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UCLA Anderson Forecast Issues a Recession Watch

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Historically, recessions occur when multiple economic sectors contract at the same timeCurrent factors to consider include: a slow-down in the manufacturing sector; reductions in work force because of immigration policy; and cuts in federal government employment

LOS ANGELES, March 18, 2025 /PRNewswire/ — A newly released analysis of the Trump administration’s economic policies leads the UCLA Anderson Forecast to issue a recession watch. While there are no signs of a recession happening yet, it is entirely possible that one could form in the near term. Authored by UCLA Anderson Forecast economist Clement Bohr, the study delineates the factors that led to this watch.

From the post-Civil War recession of 1873 to today, recessions have occurred when multiple economic sectors contract at the same time. The new study notes that:

The current reduction in the work force resulting from new immigration policy will create labor shortages in agriculture, health care, leisure and hospitality, and construction.The new tariff policy will engender higher prices for automobiles, apparel, electronics and the inputs to manufacturing.The downsizing and restructuring of the federal government will reduce employment in government and at government contractors.

If these, and their consequent feedback into the demand for goods and services, occur simultaneously, they create a recipe for a recession. However, If the impact of these policies is sequential, then a 1995-style slowdown might be possible. As this trifecta of dramatic policy changes has not been experienced before, there is no data to indicate which will happen. Consequently, the Anderson Forecast is on recession watch.

About UCLA Anderson Forecast
UCLA Anderson Forecast is one of the most widely watched and often-cited economic outlooks for California and the nation and was unique in predicting both the seriousness of the early-1990s downturn in California and the strength of the state’s rebound since 1993. The Forecast was credited as the first major U.S. economic forecasting group to call the recession of 2001 and, in March 2020, it was the first to declare that the recession caused by the COVID-19 pandemic had already begun.
uclaforecast.com

About UCLA Anderson School of Management
UCLA Anderson School of Management is a world-renowned learning and research institution. As part of the nation’s No. 1 public university, its mission is to advance management thinking and prepare transformative leaders to make positive business and societal impact. Located in Los Angeles, one of the nation’s most diverse and dynamic cities and the creative capital of the world, UCLA Anderson places more MBAs on the West Coast than any other business school, and its graduates also bring an innovative and inclusive West Coast sensibility to leading organizations across the U.S. and the world. Each year, UCLA Anderson’s MBA, Fully Employed MBA, Executive MBA, UCLA-NUS Executive MBA, Master of Financial Engineering, Master of Science in Business Analytics and doctoral programs educate more than 2,000 students, while the Executive Education program trains an additional 1,800 professionals. This next generation of transformative leaders will help shape the future of both business and society.
anderson.ucla.edu

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Meta, Bauhaus, Lukfook Jewellery and SMCP unveiled WhatsApp and conversational AI strategies with Omnichat

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Utilise WhatsApp as a strategic business channel to create personalised, real-time customer journeys, leveraging different message categories and automation supported by Meta to enhance brand presence and drive measurable business resultsHarness the power of conversational AI agents, WhatsApp Flows, customer loyalty initiatives and social ad optimisation with Omnichat to engage customers across the entire lifecycle, boost conversions and maximise ROIBauhaus deployed a 24/7 WhatsApp chatbot, driving online users to offline stores via targeted broadcasts and coupon offers, resulting in a significant uplift in engagement and conversion ratesLukfook Jewellery leveraged WhatsApp and Omnichat to offer 1-on-1 virtual shopping service, fostering a sense of personalised service and opening a new revenue channel for remote salesSMCP consolidated marketing and sales communications on WhatsApp, supporting its omnichannel strategy across Hong Kong and Southeast Asia, and facilitating data-driven analysis to optimise remarketing efforts and boost sales performance

HONG KONG, March 26, 2025 /PRNewswire/ — Omnichat, a leading omnichannel AI customer experience platform offering conversational commerce solutions, recently hosted a highly scalable conference titled “Revolutionising Customer Experiences with AI”. The event explored how businesses can leverage WhatsApp and conversational AI to transform customer interactions and drive business growth, featuring insights shared by industry experts from the global social media giant Meta, the fashion apparel, bags and accessories retailer Bauhaus (whose key in-house labels include SALAD and TOUGH), the prominent jewellery retailer Lukfook Jewellery, and the international fashion group SMCP (owner of Sandro, Maje, Claudie Pierlot and Fursac).

Omnichat, a Meta Business Partner,  explained how to leverage WhatsApp Flows into marketing campaigns, enabling businesses to create, develop, and personalise customer experiences. They also announced new AI-powered solutions designed to help businesses deliver seamless, personalised customer experiences on WhatsApp at the event. Key features of the platform include an AI Customer Service Agent that provides 24/7 support and personalised issue resolution across integrated channels; an AI Marketing Copilot Agent to streamline campaign creation, from audience targeting and content generation to customer journey design; and an AI Sales Agent that boosts conversion rates by delivering tailored product recommendations and simplifying the sales process within customers’ preferred messaging platforms. “Our ‘Agentic AI as a Service’ platform goes beyond simple automation,” explained Alan Chan, Founder and CEO of Omnichat. “It enables brands to create intelligent workflows that anticipate customer needs and drive meaningful engagement across the entire customer lifecycle.”  The updated platform integrated enhanced loyalty programme on WhatsApp and social ad optimisation, streamlining customer re-engagement and maximising marketing ROI.

The widespread adoption of WhatsApp in Hong Kong—used daily by 85% of consumers (according to research by Kantar)—creates a unique opportunity for businesses to connect with customers throughout the entire customer journey. Vicky Yiu, APAC Strategic Partnership Manager of Meta, shared, “WhatsApp is for the next era of customer engagement. A well-defined WhatsApp strategy can drive significant business outcomes, from reaching customers at scale with ads that click to WhatsApp, to delivering targeted marketing messages and creating personalised in-thread experiences, all the way to streamline the conversion process.” Vicky further explained how WhatsApp Flows, APIs and automation, in conjunction with solutions like Omnichat’s, enable businesses to automate processes, provide 24/7 customer support, gain a deeper understanding of customer preferences through conversations, and ultimately build stronger, more personal relationships through WhatsApp business messaging.

Bauhaus, a multi-brand fashion and lifestyle retailer, has leveraged WhatsApp and Omnichat to achieve significant success in driving online-to-offline (O2O) sales and enhancing customer engagement. “WhatsApp has enabled us to achieve increased sales, improved customer support efficiency, and more optimised marketing campaigns,” stated Frances Wong, Managing Director of Bauhaus. “We have seen a 3x increase in leads and a 50% reduction in lead acquisition costs through ads that click to WhatsApp.  Furthermore, our WhatsApp coupon campaign drove significant online-to-offline traffic, with a remarkable 65% redemption rate.” Frances added that their WhatsApp strategy, powered by Omnichat, has also enabled Bauhaus to improve customer support efficiency, with the chatbot automating 93% of initial customer interactions. Building on this success, Bauhaus is now exploring further WhatsApp features, including points-based loyalty programs, interactive gamification and WhatsApp catalog and payment, to deliver even more engaging customer experiences.

Lukfook Jewellery has successfully integrated online and offline experiences by leveraging Omnichat to offer 1-on-1 virtual shopping services on WhatsApp. This allows customers to browse jewellery collections from the comfort of their homes while receiving the personalised attention of a dedicated consultant. “Personal interaction is crucial when selling high-value jewellery,” explained Nash Chan, Senior E-Commerce Manager of Lukfook Group. “WhatsApp broadcasts, coupons, and interactive games allow our consultants to maintain a personal connection with clients, even remotely, and uphold our ‘Six Heartfelt Services’ commitment.” He cited a Chinese New Year campaign that distributed 2,000 ESG-friendly coupons via WhatsApp, achieving a redemption rate exceeding 16%. Nash also praised the speed of WhatsApp restock notifications for driving conversions, and the effectiveness of WhatsApp chatbot for handling 70% of initial customer enquiries. Additionally, Omnichat’s product referral links seamlessly direct customers from WhatsApp to Lukfook’s e-shop. The ability to track sales revenue for each consultant provides valuable performance data and motivates the sales team to deliver exceptional service.

SMCP, the international fashion group, leveraged Omnichat’s WhatsApp Business Platform solutions to transform its customer engagement strategy across Hong Kong and Southeast Asia. This strategic move consolidated all WhatsApp communications for its Sandro and Maje branches onto a single platform, providing flexibility in transferring chats between different sales associates or stores, centralised management, and valuable data insights. “Our focus is on personalised 1-on-1 service, both pre- and post-sale, and on understanding our customers through data,” mentioned Howell Wong, Regional Director of Transformation and Operations of SMCP. “By analysing customer data and browsing behaviour, we create targeted segments for WhatsApp broadcasts, delivering tailored offers that have driven click-through rates of over 14%, compared to 3-6% for email. This approach has also resulted in a noticeable increase in traffic to both our e-shop and physical stores, optimising our marketing spending and efforts.” Additionally, having customer preferences and data stored in the Omnichat’s system ensures that valuable insights are retained, even with staff movements. With engagements based on customer tags, SMCP can tailor personalised interactions to individual preferences, enhancing customer satisfaction and loyalty. Howell also stated that the group is also taking the next step by exploring AI-powered personal shoppers, further elevating its personalised service approach.

The insights and strategies shared at the seminar highlighted how conversational commerce, and even AI, can effectively optimise customer interactions. Success stories from several leading brands clearly demonstrated how WhatsApp, Facebook Messenger, and Instagram Direct are reshaping the way businesses communicate with customers, setting a new standard for excellent customer experiences.

About Omnichat:

Founded in 2017 and headquartered in Hong Kong, Omnichat is a leading provider of AI-powered conversational commerce solutions for the Asia-Pacific region. Uniquely positioned as the sole Meta Business Partner and LINE Biz-Solutions Tech Partner in APAC with integrated WhatsApp, Facebook, Instagram, LINE, WeChat, and KakaoTalk capabilities, Omnichat empowers brands to centralise communications, deliver personalised experiences, and drive digital transformation across their operations. Over 5,000 brands, including international retailers and enterprises, leverage Omnichat to optimise their customer journeys.

Website: https://www.omnichat.ai/
WhatsApp: https://wa.me/85291925071/?text=EnquiryForWhatsApp
LinkedIn: https://hk.linkedin.com/company/omnichat-easychat
Facebook: https://www.facebook.com/OmnichatAI

For media enquiries, please contact:

Omnichat Limited

Lily Yeung
Regional Vice President of Communications
Tel: (852) 9803 5977
Email: lily.yeung@omnichat.ai

Macy Chun
Communications Manager
Tel: (852) 6234 9555
Email: macy.chun@omnichat.ai

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TPIsoftware and Hua Nan Bank Partner to Elevate Financial Services with Digital Banking Platform

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TAIPEI, March 26, 2025 /PRNewswire/ — TPIsoftware (TWSE: 7781), a leading B2B software company specializing in digital transformation solutions, has collaborated with Taiwan’s Hua Nan Bank to launch a new digital platform for personal banking. By leveraging TPIsoftware’s expertise in fintech and software development, the platform integrates the bank’s core financial services, such as account opening, personal banking, applications of credit cards and loans into one unified solution, providing seamless, efficient connectivity across applications for enhanced user experience.

The new digital platform utilizes a microservices and containerized architecture to enable frictionless version updates, helping overcome legacy constraints and achieve elastic scalability to adapt to the growing market needs. Existing services of the bank such as online banking, credit card and personal loan applications are integrated into the platform for user experience optimization. With Optical Character Recognition (OCR) incorporated, the application processes are streamlined through extracting personal information from identity documents uploaded by applicants, enabling autofill of information into corresponding fields. Filled details will be stored and retained for 24 hours in the event of service disruption, ensuring flexibility to resume the process without re-entry and re-upload of files.

The all-in-one digital platform layout features a user-friendly, responsive interface that adjusts to device screens of different sizes, with a mobile-first design facilitating mobile banking experiences. The platform’s modern, refreshing design conveys a sense of vibrancy and youthfulness, reflecting the bank’s commitment to innovative, seamless and customer-focused service delivery.

“As cloud computing and mobile technology advancements drive the rise of open banking, the financial services landscape is undergoing a drastic transformation,” said Yilan Yeh, General Manager at TPIsoftware. “Our extensive fintech experience and in-depth industry knowledge position us as a trusted partner who empowers enterprises to innovate, adapt and thrive in a rapidly evolving market. The collaboration with Hua Nan Bank reflects our commitment to supporting clients in optimizing their services and navigating complex challenges—driving digital innovation with modern enterprise solutions.”

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Alma introduces Alma Harmony, a state-of-the-art aesthetic platform for next-level in-office treatments

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Featuring a simply intelligence interface and substantial technological upgrades, the new multiplatform presents a new era in patient personalization

CAESAREA, Israel, March 26, 2025 /PRNewswire/ — Alma Lasers, a Sisram Medical company and a global leader in energy-based medical and aesthetic solutions, announced today the global debut of the latest edition of its award-winning aesthetics platform, Alma Harmony. Built on a distinguished 20-year legacy, Alma’s new platform features stunning modern design and substantial upgrades to offer more treatment possibilities and a simply intelligent experience.

Alma Harmony takes a huge leap forward in patient personalization. The new evolution is powered by the five of the most in-demand technologies, brilliantly integrated to provide a comprehensive range of treatments for almost any indication or skin type: the Q-Switch Laser stimulates collagen and treats pigmentation by targeting dermal layers, the Fractional Ablative laser creates pixel-sized perforations in the skin, inducing rejuvenation while preserving surrounding tissues for quicker recovery, Intense Pulsed Light (IPL) offers a balanced approach to aesthetic improvements across a wide range of patient skin types and concerns, Non-Ablative Lasers rejuvenate skin by promoting collagen production from within the dermis and the Green Diode Laser precisely treats vascular lesions, enhancing both efficacy and safety.

With up to a 45% increase in energy*, the new multiplatform offers the robust capabilities of standalone lasers in a single, sophisticated platform. This enhanced energy enables practitioners to address the diverse needs of patients—across different ages, skin types, and treatment goals—and to provide clinically proven treatments for the most in-demand categories, such as skin resurfacing, skin rejuvenation and tightening, hair removal, acne and acne scars, vascular lesions, pigmented lesions, and tattoo removal, to name a few.

Designed to enhance efficiency, simplicity, and ease of use, the new Alma Harmony includes advanced automated features such as customizable presets, ergonomically designed applicators, and functionality that makes operation seamless.

“The majority of the skin conditions we treat need more than one light or laser at the same time in the same session, and to work with a platform where you can have very easy connection enables us to do really personalized treatments with multiple wavelengths, multiple lights, to achieve the depth and the chromophore we want to target to achieve good results in those specific diseases” said Dr. Pablo Naranjo, MD, PhD, Medical Director of Elite Laser Clinic & Laser Unit at NISA Hospital, Madrid, Spain.  “The new Alma Harmony allows me to have the same power as standalone lasers in an all-in-one platform and to achieve the next level of results with my patients” he added.

Recently, Alma Harmony won the European Product Design Award in the Healthcare category, recognized for its innovation and design excellence.

Lior Dayan, CEO of Alma, said: “After years of development, we are proud to introduce Alma Harmony to the global market. Combining cutting-edge technology with innovative design, every detail has been meticulously crafted to offer a seamless and intelligent user experience”

He added, “Alma Harmony sets a new standard for functionality, versatility, and performance. The new flagship multiplatform allows professionals to combine synergetic technologies to effectively treat a wide range of aesthetic concerns, addressing the growing consumer demand for combination procedures for longer-lasting results and a shorter recovery, while enhancing both practitioner efficiency and patient experience to unprecedented levels”

Aiming to support clinic business offerings and increase visibility, Alma is launching the new platform together with Harmony Bio-Boost, a branded treatment tackling today’s most in-demand category—skin rejuvenation.

Harmony Bio-Boost, currently exclusive to Alma Harmony users, is a quick and effective treatment that harnesses the skin’s natural healing process and leverages the power of bio stimulation to deliver enhanced results. This treatment enables improvement in skin tone and texture and serves as a catalyst for collagen renewal and elastin production that continues to work up to six months** post-treatment.

*Compared to Harmony XL PRO using specific parameters **After a non-ablative fractional laser treatment.

About Alma

Alma is a world-leading innovator in the aesthetic and surgical markets, offering holistic and cutting-edge solutions, including Laser, RF, Plasma, and Ultrasound technologies. We empower practitioners to deliver safe, effective, and life-transforming treatments using state-of-the-art, clinically proven solutions. For over two decades, Alma’s award-winning products have set new standards in clinical excellence and innovation in the medical aesthetic industry. For more information, visit the company’s website: almalasers.com       

For media inquiries, please contact Alma PR team:
prglobal@almalasers.com

 

 

 

 

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