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Omdia reveals virtual assistants as leading AI use case driving software revenue in financial services

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LONDON, May 28, 2024 /PRNewswire/ — The proliferation of artificial intelligence (AI) has afforded banks a multitude of benefits through its automation capabilities, such as efficiency gains, cost savings, and a boost for product innovation and development. According to new research from Omdia, the foremost AI use case in terms of software revenue is virtual assistants, which are projected to generate more than $2.7bn for IT vendors by 2028.

The new research from Omdia’s AI in Financial Services (FS) report finds that virtual assistants are the most prevalent use case, primarily utilized for internal purposes. However, this trend is expected to shift as nearly half of retail banks state that their top front-office priority is providing a more consistent and sophisticated interaction with their contact centers. “Although many banks are striving to be pioneers in launching generative AI (GenAI)-based virtual assistants as a tool for attracting new customers, there is a danger that it could alienate existing customers if not executed effectively,” said Philip Benton, Omdia’s Principal Analyst for Financial Services.

Fraud detection and mitigation stand out as another top use case for AI in FS, especially as fraudsters increasingly leverage AI to exploit weaknesses within internal banking fraud controls. However, banks are also adopting AI to combat fraud. Omdia expects that fraud management will remain a central use case for predictive AI, rather than GenAI. Omdia forecasts that AI software revenue for fraud detection and mitigation will reach $1.1bn by 2028, with a CAGR of 16% from 2023 to 2028.

Wealth management firms are also implementing generative AI to enhance client service and efficiency. This technology will assist wealth managers in streamlining internal searches and developing relevant research for specific client requirements. Andrew Brosnan, Omdia’s Principal Analyst for AI in Healthcare and Financial Services noted, “Financial institutions are now deploying AI internally to aid investment research, market analysis, and portfolio construction and rebalancing.”

The report is available now in Omdia’s Financial Services Spotlight Service and Artificial Intelligence Viewpoint Service and, as well as the applications in financial services, covers the ecosystem, regulatory developments and market outlook for predictive and generative AI.

ABOUT OMDIA
Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets and actionable insights empower organizations to make smart growth decisions. To learn more, visit www.omdia.com.

Media Contact
Fasiha Khanfasiha.khan@omdia.com

 

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State Grid Jinchang Power Supply Company Ensures Power Supply for May Day Tourism

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JINCHANG, China, April 29, 2026 /PRNewswire/ — As the May Day International Labor Day approaches, State Grid Jinchang Power Supply Company has fully launched special power supply guarantee work in key cultural and tourism areas, closely integrating local characteristics such as Gobi ecology, Silk Road culture and suburban comprehensive cultural tourism formats, to fully protect the safety of cultural and tourism travel during the holiday.

Focusing on the actual needs of pre-holiday cultural and tourism travel, the special inspection takes into account the differences in power consumption of diverse scenarios including Silk Road sightseeing, Gobi leisure and research experience, and strictly implements standardized power operation and maintenance processes. The service team divides areas to clarify responsibilities, focusing on inspecting key locations such as crowded scenic spots, convenient service stations and intangible cultural heritage performance venues, and checks the operation of core equipment such as power distribution boxes, low-voltage lines and emergency backup power supplies one by one. Considering Jinchang’s regional climate characteristics of frequent sandstorms and large temperature differences between day and night, it focuses on verifying the integrity of outdoor line insulation protection and wind, dust and lightning protection devices, and simultaneously investigates potential hazards such as old lines and temporary power use, ensuring immediate rectification and full coverage without blind spots.

In response to the upsurge of suburban self-driving camping and short-distance trips during the holiday, the company focuses on upgrading and verifying public new energy charging piles along scenic routes and suburban main roads. Staff inspect each charging pile’s main module, intelligent metering terminal, safe grounding circuit and outdoor waterproof and dustproof components, conduct on-site practical tests on core charging performance such as emergency power-off self-locking and peak-valley load adaptation, and simultaneously clean up debris around the piles, maintain lines and check peripheral hazards such as aging and loose interfaces. It also specially verifies the continuous operation capacity under high passenger flow and high intensity, ensuring uninterrupted 24-hour charging services, solidifying the reliable power guarantee for cultural and tourism travel, and helping the upgrading of suburban cultural and tourism formats.

View original content:https://www.prnewswire.com/apac/news-releases/state-grid-jinchang-power-supply-company-ensures-power-supply-for-may-day-tourism-302756694.html

SOURCE State Grid Jinchang Power Supply Company

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Power Guarantee Accelerates Commissioning of Jinchang’s 200,000-Ton Dairy Processing Project

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JINCHANG, China, April 29, 2026 /PRNewswire/ — On April 22, State Grid Jinchang Power Supply Company worked with relevant personnel of the 200,000-ton annual dairy processing project in Jinchuan District, Jinchang City, to carefully verify key power support matters before the project is put into operation.

Since the planning of the project, State Grid Jinchang Power Supply Company has taken the initiative to provide front-line services and launched a dedicated service program for key projects. A special service team was established to finish on-site investigation within three days and design a tailor-made power supply plan.

The company opened a green channel for power application and installation services, shortening the conventional 45-day service process to 18 days, strongly boosting the early start of the project.

In the construction period, the company’s Party member service team offered regular on-site technical guidance, investigated and rectified over ten hidden dangers in construction power consumption, and organized special training for electricians, building a solid line of defense for power safety.

Entering the critical commissioning phase in April, the company carried out an all-round inspection of power equipment in the factory, formulated a targeted power guarantee plan for equipment commissioning, and implemented a 24-hour duty system to remove power supply obstacles for equipment debugging.

“The power supply team always thinks ahead and delivers practical support, solving all our power consumption problems,” the project leader commented positively.

In the next stage, State Grid Jinchang Power Supply Company will continue to track the follow-up power demand of the project. Through high-quality and stable power supply, it will help upgrade the quality and efficiency of Jinchang’s agriculture, forage and animal husbandry industrial chain, and inject sustained impetus into high-quality local development.

View original content:https://www.prnewswire.com/apac/news-releases/power-guarantee-accelerates-commissioning-of-jinchangs-200-000-ton-dairy-processing-project-302756716.html

SOURCE State Grid Jinchang Power Supply Company

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Seven Extreme Tests, Full‑Scenario Ecosystem: Sungrow Redefines C&I ESS Reliability at GRES

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HEFEI, China, April 29, 2026 /PRNewswire/ — At the 2026 Global Renewable Energy Summit, Sungrow unveiled its full-scenario commercial and industrial (C&I) ecosystem, centered around the newly launched PowerKeeper series—a modular C&I energy storage system that achieves 0 waste in both investment and green power utilization, ensures 0 outage for C&I electricity consumption, and delivers a hassle-free experience through 7 upgrades (7Ups) across the entire lifecycle, ultimately maximizing returns for customers.

As an industry breakthrough, PowerKeeper is the first modular C&I ESS to successfully pass seven extreme challenge tests. This milestone embodies Sungrow’s “007” value proposition—redefining reliability standards for C&I energy storage.

Seven Extreme Challenges: Making Safety Invisible, Yet Fundamental

Energy storage systems are built for a 20+ year lifecycle, during which exposure to extreme weather, physical impacts, and unexpected incidents is inevitable. True reliability lies in proactively validating performance under the harshest conditions.

PowerKeeper inherits Sungrow’s comprehensive full-lifecycle safety system. With over 700 pre‑delivery tests, every unit is engineered for durability and resilience. The seven extreme tests cover the entire lifecycle and a wide range of real-world scenarios, structured across three critical dimensions:

Environmental Resilience: Reliable Performance in Harsh Natural ConditionsMaintains stable operation after 24-hour immersion in 50 cm of waterDelivers full power without derating across temperatures from -20°C to 40°CStructural Integrity: No Fire or Explosion, Even When Knocked or DroppedEndures a 250 kg pendulum impact with only minor surface damage, no structural compromise, and no abnormal temperature riseWithstands repeated drops from heights ranging from 1.6 m to 5 m, maintaining structural integrity and thermal stabilityIntrinsic Safety: No Fire spread, No Explosion Splash, Even in Worst-Case ScenariosAn integrated aerosol fire suppression system rapidly suppresses internal ignitionAfter removing internal suppression, flames self-extinguish without spreadingSystem-level active venting design in PV+ESS configurations prevents debris projection, safeguarding both personnel and equipment

From Pre- to Post-Commissioning: Flexible, Simple, Profitable

Pre-commissioning:
PowerKeeper offers exceptional flexibility from the outset, with configurable capacities ranging from 50 kWh to 1,000 kWh and durations spanning 2 to 8 hours. It can be deployed as ESS-ready, PV+ESS, or PV-ready, enabling businesses to align system configuration with their investment pace and evolving energy strategies.At commissioning:
Installation is streamlined through both modular hardware design and intelligent digital tools. On the hardware side, the industry-first configuration of 12.5 kWh single modules or 50 kWh pre-built stacks significantly reduces installation complexity and labor costs. In contrast, seamless back-to-back installation supports four flexible layouts, making it ideal for space-constrained environments.
On the software side, iSolarDesign enables rapid and intelligent system planning within just 10 minutes—while iSolarCloud simplifies grid connection to a three-step process that can be completed in five minutes. A unified platform with a 24/7 AI assistant further enhances operational efficiency by pinpointing faulty modules at the source, enabling faster and more precise O&M.Post-commissioning:
Once operational, PowerKeeper continues to maximize value through both performance and intelligent optimization. A 2.0 DC/AC ratio delivers up to 1.5 times higher power output, while 10 ms seamless switching ensures reliable off-grid operation when needed. In addition, AI-driven multi-revenue strategies—including peak shaving, demand charge management, and frequency response—work in tandem with integrated hardware and software to continuously enhance overall returns.

Full-Scenario Eco-Synergy: Sungrow C&I ESS Family

PowerKeeper, together with the PowerStack 255/510CS and PowerTitan series, forms Sungrow’s comprehensive C&I ESS portfolio. The solution supports a wide range of applications—from standalone ESS and PV+ESS to PV+ESS+EV charging and microgrids—covering voltage levels from 400 V to 35 kV. PowerKeeper is now available across Europe, Asia-Pacific, and the Middle East and Africa.

Dr. Cao Wei, GM of Sungrow’s C&I ESS Product Line, stated: “We build a full-scenario C&I ESS ecosystem because every application deserves a tailored solution. The seven extreme tests reflect our unwavering commitment to one core belief: safety is the greatest luxury.”

Sungrow remains committed to empowering industries worldwide with reliable, high-performance C&I energy storage solutions—working together to accelerate the transition toward a sustainable future.

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 29 years. As of Dec 2025, Sungrow has installed over 1000 GW of power electronic converters worldwide. The company is recognized as the world’s most bankable PV inverter and energy storage company (BloombergNEF). Its innovations power clean energy projects across the globe, supported by a network of 520 service outlets guaranteeing excellent customer experiences. At Sungrow, we’re committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit: www.sungrowpower.com/en

 

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SOURCE Sungrow

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