Digital Transformation Could Create a Potential $3.1 Trillion Opportunity

September 07, 2023 -

With companies spending billions on digital transformation, we could be looking at a potential $3.1 trillion market by 2030, says Markets and Markets. That’s nearly double the current size of the market now. Even better, according to the analysts, “The healthcare, life sciences & pharmaceuticals vertical is expected to grow at the highest CAGR during the forecast period. Healthcare and life sciences refers to the integration and utilization of digital technologies and solutions to improve patient care, enhance operational efficiency, and drive innovation in the healthcare and life science industries.” All through the adoption of digital tools to help digitize processes, collect and analyze data, enhance collaboration, and deliver personalized care. In fact, one of the top companies to watch is VERSES Technologies, which, just announced it was contracted to amplify the digital transformation efforts of a leading national US pharmacy retailer. Other top companies to watch include Microsoft (NASDAQ: MSFT), Nvidia Corp. (NASDAQ: NVDA), Apple (NASDAQ: AAPL), and Alphabet (NASDAQ: GOOG, GOOGL).

Look at VERSES Technologies’ (CBOE: VERS) (OTCQX: VRSSF) For Example

VERSES Technologies, a cognitive computing company specializing in the next generation of artificial intelligence, just announced it has been contracted to amplify the digital transformation efforts of a leading national US pharmacy retailer. This multi-year collaboration aims to enhance the US pharmacy retailer’s operational intelligence and the efficiency of its existing and newly designed distribution centers. It is expected to progress to a nationwide rollout.

Warehouses are complex systems with many still relying on a multitude of legacy software and processes that can lead to limitations including accuracy, flexibility, congestion, and risk.

VERSES will address these challenges by mapping the US pharmacy retailer’s enterprise data into a unified knowledge model, powered by its intelligence platform, KOSM™ and its WayFinder™ services that will run simulations in order to more accurately predict and streamline decision-making around purchasing, resourcing, sequencing, routing, and inbound and outbound flow of products.

SimWell, a leading simulation technology and advanced analytics firm, will serve as the integration consultant. “Our expertise successfully delivering simulation programs, coupled with the operational intelligence VERSES technology offers, makes our team the ideal partner to help accelerate this strategic modernization at the national pharmacy retailer,” said Jon Santovy, Partner and Chief Revenue Officer at Simwell.

Gabriel René, CEO and Founder of VERSES, shared his enthusiasm for the collaboration, stating, “While we’re unable to disclose specific terms of the contract at this time, it is significantly revenue bearing, and more importantly, it serves as a powerful signal that VERSES has arrived at the point where we are a preferred technology provider for a Top 10 Fortune 100 enterprise entrusted with deploying impactful optimization solutions at scale.”

James Hendrickson, VERSES GM of Enterprise, adds, “We believe this collaboration signifies a meaningful milestone in the national pharmacy retailer’s ongoing commitment to technological advancement and operational excellence. The company’s investment in state-of-the-art systems and supply chain infrastructure not only reinforces its dedication to effectively serving customers but also demonstrates its leadership in the digital transformation of the health industry.”

Other related developments from around the markets include:

Microsoft and G42 have embarked on the next phase of their ongoing strategic collaboration and announced a multifaceted plan to make available sovereign cloud offerings, co-innovate and deliver advanced AI capabilities, and expand the existing data center infrastructure in the UAE. Microsoft's sovereign cloud offering public sector and regulated industries to use new platform capabilities for securing access to the latest cloud and AI features available on Azure public cloud and helping local privacy and regulatory requirements. G42's deep understanding of UAE sovereignty requirements and technical capabilities are central to customizing the offering to help address customer's specific needs.

Nvidia Corp. and Google Cloud announced new AI infrastructure and software for customers to build and deploy massive models for generative AI and speed data science workloads. In a fireside chat at Google Cloud Next, Google Cloud CEO Thomas Kurian and NVIDIA founder and CEO Jensen Huang discussed how the partnership is bringing end-to-end machine learning services to some of the largest AI customers in the world — including by making it easy to run AI supercomputers with Google Cloud offerings built on NVIDIA technologies. The new hardware and software integrations utilize the same NVIDIA technologies employed over the past two years by Google DeepMind and Google research teams.

Apple announced financial results for its fiscal 2023 third quarter ended July 1, 2023. The Company posted quarterly revenue of $81.8 billion, down 1 percent year over year, and quarterly earnings per diluted share of $1.26, up 5 percent year over year. "We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over 1 billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone," said Tim Cook, Apple’s CEO. "From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it."

Alphabet announced that employee experience platform Culture Amp will use Google's Vertex AI as the foundation of its generative AI solutions, following a successful pilot that could save HR professionals hundreds of hours normally spent analyzing employee feedback. Culture Amp will use Vertex AI to train, model, and fine-tune its generative AI capabilities, underpinning efforts to combine highly accurate and actionable results from employee data with full transparency into how AI derives its conclusions.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for VERSES Technologies Inc. by VERSES Technologies Inc. We own ZERO shares of VERSES Technologies Inc. Please click here for disclaimer.


Ty Hoffer
Winning Media