Latest news with #Byte
The National
21-05-2025
- Business
- The National
Abu Dhabi cyberdog could support elderly in social care
Displayed at Gitex Europe in Berlin, 'Byte' is promoted as a low-maintenance alternative to man's best friend
The National
21-05-2025
- The National
Gitex Europe: Could cyberdog developed in Abu Dhabi help support elderly social care?
Robotic dogs have become a familiar sight at tech exhibitions around the world, but the latest cyberdog on show at Gitex Europe in Berlin has been designed specifically to address the growing demands of social care. The exhibition held each year in Dubai opened its European version on Wednesday, uniting venture capitalists with technology start-ups. As populations age, elderly care is one of the greatest challenges facing society. The Abu Dhabi-based developers of 'Byte' claim the robotic dog can offer companionship and emotional support while used as a home assistant. And without the need for daily walks, trips to the vet or the constant attention demands of most canine companions, Byte could offer a low-maintenance alternative to man's best friend. 'We want to position this as a cyber pet for elderly people or as a guide dog for the blind,' said Charles Goh, global alliance director at InspireTech, a company in Yas Island developing software to a make the Chinese-made robotic dog more interactive with humans. 'It will use ChatGPT to sing songs, tell jokes and engage with its owner. Importantly, it is a companion that can offer a low-maintenance solution to help resolve the issue of isolation. This robot is in the shape of a dog, but eventually it may be able to take different forms of a cat or a bird, for example.' The company is developing software that will allow the dog to understand commands in several languages. It is programmed to notify emergency services if it receives no response from its owner during regular check-ins in case of a fall at home, and can offer medication reminders. A camera fitted inside the dog's head can be viewed through the owner's mobile device, while its body is packed with sensors allowing safe integration with its surroundings. Health-monitoring software is under development to allow the cyberdog to monitor its owner's biometrics and call medical assistance in the event of a heart attack or stroke. Byte takes an hour to fully charge and is expected to cost about $5,000 once on sale, which developers expect by 2030. 'Real dogs are amazing but there is an emotional attachment humans have that can be difficult to break, as most owners will outlive their pets,' said Mr Goh, in Berlin to build new financial partnerships with European investors. 'There is no separation anxiety with a cyberdog and the fundamental difference is you will never have to say goodbye to him.' The cyberdog, one of a number of projects under development at InspireTech, comes with data protection and cybersecurity. Across three days, Gitex Europe is focusing on these core areas, as well as green technology, to decarbonise economies, smart cities and regulation of artificial intelligence. Investors said there was plenty of potential to build new partnerships between the UAE and Europe. 'We have a lot of start-ups and founders from Dubai who want to expand into Europe so we want to make sure we connect them with the right ecosystem enablers and the right partners,' said Julien Plouzeau, senior partner at Oraseya Capital, the venture capital fund of Dubai Integrated Economic Zones Authority. 'It is also important for us to be educated about new opportunities we can bring to our founders and help them set up in Europe. Most of the expansion plans we see from the Middle East at some point will include Europe.' The Dubai Economic Agenda D33 is a comprehensive plan to double the size of the emirate's economy within the next decade. As a road map to sustainable growth, the drive aims to hit that goal before 2033, with a focus on diversifying the economy and attracting new investment. Mr Plouzeau said technology around finance and property have been the most active industries in regards to investment capital over the past two years. 'There's no reason to think that's going to stop in the future,' he said. 'We are also looking at logistics, supply chain, and pretty much all the industries and verticals aligned to Agenda D33. 'We are actively deploying $136 billion at the moment and looking at $500,000 to $3 million per investment. Of course, there is a long process for us to conduct our due diligence, but we've seen start-ups very much here coming to Berlin, so it's quite exciting.' Dubai Silicon Oasis has been a key location in the UAE to test the latest technology, before expanding services elsewhere. From automated roadside delivery robots, to driverless taxis, AI-powered pedestrian crossings and drones transporting vital medical supplies, the area has played a crucial role in technology testing. 'It is a great moment to see something made in the UAE, such as Gitex here in Europe, and we really want to consolidate that,' said Dr Juma Al Matrooshi, director general of Dubai Silicon Oasis. 'We want to not only import technology but also export the transfer of technology as there is an ease of doing business in the UAE. 'We are really interested in technology but investment does not come easily. The UAE was the first country to appoint a minister of AI and rather than red tape for business, we roll out the red carpet.'
Associated Press
20-05-2025
- Business
- Associated Press
Argyle launches new integration, bringing real-time income and employment verification to Byte LOS customers
- New integration accelerates loan processing, enhances loan quality and embeds verification in the loan origination workflow - NEW YORK CITY, N.Y., May 20, 2025 (SEND2PRESS NEWSWIRE) — Argyle, a platform providing automated income and employment verifications for some of the largest lenders in the United States, today announced a new integration with Byte Software 's loan origination system (LOS). The integration enables lenders to access Argyle's real-time verification of income and employment (VOIE) services directly within the Byte platform, ensuring verification happens when and where it's needed to improve loan quality and keep loans moving forward. Argyle verifies income and employment through secure connections with the borrower's employer or payroll provider. With real-time access to payroll data, Byte users can generate verification reports that reflect the most current income and employment data available throughout the loan process. 'Our integration with Byte gives lenders access to GSE-approved, consumer-permissioned income and employment data and documents at a significantly lower price point than legacy solutions,' said John Hardesty, vice president of Argyle's mortgage division. 'Income and employment verifications in the Byte loan origination system gives lenders an edge in a competitive market, ensuring loans move forward efficiently with accurate, up-to-date income and employment data.' Mark Todd, Byte's EVP of sales and client services, shared similar sentiments: 'We are thrilled to partner with Argyle to bring real-time income and employment verification to our platform. This integration aligns with our commitment to providing our clients with innovative technology solutions that enhance the borrower experience and streamline the loan origination process.' For more information about Argyle's LOS integrations, visit About Argyle: Argyle is the leading provider of direct-source, consumer-permissioned income and employment verifications, making it fast and easy to gain secure and reliable access to the most complete real-time datasets stored in consumers' payroll accounts. With Argyle, lenders automate verification workflows to save time, reduce fraud and compliance risks, lower costs, and build better product experiences. As an authorized report supplier for Fannie Mae's Desktop Underwriter® validation service and an approved service provider supporting Freddie Mac's Loan Product Advisor® asset and income modeler (AIM), Argyle empowers mortgage lenders to auto-retrieve paystubs and W-2s, understand consumers' ability to pay and improve loan quality – all at 80% less cost. Argyle's commitment to innovation is backed by investors including Bain Capital Ventures, SignalFire, Checkr and Rockefeller Asset Management. For more information on Argyle's industry-leading VOIE platform, visit Tags: @withArgyle #mortgage #lending NEWS SOURCE: Argyle ### MEDIA ONLY CONTACT: (not for publication online or in print) Leslie W. Colley Depth for Argyle [email protected] (678) 622-6229 - and - Robert Palmer Byte Software [email protected] REQUEST A DEMO: ### Keywords: Finance, ARGYLE automated income and employment verifications, Byte Software, fintech, VOIE, loan origination system, NEW YORK CITY, N.Y. This press release was issued on behalf of the news source (Argyle) who is solely responsibile for its accuracy, by Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P126291 APNF0325A To view the original version, visit: © 2025 Send2Press® Newswire, a press release distribution service, Calif., USA. RIGHTS GRANTED FOR REPRODUCTION IN WHOLE OR IN PART BY ANY LEGITIMATE MEDIA OUTLET - SUCH AS NEWSPAPER, BROADCAST OR TRADE PERIODICAL. MAY NOT BE USED ON ANY NON-MEDIA WEBSITE PROMOTING PR OR MARKETING SERVICES OR CONTENT DEVELOPMENT. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.
Yahoo
01-05-2025
- Business
- Yahoo
Wal - Mart de Mexico SAB de CV (WMMVF) Q1 2025 Earnings Call Highlights: Strong Revenue Growth ...
Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Wal - Mart de Mexico SAB de CV (WMMVF) reported a 6.5% increase in consolidated total revenue, driven by growth in both Mexico and Central America. The company opened 20 new stores in the first quarter, contributing 1.6% to total sales growth. E-commerce business grew by 17%, with a significant 26% growth from on-demand services. New businesses like Walmart Connect and Byte showed strong performance, with Walmart Connect growing revenue by 25% and Byte reaching 19.8 million active users. The company maintained a strong focus on price leadership and affordability, which helped improve customer satisfaction and trust. Same-store sales growth was modest at 1.4%, with a decline in transactions by 3.2%. The company faced macroeconomic challenges, including political noise and uncertainties, impacting overall performance. Gross margin expansion was limited, with only a 10 basis point increase in Mexico. SGNA expenses grew by 12%, driven by investments in new stores, technology, and labor costs. Inventory levels increased by 15%, indicating potential inefficiencies in inventory management. Warning! GuruFocus has detected 6 Warning Signs with AEIS. Q: Can you elaborate on the impact of macroeconomic conditions on your Q1 2025 performance? A: Ignacio Carri, CEO, explained that Q1 was challenging due to macro conditions, a strong comparative base, and calendar effects like the leap year and Easter shifting to Q2. Despite these challenges, the company saw progress, with a 1.4% same-store sales growth and a focus on maintaining low prices to help customers save money. Q: How did e-commerce perform during the quarter, and what are your future plans for this segment? A: Raul Quintana, Chief Omnichannel Operating Officer, reported a 17% growth in e-commerce, driven by a 26% increase in on-demand services. The company plans to enhance its marketplace and implement a "one hallway" initiative to improve customer experience by year-end. Q: What were the key drivers behind the growth in new businesses? A: Ignacio Carri highlighted that new businesses like Byte and Walmart Connect are enhancing the core business. Byte reached 19.8 million active users, generating 2.3 billion pesos in revenue, while Walmart Connect's revenue grew by 25%. Q: How is the company addressing the slowdown in certain product categories? A: Raul Quintana noted an industry-wide slowdown in categories like video games and TVs. The company is focusing on improving delivery KPIs and expanding its marketplace to counteract these challenges. Q: Can you provide more details on the financial performance and outlook for 2025? A: Paulo Garcia, CFO, stated that total revenues grew by 2.8% in Mexico, with a gross margin expansion of 10 basis points. The company expects a gradual ramp-up in revenues and maintains a sales growth guidance of 6-7% for the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
01-05-2025
- Business
- Yahoo
Wal - Mart de Mexico SAB de CV (WMMVF) Q1 2025 Earnings Call Highlights: Strong Revenue Growth ...
Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Wal - Mart de Mexico SAB de CV (WMMVF) reported a 6.5% increase in consolidated total revenue, driven by growth in both Mexico and Central America. The company opened 20 new stores in the first quarter, contributing 1.6% to total sales growth. E-commerce business grew by 17%, with a significant 26% growth from on-demand services. New businesses like Walmart Connect and Byte showed strong performance, with Walmart Connect growing revenue by 25% and Byte reaching 19.8 million active users. The company maintained a strong focus on price leadership and affordability, which helped improve customer satisfaction and trust. Same-store sales growth was modest at 1.4%, with a decline in transactions by 3.2%. The company faced macroeconomic challenges, including political noise and uncertainties, impacting overall performance. Gross margin expansion was limited, with only a 10 basis point increase in Mexico. SGNA expenses grew by 12%, driven by investments in new stores, technology, and labor costs. Inventory levels increased by 15%, indicating potential inefficiencies in inventory management. Warning! GuruFocus has detected 6 Warning Signs with AEIS. Q: Can you elaborate on the impact of macroeconomic conditions on your Q1 2025 performance? A: Ignacio Carri, CEO, explained that Q1 was challenging due to macro conditions, a strong comparative base, and calendar effects like the leap year and Easter shifting to Q2. Despite these challenges, the company saw progress, with a 1.4% same-store sales growth and a focus on maintaining low prices to help customers save money. Q: How did e-commerce perform during the quarter, and what are your future plans for this segment? A: Raul Quintana, Chief Omnichannel Operating Officer, reported a 17% growth in e-commerce, driven by a 26% increase in on-demand services. The company plans to enhance its marketplace and implement a "one hallway" initiative to improve customer experience by year-end. Q: What were the key drivers behind the growth in new businesses? A: Ignacio Carri highlighted that new businesses like Byte and Walmart Connect are enhancing the core business. Byte reached 19.8 million active users, generating 2.3 billion pesos in revenue, while Walmart Connect's revenue grew by 25%. Q: How is the company addressing the slowdown in certain product categories? A: Raul Quintana noted an industry-wide slowdown in categories like video games and TVs. The company is focusing on improving delivery KPIs and expanding its marketplace to counteract these challenges. Q: Can you provide more details on the financial performance and outlook for 2025? A: Paulo Garcia, CFO, stated that total revenues grew by 2.8% in Mexico, with a gross margin expansion of 10 basis points. The company expects a gradual ramp-up in revenues and maintains a sales growth guidance of 6-7% for the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
