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Students to Develop Urban Mobility Solutions Using AI

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In Otis’ Made to Move Communities™ global competition, students will apply Artificial Intelligence to enable more inclusive and sustainable mobility solutions.A student team from the Hong Kong Baptist University Affiliated School Wong Kam Fai Secondary and Primary School is representing Hong Kong in this competition

HONG KONG, Nov. 13, 2024 /PRNewswire/ — Artificial Intelligence is revolutionizing the speed, accuracy and scale at which complex challenges are addressed. Over the next several months, more than 250 students from dozens of schools representing more than 15 countries and territories around the world will participate in the Made to Move Communities challenge to propose innovative ways AI can improve urban mobility. They’ll be guided by volunteer mentors from Otis (NYSE: OTIS), the world’s leading elevator and escalator manufacturing, installation and service company.

“We believe that the next generation of innovation will use AI to make moving in and around cities easier and more efficient for all,” said Randi Tanguay, Otis Senior Vice President & Chief Communications Officer. “Today’s students are growing up as AI technology matures. They are actively engaged and quickly developing the skills to effectively use and apply it. With their innate curiosity and imagination, combined with the guidance of expert Otis volunteer mentors, I can’t wait to see the solutions these students come up with.”

Why AI

According to the World Bank, more than 56% of the world population currently lives in cities, and that number is expected to grow to nearly 70% by 2050. The current pace of rapid urbanization and global population growth has the potential to strain urban infrastructure, resulting in increased congestion, pollution, and inadequate public transit. These challenges can be even more acute in underserved neighborhoods and for people with special needs.

“AI is already reshaping transportation. It’s enabling self-driving cars, optimizing traffic flows, and even helping drones deliver packages and medicines to those in need,” said Ezhil Nanjappan, Otis Senior Vice President and Chief Technology Officer. “As we stand on the brink of the AI revolution, I’m excited to bring this transformational technology to the Made to Move Communities program – to brainstorm solutions to the mobility issues of today and tomorrow, while inspiring young minds and helping to close the STEM skills gap.”

For the first time – a global winner

Since 2020, Otis’ annual Made to Move Communities global student competition has engaged over 750 students and hundreds of Otis colleagues with the goal of addressing urban mobility challenges while sparking a lifelong interest in STEM. Participating schools have received nearly $1 million (USD) in grants from Otis to further STEM learning and programs in their schools.

Until now, students used to compete regionally, with a winning team selected in each of the four Otis regions. This year, for the first time, the four regional winning teams will compete in a final round to determine a global team champion. Student teams will need to share how their solutions to local challenges can be scaled globally, and the global team champion will receive an additional grant for their school.

Seven students from the Hong Kong Baptist University Affiliated School Wong Kam Fai Secondary and Primary School will take part. This is the second time the school will represent Hong Kong. “We are pleased to once again have the opportunity to represent Hong Kong in the competition. This platform allows our students to harness the power of Artificial Intelligence to tackle real-world urban mobility challenges. We are eager to see how their innovative ideas will transform into practical solutions and showcase their talents on a global stage.” Said by Ms. Jacqui KOO, Acting Deputy Principal cum Director of International Division, Hong Kong Baptist University Affiliated School Wong Kam Fai Secondary and Primary School.

Watch this video to learn more about Made to Move Communities and this year’s challenge: https://youtu.be/c1FwYeGhLp4

Visit otis.com/mtmc to learn more and follow Otis for updates from participating student teams.

About Otis

Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide – the industry’s largest Service portfolio. You’ll find us in the world’s most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram and Facebook @OtisElevatorCo.

Media Enquiries: 

Michelle Mak
michelle.mak@otis.com  
852-9865 5331

 

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SOURCE Otis Elevator Company (H.K.) Limited

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Kearney Launches Geopolitical Service Line to Give Executives New “One-Stop-Shop” for Navigating Elevated Global Uncertainty

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WASHINGTON, Nov. 14, 2024 /PRNewswire/ — Kearney, a leading global management consulting firm, today announced the launch of its newest offering, aimed at helping clients steer their companies through our ever-changing world. Kearney’s Geopolitical Dynamics provides executives with a holistic solution to navigate today’s elevated instability and its impact on business.

In a new era marked by persistent economic uncertainty, regulatory shifts, great power competition, and corresponding escalations, executives face an unprecedented volume of challenges and new opportunities. A recent Kearney assessment determined that fewer than 20% of Fortune 500 companies are ready for this “new era,” defined by heightened geopolitical and economic volatility, a shift from globalization to regionalization, and the emergence of artificial intelligence.

While traditional geopolitical advisory models served clients well in a more stable environment, today’s persistent uncertainty calls for a new approach. Kearney is stepping up with a comprehensive, end-to-end solution that enables executives to proactively navigate complexity and transform it into a catalyst for opportunity. Geopolitical Dynamics offers clients a path to accelerate the development of their in-house capabilities to navigate the implications for their strategy, operations, and people, mitigating risks and capitalizing on emerging trends along the way.

“After 40 years of operating in a globalized landscape, executives now face the urgent challenge of building internal capabilities to navigate heightened geopolitical instability. They must address immediate threats to business while managing long-term planning of markets, supply chains, and the broader enterprise,” said Drew DeLong, Global Lead of Geopolitical Dynamics at Kearney. “This new service is designed to give executives a one-stop shop to navigate with confidence and stay ahead.”

Geopolitical Dynamics offers a comprehensive suite of services that covers every stage of geopolitical management:

Granular Business Intelligence: Anticipating the “what’s next” and “what’s to come” at a granular level in partnership with an expansive global network of intelligence, government, and industrial partners.

Executive Priority Setting: Aligning executive teams and boards around where and why priorities should be set based on all readily available intelligence and business-specific nuances using tabletop exercises, granular scenario planning, and targeted diligences.

Operational Execution: Mobilizing supply chains and enterprise footprints to respond to immediate and long-term needs (including contingencies), leveraging nearly 100 years of Kearney’s heritage and excellence in strategic operations.

Geopolitical Org Ownership: Defining who and how geopolitics are owned and managed within the business today—at the board, CEO staff, and management levels—including the charting of Geopolitical Units and deploying Government Affairs to drive business outcomes through targeted government engagement that drives competitive industrial strategy.

This approach provides a simple but powerful solution to anticipate, plan, and respond faster to emerging threats and opportunities with clarity, speed, and ownership while minimizing disruption to the business—something that is critical to the executive agenda today.

“Boards and leadership teams can no longer afford to treat geopolitical matters in isolation from the standard course of business,” noted Colette LaForce, independent Board Director, Kearney advisor, and former CXO of Dell Services and AMD. “The C-suite needs a streamlined solution that cuts through generic intelligence, aligns our teams, and enables rapid response. Kearney has built a model that is designed to do just that for organizations of all sizes and in all sectors.”

This offering will draw on Kearney’s expansive capabilities to offer executives truly differentiated insights: product design analysis from PERLab, on-the-ground data from reshoring experts, market insights from the Consumer Institute, detailed trends from the Supply Chain Institute, and macroeconomic forecasts from the Global Business Policy Council.

For more information about how Kearney’s Geopolitical Dynamics capability will help you navigate the road ahead, please visit Geopolitical Dynamics or contact one of our experts listed below.

Drew DeLongDrew.Delong@kearney.com

Doug MehlDoug.Mehl@kearney.com

Ben T. Smith, IVBen.Smith@kearney.com

About Kearney

Kearney is a leading global management consulting firm. For nearly 100 years, we have been a trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen, we work alongside our clients to regenerate their businesses to create a future that works for everyone. To learn more about Kearney, please visit www.kearney.com.

Press contact 

US media contact:
Meir Kahtan
MKPR
mkahtan@rcn.com
+1 917-864-0800

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SOURCE Kearney

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United Real Estate Partners Announces Merger with Real Estate Resource Group

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Real Estate Resource Group is the second Greater New Orleans brokerage to join United this year

DALLAS, Nov. 14, 2024 /PRNewswire/ — United® Real Estate, the nation’s eighth-largest brokerage, announced today a merger between United Real Estate | Partners and Real Estate Resource Group, strengthening its foothold in Greater New Orleans. The union combines the resources and leadership teams of two well-respected brokerages and follows United’s February 2024 merger with Team Geaux Realty.

The combined operations include three offices in New Orleans, Metairie and Mandeville, with nearly 200 agents now under the United banner. As part of the partnership, RERG affiliates will access powerful property marketing and branding platforms, an agent training and professional development system, healthcare plans, wealth planning services and United’s suite of innovative programs that create outstanding transactions for agents and clients.

United Real Estate President Rick Haase reflected on the company’s strategic growth strategy, “The accelerating growth now happening in the Greater New Orleans market is gratifying and will continue in the months ahead. Our mission is to improve the financial trajectories of brokerages and agents by delivering uncharacteristically high levels of support and services. This enables organic agent growth and mergers and acquisitions alike. I am very excited about the many synergies between United Partners and Real Estate Resource Group; both companies will be stronger than ever before because of the merger.”

Managing Partner of Real Estate Resource Group Ken Rayer describes why United was the best fit for their company, “We saw how many Agents were moving to United, which piqued our interest and enticed us to explore what they were offering. Many companies have approached us over the years, but United was the best fit. They have a flat-fee agent compensation model similar to ours and will provide our agents with the level of support and resources only a large national partner can offer.

It was important to ensure our agents were comfortable with the move. We didn’t want to join a commission-split model brokerage, which would increase their cost of doing business. Instead, we are actually giving them a raise and adding a suite of new tools, new office locations and a larger support team at no cost to them.”

United | Partners CEO Tom Bookhardt explains how the merger supports organizational growth and enhanced support and services for agents and clients, “This strategic partnership aligns our strengths, enhances our service offerings and ultimately elevates the value we bring to our clients and the communities we serve. By combining our resources and expertise with RERG, we’re building a stronger, more resilient brokerage that is well-positioned for the dynamic future of our industry.

Through this collaboration, we will expand our reach, share best practices and provide our agents with even greater opportunities for growth. We’re confident this union will enable us to meet and exceed the market demands with innovative solutions and unmatched dedication to our clients’ success.”

About United Real Estate

United Real Estate (United) – a division of United Real Estate Group – was founded with the purpose of offering solutions to real estate brokers and agents in the rapidly changing real estate brokerage industry. United provides the latest training, marketing and technology tools to agents and brokers under a flat-fee, transaction-based agent commission model. By leveraging the company’s proprietary cloud-based Bullseye™ Agent & Broker Productivity Platform, United delivers a more profitable outcome for agents and brokers. United Real Estate operates in 32 states with 159 offices and more than 21,000 agents. The company produced over 70,000 transactions and $27.8 billion in sales volume in 2023.

About United Real Estate Group

United Real Estate Group (UREG) operates United Real Estate and United Country Real Estate, addressing the unique market needs of suburban, major metropolitan urban and rural markets. Utilizing the cloud-based Bullseye™ Agent & Broker Productivity Platform, UREG offers the latest training, marketing and technology tools producing a significant competitive advantage. The platform realizes a decade-long investment in virtual agent and brokerage technology services and is powered by a 2.6 million listings data warehouse generating over 3 million monthly visitors and 30,000+ leads per year. Together, the United Real Estate Group supports more than 590 offices and over 23,100 real estate and auction professionals across four continents. United Real Estate Group produced more than 89,000 transactions and $35.2 billion in sales volume in 2023. Through its in-house advertising agency, UREG offers differentiating marketing support and collateral for specialized lifestyle property websites as well as access to a 800,000+ opt-in buyer database. For more information about United Real Estate or United Country Real Estate, please visit UnitedRealEstate.com or UnitedCountry.com.

To learn more about United Real Estate, brokerage succession planning, brokerage valuation and sale or franchising opportunities, visit GrowWithUnited.com. Agents interested in learning about career opportunities with United Real Estate Partners can visit JoinUnitedPartners.com

Media contact: 
April Gonzalez
Media & Investor Relations
AGonzalez@UnitedRealEstate.com 
504-237-3500

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SOURCE United Real Estate

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Edge AI ICs Market Forecast: USD 8132 Million by 2030 with 16.5% CAGR, Transforming Robotics, Smart Cities, and Automotive Sectors | Valuates Reports

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Edge AI ICs Market is Segmented by Type (Audio And Sound Processing, Machine Vision, Sensor Data Analysis), by Application (Automotive, Robotics, Smart Manufacturing, Smart City, Security & Surveillance).

BANGALORE, India, Nov. 14, 2024 /PRNewswire/ — The global Edge AI ICs market is projected to grow from USD 3246 Million in 2024 to USD 8132 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 16.5% during the forecast period.

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Major Factors Driving the Growth of Edge AI ICs Market:

The Edge AI ICs market is experiencing rapid growth as industries seek real-time data processing and localized AI solutions. Factors like the expansion of IoT, adoption in autonomous systems, and advancements in 5G networks propel market demand. Edge AI ICs enable efficient, low-latency processing across sectors including healthcare, automotive, retail, and smart cities. As businesses and governments prioritize faster, more secure processing capabilities, the adoption of Edge AI ICs is expected to increase.

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TRENDS INFLUENCING THE GROWTH OF THE EDGE AI ICs MARKET

Machine vision systems equipped with Edge AI ICs can perform tasks like defect detection, quality assurance, and process monitoring without needing to send data to the cloud. By processing data locally, these systems reduce latency, making real-time analysis possible. This capability is critical for industries where immediate decision-making is necessary, such as in assembly lines or medical imaging. Edge AI ICs support faster and more accurate machine vision applications, allowing companies to automate quality control and enhance productivity. The growing adoption of automation and quality control solutions drives the demand for Edge AI ICs in machine vision, positioning these chips as essential components in industries focused on efficiency, accuracy, and streamlined operations.

Edge AI ICs are pivotal in sensor data analysis, a field that benefits greatly from rapid, localized processing. By handling data directly on the device, Edge AI ICs reduce reliance on cloud-based processing, enabling real-time responses in applications such as predictive maintenance, environmental monitoring, and security. Sensor-based devices equipped with Edge AI ICs can interpret data from IoT devices instantly, offering insights and alerts without significant delays. This immediate data analysis capability supports various industries, from healthcare, where wearable sensors monitor patient vitals, to agriculture, where sensors optimize crop conditions. The ability to process sensor data in real-time enhances operational efficiency, making Edge AI ICs a valuable asset for businesses looking to optimize resources and reduce downtime. The expansion of sensor-based technology across sectors fuels market growth for Edge AI ICs as demand for efficient, on-device processing rises.

The automotive industry’s shift towards autonomous and semi-autonomous vehicles has accelerated the demand for Edge AI ICs, which enable real-time decision-making critical for safety and navigation. Edge AI ICs process data from multiple sources, including cameras, radar, and LiDAR, allowing vehicles to react instantaneously to changing conditions on the road. Advanced Driver-Assistance Systems (ADAS) depend on these ICs to execute tasks like collision detection, lane keeping, and adaptive cruise control, enhancing safety and convenience for drivers. The automotive industry’s focus on autonomous technologies drives demand for high-performance, reliable Edge AI ICs that can manage extensive data processing within the vehicle itself, reducing the need for constant cloud connectivity. As manufacturers continue to innovate in autonomous driving, Edge AI ICs play a crucial role, ensuring that real-time processing requirements are met, which supports the market’s steady expansion.

The surveillance and security sector utilizes Edge AI ICs to process video and sensor data instantly, allowing for quicker threat detection and response in real-time. By operating at the edge, these ICs reduce the need for high-bandwidth connections and enhance data privacy. Edge AI ICs power applications like facial recognition and anomaly detection in public spaces, workplaces, and homes, supporting faster, more efficient security measures. As demand for advanced surveillance solutions grows, the market for Edge AI ICs continues to expand, meeting the sector’s need for reliable, on-site AI processing.

In healthcare, Edge AI ICs enable real-time data processing in medical devices and wearable sensors, which is critical for continuous patient monitoring and diagnostics. Edge AI ICs in wearable devices can analyze biometric data immediately, providing alerts or adjustments in real time. This capability is crucial for monitoring patients with chronic conditions and improving emergency response times. The healthcare industry’s emphasis on rapid, on-device processing for improved patient outcomes drives the demand for Edge AI ICs, supporting growth as health-tech innovation continues.

Smart cities utilize Edge AI ICs to manage traffic, monitor air quality, and enhance public safety through real-time data processing. These ICs allow municipalities to operate infrastructure more efficiently by reducing data transfer to the cloud and supporting local decision-making. Applications in surveillance, environmental monitoring, and public services leverage Edge AI to provide immediate responses to urban challenges. As cities adopt smart technologies to improve urban life, the demand for Edge AI ICs in managing these systems grows, establishing their role in building sustainable, responsive cities.

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EDGE AI ICs MARKET:

Regional growth in the Edge AI ICs market is shaped by technology adoption rates, infrastructure development, and industrial demands. North America and Europe lead in market share due to advancements in automotive, healthcare, and smart city projects. Asia-Pacific shows strong growth potential, driven by increased manufacturing, urbanization, and government support for AI initiatives. The Middle East and Africa are emerging markets with significant interest in deploying Edge AI for infrastructure and smart city applications. Each region’s unique needs contribute to the global expansion of the Edge AI ICs market, with regional investments supporting localized, on-device processing solutions tailored to industry requirements.

Key Companies:

Ingenic SemiconductorOmniVisionAmlogicHailoKneronTexas InstrumentsNXPSTMicroelectronicsQualcommGoogleAMD (Xilinx)IntelNVidiaCorerainBlack Sesame TechnologiesHorizon RoboticsCambriconHisiliconAmbarellaFuzhou Rockchip Electronics

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  The global Edge AI Software market was valued at USD 931.5 Million in 2022 and is anticipated to reach USD 3519.4 Million by 2029, witnessing a CAGR of 24.8% during the forecast period 2023-2029.

–  Edge AI Computing Chips Market

–  Edge AI Box market was valued at USD 806 Million in 2023 and is anticipated to reach USD 1374.5 Million by 2030, witnessing a CAGR of 7.9% during the forecast period 2024-2030.

–  Edge AI Chips Market

–  AI over Edge Computing Market

–  Realtime Edge AI based Camera Market

–  IIoT Edge Computing Market

–  AI Intelligent Edge Computing Boxes Market

–  AI Server market is projected to grow from USD 31720 Million in 2024 to USD 78810 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 16.4% during the forecast period.

–  Edge Processor Market

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