Your browser does not support JavaScript!

The Rise and Impact of Virtual and AI Technologies in Modern Business and Events

GOOVER DAILY REPORT July 26, 2024
goover

TABLE OF CONTENTS

  1. Summary
  2. Virtual Event Platforms
  3. AI Technology in Business
  4. Integration of AR and VR Technologies
  5. Industry-Specific Applications of Virtual and AI Technologies
  6. Conclusion

1. Summary

  • The report delves into the significant rise and impact of virtual event platforms and AI technologies in modern business and events. It highlights key platforms such as GoBrunch, Remo, Airmeet, and Zoom, and their roles in enhancing virtual meeting experiences with features like breakout rooms and real-time interactions. Additionally, the report examines the contributions of major AI companies in the UK, discussing how tools like generative AI enhance business operations and marketing strategies. Furthermore, it covers the integration of AR and VR technologies in various industries, notably in healthcare and retail, emphasizing how these advancements assist in professional training and customer engagement.

2. Virtual Event Platforms

  • 2-1. GoBrunch: Realistic and Engaging Virtual Meetings

  • GoBrunch is a versatile webinar platform designed to make virtual meetings more engaging. It allows users to host multiple virtual rooms and sessions with comprehensive admin controls over cameras, microphones, and screens. The platform offers a realistic and simple interface for online sessions that mimic in-person events, which helps in driving positive engagement among participants. GoBrunch supports various interactive features such as breakout rooms, the ability for attendees to pick their own seats, video playback, slide presentations, session recording, and detailed frequency reports of attendee participation. Facilitators can manage microphones and cameras to ensure smooth sessions and moderate chats effectively.

  • 2-2. Remo: Boosting ROI with Immersive Virtual Events

  • Remo is an event platform that focuses on hosting immersive virtual events to drive engagement and improve ROI. It includes features like customizable registration and ticketing, interactive virtual tables for networking, and various pre-made floor plans for a dynamic event experience. Attendees can virtually walk up to tables, engage in private audio-video chats, and interact through screen sharing and whiteboards. Remo also offers flexible ticketing options, customizable floor plans to reflect branding, interactive presentation modes with tools like polls and Q&A, and real-time reactions to enhance audience engagement. The platform is designed to simulate authentic in-person interactions and provides extensive event management and attendee engagement features.

  • 2-3. Airmeet: Competitive Edge in Virtual Networking

  • Airmeet has rapidly established itself as a leading platform in the virtual events industry by focusing on replicating the networking and engagement aspects of physical events. Its features include virtual tables for networking, speed networking sessions, interactive stage layouts, and tools for audience engagement such as polls, Q&A sessions, and chat functions. Since its inception in 2019, Airmeet has seen impressive growth, with significant funding rounds and a large user base that includes major clients like Hewlett Packard Enterprise and Coursera. The platform's user-friendly interface and customization options for event branding make it an attractive choice for businesses and organizations seeking to host engaging virtual or hybrid events.

  • 2-4. Zoom: Comprehensive Solution for Virtual Events

  • Zoom is a well-known video conferencing and virtual events platform that has become popular due to its extensive features and ease of use. Zoom offers products such as Meetings, Webinars, Phone System, and Marketplace integrations. It supports large-scale events, with functionalities like breakout rooms, HD video and audio, screen sharing, chat, and live streaming to platforms like YouTube and Facebook. Zoom also provides robust security features and compliance with regulations such as FERPA. The platform's ability to host various event types, from small meetings to large conferences, along with advanced features for audience engagement and interaction, makes it a versatile and comprehensive solution for virtual events.

  • 2-5. Review of Top Virtual Event Software

  • A review of top virtual event software highlights various platforms that streamline the online event planning process. These include Zoom Events, which offers live and on-demand content delivery, and Hopin, known for its user-friendly interface and capacity to host large-scale virtual events. Other notable platforms are Gatherly, which replicates in-person interactions, vFairs with its immersive 3-D experiences for virtual job fairs and trade shows, and Airmeet, which focuses on engagement and networking. These platforms provide features such as customizable event layouts, interactive tools, real-time analytics, and seamless integration with third-party applications, making them suitable for a variety of virtual and hybrid events.

3. AI Technology in Business

  • 3-1. Generative AI Companies in the UK

  • The United Kingdom has emerged as a significant hub for AI innovation, with numerous companies pushing technological boundaries. Here is a detailed look at the top 10 generative AI companies in the UK: 1. Stability AI: Located in London, Stability AI was founded in 2020 by Emad Mostaque. The company, which democratizes AI across various domains, reported a revenue of US$33.3 million and employs approximately 221 people. Key products include Stable Diffusion 3 (SD3), SDXL Turbo, and Stable Video 3D. 2. Genei AI: Founded in 2019 by Jack Bowen, Thomas Foster, and Adrien Wald, this London-based company specializes in AI tools for article summarization and research analysis. With a revenue of US$1.6 million and about 19 employees, their key products include Summarization and Keyword Extraction. 3. Syntonym: Established in 2019 by Batuhan Özcan and Emre Cavunt, Syntonym offers AI-enabled tools ensuring data privacy through anonymization. Located in London, their key products include the Syntonym Virtual Camera. 4. Synthesia: Founded in 2017, Synthesia is known for democratizing video content creation using AI-generated actors and voices. The company, which reported a revenue of US$62.8 million, is based in London and employs around 353 people. 5. Mindtech Global: Established in 2017, this London-based company develops behavioral simulation tools for AI-powered computer vision systems. Founders Steven Harris and Peter McGuinness lead the company, which has a revenue of US$5.2 million and employs 46 people. Key products include the Chameleon Platform. 6. Gradient Insight Ltd: Founded in 2021, this Hampshire-based company provides solutions in computer vision and generative AI. Founders Iu Ayala Portella and Sara Isabel Lopes Martins focus on scalable outcomes with their AI consulting firm. 7. Pixelette Technologies: Since 2018, this London-based company, founded by Asif Ashiq and Rana Khan, integrates technologies like AI and blockchain. With a revenue of US$9.9 million and around 40 employees, they offer services in AI and web development. 8. Avkalan.ai: This innovative startup, founded in 2023 by Ashok Suthar in London, aims to enhance business processes through advanced AI. The company employs about 35 people. 9. Novo AI: Founded in 2022 by Srirama A. Hemanth Mandapati and Nanda Kumar Pandalai, Novo AI specializes in web3 platform development. Based in London, it focuses on community engagement tools with a revenue of US$72.5K. 10. Bluebash: Established in 2018 and located in London, Bluebash focuses on creating impactful products using AI and cloud infrastructure. Founders Anuj Kumar and Vishal Garg lead the company, which has a revenue of US$13.5 million and approximately 93 employees.

  • 3-2. Role of AI in Enhancing Marketing and Security

  • Generative AI has significantly influenced the marketing landscape. According to a survey by IBM, 35% of respondents identified Generative AI as one of the most promising technologies impacting business operations, including marketing. Capgemini’s report indicates that 54% of executives view Generative AI as a driving force in sales, and 48% in marketing and communications. The adoption rate of Generative AI in marketing is high. Statista's 2023 research shows that 73% of U.S. marketers reported their companies used Generative AI tools such as chatbots in their professional responsibilities. An IBM survey in May 2023 found that 67% of Chief Marketing Officers (CMOs) plan to adopt generative AI within the next year, with 86% planning implementation within the next 24 months. Businesses that invest in AI report a revenue increase of 3% to 15% and an improvement in sales ROI of 10% to 20%. Examples include Instacart’s use of ChatGPT to enhance its grocery delivery app, providing customized shopping lists and answering various food-related queries. In terms of security, companies like Syntonym and Gradient Insight Ltd. are providing advanced solutions to protect identities and comply with data privacy laws, enhancing business security strategies by anonymizing data and ensuring compliance with stringent privacy standards.

  • 3-3. Comparison of Leading AI Models

  • The primary competitors in the generative AI industry are ChatGPT by OpenAI, Gemini by Google DeepMind, and Claude by Anthropic. Each model exhibits distinct characteristics tailored to different applications and user needs. ChatGPT is praised for its conversational abilities and versatility, Gemini excels in multitasking and complex problem-solving, and Claude focuses heavily on ethical AI usage and specialized applications. Strengths and weaknesses of each model are as follows: ChatGPT strengths include versatile conversational abilities and extensive customization options, while weaknesses encompass occasional inaccuracies and potential bias. Gemini's strengths lie in its robust performance and integration capabilities with the Google ecosystem, with weaknesses including complexity in implementation and higher operational costs. Claude emphasizes ethical AI with advanced safety protocols, but has performance variability depending on applications. Use cases highlight ChatGPT's utilization for casual conversations and content creation, Gemini's application in research and healthcare, and Claude's deployment in healthcare and finance sectors.

  • 3-4. AI Assistants for Design and Business Applications

  • AI instructional design assistants have advanced significantly thanks to rapid progress in Artificial Intelligence. These tools, including chatbots, voice assistants, AI avatars, and domain-specific virtual assistants, offer powerful features that make creating engaging and effective learning materials easier. Technologies such as speech-to-text, computer vision, and deep learning are being utilized to enhance the functionality of these AI assistants. For example, Hyperspace, an AI-powered learning platform, uses VR and AR to create 3D environments, offering personalized learning paths and real-time feedback. Other notable AI design assistants include platforms like Kore.ai for creating virtual assistants, which feature advanced capabilities such as intent recognition and voice interfaces, making them invaluable in improving business operations and customer engagement.

4. Integration of AR and VR Technologies

  • 4-1. AR and VR in Enhancing Business Operations

  • Virtual Reality (VR) and Augmented Reality (AR) continue to be driving forces behind innovation and growth for businesses. These technologies revolutionize how businesses operate, connect with their customers, and achieve their goals. Various industries like healthcare, traveling, and hospitality benefit from these game-changing applications. Successful implementations by renowned companies have helped enhance customer experiences and streamline operational processes.

  • 4-2. Impact on Healthcare and Retail

  • In healthcare, AR and VR help surgeons practice procedures in virtual environments and provide patients with virtual consultations, reducing the need for physical visits. In retail, AR and VR transform shopping by allowing customers to try on products virtually and place furniture items in their rooms using an app. IKEA's AR app, IKEA Place, and Nike's AR-powered Nike Fit feature are notable examples of how these technologies enhance the shopping experience.

  • 4-3. Successful Implementations by Major Companies

  • Several major companies have successfully implemented AR and VR technologies to enhance their operations. IKEA uses AR in their IKEA Place app to allow customers to virtually place furniture using their smartphones. Nike's Nike Fit app leverages AR to help customers find the perfect shoe size. Gucci has incorporated an AR sneaker try-on feature, and Amazon uses AR View for product visualization. Sephora's AR-powered virtual try-on features also demonstrate the significant role AR and VR play in improving customer engagement.

5. Industry-Specific Applications of Virtual and AI Technologies

  • 5-1. Security Enhancements with SentinelOne

  • The Solutions Review's Solution Spotlight on July 15, 2024, featured SentinelOne, a leader in endpoint security and extended detection and response (XDR) solutions. The event included a discussion led by Joseph Salazar, a Technical Marketing Engineer, focusing on best practices for securing Microsoft Active Directory. SentinelOne, founded in Mountain View, California in 2012, integrates prevention, detection, and remediation capabilities for behavior-based anti-malware and anti-exploit solutions. Their services are deployed in real-time either on-premises or via the cloud. Key capabilities include real-time forensics, investigative capabilities, and multiple behavior detection methods to predict malicious behavior and close vulnerability gaps. SentinelOne serves notable clients such as Hitachi, Lyft, and Samsung and has been the official cybersecurity sponsor of the Aston Martin Cognizant F1 Team since 2021.

  • 5-2. Immigrant and Refugee Settlement Support via Digital Technologies

  • Digital technologies are playing an increasingly important role in supporting the settlement and integration of immigrants and refugees in Canada. Various webinars and roundups, such as those organized by ARAISA, Société Nationale de l'Acadie (SNA), and AMSSA, focus on the importance of cybersecurity, data protection, and privacy for immigrant-serving organizations. These webinars emphasize the legal responsibilities and privacy principles that organizations must follow, highlighting case studies and best practices in data security. Additionally, workshops by the Toronto South Local Immigration Partnership (TSLIP) and the Future Skills Centre (FSC) delve into AI literacy and skills development for service providers to better assist newcomers. The tools and techniques discussed ensure secure and efficient service delivery, thereby enhancing long-term health outcomes and successful integration for immigrants and refugees.

  • 5-3. Upcoming Tech Conferences and Focus Areas

  • The '21st Century AI Hollywood' conference, scheduled from July 22 to July 24, 2024, will explore the intersection of AI and the entertainment industry. With tracks focusing on AI in Hollywood production, advertising, virtual production, and more, the event brings together industry leaders like Phil Wiser (Paramount Global), Samira Panah Bakhtiar (Amazon Web Services), and Eliot Sakhartov (Microsoft) to discuss AI's transformative potential. Notable roundtables will cover the impact of generative AI on creative processes, safety and ethics in AI, and the evolving landscape of entertainment driven by AI innovations.

6. Conclusion

  • In conclusion, the adoption of virtual event platforms like Zoom and Airmeet, alongside AI technologies from companies such as SentinelOne, marks a pivotal shift in enhancing engagement, security, and operational efficiency across industries. These innovations in virtual and AI domains are reshaping traditional business models by providing customizable, interactive, and efficient solutions. However, the ongoing assessment of their impacts and meticulous implementation is vital to fully harness their potential and overcome any associated challenges. As these technologies evolve, they promise to continue transforming industries, pushing the boundaries further, and offering new opportunities for growth and innovation. Additionally, the practical applications of AR and VR in sectors like healthcare and retail underscore their transformative power in improving customer experiences and operational processes. Future developments in these fields are expected to bring even more significant advancements, cementing the role of these technologies in shaping the business landscape of tomorrow.

7. Glossary

  • 7-1. GoBrunch [Platform]

  • A versatile webinar platform that offers realistic and engaging virtual meetings with advanced admin controls, interactive features, and customization options.

  • 7-2. Remo [Platform]

  • An event platform that facilitates immersive virtual events with customizable registration, private audio-video chats, and networking opportunities.

  • 7-3. Airmeet [Platform]

  • A virtual events platform designed to recreate physical event networking and engagement, offering features like virtual tables and interactive stages.

  • 7-4. Zoom [Platform]

  • A comprehensive video communication platform known for its reliability and versatility in hosting virtual meetings, webinars, and events.

  • 7-5. SentinelOne [Technology Company]

  • A cybersecurity company focusing on behavior-based anti-malware and XDR capabilities, known for its solutions in securing Microsoft Active Directory.

8. Source Documents