APRILASIA BUSINESS OUTLOOK8NEWSROOMTo strengthen its footprint in the Asia-Pacific and American markets, LG CNS has revealed an expansion of its cloud-driven AX business in partnership with Google Cloud. This strategic collaboration was confirmed at the recent "Google Cloud Next 2024" event in Las Vegas, USA, where LG CNS CEO Hyun Shin-kyun had discussions with Google Cloud CEO Thomas Kurian and Karan Bajwa, the head of Google Cloud Asia-Pacific.LG CNS intends to utilize its knowledge in cloud and AI technology in conjunction with Google Cloud's generative AI and cloud services to help enterprise clients implement AI in diverse sectors. The partnership will aim at developing numerous generative AI services relevant to areas like manufacturing, finance, distribution, telecommunications, and public sectors. By leveraging Google's AI model 'Gemini' alongside the enterprise AI platform 'Vertex AI,' LG CNS aims to spearhead the swiftly expanding healthcare and bio AX sector.LG CNS aims to leverage this growth by creating AI agents that offer insights from pharmaceutical data, genomic data analysis, and drug development services for predicting protein structures.The partnership between LG CNS and Google Cloud signifies a strategic convergence of capabilities--integrating LG CNS's industrial knowledge with Google Cloud's cutting-edge AI technologies--to foster innovation in various industries. With both firms concentrating on broadening their presence in rapidly growing regions such as Asia-Pacific, they are set to provide innovative solutions that address changing industry demands. Visa, a worldwide leader in digital payments, has teamed up with USSC Money Services Inc. (UMSI) for a strategic issuing and Money Movement partnership to introduce Visa Direct in the Philippines. This partnership signifies an important achievement in improving digital payment and remittance services in the area.Although frequently recognized as one of the top remittance-receiving nations globally, the Philippines continues to excel in the outbound money transfer sector, especially for business-to-business (B2B) transactions.Visa's report titled "Money Travels: 2024 Digital Remittances Adoption" highlights a $151-billion opportunity in the outbound market, primarily driven by business-related transactions. These encompass payments to suppliers, import/export activities, merchant transactions, and international purchasing of goods and services for numerous small and medium enterprises (SMEs).Digital techniques are also fueling the growth of cross-border payments. The report also revealed that 58 percent of Filipinos favor digital money transfer options, with numerous individuals pointing to high charges, slow processing times, and the necessity of going to a physical site as typical challenges in conducting cross-border payments and remittances.To encourage the expansion of outbound cross-border business payments in the Philippines, Visa Direct enables the direct transfer of funds to qualifying Visa Direct cards, bank accounts, and wallets across numerous regions globally.LG CNS & GOOGLE CLOUD PARTNER TO BOOST AI SERVICES IN APAC & AMERICASVISA AND USSC PARTNER TO REVOLUTIONIZE PAYMENT SOLUTIONS
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