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Floodbase’s Flood Mapping Accuracy Outperforms National Oceanic and Atmospheric Administration (NOAA)

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Peer-reviewed study shows AI-based flood monitoring technology to be 11% more accurate than current methods, demonstrating the potential of combining machine learning with hydrological modeling to enhance flood observation and response

BROOKLYN, N.Y., Sept. 4, 2024 /PRNewswire/ — A study published today in Geophysical Research Letters demonstrates an 11% improvement in Floodbase’s flood mapping accuracy as compared to leading methods, enabling more precise flood monitoring and reduced prices for parametric flood insurance.

Scientists and engineers from Floodbase, a leading flood intelligence and data provider for disaster managers and re/insurers, developed an AI technique that fuses satellite observations with data from the U.S. National Water Model (NWM). The peer-reviewed results demonstrate more accurate large-area flood maps of California’s 2023 atmospheric river than those produced by NOAA’s National Water Center.

This methodology paves the way for more robust multi-sensor fusion, which allows Floodbase to add new data sources and improve overall flood mapping accuracy.

“Flooding is the most common and costly weather-related disaster in the U.S.”, said Dr. Beth Tellman, Co-Founder and Chief Science Officer at Floodbase. “This research builds on the already incredible capabilities of the National Water Center to detect and predict flooding over large land areas, and will enable more accurate flood monitoring, more affordable flood insurance, and more efficient disaster response across the U.S.”

Tellman added, “Flooding costs the Federal government between $180 and $496 billion each year. This rapid inundation mapping technology will enable the most vulnerable communities and sectors to better understand and mitigate their flood risks.”

In the peer-reviewed academic journal Geophysical Research Letters, Floodbase details its use of deep learning to integrate satellite observations with outputs from the NWM to map floods in near-real time and with high resolution. This deep learning model operates at a continental scale, covering large areas like the contiguous United States (CONUS) on an hourly basis over 45 years. These characteristics, combined with improvements in accuracy, profoundly improve insurers’ ability to understand flood risk. By reducing the uncertainty of flooding in a particular location, Floodbase enables insurers to offer clients more affordable flood policies, and government agencies to make evidence-based policy decisions.

“Amid increasing billion-dollar disasters, it is critical that new and enhanced technologies be developed and deployed to predict, mitigate, and monitor flood events”, said Dr. Jonathan Frame, the study’s primary investigator who led the study at Floodbase and is now an Assistant Professor at the University of Alabama in the department of Geological Sciences. “In the era of big data, we are excited to use the latest technology to build on the work done by the National Water Center. This fusion allows us to significantly improve flood predictability, providing more accurate and timely information that will benefit policy makers, insurers, community leaders, and the nation as a whole.

About Floodbase
Floodbase is an end-to-end platform for parametric flood insurance. Built on nearly a decade of groundbreaking science, our solution continuously monitors flooding worldwide. Top re/insurers use Floodbase to cover large corporate and public sector clients against previously uninsurable economic loss from flooding. Floodbase is also used by FEMA, USAID, the UN, The New York Times and others to identify and more rapidly respond to floods.

Contact our team of experts at hello@floodbase.com to partner on parametric flood insurance solutions that help close the flood insurance gap.

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SOURCE Floodbase

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SINEXCEL and FastCharge.me Forge Partnership for EV Charging Solutions

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September 14, 2024

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ANAHEIM, Calif., Sept. 14, 2024 /PRNewswire/ — SINEXCEL, a well-established global supplier of energy storage and EV charging solutions, has signed a strategic partnership with FastCharge.me Inc. (“FCME”) at RE+ 2024. This collaboration aims to expand the deployment of innovative EV charging solutions to the growing EV market in America.

Under the agreement, SINEXCEL will supply a range of EV charging products and solutions to FCME upon request, enhancing FCME’s charging infrastructure and expanding its network across America.

“We chose to partner with SINEXCEL for their EV charging solutions because of their strong, nearly 20-year, foundation in power electronics and their deep expertise in the EV charging and Energy Storage sectors,” said Moshe Becker, CEO and Co-Founder of FCME. “We have full confidence in their robust and enduring technologies, capabilities and capacities in the global EV charging market. We are excited about the high performance and reliability of charging experiences these charging solutions will offer to our customers, and we look forward to introducing more innovative solutions through this collaboration.”

Derek Leng, General Manager of SINEXCEL North America, added, “We are thrilled to partner with FCME and all the related parties. FCME has a very in-depth market understanding and insights, strong technical capabilities and visionary foresight. This collaboration aligns perfectly with our goals and visions of bringing exceptional EV charging solutions and customer experiences to the North American EV charging market.”

This partnership marks a significant step forward in the mission to advance EV infrastructure, ensuring that SINEXCEL and FCME are at the forefront of delivering superior charging solutions that meet the evolving needs of American customers and end-users.

Since 2007, SINEXCEL has been dedicated to power electronics, Energy Storage and EV charging solutions. Expanding its reach to over 60 countries, SINEXCEL invests over 10% of its revenue into R&D, driving innovation and the development of reliable, high-quality products and solutions. As a trusted partner of global EV charging market leaders like Shell and BP, SINEXCEL is set to make a significant impact in the U.S. market through its collaboration with FCME and other business partners, paving the way for a more sustainable and greener future.

Contact:
FastCharge.me
Stephanie McGreevy, COO
stephanie@fastcharge.me

SINEXCEL 
Melody Yu, Marketing Manager
hongxia_yu@sinexcel.com 

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SOURCE SINEXCEL

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2024 China-MENA Intelligent Transportation Development and Cooperation Conference (Dubai) Will Be Held Soon

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September 14, 2024

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DUBAI, UAE, Sept. 14, 2024 /PRNewswire/ — The year 2024 marks the 40th anniversary of the establishment of diplomatic relations between China and Arab states. It is an important node for China-Arab relations to continue with the past and open up the future. In order to continuously strengthen the alignment of the development strategies of the transportation industry between China and the MENA region, and promote innovative cooperation in science, technology, finance and industries in the field of intelligent transportation, China Intelligent Transportation Association (ITS China), as the only national level social organization representing Chinas intelligent transportation industry and facing the world, will organize and hold the 2024 China-MENA Intelligent Transportation Development and Cooperation Conference (hereinafter referred to as the “Conference”) in Dubai on 18th September 2024.

With the theme of “Sharing and Matchmaking”, the Conference will set up sessions such as keynote speeches, cooperation and exchanges, matchmaking negotiations and technical product display around the three major building blocks including urban intelligent transportation construction, intelligent networked new energy vehicles, smart logistics and public travel, so as to provide participants with market development consultation and resource matchmaking services and the opportunities for in-depth exchanges and matchmaking with relevant institutions in the MENA region, and promote practical project cooperation and implementation.

The Conference has received strong support from relevant departments of China, United Arab Emirates, Oman, Saudi Arabia, Iran and other countries. More than 1,000 representatives from enterprises and institutions such as Shenzhen Urban Transport Planning Center Co., Ltd. ( SUTPC) , Sunland Technology Co. Ltd., CATARC, Zhong’anlianke Technology and Beijing ICE TECH will be invited to actively participate in the Conference.

As the only nationwide non-profit social organization specializing in intelligent transportation in China, ITS China is committed to establishing communication channels in the field of intelligent transportation at home and abroad, and promoting the exchange of technologies and industries in the field of intelligent transportation. The 2024 China-MENA Intelligent Transportation Development and Cooperation Conference will certainly build a professional platform for dialogue and cooperation among relevant institutions in the transportation industry of China and MENA. The Conference will become an annual grand event for precise matchmaking of scientific and technological innovation needs and sharing of successful experiences. We will share the scientific and technological innovation achievements of intelligent transportation with relevant institutions of the countries along Belt and Road Initiative (BRI) routes to jointly promote the rapid development of intelligent transportation and create a better future for transportation!

View original content:https://www.prnewswire.co.uk/news-releases/2024-china-mena-intelligent-transportation-development-and-cooperation-conference-dubai-will-be-held-soon-302248350.html

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Global AI Summit Calls for Global Action to Guarantee AI Innovation is for the “Good of Humanity”

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September 14, 2024

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RIYADH, Saudi Arabia, Sept. 14, 2024 /PRNewswire/ — The Global AI Summit (GAIN) in Riyadh concluded on a high, after the summit welcomed more than 30,000 delegates from across the globe over three days. The live stream of the summit, organized by the Saudi Data and AI Authority (SDAIA), received 3.7m views.

Building on the success of previous editions, GAIN 2024 featured more than 450 speakers from 100 countries, participating in 150 sessions. It also witnessed over 25 launches and announcements, and facilitated the signing of over 80 agreements and Memoranda of Understanding (MoUs).

The summit has grown exponentially since its inception in 2020. Its growing prominence reflects the Kingdom of Saudi Arabia’s role in advancing AI capabilities as it positions itself as a global leader in this space.

The key output from the summit was the need for governments and policy makers to take global action to ensure that AI technology evolves for the good of humanity. Central to responsible evolution is an ethical framework and robust governance.

To support the advancement of AI ethics and governance, SDAIA announced the Riyadh Charter of Artificial Intelligence for the Islamic World in collaboration with the Islamic World Educational, Scientific, and Cultural Organization (ICESCO). This promotes ethical AI grounded in Islamic values and principles, as well as sustainable development through international cooperation.

SDAIA has played a pivotal role in forging key collaborations to strengthen local and regional AI solutions, signing MoUs with Microsoft Arabia to develop Arabic language models, IBM for a Center of Excellence in Generative AI technologies, and NVIDIA to scale AI infrastructure across the Kingdom.

The summit also marked several major milestones. Alongside the unveiling of ALLaM, the world’s most advanced Arabic Language Model, other diverse initiatives such as the Global AI Community, the THAKAI Platform, and guidelines for addressing deepfake technology.

Furthermore, the launch of the Generative AI Center of Excellence by the Digital Cooperation Organization (DCO), the agreement to open an International Center for AI Research and Ethics (ICAIRE) as a UNESCO Category 2 Center, further underscored the impact of GAIN 2024.

The summit itself provided the platform for companies from all over the world to showcase the latest AI technologies and innovations, including AI generated avatars, AI generated artwork, and even Robotic bar staff serving beverages.

The summit closed with an inspirational speech from the Director of Saudi Arabia’s National Information Center, His Excellency Dr. Esam Alwagait, in which he thanked participants:

“Your candid perspectives have not only inspired us with the vision of what lies ahead, but have also grounded us in the realities we must face. Together, we have not only imagined the future of AI, but have also made it real by addressing the challenges and identifying the enablers needed to truly unlock its potential.”

He added:

“It has been incredibly inspiring to see the world come together here in Riyadh, united by momentum to make AI work for everyone. The commitment to collaborative action has been evident throughout the summit.” 

The success of GAIN 2024 ensures that the Kingdom’s AI infrastructure will be significantly strengthened and has cemented Saudi Arabia position at the center of global AI.

Media@GlobalAISummit.org

Photo – https://mma.prnewswire.com/media/2505796/SDAIA.jpg

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SOURCE The Saudi Data & Artificial Intelligence Authority (SDAIA)

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