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  • Algorithmic Justice League: Gender Shades

    How well do IBM, Microsoft, and Face++ AI services guess the gender of a face? The Gender Shades project evaluates the accuracy of AI powered gender classification products. This evaluation focuses on gender classification as a motivating example to show the need for increased transparency in the performance of any AI products and services that focused on human subjects. Bias in this context is defined as having practical differences in gender classification error rates between groups. 1270 images were chosen to create a benchmark for this gender classification performance test. The subjects were selected from 3 African countries and 3 European countries. The subjects were then grouped by gender, skin type, and the intersection of gender and skin type. Gender Labels Gender was broken into female and male categories since evaluated products provide binary sex labels for the gender classification feature. The evaluation inherits these sex labels and this reduced view of gender which is a more complex construct. The dermatologist approved Fitzpatrick skin type classification system was used to label faces as Fitzpatrick Types I, II, III, IV, V, or VI. Then faces labeled Fitzpatrick Types I, II, and III were grouped in a lighter category and faces labeled Fitzpatrick Types IV, V, and VI were grouped into a darker category. Three companies - IBM, Microsoft, and Face++ - that offer gender classification products were chosen for this evaluation based on geographic location and their use of artificial intelligence for computer vision. While the companies appear to have relatively high accuracy overall,there are notable differences in the error rates between different groups. Let's explore. All companies perform better on males than females with an 8.1% - 20.6% difference in error rates. All companies perform better on lighter subjects as a whole than on darker subjects as a whole with an 11.8% - 19.2% difference in error rates. When we analyze the results by intersectional subgroups - darker males, darker females, lighter males, lighter females - we see that all companies perform worst on darker females.IBM and Microsoft perform best on lighter males. Face++ performs best on darker males. IBM and Microsoft perform best on lighter males. Face++ performs best on darker males. IBM had the largest gap in accuracy, with a difference of 34.4% in error rate between lighter males and darker females. IBM Watson leaders responded within a day after receiving the performance results and are reportedly making changes to the Watson Visual Recognition API. Official Statement. Error analysis reveals 93.6% of faces misgendered by Microsoft were those of darker subjects. An internal evaluation of the Azure Face API is reportedly being conducted by Microsoft. Official Statement. Statement to Lead Researcher. Error analysis reveals 95.9% of the faces misgendered by Face++ were those of female subjects. Face++ has yet to respond to the research results which were sent to all companies on Dec 22 ,2017 At the time of evaluation , none of the companies tested reported how well their computer vision products perform across gender, skin type, ethnicity, age or other attributes. Inclusive product testing and reporting are necessary if the industry is to create systems that work well for all of humanity. However, accuracy is not the only issue. Flawless facial analysis technology can be abused in the hands of authoritarian governments, personal adversaries, and predatory companies. Ongoing oversight and context limitations are needed. While this study focused on gender classification, the machine learning techniques used to determine gender are also broadly applied to many other areas of facial analysis and automation. Face recognition technology that has not been publicly tested for demographic accuracy is increasingly used by law enforcement and at airports. AI fueled automation now helps determine who is fired, hired, promoted, granted a loan or insurance, and even how long someone spends in prison. For interested readers, authors Cathy O'Neil and Virginia Eubanks explore the real-world impact of algorithmic bias. Automated systems are not inherently neutral. They reflect the priorities, preferences, and prejudices - the coded gaze - of those who have the power to mold artificial intelligence. We risk losing the gains made with the civil rights movement and women's movement under the false assumption of machine neutrality. We must demand increased transparency and accountability. Learn more about the coded gaze -algorithmic bias - at www.ajlunited.org Dive Deeper: Gender Shades Academic Paper Test Inclusively: Request external performance test Request Pilot Parliaments Benchmark

  • Virgin Atlantic returns to Cape Town with daily services

    May 23, 2022. WEST SUSSEX. A firm favourite with customers, the service will operate on a Boeing 787-9 with fares starting from £711 economy return. Virgin Atlantic returns to Cape Town with daily services Virgin Atlantic’s much anticipated service to Cape Town launches on 5th November 2022 The daily service operates on a Boeing 787-9 aircraft Prices start from £711 per person Virgin Atlantic is delighted to return to Cape Town from 5th November 2022 with a new daily service. A firm favourite with customers, the service will operate on a Boeing 787-9 with fares starting from £711 economy return. The aircraft boasts three classes, Upper Class, Premium and Economy offering different experiences for customers as well as the airline’s world-famous social space. The new winter service runs until 24th March 2023 and will complement the existing year-round daily service to Johannesburg. With demand for travel ever-increasing, sunseekers can take full advantage of the beautiful destination with easier access than ever before. Known not only for its natural beauty, but rich culture and heritage too, there is something for everyone to enjoy at this much-loved destination. Home to Robben Island, customers can visit the prison where Nelson Mandela was held, which is now a living museum. Some may wish to challenge their adventurous side by riding the cable cars to Table Mountain’s flat top for sweeping views of the city. Those looking for something more laid-back are at the gateway to the Cape Winelands, the country’s top region for wine tasting tours. Juha Jarvinen, Chief Commercial Officer at Virgin Atlantic commented: “We’re incredibly excited to return to the fabulous city of Cape Town with daily services from November. “Although a little later than we we’d have liked due to the Covid-19 pandemic, the move reflects the fact that travel is recovering and global demand for holidays to sunny, premium destinations is returning at pace. “We’re expecting a high proportion of leisure travellers on this route who will rightly be taking advantage of the winter sun, exploring the world-renowned wine regions and soaking up the rich culture this incredible country has to offer.” Route facts Aircraft type Boeing 787-9 with 31 Upper Class, 35 Premium and 192 Economy Delight Classic and Light seats. Route frequency Daily. Flight timings and flight number LHR – CPT – VS478 16:20 / 06:00 + 1 CPT – LHR – VS479 07:50 / 17:45 Date of restart 5th November 2022. Fares Flights on sale now - return Economy fares start from £711 per person, Premium from £1318 per person and Upper Class from £3454 per person. For further information please contact press.office@fly.virgin.com2 About Virgin Atlantic Virgin Atlantic was founded by entrepreneur Sir Richard Branson in 1984, with innovation and amazing customer service at its core. In 2021, Virgin Atlantic was voted Britain’s only Global Five Star Airline by APEX for the fifth year running in the Official Airline Ratings. Headquartered in London, it employs 6,500 people worldwide, flying customers to 27 destinations across four continents. Alongside shareholder and Joint Venture partner Delta Air Lines, Virgin Atlantic operates a leading transatlantic network, with onward connections to over 200 cities around the world. On 3 February 2020, Air France-KLM, Delta Air Lines and Virgin Atlantic launched an expanded Joint Venture, offering a comprehensive route network, convenient flight schedules, competitive fares and reciprocal frequent flyer benefits, including the ability to earn and redeem miles across all carriers. Sustainability remains central to Virgin Atlantic, having taken an industry leadership position through its long-standing support for SAF commercialisation and fleet transformation programme. Since September 2019, the airline has welcomed eight new Airbus A350-1000 with a further A350-100 and three A339s entering the fleet in 2021. By the end of 2022 the average fleet age will be just over six years, driving a fuel efficiency (CO2 /RTK) improvement of 30% compared to 2007. For more information visit www.virginatlantic.com or via Facebook, Twitter and Instagram @virginatlantic.

  • IsDBI and Partners Discuss Deepening Collaborations during IsDB Group Annual Meetings

    June 1-2, 2022. SHARM EL-SHEIKH. The meetings aimed to discuss the progress of projects under implementation as well potential future collaborations with the various institutions to proactively support the Islamic finance industry with innovative and sustainable development solutions. The Islamic Development Bank Institute (IsDBI) held a series of bilateral meetings with various partner organizations on 1-2 June 2022 on the side lines of the 2022 IsDB Group Annual Meetings in Sharm El Sheikh, Egypt. The meetings aimed to discuss the progress of projects under implementation as well potential future collaborations with the various institutions to proactively support the Islamic finance industry with nnovative and sustainable development solutions. Dr. Sami Al-Suwailem, Acting Director General of IsDBI and Chief Economist, led the Institute’s team during the meetings, supported by Dr. Rami Abdelkafi, Team Leader for Knowledge Leaders, and Mr. Syed Faiq Najeeb, Senior Islamic Finance Specialist. I n one of the sessions, the IsDBI team hosted H.E. Dr. Khaled Al-Mabrouk Abdullah Al-Mabrouk, Minister of Finance of Libya, where they discussed the implementation of a memorandum of understanding signed recently by the IsDB and Libyan government. The Minister requested IsDBI’s support in enhancing capacity of various development finance institutions in Libya. The IsDBI assured of its full support to Libya and will assign relevant teams to engage in technical discussions in due course. The IsDBI team also held separate meetings with the heads of three Islamic finance infrastructure institutions. These were Dr. Bello Lawal Danbatta, Secretary General of the Islamic Financial Services Board (IFSB), Dr. Rami Sulaiman Abudaqqa, Chief Executive Officer of International Islamic Centre for Reconciliation and Arbitration (IICRA), and Dr. Abdelilah Belatik, Secretary General of the General Council for Islamic Banks and Financial Institutions (CIBAFI). In these meetings, discussions centered on the Institute’s technical support to the infrastructure institutions as well as collaboration in various areas including capacity building and knowledge dissemination. IsDBI assured the institutions of its support in working together to provide innovative solutions to the present and near-future challenges of the Islamic finance industry. The IsDBI team also held discussions with Mr. Sahba Sobhani, Director of the UNDP Istanbul International Center for Private Sector Development (IICPSD), Mr. Hassan Moussa Yassin, Executive Director of the Central Bank of Djibouti, and Mr. Gonzalo Rodriguez, Director of the Saudi-Spanish Center for Islamic Economics and Finance (SCIEF). During the sessions, Dr. Sami Al-Suwailem underscored the significance of proactively raising the bar in enhancing value-based solutions and guidance to the industry that not only strengthens Islamic finance industry’s resilience but also solves the development challenges of IsDB member countries. In the meeting with UNDP IICPSD, the discussions took stock of progress in current collaborations as well as plans for future projects to be implemented under the joint IsDB- UNDP Global Islamic Finance and Impact Investing Platform (GIFIIP). In the other meetings, the IsDBI assured of its support to the Central Bank of Djibouti in developing its Islamic finance strategy. The Institute also agreed to explore the possibility of renewing the Islamic Finance Change makers Competition for a second round to be jointly organized with the SCIEF. The bilateral meetings concluded overall on a very positive note with ambitious development plans for the Islamic finance and economic industry, led by IsDBI in collaboration with its various partner institutions.

  • mai-listed companies post total sales of THB 48.38 bln in Q1/2022

    May 27, 2022. BANGKOK. Q1 combined sales up 20.4 pct y-o-y to THB 48.38 bln - Net profit up 21 pct y-o-y to THB 2.74 bln - Services, Property & Construction, Technology, and Agro & Food Industry industry groups with higher operating profits. Bangkok, May 27, 2022 –Market for Alternative Investment (mai)-listed companies recorded total sales of THB 48.38 billion (approx. USD 1.41 billion) in the first quarter of 2022, or a 20.4 percent rise from the same period last year, while operating profits totaled THB 2.50 billion, or a 7.2 percent drop. The industry groups that delivered the higher operating profits over the same period were Services, Property & Construction, Technology and Agro & Food Industry. mai President Prapan Charoenprawatt said that 179 mai-listed companies or 96 percent of the total 186 companies (excluding those in the non-compliance or NC group and those with different accounting period close) submitted their financial reports for the first quarter ended March 31, 2022. Out of these, 119 listed companies, accounting for 66 percent, recorded net profits. For the first quarter of 2022, mai-listed companies’ cost of goods sold increased by 25.6 percent from the same period a year ago to THB 38.44 billion, lowering gross profit margin to 20.5 percent from 23.8 percent. However, the overall net profit amounted to THB 2.74 billion, a 21 percent rise, due to the fact that a listed company recognized one-off profit worth THB 1.42 billion from a disposal of a power plant. Compared with the final quarter of last year, mai-listed companies’ combined sales rose by 0.6 percent with the lower gross profit margin to 20.5 percent from 21.6 percent, and a 10.9 percent decline in operating profits. “In the first quarter of 2022, the government further relaxed the COVID-19 restrictions, enabling most business organizations to resume the near normal activities. The Russia-Ukraine war impacted mai-listed companies’ costs and started to erode their profitability, however. All in all, four industry groups comprising Services, Property & Construction, Technology and Agro & Food Industry managed to record higher operating,” added Prapan. In terms of financial position, mai-listed firms’ total assets rose by 1.78 percent from the end of 2021 to THB 289.80 billion at the end of March 2022. The overall financial structure was strengthened, with debt-to-equity ratio (D/E ratio) of 0.94 time, a decrease from 1.02 times at end 2021. As of May 25, 2022, there were 186 mai-listed companies and the benchmark Index closed at 641.64 points, with the total market capitalization of THB 524.36 billion and average daily trading value of THB 7.61 billion. “SET…Make it Work for Everyone” Follow us on Twitter @SET_Thailand_EN Attachment of SET Release 40/2022 Q1/2022 mai-listed companies’ performance by industry groups Q1/2022 mai-listed companies’ profit margin by industry groups “SET…Make it Work for Everyone” Follow us on Twitter @SET_Thailand_EN Members of the media please contact the Media Relations Unit, Corporate Communications Dept.: Oranan Paweewun tel: +66 (0) 2009 9489/ Arada Therdthammakun tel: +66 (0) 2009 9483/ Kanokwan Khemmalai tel:+66 (0) 2009 9478

  • Bank of Singapore unveils onshore entity to capture growth opportunities in Malaysia

    June 1, 2022. SINGAPORE, MALAYSIA. With the opening of BOSWM Malaysia, it further expands Bank of Singapore’s coverage of the Southeast Asia region. The official opening was officiated by the Group CEO of OCBC Bank, Ms Helen Wong (2nd right); Bank of Singapore CEO, Mr Bahren Shaari (2nd left); Bank of Singapore Global Market Head (Singapore, Malaysia & International), Mr Olivier Denis (leftmost); & BOSWM Malaysia CEO Mr Teh Chi-Cheun. Bank of Singapore Bank of Singapore, the private banking arm of Southeast Asia’s second largest financial services group, OCBC Group, today unveiled its onshore entity, BOS Wealth Management Malaysia (BOSWM Malaysia), that further positions Bank of Singapore to capture growth opportunities in Malaysia. By leveraging on Bank of Singapore’s expertise, BOSWM Malaysia will be able to offer a comprehensive range of customised wealth management solutions and investment advisory services to its ultra-high and high net worth clients in Malaysia. The establishment of BOSWM Malaysia makes Malaysia the first market after Singapore to have a comprehensive onshore presence that supports OCBC Group’s core business pillars – banking, wealth management and insurance. Other subsidiaries that have presence in Malaysia include OCBC Bank Malaysia and Great Eastern. This supports the vision of OCBC Group to become the leading wealth management player in Malaysia. The launch of BOSWM Malaysia also comes at an opportune time. According to Knight Frank’s Wealth Report 2022, Malaysia is expected to see a 43% increase in the number of ultra-high net worth individuals between 2021 and 2026 – one of the fastest in Asia. Heading the Malaysian entity is Chief Executive Officer Mr Teh Chi-Cheun, a veteran finance professional with over 25 years of experience in investment and asset management. BOSWM Malaysia presently has close to 60 employees. An official opening ceremony was held today and was attended by the Group Chief Executive Officer of Bank of Singapore’s parent company OCBC Bank, Ms Helen Wong; Bank of Singapore Chief Executive Officer, Mr Bahren Shaari; and OCBC Bank Malaysia Chief Executive, Dato’ Ong Eng Bin; as well as the staff of BOSWM Malaysia. Chief Executive Officer of Bank of Singapore, Mr Bahren Shaari, said, “Establishing an onshore presence in Malaysia through BOSWM Malaysia positions Bank of Singapore well to serve the wealth and investment needs of Malaysia’s ultra-high net worth and high net worth individuals. There is clearly potential for this market to develop and flourish – we can build on the existing synergy in this market given that the OCBC Group is already well represented here through its subsidiaries, OCBC Malaysia and Great Eastern.” For media queries, please contact: Dawn Sin Vice-president Group Brand & Communications OCBC Bank Email: dawnsin@ocbc.com Ow Yong Weng Leong Vice-president Group Brand & Communications OCBC Bank Email: wengleong@ocbc.com

  • J-Startup Hour 119th "Sapporo / Hokkaido Session" will be held from 18:00 on 4/28 (Thursday)!

    April 25, 2022. HOKKAIDO. The Ministry of Economy, Trade and Industry is holding "J-Startup Hour" as a part of the flagship program "Thursday Gathering" of Venture Cafe Tokyo, which is held every Thursday at CIC Tokyo. The 119th J-Startup Hour on 4/28 (Thursday) will be titled "Sapporo / Hokkaido Session" and will be attended by 6 J-Startup HOKKAIDO companies. Meet-up is planned after the event. It will be an opportunity to connect with startups in Sapporo and Hokkaido, so please join us! !! [Overview] Title: J-Startup Hour 119th "Sapporo / Hokkaido Session" Date and time: Thursday, April 28, 2022 18: 00-19: 00 Location: Toranomon Hills Business Tower 15th Floor CIC Tokyo / Online 【Speakers】 ・ Mr. Toshihiro Nakazono, General Manager, Management Headquarters, Iwatani Giken Co., Ltd. ・ Mr. Takahiro Inagawa, President of Interstellar Technologies Inc. ・ Mr. Yuji Nishijima, CEO of Imple Co., Ltd. ・ Mr. Takeshi Yamamoto, Director and CTO of AirShare Inc. ・ Mr. Ryo Takahashi, Corporate Planning Department, Harmony Giken Co., Ltd. ・ Mr. Tomonao Fujita, CEO of Netdoor Co., Ltd.

  • LSEG to launch new NDF Matching venue in Singapore to support strong demand from Asia market

    May 5, 2022. LONDON. LSEG (London Stock Exchange Group), the providers of Refinitiv Matching, FXall and ForexClear, today announced the development of NDF Matching, a new fully cleared Non-Deliverable Forwards (NDF) Matching venue in Singapore, supported by the Monetary Authority of Singapore (MAS). According to the Bank for International Settlements’ 2019 triennial FX survey, the average daily volume of NDF transactions jumped from $134 billion in 2016 to $258 billion in 2019, and has continued to develop alongside the growing FX market in Singapore. NDF Matching provides market participants with greater choice in where they execute their NDF foreign exchange contracts New offering supports demand for more NDF Central Limit Order Book trading venues in Asia, including from LSEG’s network of over 5,000 FX Trading desktop users in the region Cleared settlement brings innovation to the FX market, including simplified credit management, lower costs, and easier adoption by non-bank participants Singapore location is optimal for minimising trading latencies across Asia This represents the first phase of LSEG’s plans to implement NDF and Spot Matching as well as streaming relationship venues in Asia to meet both the growing demand in the region and increasing electronification of FX trading globally. The integration of clearing into the design of NDF Matching also enables easier access to the full book of liquidity in the venue for all participants. The venue will be open for integration testing later this year, with a full production launch in mid-2023. The launch of NDF Matching is also the first stage of LSEG re-platforming its FX venues to its core technology. This will provide customers with greater performance and improved functionality, and support increased product innovation. Lim Cheng Khai, Executive Director of the Financial Markets Development Department, MAS, said: “LSEG’s decision to launch cleared NDF Matching in Singapore underscores Singapore’s position as a price discovery hub. As a leading inter-dealer platform, LSEG’s venue is a key addition to our FX ecosystem and will play an important role in meeting Asian market players’ growing FX needs.” Neill Penney, Group Head of FX, LSEG, said: “As a leading provider of FX and capital markets solutions, there has been strong demand for LSEG to enter the NDF CLOB market as participants look for greater choice in where they execute. Singapore boasts a leading position as an FX hub and we are grateful for the support from MAS as we launch this new initiative. This is the first FX venue to be delivered on LSEG’s leading-edge technology. We look forward to bringing the benefits of this improved technology to our market-leading Spot Matching and FXall venues in future phases of our re-platforming.” James Pearson, Head of ForexClear, LCH, said: “ForexClear, and its divisional partners within LSEG, are excited to collaborate with the MAS to launch NDF Matching in Singapore. It exemplifies not only the focus on Asia for LCH, and across LSEG, but also the innovation possible within LSEG to create a trading platform wherein a broader array of market participants can decide on a pre-trade basis to clear their NDFs. Margin savings (driven by UMR), operational efficiencies, and credit intermediation advantages will be a fundamental feature of this industry-first platform, all of which have underpinned the recent rapid growth of ForexClear and NDF clearing. In Q1 2022, ForexClear cleared on average $100 billion of NDFs daily, and we look forward to providing the compelling benefits of FX clearing to more participants as this market continues to grow.” Singapore is currently ranked the largest FX centre in Asia, and third largest globally according to the Bank for International Settlements’ Triennial Central Bank Survey of Foreign Exchange and Over-the-counter (OTC) Derivatives Markets in 2019. This has been driven by the influx of the world’s leading FX dealers, which have launched electronic trading engines within its SG1 data centre. LSEG offers the world’s leading independent source of trusted FX market insight, interbank and dealer-to-client electronic trading venues, workflow management, and post-trade and regulatory support for both sell-side and buy-side participants. The Group continues to make additional investments in and enhancements across its global FX offering. In June 2021, LSEG announced that FXall would connect to ForexClear for FX OTC trade clearing, enabling FXall buy-side users to streamline and accelerate access to clearing of FX OTC trades. Developed in partnership with market participants, ForexClear delivers unmatched capital and operational efficiencies, including the flexibility and choice of both US and European clearing models. – Ends – For further information LSEG Press Office Silke Marsh / Nandeep Roopray +44 (0)20 7797 1222 +65 9793 4140 newsroom@lseg.com www.lseg.com

  • 99minutos Raises $82 Million Series C Round Led by OAK HC/FT

    Mar 02, 2022. MEXICO CITY New funding to accelerate expansion, as 99minutos moves closer to becoming a leading tech company for e-commerce logistics in the region - 99minutos, the scale up offering affordable, fast and reliable logistics services for e-commerce vendors across Latin America, today announced a US$82 million fundraising round led by OAK HC/FT, with participation from existing investors Kaszek and Prosus Ventures. Since its last funding round in May 2021, 99minutos' operation and business has grown threefold. The Series C funding will now enable the company to execute a three-pronged strategy made up by scaling new business models, http://punto99.mx/expanding further into LatAm, and investing in new sustainability initiatives in line with the company's low-carbon goals. The market size for retail e-commerce in LatAm is expected to increase to US$160 billion by 2025, compared to an estimated US$85 billion in 20211. This incredible acceleration requires logistics infrastructure to scale accordingly, in addition to the need for specialized services across the entire supply chain. To address these needs, 99minutos will continue to grow its core last-mile delivery business, as well as expand its suite of services for e-commerce logistics. These new offerings include Punto 99, a new Pickup/Dropoff network; new services to cover the entire fulfillment process, including storage and picking & packing; and the launch of a route tracking and optimization SaaS solution for its customers. This round will also fund a comprehensive plan to further the company's positive ecological impact, including investments to increase the use of electric vehicles and other sustainable practices in their operations. "The quality and depth of the technology we have developed in the past year, coupled with the new talent we have brought on board has enabled us to scale our operations, become more efficient, and prepare us for more structured growth," said Alexis Patjane, CEO of 99minutos. "We are eager to continue investing in our technology and infrastructure with the goal of becoming the largest, most sustainable provider of e-commerce logistics in Spanish-speaking LatAm. These ambitions inspired us to partner with the expert team at Oak HC/FT." "Ecommerce in LatAm has experienced exponential growth over the past few years, creating a clear need for effective technology solutions to enable a seamless process from order to delivery," said Allen Miller, Principal at Oak HC/FT. "99minutos is meeting this need and has impressively expanded beyond its core last-mile offering to become the leading technology logistics and fulfillment company in the region. We look forward to supporting the team as the company continues its growth and expansion in LatAm." About 99minutos Founded in Mexico City in 2014, 99minutos is transforming the e-commerce landscape in Latin America by offering the fastest and most reliable logistics services for e-commerce vendors across Mexico, Colombia, Chile and Peru. Through its five distinct services: less than 99 minutes, same-day, next-day, CO2-free delivery, and economy, 99minutos handles more than 15 million packages per year for major e-commerce companies and thousands of smaller e-commerce brands. About OAK HC/FT Oak HC/FT is a venture and growth equity firm investing in companies driving transformation in healthcare and fintech, two uniquely complementary and high-growth sectors. With deep domain expertise and strategic resources, Oak HC/FT partners with leading entrepreneurs at every stage, from seed to growth, to build businesses that make a measurable, lasting impact on these industries. Founded in 2014, the firm has $3.3 billion in assets under management and is headquartered in Greenwich, CT, with investors in San Francisco and Boston. Follow Oak HC/FT on Twitter and LinkedIn and learn more at oakhcft.com. About Prosus Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities. The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors. Through the Prosus Ventures team, the group invests in new technology growth opportunities within logistics, fintech, health, blockchain, social and ecommerce platforms, agriculture and more. The team actively backs exceptional entrepreneurs who are using technology to improve people's everyday lives. Each month, more than 2 billion customers across the globe use the products and services of companies that Prosus has invested in, acquired or built. To find out more, please visit www.prosus.com. About Kaszek Kaszek is a Latin American venture capital firm that partners with exceptional entrepreneurs to build lasting, high-impact technology-based companies whose main initial focus is Latin America. The firm is industry and stage agnostic, mainly investing in Seed, Series A and Series B. In addition to capital, it provides first-hand expertise and insights in strategy, operational execution, team building, growth, technology, product, networking, fundraising and more. Some of the fund's portfolio companies are: Nubank, QuintoAndar, Kavak, Creditas, TheNotCompany, Konfio, Bitso, GymPass, MadeiraMadeira, Escale, Kushki, NuvemShop, DigitalHouse, LaHaus, and CrediJusto. www.kaszek.com/portfolio. 1 https://www.statista.com/statistics/445860/retail-e-commerce-sales-latam/#:~:text=In%202020%2C%20retail%20e%2Dcommerce,160%20billion%20dollars%20by%202025. CONTACT: Jaimee Pavia, pro-oakhcft@prosek.com SOURCE 99minutos

  • McKinsey & Company Revolutionizes Customer Experience with Experience DNA Launch

    January 25, 2021. NEW YORK & LONDON. The new platform transforms how companies interact with their customers through actionable real-time insights. McKinsey & Company today announced the launch of its new innovative data analytics platform, Experience DNA, to help organizations maximize the value of customer experience (CX) management and design. The first of its kind, the platform allows CX leaders to use real-time customer, operational, and financial data to make predictions about customer satisfaction, ultimately helping businesses target key customers. It’s a significant leap toward real-time, comprehensive customer insight, giving companies a strategic tool to drive market differentiation by predicting the financial value for each customer segment. Until now, organizations have been limited to using survey tools and sampling techniques developed nearly two decades ago. Only 6 percent of CX leaders believe using such historical insight to gauge loyalty enables both strategic and tactical decision making.1 These legacy tools are unable to translate today’s massive volume of data and signals into action to make faster, smarter decisions that drive acquisition, customer satisfaction, market differentiation, and profitability. To meet the needs of the new customer, business leaders need to make disruptive changes to the customer experiences they offer. Experience DNA enables such change. The New World of Act-Now Customer Experience Experience DNA’s predictive insights tailor recommendations for strategic decision making and real-time engagement on customer journeys. Early adopters are seeing significant gains across a range of customer experience indicators, including: An airline company achieved an 800 percent increase in satisfaction among key customer segments through more-targeted post-delay compensation A hospital uncovered a $2.5 billion revenue uplift opportunity through improved segmentation A bank achieved a 20- to 40-point lower attrition rate through the identification of churn drivers Experience DNA delivers a significant step change in customer experience insights and recommendations by combining data collection, aggregation, machine learning, and predictive analytics. This allows CX leaders to make informed decisions in the moment and in the future: Near 100 percent visibility of their customers and the impact of their experiences Make predictions on how business actions will impact satisfaction and value measures like revenue, cost to serve, or churn Drive real-time engagement decisions to improve an individual customer’s experience Take proactive action on opportunities and challenges Plan ahead on CX efforts to maximize both satisfaction and ROI, with value-based strategic decision-making and accurate performance measurement Build Customer Relationships Through Proactive, Tailored Daily Engagement It takes the average organization nearly a month to generate meaningful action on the results of a survey, and those actions are inevitably built for the “average respondent.” Experience DNA allows real-time insight and proactive intervention tailored to customers’ needs, removing the need to wait for a survey to identify an opportunity and enabling businesses to anticipate and respond immediately. Prioritize Journey Enhancements and Drive ROI Customer-centric organizations drive real value. In fact, since the last economic recession, CX leaders have seen threefold greater increases to shareholder returns than CX laggards.2 Experience DNA provides first-of-its-kind insight into the real experience drivers of financial value so organizations can prioritize actions that drive both customer loyalty and real ROI. Kevin Neher, Senior Partner, McKinsey & Company “2021 will be a year of transition as leaders look to pivot back to growth. It’s time for a bold reset to deliver experiences that are targeted, predictive, and responsive. By doing so, companies can go from ‘How are we doing?’ to ‘How do we deliver on what customers want, now?’ This customer-focused, data-driven approach allows companies to unlock efficiencies, predict customer behavior, track satisfaction drivers, anticipate churn, and act on real opportunities to create interactions that are truly meaningful and sticky.” Nicolas Maechler, Senior Partner, McKinsey & Company “While many corporate functions such as sales, operations, and supply chains have capitalized on new capabilities in data and analytics, CX has not leveraged these yet. Experience DNA enables CX leaders to leapfrog into the future by making CX predictive, real-time, and actionable in the moment. This new frontier of CX means that companies can utilize predictive scoring, foresee satisfaction, spot likely churn, and flag opportunities to turn loyalty into profitability.” To learn more about Experience DNA, visit www.mckinsey.com/xDNA. About McKinsey & Company McKinsey & Company is a global management consulting firm committed to helping organizations create Change that Matters. In more than 130 cities and 65 countries, our teams help clients across the private, public, and social sectors shape bold strategies and transform the way they work, embed technology where it unlocks value, and build capabilities to sustain the change. Not just any change, but Change that Matters—for their organizations, their people, and in turn society at large. About Marketing & Sales, McKinsey & Company The mission of the McKinsey Marketing & Sales Practice is to help leaders of both consumer and business-to-business clients create Growth that Matters through meaningful transformations and marketing-driven profit. The practice helps its clients set their strategic direction, develop their marketing and sales capabilities, and connect their organization to realize the full potential of today’s omnichannel opportunities. Clients benefit from McKinsey’s experience in core areas of marketing such as branding, customer insights, marketing ROI, digital marketing, CLM pricing, and sales and channel management. For further information please contact: Media Contacts: Lorena Duke / Jessica Mularczyk, Ascendant Communications, mckinsey@ascendcomms.net, +44 (0) 20 8334 8041 / +1 508 498 9300. 1 McKinsey Customer Experience Survey (survey of 260 CX leaders across 14 industries, completed in 2020) 2 CX leaders delivered threefold greater cumulative returns to shareholders from pre-recession in 2007 to post-recession in 2010 (Source: Forrester Customer Experience Performance Index 2007–2009)

  • Nielsen Study Reveals Significant Growth of Asian Representation on TV in 2021

    May 18, 2022. NEW YORK. Streaming Led with 11% Asian Share of Screen in 2021, Nearly Doubling Representation from 2020 A global leader in audience measurement, data and analytics, today released its 2022 Asian American, Native Hawaiian and Pacific Islander Diverse Intelligence Series report which noted a significant increase in Asian representation on screen in 2021. Across the top 1,500 shows in broadcast, cable and streaming video on demand (SVOD), SVOD led the way with 11% Asian share of screen compared to broadcast (3.2%) and cable (2.7%). The presence of Asian talent in top-rated shows like FBI, Equalizer, and Chicago Med, and the debut of Asian-led programs like FOX's The Cleaning Lady indicate the industry is responding to growing calls for more Asian-inclusive content. "The media industry continues to make progress in its inclusive representation of Asian American, Native Hawaiian, and Pacific Islander (AANHPI) characters, themes and narratives," said Pat Ratulangi, Nielsen's VP, Diversity, Equity & Inclusion. "However, that representation on screen is still below the Asian population in the U.S. Now is an important time for the industry to highlight Asian characters, stories and experiences on screen through culturally inclusive programming. Accurate representation on screen can lead to greater understanding, inclusion, engagement and peace off-screen." In the last two years, AANHPI representation in streaming has almost doubled from 6.1% in 2020 to 11% in 2021, the report found. This improvement, coupled with Asian American consumers' growing hunger for more authentic and representative content (two-thirds of Asians still feel there is not enough representation on TV), present an opportunity for more shows that highlight the richness of Asian American experience across platforms. Overall, Asian representation across broadcast, cable and SVOD increased to 4.6% in 2021 (up from 3.5% in 2020). The report notes a significant improvement in representation in the top 10 most-watched shows on broadcast and cable. In 2021, half of the top 10 programs had some Asian talent representation, compared to 2020 when none of the top 10 most-watched shows did. Asian women were present in three of those shows (NCIS, Equalizer and Yellowstone) and Asian men were present in two (Chicago Med and FBI). Other key highlights in the 2022 Asian American, Native Hawaiian and Pacific Islander Diverse Intelligence Series include: Streaming programs drove Asian multigenerational co-viewing. Gen Z co-viewing on Netflix was 4.3x higher than audiences overall. On Netflix, for example, 8.4% of Asian American viewers aged 18-24 watched with someone aged 65-74. In 2021, there was a greater diversity of themes in shows with Asian representation — such as friendship, teamwork, and creativity — than in 2020 when the dominant themes were more stereotypical – cerebral, thoughtful, and good. More than half of Asians surveyed said they are more likely to buy from a brand that advertises in shows that feature Asians, creating an incentive for advertisers to engage with this population. A quarter of brands invest just 4% or less in the programs that represent Asians at parity, while the leaders for Asian-inclusive ad spending invest almost 10x as much. Download the 2022 Asian American, Native Hawaiian and Pacific Islander Diverse Intelligence Series for more details and insights. Please visit www.nielsen.com/asian-american to learn more. Join the discussion on Facebook (Nielsen Community) and follow us on Twitter (@Nielsen_DEI). ABOUT NIELSEN Nielsen shapes the world's media and content as a global leader in audience measurement, data and analytics. Through our understanding of people and their behaviors across all channels and platforms, we empower our clients with independent and actionable intelligence so they can connect and engage with their audiences—now and into the future. An S&P 500 company, Nielsen (NYSE: NLSN) operates around the world in more than 55 countries. Learn more at www.nielsen.com or www.nielsen.com/investors and connect with us on social media. View original content to download multimedia:https://www.prnewswire.com/news-releases/nielsen-study-reveals-significant-growth-of-asian-representation-on-tv-in-2021-301550193.html SOURCE Nielsen

  • EDELMAN TRUST BAROMETER SPECIAL REPORT

    March 10, 2022. NEW YORK Trust and Health reveal trust is a key determinant of health behaviors and outcomes. The 2022 Edelman Trust Barometer Special Report: Trust and Health reveals trust is a key determinant of health behaviors and outcomes. The study found a 21-percentage point difference (82 percent vs. 61 percent) in vaccination rates between those with higher and lower trust in the health ecosystem: the institutions, organizations and individuals that comprise health systems. Those with higher trust in the health ecosystem (72 percent) are also more accepting of evolving scientific recommendations and changing guidelines than those with lower trust (51 percent). Acceptance of public measures that may curb personal freedoms are also more welcome among those with higher trust in the health ecosystem (58 percent) compared to their lower-trusting counterparts (42 percent). Trust in healthcare is under pressure from a variety of sources led by the impact of the pandemic. More than one out of every two respondents (52 percent) say the pandemic decreased their confidence that the healthcare system is well-equipped to handle major health crises. At the height of the pandemic, trust in healthcare companies spiked to 73 percent, but has since fallen to 62 percent. A majority (55 percent) worry medical science is becoming politicized or being used to support a specific political agenda. “Trust has become as vital a force in determining health outcomes as physical environment, economic environment, social environment and personal choice or behavior,” said Richard Edelman, CEO of Edelman. “Trust in health will not be rebuilt in the short term and not through the classic channels of mainstream media. Instead, those with lower trust in the healthcare ecosystem must be engaged directly—through their doctors, pharmacists, faith-based organizations and employers.” The study revealed that health trust is undermined by poor information and consumption habits. The leading sources for vaccine information among the unvaccinated are internet searches and friends and family, while the fully vaccinated turn to their doctor and national health experts. Overall, health information is consumed weekly or more frequently by only one in two (50 percent) respondents. Two-thirds (65 percent) of respondents say there is gap between how well they take care of their health versus how well they should be. When asked to explain the reason for this gap, people pointed to information (47 percent) and cost (50 percent) as top reasons. National health authorities (55 percent) and ‘my employer’ (53 percent) are two of the most believable sources of information on healthcare issues. More than three quarters (77 percent) of employees expect ‘my employer’ to play a meaningful role in making sure they are as healthy as possible. “There is a clear connection between trust and public and personal health outcomes. Neither can be improved without sustained efforts across other institutions as well as those within the health ecosystem. COVID-19 has shown us that you only get strong outcomes when all the actors pull in the same direction,” said Kirsty Graham, Global Chair, Health, Edelman. “With information nearly on par with cost as a barrier to people taking good care of themselves, there is a key role for both businesses and employers to address this gap. Business must break through the information barrier - take the message and the messenger to where people are. They must build trust across the full health ecosystem and acknowledge that as employers they have a crucial role to play. We must take these lessons and use them to build resilience for the next health crisis.” Other key findings from the 2022 Edelman Trust Barometer Special Report: Trust and Health include: Trust in healthcare companies differs by: Income – High (71 percent); Middle (64 percent); Low (55 percent) Geography – Urban (66 percent); Suburban (57 percent); Rural (56 percent) Race/Ethnicity (in the US) – White (62 percent); Black (55 percent); Hispanic (57 percent); Asians (61 percent) Politics (in the US) – Democrat (70 percent); Republican (60 percent); Independent/Third Party (50 percent) 61 percent say they are confident in their ability to find answers about healthcare questions and make informed decisions for themselves and their family, a 10-point decline over 5 years 71 percent say in order to earn or keep their trust, health companies must build and maintain trust in their country’s health system Among those with low-income levels, achieving a higher trust level in the health ecosystem boosts vaccination rates by 14 percentage points, making it equivalent to high income earners (79 percent). The same positive effect is seen in preventive care, with low-income earners nearly as likely to seek regular checkups as high-income earners if they have higher trust in the health ecosystem There are several sources of trust in health that can bridge gaps in trust, with the potential to lead to better access, behaviors and outcomes: My doctor, scientists and pharmacists are among the most trusted voices for health information and protecting the public health Employers are one of the most believable sources of health information, behind only global and national health authorities

  • Announcement on the 2022 Spring Meetings of the International Monetary Fund and the World Bank Group

    February 17, 2022. WASHINGTON. The 2022 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) will take place from Monday, April 18, through Sunday, April 24. The International Monetary and Financial Committee (IMFC) and Development Committee (DC) meetings will be held in hybrid format and participants of those restricted meetings may participate in person or virtually. Public events—including the Program of Seminars and other public events, Civil Society Organization engagements, and press conferences—will be virtual and accessible on IMF and World Bank digital platforms. To accommodate time-differences, events may take place in the week before and after the Spring Meetings. The IMF and WBG will continue to monitor the worldwide health situation and if needed, amend this plan in accordance with relevant [World Health Organization and Centers for Disease Control and Prevention] guidance. Contacts In Washington David Theis dtheis@worldbankgroup.org

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