and booking rate than email. The platform leverages WhatsApp’s high open rates – roughly 80-90%, compared to the meager 5% standard open rates offered by email, to send reminders and follow-ups that customers are more likely to see, ensuring appointments are top-of-mind and helping avoid no-shows and last-minute cancellations.

Keeping things in one place

Beyond streamlining the booking process, Bookingz enhances customer engagement by staying within the familiar and trusted space of WhatsApp. This user experience approach increases booking rates by reducing the enormous friction that business owners will see with alternative booking solutions that force customers to download apps, sign up and/or log in.

End users can make a booking with businesses by sending a WhatsApp message, with the assistant guiding them through each step in real time. Whether booking an appointment, scheduling a consultation, or arranging a meeting, customers can request and secure bookings without leaving the app. For businesses, this user-friendly design requires no technical skills and can be launched with just a few clicks.

The Future of Customer Interaction

With the launch of Bookingz, Chaaat.io is setting a new standard for customer engagement and service. By simplifying the process of offering booking services through WhatsApp, Chaaat.io is reshaping the accessibility of booking automation. This democratization of business tools allows even the smallest companies to leverage advanced features and deliver exceptional customer experiences.

As businesses prioritize customer experience and seek personalized, convenient interactions, Chaaat.io‘s innovations are poised to influence how SMEs communicate with customers around the world. Bookingz is just one of many Chaaat.io features designed to help companies strengthen customer relationships, enhance engagement, and drive revenue growth.

In today’s evolving digital landscape, tools like Bookingz are essential for any modern, customer-focused business to keep up with modern customer behavior.

For more information or to join the wait list, contact James Hogan at support@chaaat.io

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SOURCE chaaat.io

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