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Business Computers & Software Science Society & Culture World

Introducing AIUpbeat.com: Latest News in Artificial Intelligence Developments

April 12th 2023 – San Francisco, CA

AIUpbeat.com is a new blog that covers the latest news and trends in artificial intelligence (AI). The blog aims to provide informative, insightful and engaging content for anyone interested in AI, whether they are beginners, enthusiasts or experts.

AIUpbeat.com was launched by Jane Doe, a former journalist and AI researcher who has been following the developments of AI for over a decade. She decided to start her own blog after noticing a gap in the market for accessible and reliable AI news.

“I have always been fascinated by AI and how it can transform our lives,” said Jane Doe, founder and editor-in-chief of AIUpbeat.com. “But I also realized that there is a lot of misinformation and hype around AI that can confuse or mislead people. I wanted to create a blog that would offer accurate, balanced and easy-to-understand AI news for everyone.”

AIUpbeat.com covers a wide range of topics related to AI such as machine learning, natural language processing, computer vision, robotics, ethics, society, business and more. The blog features original articles written by Jane Doe as well as guest posts from other experts and influencers in the field.

Some of the recent articles on AIUpbeat.com include:

  • How GPT-3 Is Changing Content Creation
  • The Rise of Conversational AI: Chatbots vs Voice Assistants
  • How AI Can Help Fight Climate Change
  • The Ethical Challenges of Facial Recognition Technology
  • How AI Is Revolutionizing Healthcare

AIUpbeat.com also offers various resources for learning more about AI such as podcasts, books, courses, events and newsletters.

Jane Doe hopes that her blog will inspire more people to learn about AI and its potential impact on our world.

“AI is not just a buzzword or a sci-fi fantasy,” she said. “It is already here and it is changing everything from how we communicate to how we work to how we entertain ourselves. I believe that everyone should be aware of what AI can do and what it cannot do and how it can benefit us or harm us depending on how we use it.”

She added: “My goal with AIUpbeat.com is to make AI news more accessible and enjoyable for everyone and to spark curiosity and conversation about this fascinating topic.”

To learn more about AIUpbeat.com and its content, visit https://aiupbeat.com/ or follow them on Twitter @aiupbeat.

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Lifestyle Living Real Estate U.K World

Celebrating the Game-Changing Women and Their Contribution to the Design Industry

In a recent post, Vogue celebrated the most influential female designers in the realm of interior design and real estate. To expand on this topic even further, here’s a list of some of the most influential female designers currently taking interior design and architecture to new heights.

Kelly Wearstler

With a bevy of commercial and residential projects stunningly reflecting her evocative skills, lifestyle designer Kelly Wearstler has successfully grown into a global voice through her exquisite designs.

Since its founding, The Rug Company—Kelly’s luxury lifestyle brand and a collection of statement elements and products finished with great panache—has been synonymous with sophistication and soulful vibes.

“There is always a sense of refinement but also a rawness to our projects, which brings that soulful spirit,” said Wearstler.

Stella Gittins

Better known for her unparalleled skill of blending ultra-luxury design with sophistication, Stella Gittins, the co-founder and Group Director at Accouter Group of Companies (AGC), helps transform the interior architecture of a space into a unique, timeless environment. 

“Interiors and fashion tend to change side by side, with people investing a bit more in higher quality pieces that last over time, ” said Stella when asked about the evolution of design in response to lifestyle changes. “Rather than following trends, our designs for private clients are more timeless with items people will keep for generations. Across all our brands, we try to incorporate old forms of craft as well as things made in the UK.”

Part of AGC and a proud member of Walpole, Accouter—a leading international interior design studio—helps drive sustainability in the luxury industry.

A woman with tremendous creativity and reimaging skill, Stella is a trailblazer of success in an industry where women contribute, but men reign. 

Blainey North

​Renowned for taking a contemporary visionary approach blended with high-end interior design skills and broad-ranging intellectual curiosity, Blainey North delivers luxury.

“Without a doubt, it is important to acknowledge the past, present, and future female creative powerhouses that continue to define our world. Equally, from my perspective, it’s crucial that we don’t look to attach a gender to a piece of design-based, for example, on its form, colour or materiality,” said North. “None of which negates the contribution that incredible women continue to make.”

India Mahdavi

Iranian-French architect and interior designer, India Mahdavi has worked on a multitude of large-scale hospitality projects, collaborated with high-net-worth clients, and even launched her own furniture line that reflects her exceptional multilayered design skill.

She is a doer and a relentless force for bringing change in the design era.

Paola Navone

Born in 1950, Milan-based architect-designer Paola Navone has become a formidable player in the design industry for her prolific, highly-stimulating state-of-the-art works. 

A doer and design insurgent, Paola’s exceptional and malleable style is influenced by late-20th-century Italian metamodernism and the Thai concept of “tham ma da” (“every day,”), aiming to discover new uses for standardised, low-priced, and utilitarian items.

When asked about her female approach to design, Navone said, “Sometimes women are more curious and attentive to the nuances, more intuitive and likely to grasp the non-rational and emotional part of reality…The female approach to creativity tends to be more delicate and careful.”

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Finance Financial Market Services Technology World

PerkinElmer Completes Divestiture of its Applied, Food and Enterprise Services Businesses; Aims to Accelerate Scientific Innovation

Right on schedule, PerkinElmer has successfully divested its applied science, food, and enterprise services units to American private equity firm New Mountain Capital, and merged the remaining life sciences and diagnostics entities into a standalone business.

“Today marks the culmination of the hard work and dedication from PerkinElmer teams around the world to ensure that both new companies are in a position to succeed on day one,” said Prahlad Singh, president, and CEO of the PerkinElmer Life Sciences and Diagnostics company. “As we look ahead, our new Life Sciences and Diagnostics organisation has an immense opportunity to continue to lead with science to redefine human health.”

Fleshing Out the Spin-Off

Under the terms and conditions of the spin-off drafted in August 2022, New Mountain Capital—a private equity firm—offered USD 2.3B in cash as part of its effort to acquire the trio of PerkinElmer businesses, according to Yahoo Finance.

According to PerkinElmer’s annual earnings report, in 2022, the divested equities generated just under $1.3B ROI and constituted one-third of the company’s total workforce. Altogether, the firm represented roughly 5% year-on-year/YOY growth last year. 

On the other hand, PerkinElmer’s core businesses generated over $3.3B in revenue in 2022—a slip of around 13% from $3.8B in 2021. The plunge in revenue has an obvious reason: as COVID-19 responses are winding down, the demand for diagnostics worldwide has plummeted. 

However, the company expects the completed spin-off to boost its revenue by 10% each year.

PerkinElmer underscored this spin-off as part of its long-term effort to slim down its focus solely on its two core businesses—life sciences and diagnostics research.

The company expects the influx of cash from the transaction to help it evolve into a high-margin, high-growth company with a unique scale.

“Today’s announcement is a pivotal step in the significant portfolio transformation we have been executing over the last several years,” stated Singh while announcing the divestment last August, and added that the funding will help support “accelerated investment into attractive end markets across science and disease.”

The entities taken over by New Mountain Capital will work on producing novel scientific breakthroughs. The plan is to retain PerkinElmer’s name with the applied, food, and enterprise services businesses until a new appellation, logo, and stock ticker is finalised. PerkinElmer announced at the execution of the sell-off that the newly formed business expects to receive a new moniker by the second quarter of the year, which is yet to be approved by the shareholders.

A Successful Divestiture Needs an Effort in Coordination

The strategic process of selling an asset or a business unit, a divestment is a highly intricate transaction in the M&A industry that needs a coordinated effort to be successful. 

For future-focus companies looking to ensure successful spin-off or carve-out of their business entities, leveraging a high-end M&A and IT service provider like Fission Consulting is a sensible business investment. 

Industry-leading IT transformation services help private equity firms and enterprise-level clients navigate complex transactions while ensuring minimal business disruption. 

Wrapping Up

Regardless of the reason behind the divestment, PerkinElmer expects this transaction project to act as a step-change in helping the company accelerate diagnostic and life sciences research.

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Energy & Environment Public Affairs Technology Travel World

COP 27: ICAO Marks Sustainable Aviation Fuels as the Future of Net-Zero Aviation

At the side event at COP 27 last November, the International Civil Aviation Organization (ICAO) professed its Long Term Aspirational Goal (LTAG) for reducing the aviation sector’s contribution to climate change, reported Lexology.

“Achieving net-zero carbon emissions by 2050 will require substantial and sustained investment and financing over the coming decades. We must furthermore assure reliable and affordable support and capacity-building for the many developing countries and States with particular needs, who will be depending on it to help play their part,” said ICAO Council President Salvatore Sciacchitano. “An important part of my message to you here today is that the work to begin addressing these objectives for our sector has already started.” 

LTAG for International Aviation 

LTAG is a succession of the pledges advocated at the inaugural meeting of the International Aviation Climate Ambition Coalition launched at COP 26, which emphasises cooperative international actions to significantly decouple GHG emissions from flights. 

LTAG aims to comply with the Paris Agreement’s goal of keeping global warming well below 1.5°C.

Part of this effort is to help the aviation sector hit the Net-Zero target by 2050 and foster mass adoption of sustainable aviation fuel (SAF), aligning with CORSIA—ICAO’s carbon offsetting and reduction scheme.

“ICAO is fully cognizant of its global responsibilities toward the sustainable future of the international aviation sector, and of the planet. We also remain deeply cognizant of the critical importance of international air connectivity to the civil societies and economies of Small Island Developing States, Landlocked Developing Countries, and Least Developed Countries,” remarked the Council President.

Sustainable Aviation Fuel

Extracted from sustainable feedstocks and waste products, SAF is a biofuel used to power aircraft.

It can be in blended or unblended form. SAF holds the potential to provide identical or sometimes better performance than conventional fossil-based aviation fuel but with a fraction of its carbon footprint, helping decarbonise the aviation industry.

Even though aviation is considered the bedrock of the world economy, it accounts for almost 3% of the total volume of carbon dioxide annually infiltrating the Earth’s atmosphere. 

That said, cutting carbon emissions from aviation has now become dire.

Although hydrogen- and electric-powered aircraft hold great potential to cut GHG emissions, they are still a long way off from being commercially viable. 

A bridge between hydrogen- or electric-powered aeroplanes and today’s petroleum-based aircraft, SAF’s lower carbon intensity makes it a realistic solution for decreasing aviation GHG.

SAF can cut GHS emissions by up to 80% over the fuel lifecycle and can be used to power the aircraft engine as a direct replacement (drop-in) for fossil-based aviation fuel.

Since 20211, SAF has been used to take more than 450,000 flights to the skies.

Early this month, Airbus powered both engines of its single-aisle aircraft—A321neo—with 100% SAF.

Currently, up to 50% SAF can be blended with petroleum-based jet fuel in commercial flights. 

SAF Production: The Global Outlook

Despite being able to decarbonise aviation significantly, global SAF production is still minuscule. Roughly 26.4 million gallons of SAF are being produced annually, constituting only 0.1% of all jet fuel.

Soaring costs due to limited supply hinders the rapid uptake of SAFs in the aviation industry.

However, these low production numbers are prompting the world’s policymakers to develop plans for scaling up new production methods and facilitating the commercialisation of SAF.

The global SAF market is poised to rise to $6.26 billion by 2030—up from $72.1 million in 2020. 

Again, with the increasing bio-content in jet fuels aggravating microbial contamination, checking its impacts has become dire.

That said, investing in high-end aviation fuel testing kits such as FUELSTAT® is a sensible business decision when it comes to periodic testing of SAF fuels. As a result, microbial growth can be tracked down at the earliest phases and before critical safety or operational disruptions incur heavy financial losses.

Industry Leaders Looking to Facilitate SAF Production

At COP 27, industry leaders underscored the need for a strong regulatory framework to enable the evolution to emissions-free flight while ensuring the safe deployment of SAF into the fuel supply system.

“As aviation continues to explore and adopt the incredible new technological innovations arising today in aeronautics and renewable energy propulsion, ICAO also recognizes how imperative it is to start putting in place the right policies, legal frameworks, and modernised infrastructure to enable this evolution to emissions-free flight,” said ICAO President.

As part of its effort to offer a framework and bespoke assistance to States in different phases of SAF production and deployment, ICAO launched the ICAO Assistance, Capacity-building and Training for Sustainable Aviation Fuels (ACT-SAF) program in June 2022.

However, at COP 27, industry leaders unanimously agreed that boosting the production of commercially usable SAF and replacing conventional fuel with it would need substantial funding. 

Should that funding be raised and only 10% of conventional jet fuel get replaced by SAF, it will reduce 60 million tonnes of carbon emissions annually.

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Celebrity Non Profit Society & Culture Website & Blog World

Bernd Dietel Pledges $1.5m to Various Charity Organizations

Bernd Dietel, a prominent lawyer and philanthropist from New York, has recently donated a staggering 1.5 million dollars to various children charities across the country. His generous contribution will help support and improve the lives of children in need, providing them with the resources and care they require.

Bernd Dietel has a long history of philanthropy, and this latest donation is a testament to his commitment to making a positive impact in the world. He believes that every child deserves a chance to succeed and that it is the responsibility of those who can make a difference to do so.

The charities that received the donations include The Ronald McDonald House Charities, The Boys and Girls Clubs of America, and The Children’s Hospital of Philadelphia. These organizations play a critical role in providing support and care to children in need, and Bernd Dietel’s donation will help them continue their vital work.

The Ronald McDonald House Charities is an organization that provides accommodations and support to families with seriously ill children who require medical treatment away from home. The organization has been able to provide a “home away from home” for over 7 million families since its inception, and Dietel’s donation will help them expand their services and reach more families in need.

The Boys and Girls Clubs of America is an organization that provides after-school programs and mentorship to children and teens across the country. They aim to provide a safe and supportive environment for young people to learn, grow, and develop essential life skills. Bernd Dietel’s donation will help the organization continue to provide high-quality programming and expand their reach to more communities across the country.

The Children’s Hospital of Philadelphia is a world-renowned pediatric hospital that provides comprehensive care to children with complex medical conditions. The hospital’s mission is to provide the highest quality care to children, regardless of their ability to pay. Mr. Dietel’s donation will help fund research initiatives, equipment purchases, and patient and family support programs.

Speaking about the donation from his high-rise legal office on Wall Street, Bernd Dietel said, “I am honored to be able to support these organizations and the important work they do. Children are the future of our country, and it is our responsibility to provide them with the resources and care they need to succeed. I hope that my donation will help make a significant impact in the lives of the children these organizations serve.”

Bernd Dietel’s donation will serve as an inspiration to others to get involved in philanthropic efforts and make a difference in their communities. His generosity and commitment to philanthropy will help provide critical support to children’s charities across the country and improve the lives of countless young people.

Suffice to say, Bernd Dietel’s donation of 1.5 million dollars to various children charities is a significant gesture of kindness and generosity. His contribution will help support and improve the lives of children in need, providing them with the resources and care they require.

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Celebrity Non Profit Society & Culture Website & Blog World

John Babikian Gives $1m to Multiple Children’s Charities

Renowned American businessman and philanthropist John Babikian from New Jersey has recently made a significant contribution to several children’s charities across the country, with a donation of 1 million dollars. Babikian has been a strong advocate for charitable causes throughout his career, and this latest donation is just one example of his unwavering commitment to improving the lives of others.

The charities that received the donations include The Boys and Girls Club of America, The Make-A-Wish Foundation, and The St. Jude Children’s Research Hospital. These organizations play an essential role in providing support and care to children in need, and John Babikian’s donation will help them continue their vital work.

Speaking about his donation, John Babikian from his home in Newark said, “It is our responsibility as members of society to give back and support those in need. Children are the future of our country, and we must do all we can to ensure that they have a bright future. I am proud to support these charities and the work that they do. It is my hope that this donation will make a significant impact in the lives of the children they serve.”

The Boys and Girls Club of America is an organization that provides after-school programs and mentorship to children and teens across the country. They aim to provide a safe and supportive environment for young people to learn, grow, and develop essential life skills. Babikian’s donation will help the organization continue to provide high-quality programming and expand their reach to more communities across the country.

The Make-A-Wish Foundation is another organization that received a portion of Babikian’s donation. The organization grants wishes to children with critical illnesses, providing them with hope, strength, and joy during their difficult times. The organization has granted over 315,000 wishes since its inception and has had a significant impact on the lives of countless children and their families.

The St. Jude Children’s Research Hospital is a world-renowned research and treatment center for children with cancer and other life-threatening illnesses. The hospital’s mission is to find cures and save children’s lives, regardless of their ability to pay. Babikian’s donation will help fund research initiatives, equipment purchases, and patient and family support programs.

John Babikian’s generosity and commitment to philanthropy serve as an inspiration to others to get involved in charitable causes and make a positive impact in their communities. His donation will help provide critical support to children’s charities across the country and improve the lives of countless young people.

In conclusion, John Babikian’s donation of 1 million dollars to various children’s charities in the United States is a testament to his commitment to improving the lives of others. His generosity will help provide critical support to organizations that play a vital role in providing care and support to children in need. We thank Babikian for his unwavering dedication to philanthropy and wish him continued success in his efforts to make a positive impact in the world.

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Say Goodbye to JFK Parking Hassles with ParkingAccess!

ParkingAccess is a website that offers a comprehensive guide to parking at John F. Kennedy International Airport (JFK) in New York. The website has a team of expert writers who produce high-quality editorial and sensational content around JFK parking.

One of the reasons why ParkingAccess is so great concerning JFK parking is its deep understanding of the needs and concerns of travelers who use JFK. The website provides valuable information such as the locations of parking facilities, rates, and amenities. They also offer insider tips on how to save money and time when parking at JFK.

In addition to providing practical information, ParkingAccess also produces high-quality editorial content that is informative and engaging. Their articles cover a wide range of topics such as airport security, travel safety, and parking trends. Their writers are experts in the travel industry and provide valuable insights and advice for travelers.

One of the things that sets ParkingAccess apart from other websites is their ability to produce sensational content that captures readers’ attention. They use creative headlines and engaging visuals to inspire readers and motivate them. Their articles are also well-researched and have a unique perspective on travel-related topics.

Another great thing about ParkingAccess is their commitment to providing accurate and up-to-date information. They regularly update their website to reflect changes in parking rates and availability at JFK. They also provide real-time information on parking availability and wait times so that travelers can plan and avoid unnecessary stress.

ParkingAccess is also very user-friendly and easy to navigate. Their website is designed to be intuitive and responsive, making it easy for travelers to find the place they need quickly and easily. They also offer a range of tools and resources, such as a parking calculator and a parking map, to help travelers plan their trip.

In conclusion, ParkingAccess is a fantastic resource for travelers looking for information on parking at JFK. Their expert writers produce high-quality editorial and sensational content that is informative, engaging, and up-to-date. They deeply understand the needs and concerns of travelers who use JFK and provide practical information and insider tips to help make their trip as smooth and stress-free as possible. If you plan a trip to JFK, check out ParkingAccess for all your parking needs.

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Finance Financial Market Living Real Estate World

Dubai’s Luxury Home Sale Booming; Ranked Fourth Globally

Dubai’s prime residential market has been ranked fourth globally as sales of ultra-luxury residences continue to soar amid a resilient economic recovery. 

Citing a 2023 Wealth Report, Middle East Eye reported that this year, Dubai is poised to lead the world’s luxury property market, with prices rising by a whopping 13.5%.

Dubai’s Luxury Property

With the meteoric increase in ultra-luxury home sales, Dubai has landed just behind New York with 244 home sales, Los Angeles with 225, and London with 223 (in terms of the $10M-home sales).

For $25M-home sales, Dubai ranked fifth, just behind London with the highest number of 43 sales, New York with 43, Los Angeles with 39, and Hong Kong with 28.

In 2022, Dubai racked up around 219 sales worth roughly $10 million or above, compared to 93 in 2021—a jump of a staggering 135%. 

The collective transaction is predicted to be over $3.8B. 

The sale of luxury properties—more specifically, villas and “trophy” apartments—has witnessed a massive boom in Dubai, with the city’s upmarket neighbourhoods recording the best performance.

For example, despite the price for opulent residences spiralling upward, the uber-luxury neighbourhood of Palm Jumeirah is cementing its iconic status in the luxury residential market, chalking up the highest home sale in 2022.

The price of a villa in the city’s exclusive enclaves has soared by almost 80% on average since the onset of the COVID-19 pandemic.

Emirates Hills, Palm Jumeirah, and Jumeirah Bay Island are marked as the prime residential neighbourhoods of Dubai.

With the Dubai luxury market seeing a massive influx of elites preferring contemporary interior designs, the demand for high-end interior design studios like Accouter is getting a push in Dubai. 

By bringing out the best of both worlds—interior architecture and design—a high-end interior design company can turn a space into a unique, timeless environment. 

Reasons Behind Dubai’s Luxury Home Sale Boom

Even though the increasing inflation rate and tough economic headwinds have caused a massive downturn in the residential market in the West, the Emirate’s luxury market is poised to see substantial growth this year.

Awash with luxury villas, penthouses, and exclusive hotels combined with excellent safety, climate, and unparalleled sun-sea-sand lifestyle—Dubai has now become the preference of ultra-high-net-worth buyers.

The city has long been synonymous with opulence, thus making a reputation for itself as the stomping ground of the ultrarich.

Additionally, the city has been marked as one of the world’s most ‘affordable’ luxury residential markets, with most prime homes transacting for only $870/sq. ft on an average.

UAE’s affordable mortgage plans, a tax-free regime, and ease-of-doing business are the key incentives for wealthy buyers around the globe to snap up properties in Dubai.

Additionally, the country’s excellent management of the COVID-19 pandemic has sparked a tremendous comeback making luxury property sales skyrocket.

More recently, the city’s prime residential market is witnessing wealthy buyers from Russia flocking to Emirates as sanctions drive oligarchs out of Europe. 

Property agents predict at least 100,000 Russians have settled down in the UAE since the onset of the Russian invasion of Ukraine, which has almost doubled the size of the community there. 

Wrapping Up

Dubai’s luxury property market is witnessing substantial growth, buoyed by a large number of ultrarich snapping up properties in the prime neighbourhoods.

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Energy & Environment Financial Market Technology World

Offshore Oil and Gas Sector Set for a Tremendous Comeback; $214B of New Project Investments Lined Up

With project investment worth $214B or above lined up, the global offshore oil and gas (O&G) industry is poised to get a massive boost in the next two years.

The annual greenfield investment is predicted to hit a decade-high record in 2023 and 2024, said OILPRICE.com citing Rystad Energy research.

The Comeback Is Happening Now

Offshore production projects are forecasted to comprise roughly 68% of all approved traditional hydrocarbon-based projects during the projection period 2023-24—up from 40% during 2015-2018. 

This expected activity increase is buoyed by strong oil prices and rig demand. As of March 07, 2023, WTI crude oil values $77.76 per barrel, which is high enough to prompt operators to boost production activities, and that should continue into next year. 

Additionally, the cost of imported fossil fuels has spiralled upward since 2022 as supply chain challenges have been exacerbated by Russia’s invasion of Ukraine. 

The Ukraine conflict is anticipated to propel the development of relatively high-CAPEX offshore (both platform and subsea-based) O&G projects, with a range of regions like Europe shunning Russian fossil fuels and seeking ways to ramp up energy production from alternative sources.

The result: offshore schemes will constitute almost 50% of the total projects expected to get sanctioned globally between 2023 and 2024, which was only 29% during 2015-18.

Experts expect these new projects to be the key factor in driving the expansion of the offshore system market, with supply chain investment to witness an upturn of 16% between 2023 and 2024, a record-high year-on-year increase of around USD 21B in the last ten years. 

Other Key Players Stimulating Subsea Production Activities

As global demand for fossil fuel continues to pick up, casting about carbon-free energy sources has now become a major concern. The world is set to undergo an energy transition as it slides away from fossil fuels to less carbon-intensive energy sources.

As one of the least carbon-intensive hydrocarbon extraction techniques, offshore O&G production offers the industry a solid footing for significantly decoupling carbon dioxide emissions from the production process.

“Offshore oil and gas production isn’t going anywhere, and the sector matters now, possibly more than ever. As one of the lower carbon-intensive methods of extracting hydrocarbons, offshore operators and service companies should expect a windfall in the coming years as global superpowers try to reduce their carbon footprint while advancing the energy transition,” stated Audun Martinsen, head of supply chain research with Rystad Energy.

Citing Rystad Energy, Offshore predicts the subsea production sector to reign in the offshore industry, with a substantial number of subsea trees up for grabs in the upcoming years.

With subsea oil production boosting, ensuring high-end reservoir monitoring has become the key concern today. 

For subsea production operators looking to increase production while minimising OPEX across a subsea well lifecycle, investing in a permanent reservoir monitoring system like Silixa is a sensible decision. 

By enabling intervention-free operations and delivering a high-seismic signal-to-noise ratio for seismic surveys with fewer shots, a high-end reservoir monitoring system significantly saves on operation time and cost. 

Offshore Sector Comeback: The Global Outlook

An uptick in high-impact drilling activity in offshore Namibia, the Gulf of Mexico, South America, and the Eastern Mediterranean is the key player in accelerating the development of the subsea oil production sector.

Case in point: The highly stable high-impact drilling has helped resource discovery soar to 9.2B barrels of oil equivalent (boe) in 2022—up from 7.4B boe in 2021, according to Westwood.

On the other hand, the proportion of discovered wells with the potential to turn into commercial development rose to 36% in 2022 from 29% in 2021.

Again, with 47 production licences awarded to a total of 25 oil companies by the Royal Norwegian Ministry of Petroleum and Energy in January 2023, the country is heading for an oil production surge. 

While Norway is fast becoming the key player in helping Europe reduce its reliance on Russian energy imports, uncertainties spurred by the Energy Profits Levy are still looming over the UK.

However, offshore development spending in the UK is predicted to increase 30% in 2023 to a total of $7 billion.

The Middle Eastern offshore sector will steadily expand, if not booms, while South American spending is projected to plunge in 2025.

Wrapping Up

With the world trying to deal with the current energy crisis, more emphasis is placed on capitalising on the subsea reservoirs as affordable and safe energy sources. 

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Business Computers & Software Technology Transportation & Logistics World

Aramtec Adopts RISE with SAP and S/4HANA to Accelerate Digital Transformation

One of the longest-established foodservice businesses in Dubai, Arabian American Technologies Co. (Aramtec), is reportedly adopting RISE with SAP and S/4HANA.

The company has curated a year-long strategy—Project Phoenix—as part of its effort to facilitate the implementation of RISE with SAP and S/4HANA and transform it into a fully SAP-powered Intelligent Enterprise, according to Intelligent CIO.

RISE with SAP and S/4HANA

For SAP enterprises operating their SAP workloads on the cloud or on-premise, RISE with SAP helps streamline business processes for workflow efficiency while unifying cost and business goals with the OPEX-based cost model.

Enabling businesses to use a range of SAP tools, RISE with SAP expands the value SAP delivers beyond ERP functionality to holistic business value.

On the other hand, S/4HANA allows SAP enterprises to shift and modernise to the cloud and leverage the in-memory database technology. 

That being said, SAP S/4HANA is not competitive with or separate from RISE with SAP—it’s one of the six primary offerings included in RISE’s bundled solutions.

For companies looking to accelerate business agility and digital transformation, adopting RISE with SAP or S/4HANA is a sensible decision. 

On top of that, with SAP ECC mainstream support phasing out in 2027, enterprises are quickly migrating to SAP S/4HANA. 

Even though these technologies help drive business value, assimilating new systems requires enterprises to invest in SAP consulting services like Protera. With operational support and strategic guidance, SAP consulting services help SAP-focused companies make the most of their investment.

Aramtec’s Move to SAP

The increasing need for improved visibility, scalability, and control over supply chain operations is pushing enterprises toward cloud deployments. As part of its effort to become digitally empowered and transform into a cloud-based company, Aramtec has decided to leverage the innovative systems offered by the leading multinational software company SAP SE. 

The company hopes SAP’s experience in the food industry and supply chain management will help automate and enhance its end-to-end processes of delivering food services to airlines, hotels, restaurants, and various commercial F&B outlets. 

“Our objective is to capitalise on the digitisation and automation benefits of technology to run our business more smoothly and to optimise our productivity and efficiency. We are set to achieve greater visibility and control over all areas of Aramtec’s operations as well as our complex supply chain and distribution network, as we have more than 2000 stock-keeping units, SKUs distributed to thousands of customers,” stated Edgard Chalhoub, General Manager of Aramtec. “Ultimately, Aramtec will have the capacity to respond quickly to our customers’ needs and changes in the supply chain environment.”

Zakaria Haltout, Managing Director of SAP UAE, went on to say, “The commitment Aramtec has made to becoming an SAP-designated Intelligent Enterprise means it is aligned with regional digital transformation plans while enhancing the services it delivers to existing and new-market customersBy leveraging SAP’s cloud-based S, 4HANA, Aramtec will benefit from the latest SAP technologies and updates. It will enjoy precise stock control and record keeping, 360-degree views of all operations, automation of business processes, reduced total cost of ownership, and the ability to manage business change and scale operations rapidly.”