Around the Wire: 4 Recent Business Technology News Trends
A look at the technology industry news from PR Newswire in September and October that you might have missed.
By Riley Bowman, Joe Murphy | Published Nov. 09, 2022
Sifting through all the Business Technology releases from PR Newswire is no easy task. In September and October, we sent over 11,000 releases from the sector across the wire.
We have identified four trends that emerged day after day on the wire when it came to tech-related news releases. Smart homes, augmented reality, artificial intelligence, and the metaverse were some of the most popular topics of the last two months.
Some of the Most-Viewed Business Technology Releases
With over 11,000 business tech releases crossing the wire over the past two months, these are the ones that received the most views during September and October:
- Ye, the artist formerly known as Kanye West, entered into an agreement to purchase the Parler social media platform. The deal is expected to close in the fourth quarter of 2022.
- Sony Electronics launched its first over-the-counter (OTC) hearing aids for the U.S. market.
- Generac introduced its new Generac Portable Power Station products.
- Neutral video platform Rumble went public after a business combination with blank check company CF Acquisition Corp. VI.
- Autodesk and Epic Games collaborated to connect physical and digital worlds with real-time immersive experiences.
Business Technology News Trends
1. Smart Homes
Smart home products, buoyed by stay-at-home orders in recent years, have continued to gain momentum. According to Statista, revenue in the smart home market is projected to reach US$31.45bn in 2022 and is expected to show an annual growth rate (CAGR 2022-2026) of 11.24%, resulting in a projected market volume of US$48.15bn by 2026.
PR Newswire issued 152 stories in the U.S. and Canada in September and October that mentioned the term “smart home.” That was an increase from 109 releases in July and August. Among the most popular products were:
- Robot vacuums: They do more than just entertain your kids and scare your pets. These little suckers continue to become more and more advanced, and the market continues to become more and more saturated.
- In late September, iRobot released its 2-in-1 Robot Vacuum and Mop, the Roomba Combo™ j7+, which “vacuums rugs and carpets first and then vacuums and mops hard floors concurrently.”
- Just a few days earlier, Dreametech released its own robot vacuum and mop, the DreameBot L10s Ultra. The company followed that up in mid-October with the release of its DreameBot L10s Pro in Europe.
- Not to be outdone, AIRROBO released its own vacuum, the AIRROBO P20, at the very end of September.
- Appliances: From refrigerators and toasters to washers and dryers, companies unveiled several high-tech home appliances within the last two months.
- LG started things off with an appearance at IFA 2022 in Berlin in early September. It used cocktails and music to celebrate its revolutionary refrigerator with color-changing LED door panels and MoodUP technology.
- In mid-October, LG also upgraded laundry day with a Smart Front Load Washer and Dryer Pair that can automatically add the recommended amount of detergent and adjust drying time.
- On Oct. 10, smart appliance brand Tineco tackled toast with the launch of TOASTY ONE – a dual-slot toaster designed with smart capabilities to deliver a perfect slice of toast with every use.
- Home Security: Whether it’s monitoring activity outside or inside the home, companies are stepping up their security game.
- In late September, eufy Security, Anker Innovations' smart security brand, launched its new Edge Security System, the world's smartest, most accurate, and most connected home security solution.
- In late October, pediatric health monitoring company Miku announced that the Miku Pro Smart Baby Monitor was named a winner in Good Housekeeping's 2022 Parenting Awards in the State-of-the-Art Tracker category.
2. Augmented Reality
Another tech trend on the rise is the use of augmented reality (AR). PR Newswire issued 168 releases with the term “augmented reality” in September and October, up from 117 in July and August. Among those releases, there appears to be some momentum for the integration of AR and retail/shopping.
Back in February, Entrepreneur predicted that “AR live stream shopping will take off” this year. MobiDev affirmed this in late September, pointing to the pandemic as one of the major catalysts for this trend. As we enter November and the holiday shopping season takes center stage, it would behoove retailers to take some strides in this area.
According to Forbes, “the omnichannel shopper has never been more powerful: They make purchases 70% more often and spend about 34% more than those who only shop in-store.”
So, what could this look like for stores? Companies such as Lowe’s, Zephyr and Neiman Marcus give us some hints.
- Digital twins: On Sept. 20, Lowe's unveiled the home improvement retail industry's first interactive store digital twin at NVIDIA GTC. The digital twin is a “completely virtual replica of a physical home improvement store, created in NVIDIA's Omniverse environment.” One potential benefit, according to the release, is “Store Visualization and Optimization.”
- Virtual shopping:
- Zephyr recently unveiled updates to its Zephyr Kitchen Experience (ZKE) app. “The interactive Augmented Reality (AR) tool lets consumers explore and interact with various range hoods and now includes Presrv™ Wine & Beverage Coolers.”
- Neiman Marcus launched its Holiday 2022 campaign, Make the Moment, on Oct. 26. The anchor element of the campaign is the Christmas Book, “Neiman Marcus' annual tome dedicated to seasonal shopping and festive finery.” This year, the Christmas Book features an augmented reality (AR) experience activated by a QR code on the cover, which empowers customers to become their own creators.
- Pacsun is also engaging in a virtual holiday season. On Nov. 1, Pacsun released its 2022 seasonal campaign coined PacVerse and campaign video "Welcome to the PacVerse," featuring a real-life cast entering a metaverse created by Pacsun that juxtaposes virtual and physical worlds.
3. Artificial Intelligence
Artificial intelligence (AI) technology was a hot topic on the wire, especially for the consumer, B2B, and healthcare industries. Companies are using AI to make lives easier for workers, customers, and doctors. It is soon to be a major part of everyone's life if it isn’t already.
Chipotle, for example, is using AI in new ways to assist its customers and back-of-house staff. AI and machine learning are used to measure ingredient levels to notify cooks how much to prep and when to start cooking. This advancement enables staff to keep ingredients fresh while minimizing waste. The same tech is being used to provide in-app messages to customers about food preparedness as they wait, and incorrect pick-up location messaging.
In the healthcare space, RSIP Vision is using AI to assist in surgical planning and navigation for knee bones and Urological operations. Using AI and Machine learning, RSIP takes 2D images and turns them into 3D models. So far, the technology has been used for mapping the ureter and the knee. Surgeons then use the models as maps to increase precision in surgical procedures.
Artificial intelligence dominated the wire in September and October with 507 releases hitting the wire in the U.S. and Canada, up from the previous period. Between July and August, PR Newswire distributed 410 releases mentioning AI.
Here are a few more examples from September and October:
- Vonage Launches AI Studio
- Haleon and Microsoft use AI to enhance health product accessibility for people who are blind or partially sighted
- AI and Cities: UN-Habitat and Mila launch a collaborative White Paper on the use and potential challenges of AI to support the development of people-centered sustainable cities and settlements
- Illumina Launches Strategic Research Collaboration with AstraZeneca to Accelerate Drug Target Discovery
4. The Metaverse
The metaverse continues to grow and the last two months saw many brands and celebrities entering the metaverse to offer unique experiences to their fans and customers. McCain Foods, Philips Norelco, Hasbro’s My Little Pony, and Lavazza used Roblox for their metaverse experiences. Each of these companies created its own 3D world for its customers to venture into, offering games and cosmetic items for players’ avatars.
One of the main operators in the metaverse of course is Meta (formerly Facebook, Inc.), which announced its third quarter 2022 results on Oct. 26, 2022. Meta’s earnings release was viewed more than 6,000 times, one of the highest view counts for the period. Despite the growing industry, Meta’s metaverse division, Reality Labs, lost $3.67 billion, and the company expects “operating losses in 2023 will grow significantly year-over-year.” The primary reason for the high costs is the launch of the “consumer Quest headset later next year.”
Throughout September and October, PR Newswire distributed 264 releases mentioning the metaverse. That’s an increase from the previous period, which saw 209 releases sent out between July and August. October 19 was the busiest day with 14 releases, including this one from Frito-Lay North America.
Here are a few more examples from September and October:
- Deepak Chopra & Seva.Love Announce "ChopraVerse: House of Enlightenment," the Metaverse for Wellbeing in Collaboration with Utopia
- TCL Takes Important Steps in the Metaverse
- Hillshire Farm® Brand Launches its Iconic Red Barn In the Metaverse, Bringing Farm-Themed Quests to Decentraland Visitors
- Black Station: PUMA Reveals First-Ever Metaverse Experience With Exclusive NFTs at New York Fashion Week
It’s an exciting time for tech. Whether it’s smart homes, AR, AI, or the metaverse, the tech industry is rapidly evolving. Companies are continuing to find new ways to stay relevant with their audience — whether that audience wants to stay home or (virtually) leave.
About the Authors
Riley Bowman is a Customer Content Specialist and Business Technology Industry Ambassador at Cision PR Newswire as well as the manager of the @PRNSports Twitter account.
Joe Murphy is a Senior Customer Content Specialist with PR Newswire. He serves as one of Cision’s Business Technology Industry Ambassadors and he also curates the @PRNtertainment Twitter handle. In his free time, he enjoys watching Cleveland sports and spending time with his wife and two kids.