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Computers & Software Finance Law & Legal Services Technology

Legalese Decoder Launches Latest Upgrade to LLM, Doubling Usage Credits on Paid Plans

FOR IMMEDIATE RELEASE

Vancouver, Canada – Legalese Decoder, the industry leader in legal language translation and analysis, is excited to announce the latest upgrade to its Legalese Language Model (LLM). The upgraded LLM features faster response times and enhanced accuracy in deciphering complex legal language.

In addition to the LLM upgrade, Legalese Decoder is doubling the usage credits on both the Home and Pro paid plans at no extra charge to users. This means that users can now access twice as many credits to simplify and translate their legal documents.

“The latest upgrade to our Legalese Language Model is a testament to our commitment to providing our users with the most advanced and accurate legal language analysis tool available,” said William Tsui, founder at Legalese Decoder. “We understand the challenges that everyday people face when dealing with legal jargon and we are dedicated to empowering them with the tools they need to navigate the legal landscape with confidence.”

The LLM upgrade features a faster response time, enabling users to receive near real-time translations and analysis of complex legal documents. The tool utilizes advanced algorithms and machine learning techniques to identify key terms and concepts and provide plain language definitions.

With the doubling of usage credits on both the Home and Pro paid plans, users can now access even more features and functionality to simplify and translate their legal documents. The Home Plan now includes 40,000 characters credits per month, while the Pro Plan offers 800,000 characters credits per month.

“We are excited to offer our users even more value with the doubling of usage credits on our paid plans,” said Tsui. “Our mission is to provide all the tools needed for everyday people to tackle their legal needs, and this upgrade is just one more way we’re fulfilling that mission.”

Legalese Decoder continues to lead the way in legal language translation and analysis, providing users with the tools they need to simplify complex legal language. With the latest upgrade to the LLM and the doubling of usage credits on paid plans, Legalese Decoder remains committed to empowering everyday people to navigate the legal landscape with confidence.

For more information about Legalese Decoder and its legal language translation and analysis tools, please visit https://legalesedecoder.com/.

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Automotive Computers & Software Finance Technology

How AI Helps Insurance Companies Deliver a Better Experience

I recently wrote a post about why insurance companies should consider data consolidation. In that article, I discussed how having your business data in one place could help you make better decisions for your business. 

And, at the same time, create a better experience for your customers.

Of course, one might argue that all of that data being streamed into this central “vault” would need to be assessed and analysed to get any value from it.

That’s where artificial intelligence (AI) and machine learning (ML) come into the picture.

Repairer Driven News, a news site for collision repairers, very recently discussed how technology—specifically AI—makes it easier for insurance companies to produce quotes.

Whilst this article discusses auto insurance specifically (given the nature of the publication), what it says is just as easily applicable to other parts of life that require insurance.

Using AI to Calculate Risk

In the past, risk calculations were done manually, based on information provided by the customer. With AI, however, risk calculations can be automated. And, they tend to be more accurate.

Accuracy, as it turns out, is extremely desirable in the world of insurance. That leads to a more logical premium for the customer, which is good for them and the insurance provider.

At the same time, AI is much better at detecting fraud. 

Fraud detection requires pattern detection. And, if the fraud is sophisticated enough, humans might not be able to see that pattern. AI, on the other hand, can and will. 

According to this article by Business News Daily, machine learning algorithms can detect fraudulent claims with a 75% accuracy rate. Of course, as technology evolves, fraudulent schemes will as well. However, all that means is that data scientists will need to keep up so that AI/ML can keep up as well.

Using AI to Calculate Cost

The article discusses how predictive analysis can determine if a vehicle can be repaired or if it should be written off. It can do that based on information such as the year and model of the vehicle, the type of impact, whether the airbags deployed, and so on.

It also talks about how AI heat mapping technologies can identify which areas of the vehicle were damaged.

With all this information at its “fingertips”, AI can very quickly complete an estimate with no additional help.

In the same way, AI could be used to predict risk and come up with personalised quotes for health and medical insurance, home insurance, pet insurance, and more.

Again, with a better understanding of the cost of treatment or reparations, insurance companies can service their customers better.

Using AI to Mitigate Risk

Safety technology in vehicles is reaching a point where cars can safely (well, more or less) drive themselves. While not all vehicles are autonomous, they do have features that can help human drivers operate a little more safely.

Some of these features, such as parking sensors, rear-facing cameras, and lane detection, can also gather information. This information, in turn, can be processed by AI to help drivers make better decisions; better decisions that lead to fewer collisions.

Helping Insurance Companies Harness the Power of AI and Data

Insurance software providers like Zinnia are offering solutions that help businesses make the most of their data. At the same time, these solutions also help them design better products for their customers, giving them the best experience as well.

For example, Zinnia’s life insurance solutions include data consolidation as well as management. This secure “source of truth” can be used by AI to generate better outcomes for everyone.

And, isn’t that what you want for your insurance business?

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Home & Garden Living Real Estate U.K

London Landlords Can Justify Higher Rents By Setting Their Rentals Apart

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London’s rental market is in a deep crisis.

The inflated cost of living, hefty hikes in rents, and the risk of inflation looming over the UK have led to a record exodus of renters, as many plan to move to other parts of the country in search of more affordable accommodation.

The result: rapid cooling in rental home demand leading to a sharp fall in rents.

For landlords whose incomes are getting hard hit by inflated mortage rates, this could be a ‘perfect storm’. 

In light of the current state of housing, the London Post has shared a guide for landlords looking to improve their homes’ value to entice more tenants.

How to Increase Your Home Value

Except for the location of your home, there’s a whole lot of things you can do to justify higher rent and increase your profit margin, such as:

Improve Curb Appeal

Improving the curb appeal for a rental property is a great marketing strategy for homeowners looking to draw the attention of prospective tenants. 

One of the best yet affordable ways to boost the marketing of your rental property is to spruce up your building’s paint job with a new colour or a fresh coat. Nothing says quirky quite like a bold colour. A brilliant splash of colour makes the exterior of a property visually appealing, thus attracting more prospective tenants to land on your advertisement. However, you don’t need to turn your grey and white house into pink and blue. Brightening up the siding, mailbox, or front door can help bring in a bit of character to even a basic palette.

Apart from that, well-manicured landscaping, a squeaky clean exterior, attractive lighting, a high-tech entrance, etc., can help improve your rental property’s curb appeal.

Add Luxurious Fixtures

To increase your home’s appeal to high-net-worth renters, upgrading to luxury fittings and fixtures is always a sensible investment. 

Adding deck lighting, upgrading bathroom fixtures, replacing outdated bathtubs for designer tubs, etc., are a few ways you can create a buzz around your property.

Boost Your Online Presence

Advertising your rental property is critical, with at least 73% of prospective tenants turning to online sources for their search. 

With digital marketing, you can add an upswing to your renter selections while also minimising empty rental periods.

For landlords who want to be less hands-on yet need professional marketing for their homes, hiring a real estate service like award-winning Quintessentially Estate is a sensible business decision. 

Combining a multi-faceted, multi-channel property advertising approach with a thought-out marketing strategy, a professional service ensures a client’s property gets maximum traction on rental sites. 

On top of that, high-end real estate services frequently collaborate with blue-chip and leading relocation businesses to ensure landlords get access to a greater pool of high-calibre renters.

Make Sure You Have All Relevant Checks Up to Date

As a landlord, you have a spectrum of compliance obligations to adhere to, and it grows year by year. 

Ensuring all regulatory compliance checks are up to date is a legal requirement that ensures your renters are safe in a home that’s energy efficient and offers deposit protection, fire and gas safety, and more.

Failing to meet regulatory compliance can lead to hefty fines or charges, so it’s not something to skirt around.

Being transparent and explaining everything to your renters is an impactful approach that exhibits your care for your property. 

Wrapping Up

Even though the current economic upset and soaring rents are forcing tenants to leave London, landlords can maximise their property value by following the home improvement tips featured above. 

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Business Employment Media & Communications Technology U.K

How Tech Startups Can Make Themselves Recession-Ready

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The start of 2023 has seen big tech companies laying off employees in the thousands. To make matters worse, there’s talk of a potential recession happening this year. 

If tech giants are having a rough time, how will smaller tech startups fare in this market?

As a smaller tech company, you’d be justified in getting a wee bit concerned. Fortunately, even when the near future looks bleak, there are ways your business can avoid the doom and gloom that comes with economic downturns.

Here’s how:

Focus on Your Team

A business is made up of not just the brand but also its people. And, as a startup, you want each member of your team to be a valuable asset. The more you invest in them, the more they will be invested in you.

That’s why continuous improvement and on-the-job training are invaluable. Technology changes and grows rapidly, and you want your employees to keep up. Not only are you building a stronger foundation for your business, but you’re also giving your employees a reason to care about the company’s growth. The more you grow, the more they grow.

This is one of the best ways of showing them you believe in their potential. And, also of creating a lean team that will keep your business afloat when times are rough.

Understand the Recession Market

Let’s face it. Recessions are nothing new. And, whilst technology might not have been the same, business principles tend to work in the same way, generation after generation.

So, take a look at what other successful tech companies did in the past. See how you could apply those principles to your business.

That should give you a good baseline for a set of revised business goals for your company during a potential recession.

It helps to have a multilayered strategy with different sets of business goals for various situations. Things might not be as bad as you think. Alternatively, things might be worse.

If you have a plan for every situation, including the worst-case scenario, you won’t be left floundering when (or, if) things do go south.

Be Prepared to Offer New Products

When COVID-19 started spreading in 2020, many countries enforced a strict lockdown. The UK was one of them. Businesses that were deemed non-essential had to close operations. That included manufacturers as well.

However, seeing that there was a shortage of ventilators in the country (at a time when the NHS would require more ventilators than normal), the Government issued the Ventilator Challenge.

Manufacturers who agreed to take part in it got together to make 20 years’ worth of ventilators in 12 weeks.

If you look at other businesses during the lockdown, you’ll see a number of them did have to change their product offerings in order to stay relevant.

In a recession, you may find that the products you normally make are not required. So, you need to be prepared to change your offerings.

(And, if you paid attention to my first point, you’d have a team that would be able to handle that change!)

Focus on Retention, Not Acquisition

You know that saying—a bird in hand is worth two in the bush?

It applies—very strongly, I might add—to customers. 

It is always easier to retain existing customers by keeping them happy than it is to acquire new ones. 

And, if you’re in the middle of a recession, new customers are even more difficult to find.

So, spend time on building those existing relationships instead of focusing on new ones. Reach out to your customers and find out if their needs have changed. If times are difficult, it might be possible for you to help each other out.

Plus, marketing to existing customers doesn’t have to be tedious or boring. As Bold Content pointed out, B2B videos don’t have to be boring. Build a connection with emotional, funny, relatable content.

(Plus, Bold Content is already helping produce content that could help your workforce grow—check out the story about the animation they created for Tech She Can, which encourages young girls to take up STEM studies.)

So, there you have it. Keeping your tech startup going during a recession is all about having a plan and building human connections. Stay creative, and maybe I’ll be writing a case study on your business in a couple of years.

Categories
Energy & Environment Public Affairs U.K

UK Energy Consumers Brace For Hefty Energy Bills Despite Falling Gas Prices

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As supply issues have been exacerbated worldwide by the Russian invasion of Ukraine, the wholesale price of imported oil and natural gas had spiralled upward. 

According to The Guardian, the current energy crisis in the UK stemming from the Ukraine conflict cost the equivalent of £1,000 for every adult.

But now, even though the wholesale gas prices in the UK have started to drop, Britain’s energy cost is not decreasing sooner—residents won’t see the benefits until the second quarter of the year, reported The Conversation. 

Energy Costs Showing No Sign to Decrease Sooner

Inflated wholesale prices cause residents to encounter hikes to their energy bills. 

Wholesale energy prices have started decreasing from their peaks in summer 2022, but a substantial lag is expected before these feed through to consumers.

Now, with falling wholesale prices, the new Ofgem price cap is yet to be announced.

The energy experts predict the energy price cap to see a sharp fall by the second half of the year when the plunging gas prices will be able to impact the hedging strategies and season-ahead contracts.

It means that the benefits of decreasing gas prices won’t be felt sooner.

Ofgem is about to announce the price cap for the second quarter of the year this February.

Cornwall Insight forecasts the UK’s energy price cap to slip from its present record-high rate of £4,279/year to £3,294/year in April and to £2,200 from for the next six months.

Even though it would be a sharp decline from current levels, the price is still very high—Ofgem cap was between £1,000-£1,200/year before the Ukraine conflict made fossil gas costs reach record highs.

However, setting an Ofgem price cap is the process that ensures an energy supplier can recoup their costs; it doesn’t essentially cap the consumers’ bills. 

Based on the estimations, energy experts anticipate the energy bill to soar from the current amount of £2,500/year to an average of £3,000/year or above from April 2023 for the following 12 months. 

It will be much higher than the forecasted price cap of £2200/year from July. 

Prices are capped by whichever is the lower—Ofgem price cap or Energy Price Guarantee (EPG). It means, the residential energy bills are expected to decrease from the second half of the year since the price cap will fall below EPG by then.

However, even if energy prices drop as anticipated, they will still be around 70% higher than in winter 2021/22.

What Can Be Done Now?

With energy prices continuing to soar, plans must be rendered to help consumers ease the energy cost. 

As the UK faces soaring inflation and increased cost of living, residents are encouraged to keep their energy demand reasonably in check. 

Experts advise UK residents to turn down the flow temperature on their boilers to 60°C or below to knock about £160 off their annual energy bills.

Again, for households looking to reduce their energy waste while also supporting their energy bills, servicing boilers annually by leveraging an affordable and reliable service like Mulgas Boiler Care Specialists is a sensible decision. 

Maintaining boiler service check-ups ensures homeowners are running their heating systems efficiently, and it can also help lower their energy bills. 

Britain’s over-reliance on fossil gas has been a leading cause behind its soaring energy bills. With that said, emphasis must be placed on increasing renewable power generation to curb the reliance on fossil fuels significantly. 

Renewable energy generation can help the UK hit the Net-Zero goal by 2050 while also boosting its energy security and knocking off a substantial amount from the household bill.

Wrapping Up

Until July, consumers will see little benefits of falling gas prices. However, proper steps should be taken to lower energy consumption.

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Computers & Software News & Current Affairs Technology Telecom U.K

DDoS Attack on NATO Websites Affects Turkey-Syria Rescue Efforts

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On the 12th of February 2023, some of NATO’s websites were temporarily disrupted due to a Distributed Denial of Service (DDoS) attack. The group that claimed responsibility for carrying out these attacks is Killnet, a Russian hacktivist group.

Apparently, the group had announced its intention to carry out such an attack in its encrypted channel on messaging service Telegram. It also appears to have been soliciting donations in the form of cryptocurrency to fund its activities.

According to the report by Computer Weekly, NATO secretary general Jens Stoltenberg assured reporters that the alliance had put together additional defence measures. 

He also said, “The majority of Nato [sic] websites are functioning as normal. Some Nato websites are still experiencing availability issues, but our technical teams are working to restore full access.”

Since it appears that NATO’s classified networks were not affected, it’s likely that the attack was to disrupt the search and rescue mission in Syria and Turkey. That’s because reports suggest the networks affected are used by NATO’s strategic airlift capabilities (SAC).

SAC found that, during one of its search and rescue missions in south-eastern Turkey, it was unable to communicate with one of the C-17s in flight due to the disruption in service. Fortunately, it managed to stay in contact throughout even though communications were down.

A Well-Timed Cyber Attack

This is not Killnet’s first attack. It has been responsible for other DDoS attacks, with healthcare taking a lot of damage.

It is interesting to note that the DDoS attack on the NATO websites took place on a Sunday. Weekend and holiday attacks have become a trend, with cybercriminals relying on the skeleton security crew and lack of staff to hide the breach for longer.

DigitalXRAID discussed this phenomenon in a recent article about its 24/7 SOC service. From delivery companies (Yodel) to insurance companies (AON), no one is safe from weekend-timed attacks.

The reason why cybercriminals attack over the weekend or during holidays is, as I said earlier, due to the lack of personnel. 

The later an attack is detected, the more time the threat actors have to go deeper into the network. They can gather more information and, potentially use the information found to carry out more attacks.

For that reason, quick detection is imperative. Note that the NATO websites attack was detected really quickly and they still had some availability issues. If they hadn’t detected the attack quickly enough, the recovery time could potentially have been longer.

Ongoing Detection for Better Protection

According to DigitalXRAID, having a 24/7 Security Operations Centre (SOC) can make all the difference when threat actors attack. Your SOC would constantly monitor for any suspicious activity, catching cyberattacks before they become cyber incidents.

However, the problem is that most companies can’t afford to hire an in-house SOC team. In fact, if (ISC)2 is to be believed, the cybersecurity profession needs to grow by 3.4 million people in order to close the workforce gap.

In that case, it might be worth outsourcing your cybersecurity to experts who have the expertise and resources to give you better security from cyber threats.

Companies like DigitalXRAID could help keep your business safe from online threats, whether it is your ongoing services or cloud migration.

Have a think. See if you want to invest in ongoing cybersecurity for your business.

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Business Energy & Environment Lifestyle Living U.K

First British Interior Design Collective Achieves B Corp Certification

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Accouter Group of Companies, home to Accouter, has recently been announced as Britain’s first B Corp certified interior design collective, reported Elliman Insider. 

AGC believes that the team’s commitment to meeting the “highest standards of verified performance, accountability, and transparency” on a spectrum of social and environmental issues has brought the company this prestigious recognition.

“We are proud to be the first British Interior Design Collective to join this community of change-makers, alongside a global movement of people using their business as a force for good,” said Stella Gittins, cofounder of Accouter Group of Companies. “B Corp is a holistic approach for us. It shapes our culture and encourages us to acknowledge our business impact and act. Most importantly, it gives us a framework for continuous improvement, so that every day, we become a little bit prouder of what we do.”

What Is B Corp Certification?

B Corp is a private certification awarded to for-profit companies that can demonstrate their deep commitment to using business as a ‘force for good’—whether via community outreach, taking sustainability initiatives, or implementing equitable economic practices.

Since 2007, this highly prestigious certification has been awarded by B Lab to enterprises that meet the ‘social and environmental performance’ standards. 

B Lab is a non-profit organisation helping to build a sustainable global economy that will benefit people, the environment, and the world. 

AGC Hails B Corp Status

AGC achieved the highly coveted B Corp status in early 2023.

The company has been evaluated rigorously based on the B Impact assessment criteria. The company scored 83.3, whereas the median score for a business to pass the assessment process is 50.9. 

When more than 22 million pieces of furniture are disposed of in the UK each year, AGC is unwaveringly committed to balancing purpose with profit by championing environment-friendly materials and long-lasting manufacturing processes.

“We know there is cynicism around the topic of sustainability for businesses, which is why it was important for us to achieve our B Corp. B Corp separates the green-washers from the good-doers. It shows people that those that really want to make a change, are making a change and that they are willing to operate in a way that puts people and the planet first, and profit second. For companies like us, the priority is to meet the highest social and environmental standards, and do so with authenticity, transparency, and full accountability,” said Alec Watt, CEO of Accouter Group of Companies.

As part of its effort to better demonstrate its adherence to B Corp standards, the company has formed an internal team headed by a dedicated B-keeper. The team is responsible for ensuring that the improvement goals of the company closely align with its working culture. 

“Our enthusiastic B Corp team worked together to identify all our processes to ensure we are practising what we preach when it comes to responsible business practices. We now have a village of internal people rooting for change, which makes us a powerful force towards achieving better things as a business. We wanted to come together and step up, and we’re proud to have done exactly that,” stated Gittins.

Partnering with Walpole, AGC helps the British luxury industry lower its carbon footprint and environmental impact for a more sustainable future.

What’s Next?

Joining the B Corp force is only the beginning, according to AGC. AGC is committed to ensuring their improvements are ever-evolving by helping build a more inclusive, sustainable economy. 

With B Corp certification, the company is aiming to build a global movement for ensuring sustainable development, curbing inequality, and concocting job opportunities with purpose and dignity.

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Computers & Software Marketing & Sales Technology U.K U.S

A Sneak Peek at the Digital Marketing Trends of 2023

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I came across this article on Top Marketing Trends in 2023 by CMSWire. As an SEO content writer, I was definitely interested in what it said. I was even more curious as I’d seen another article in Forbes on the same topic.

The Geek in me wanted to compare the trends these two articles thought would be strong in 2023.

The writer in me wanted to arm myself with industry knowledge—be a more effective content writer and all that.

The me-the-person will read anything and this was as good reading material as any, so…

Anyway, here’s the information, distilled for you by intelligence that is not artificial.

Top Marketing Trends 2023

According to the article, here are the top trends of 2023:

Social Media and Influencer Marketing to Grow

According to HubSpot’s Marketing Strategy and Trends Report, around 25% of marketers use influencer marketing. This form of marketing currently seems to have the highest ROI. 

So much so, it’s expected to grow in 2023, with 17% of marketers planning to try it out for the first time this year. And, of the marketers who are already using this form of marketing, 89% are expected to increase their budgets!

Of course, not everyone agrees with this. Some marketers believe that it’s not influencer marketing that sells but social media marketing. And, influencers are simply harnessing the power of social media.

According to them, content creators who focus on social media will achieve growth, rather than influencers specifically.

Local Search Still Dominates

With the rise of mobile device use, search is slowly becoming more local. If I’m driving and want to grab a bite to eat, it’s easier to look for places in the vicinity. 

With more people browsing the interwebz on their phones instead of a desktop, it’s only logical for local search to become more important in 2023.

So, if you want your technology and software business to be found locally, get yourself an IT marketing company (like Geeky Tech) to help you.

AI-Generated Content to Invade Webpages

I know I have been going on and on about ChatGPT—how it is being used to create malware and how it is going to change SEO—but it’s hard not to. It’s the hot news of the year.

However, it’s not the only AI content generation tool—it’s just the most popular. And, for better or worse, it seems like AI-generated content is here to stay. 

Content generation is a huge part of digital marketing. With AI writing or creating images and videos, marketers will be able to generate vast quantities of content really quickly.

This will mean that, with robotic content saturating the world wide web, original content might find it difficult to stand out.

At the same time, it will create a demand for content marketers who can harness the power of AI to create top-quality content.

Audio-Visual Content Consumption Rises

Social media marketers already knew that posts with images or videos get more engagement. However, now digital marketers are also noticing a rise in the demand for audio and video content.

And, it’s not just audio clips and short videos that are being voraciously viewed. Audiences are also devouring live-streamed content and podcasts.

Another point to note, people no longer want perfectly produced videos. TikTok seems to have created a demand for user-created videos that aren’t professionally edited.

Social Accountability Is a Factor Now

It’s been a growing trend but will continue to play a role for marketers in 2023. Consumers want to align with brands that share the same values as them. In fact, 50% of Gen-Zers and nearly 41% of millennials prefer to patronise businesses that support social causes.

Gamification Wins

Audiences visiting websites are more likely to stay if there are interactive elements to keep them engaged.

Plus, it makes a great talking point, which helps in word-of-mouth marketing!

So, there you have it; the marketing of 2023. These are points you’d need to keep in mind when planning the marketing strategy for your IT company.

Categories
Business Finance Financial Market Technology U.S

Kroger and Albertsons Zero in on Store Divestitures Amid Deal Review

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The Kroger Co. and Albertsons Companies Inc are still on track to divest 250 to 300 stores as part of their effort to dispel antitrust issues regarding their proposed merger plan.

The stores slated for sale are valued at USD 1B or above, and are located all across different regions of the US—such as Chicago, Phoenix, Southern California, and the Pacific Northwest—reported Reuters, citing unnamed sources.

Kroger-Albertsons Cos. Merger Deal

In a move to reshape the U.S. supermarket landscape, Kroger and Albertsons Cos.—The US’s two biggest grocery store chains—announced plans to join forces in mid-October.

The retailers hope that this merger, if approved by regulators, would help create a corporate behemoth generating around $200 billion in sales per year.

Combined, Kroger and Albertsons Cos. would operate around 5,000 stores across the country.

Reasons Behind the Divestiture

The retailers have decided to prepare for the store divestiture as the Federal Trade Commission (FTC) is reassessing Kroger’s proposed USD $24.6B investment in Albertsons Cos. 

Since the retailers declared the merger strategy, there has been a flurry of movements from American consumer advocates and lawmakers against it. 

They are pressuring the FTC to hit the brakes on the deal, or at least hold it for some time, over concerns that this merger, if executed, could cause significant hikes in grocery prices amid the current spiralling inflation rates.

While declaring their merger, the retailers stated that the plan was to sell around 100 to 375 stores to win regulatory approval faster. However, Kroger mentioned that up to 650 stores could be divested.

As per the agreement, if the deal falls apart over antitrust issues, Kroger would be required to pay Albertsons Cos. $600M as a breakup fee to walk away from the contract.

The retailers are trying to sound out long-sought buyers for their stores and address the antitrust issue of FTC over their merging. 

Both Kroger and Albertsons Cos. expect these stores to be spun off into a subsidiary dubbed SpinCo by Albertsons Cos. or directly acquired by competitor supermarkets trying to extend their footprint in the USA. 

FTC to Monitor the Financial Viability of the Stores Divested

FTC will closely monitor any sale of the stores coming from this divestment, reported Reuters, citing antitrust experts at FTC. 

The current FTC chair Lina Khan marked the failed AlbertsonsCos./Safeway settlement behind FTC’s scepticism about the Kroger-Albertsons deal. 

The result: The agency is strictly scrutinising the potential impact of the Kroger–Albertsons merger deal.

Navigating Divestiture Challenges to Success

Brian Concklin, an antitrust expert and partner at global law firm Clifford Chance has advised Kroger and Albertsons Cos. to ensure that the stores they have decided to divest can act as formidable players in the industry. Thus the retailers can keep the FTC from blocking their merger deal.

“The Albertsons-Safeway deal will loom large over how these assets are viewed and how the FTC evaluates whether these divestiture packages being offered are viable,” commented Brian Concklin.

As a complex process, divestiture requires a coordinated effort to be successful.

For any dynamic enterprise looking to maximise the transaction value while divesting its business, investing in a consulting service like Fission Consulting is a sensible decision.

Such a high-end service streamlines the process while significantly reducing business disruptions.

Wrapping up

Kroger and Albertsons Cos. hope their plan to spin off the stores as part of the merger deal will help overcome challenges while paving the way to get FTC approval. 

“We believe we have a clear path to achieve regulatory approval with divestitures,” said Gary Millerchip, Chief Financial Officer at Kroger in a Bloomberg news.

Categories
Computers & Software Technology

Why Data Strategy and Management Is the Most Important Step Toward Automation With AI

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Artificial intelligence (AI) has been in the news a lot recently. ChatGPT, the chatbot, has become part of many conversations. 

And, it might seem like a gimmick—AI that has been “fed” data to see how it responds. However, real-time AI has many more uses than just answering questions.

One of the uses that you might have heard about is self-driving cars. The AI is programmed to monitor the road and propel the vehicle safely. To do so, it takes in information from sensors that monitor the road, speed limit, location, and more. 

It, then, uses this information to make split-second decisions to navigate the car through the traffic.

Similarly, AI can be used to improve safety and operational efficiency in airports, detect fraud in online banking transactions, provide patients with better care in hospitals and much more. 

According to this article about Unlocking the Power of AI With a Real-Time Data Strategy on CIO.com, AI can do all that and more.

However, to do so, ”data ecosystems need to excel at handling fast-moving streams of events, operational data, and machine learning models to leverage insights and automate decision-making.”

The Importance of Real-Time Data

In order for AI to make real-time decisions, it needs real-time data. Using the example of AI in self-driving vehicles again, the computer has to constantly get a flow of information for it to make decisions.

A person needs to have all the evidence before they can make an informed decision. AI is no different. 

Like a person, AI needs some input to determine the output.

Unlike a person, however, AI can handle vast quantities of input in a second and still be able to process it quickly. That, in turn, means that AI can be used to detect fraudulent transactions, make product recommendations, and optimise just-in-time business processes in real-time.

Automation Is the Driving Force

Businesses are looking to leverage AI and enable automation. We are living in a world where data capturing is the easy part. Our phones are gathering information about us and our lives. We can have medical information tracked through wearables. Every online interaction we have is providing someone with some information about us.

Data gathering is not the problem here.

The problem is ensuring data quality so that AI can make better real-time decisions—because high-quality data can help Machine Learning (ML) models deliver better outcomes.

So, if we wanted to accelerate automation, we’d need to look at data management and strategy differently.

In order to be more data-driven, you would need to develop a holistic vision for your business. Information cannot be siloed within various ecosystems. It needs to be integrated so it can be analysed. Only then will it be able to help you make a change.

Instead of trying to fit new methodologies into your legacy software applications, you need to invest in “data and model governance, discovery, observability, and profiling.”

Powering Functional ML Models With Data

So, what’s a machine learning model?

An ML model is a software program within which the AI goes through relevant datasets to identify patterns. It will then use this information to train itself to make decisions. 

Once the model is trained, it can be deployed to determine the best course of action based on data input.

As you can see, since the model uses pre-existing data to teach itself, it’s important that the ML processes and data are integrated to get the most out of them.

And, ML models use data for everything—from building to training to deploying. You could say that data is the fuel required to power ML models. The two need to be aligned for you to get the maximum benefit from either of them.

Managing Data Strategy and Storage For AI Consumption

For AI to make real-time decisions, it needs the parallel support of ML process flow and data flow. Real-time AI needs the following from its data ecosystem:

  • A real-time data ingestion platform
  • A real-time operational data store
  • The ingestion platform and data store working together to reduce the data complexity
  • Change Data Capture (CDC) that returns high-velocity events back into the data stream or analytics platforms
  • An enterprise data ecosystem that optimises data flow in both directions

In order for AI to make real-time decisions quickly and accurately, you need ML models that exchange data at high speeds. It’s difficult to build such an ecosystem within your organisation, so a cloud-native approach might be best for you.

Cloud-native is great for scaling your operations, is reliable, and helps portability across deployments.

Of course, you would need a data strategy that would help you optimise your data and how you use it. Fortunately, experts like Agile Solutions should be able to help you prioritise and plan a data strategy that meets your business’s objectives.

A strong strategy would be able to help you automate your processes with the help of AI.