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HOME SELLING PROFITS SLIDE AGAIN IN 2024 ACROSS U.S. DESPITE CONTINUED PRICE GAINS

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Profit Margins for Sellers Decrease for Second Straight Year;
Typical Seller Return Remains Near Record Highs, But Declines to 54 Percent;
Returns Dip Even as National Median Home Price Climbs to $350,000

IRVINE, Calif., Jan. 23, 2025 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its Year-End 2024 U.S. Home Sales Report, which shows that home sellers made a $122,500 profit on typical sales nationwide in 2024, generating a 53.8 percent return on investment.

But even as both measures remained near record levels, and home prices kept rising around the country, the profit margin on median-priced sales nationwide decreased from 56.9 percent from 2023. The drop-off marked the second straight annual decline – a pattern of consecutive downturns that hadn’t happened since the aftermath of the Great Recession in the late 2000s.

While the gross profit on median-priced single-family home and condo sales did inch up about $2,000 from 2023, the typical profit margin stood eight percentage points below a peak hit in 2022.

The downward investment-return trend continued despite the median national home price rising 5 percent to yet another annual record of $350,000. Margins fell back as the increase in home values failed to keep up with larger price spikes recent sellers had been paying when they originally bought their homes.

“After a weak 2023, the U.S. housing market mostly rebounded nicely in 2024. Prices went back up at a healthy clip and homeowners continued to make some of the best profits on sales in the past 25 years. The renewed shine, however, didn’t come without a bit of tarnish as margins took another turn for the worse,” said Rob Barber, CEO at ATTOM. “Amid the generally good news, that’s something worth following closely in 2025.”

He noted that “home prices are stretching household budgets more and more, and mortgage rates have been going back up in recent months even as other forces put more upward pressure on prices. So, there are certainly major factors that could propel the market up or settle it back down. Either will have a significant effect on seller returns.”

The price-and-profit picture, while mixed, reflected an ongoing housing market boom that has continued for 13 years in a row. Last year’s scenario emerged as buyers buoyed by rising wages, a strong investment market and mostly receding mortgage interest rates competed for a historically tight supply of homes. Nevertheless, the resulting price gains weren’t quite enough to push profits upward.

Among 127 metropolitan statistical areas with a population greater than 200,000 and sufficient sales data, sellers in more expensive markets around the U.S. generally reaped the highest returns on investment in 2024. Geographically, the Northeast, South and West regions led the way with 29 of the 30 highest ROIs. They were led by San Jose, CA (105.8 percent return on investment); Knoxville, TN (94.3 percent); Ocala, FL (87.1 percent); Seattle, WA (85.6 percent) and Scranton, PA (85 percent).

Historical U.S. Home Seller Gains

National median home price rises another 5 percent
After a weak annual gain of just 1.1 percent in 2023, the U.S. median home price increased another 4.9 percent in 2024, hitting the latest all-time high of $350,000. The typical 2024 price was almost 2 ½ times the nationwide median in 2011, a point in time right before the housing market began recovering from the Great Recession.

Amid the tight supply of properties for sale, median values went up last year in 115, or 91 percent, of the 127 metropolitan statistical areas around the U.S. reviewed for this report. Those with the biggest year-over-year increases were Evansville, IN (median up 13.4 percent); Augusta, GA (up 13.2 percent); Albany, NY (up 12.3 percent); Fort Wayne, IN (up 12.2 percent) and Scranton, PA (up 12.1 percent).

The largest median-price increases in metro areas with a population of at least 1 million in 2024 came in Hartford CT, (up 11.1 percent); New York, NY (up 9.6 percent); Rochester, NY (up 9.5 percent); Detroit, MI (up 9.5 percent) and Providence, RI (up 9.4 percent).

Typical home prices last year reached or tied records in 108 of the metros analyzed (85 percent), including New York, NY; Los Angeles, CA; Chicago, IL; Houston, TX, and Washington, DC.

Metro areas where median prices dropped most in 2024 were Birmingham, AL (down 8.3 percent); Ocala, FL (down 5.9 percent); Fort Myers, FL (down 4.3 percent); Lakeland, FL (down 2.8 percent) and Sarasota, FL (down 2.7 percent).

Profit margins decrease in three-quarters of nation, with worst declines in South
Profit margins on typical home sales went down from 2023 to 2024 in 93 of the 127 metro areas with sufficient data to analyze for investment returns (73 percent).

The 10 largest decreases in investment returns were all in the South, led by Fayetteville, AR (ROI down from 71.9 percent in 2023 to 51.3 percent in 2024); Ocala, FL (down from 105.7 percent to 87.1 percent); Sarasota, FL (down from 80.6 percent to 64.6 percent); Chattanooga, TN (down from 80.6 percent to 65.9 percent) and CrestviewFort Walton Beach, FL (down from 60.1 percent of 45.9 percent).

The largest ROI losses from 2023 to 2024 in metro areas with a population of at least 1 million were in Birmingham, AL (ROI down from 44.3 percent to 33.5 percent); Tampa, FL (down from 80 percent to 69.8 percent); San Antonio, TX (down from 34.4 percent to 26.4 percent); Austin, TX (down from 46.5 percent to 39.5 percent) and Portland, OR (down from 70 percent to 63.6 percent).

The biggest increases in investment returns from 2023 to 2024 came in Syracuse, NY (ROI up from 56 percent to 69.3 percent); Rochester, NY (up from 61.9 percent to 72.3 percent); Evansville, IN (up from 34.6 percent to 44.7 percent); Cleveland, OH (up from 51.6 percent to 61.2 percent) and Akron, OH (up from 50.3 percent to 59.2 percent).

Aside from Rochester and Cleveland, metro areas with a population of at least 1 million and the best increases in profit margins in 2024 included Hartford, CT (up from 67.6 percent to 75 percent); Buffalo, NY (up from 75.6 percent to 82.6 percent) and San Jose, CA (up from 99.9 percent to 105.8 percent).

Sellers in more than half of U.S. still reaping gross profits above $100,000, with best levels in coastal markets
Despite the decline in profit margins across much of the country, gross profits on median-priced home sales in 2024 still topped $100,000 in 79, or 62 percent, of the metro areas with sufficient data to analyze.

The east and west coasts had 18 of the top 20 gross profits last year, led by San Jose, CA ($782,750); San Francisco, CA ($500,000); San Diego, CA ($372,000); Los Angeles, CA ($366,500) and Seattle, WA ($332,000).

The 20 smallest gross profits in 2024 were in the South and Midwest, reflecting lower home prices in many parts of those regions. The lowest gross profits were in McAllen, TX ($42,212); Peoria, IL ($43,500); Baton Rouge, LA ($45,180); New Orleans, LA ($46,750) and Birmingham, AL ($50,171).

Homeownership tenure rises to high point since 2000
Homeowners in the U.S. who sold in the fourth quarter of 2024 had owned their homes an average of 8.18 years, the longest tenure since at least 2000. The latest figure was up from 8.04 years in the third quarter of last year and from 7.8 years in the fourth quarter of 2023. Average seller tenures were up, year over year, in 74, or 72 percent, of the 103 metro areas with a population of at least 200,000 and sufficient data.

The biggest increases in average seller tenure from the fourth quarter of 2023 to the fourth quarter of 2024 were in Eureka, CA (up 19 percent); Sarasota, FL (up 16 percent); Bremerton, WA (up 14 percent); Ventura, CA (up 11 percent) and Chico, CA (up 10 percent).

Average U.S. Homeownership Tenure

The longest tenures for home sellers in the fourth quarter of 2024 were in Barnstable, MA (13.6 years); Bridgeport, CT (13.23 years); New Haven, CT (13.05 years); Ventura, CA (12.85 years) and Hartford, CT (12.69 years).

Cash sales at highest level since 2013
Amid mortgage rates that still were double where they stood three years ago, all-cash purchases accounted for 38.9 percent of single-family home and condo sales in 2024, or about one of every three. The latest portion, up from 38.1 percent in 2023, represented the highest level since 2013. It was up for the fourth straight year, although still off from the 44.7 percent peak this century in 2011.

Among 153 metropolitan statistical areas with a population of at least 200,000 and sufficient cash-sales data, those where cash sales represented the largest share of all transactions in 2024 included Myrtle Beach, SC (61.3 percent); Naples, FL (61.2 percent); Macon, GA (59.7 percent of sales); Warner Robins, GA (58.2 percent) and Utica, NY (57.9 percent).

Lender-owned foreclosure purchases virtually unchanged, remaining at one of lowest levels since 2005
Foreclosure sales to lenders accounted for just 1.4 percent, or one of every 72 single-family home and condo sales in 2024. That was the second lowest level since 2005. Last year’s figure was down slightly from 1.5 percent of sales in 2023 and far below a peak of 23.6 percent in 2009.

States where lender-purchased (REO) foreclosure sales comprised the largest portion of total transactions in 2024 were Louisiana (3.6 percent of sales), Hawaii (3.4 percent), Illinois (3.3 percent), Maryland (2.8 percent) and Michigan (2.6 percent).

Among metropolitan statistical areas with a population of at least 200,000 and sufficient data, those where lender-purchased foreclosure sales represented the largest portion of all sales in 2024 were Binghamton, NY (6.1 percent); Lake Charles, LA (5 percent); Macon, GA (5 percent); Peoria, IL (4.6 percent) and Warner Robins, GA (4.6 percent).

Metro areas with the smallest shares were Raleigh, NC (0.2 percent of sales); Denver, CO (0.3 percent); Myrtle Beach, SC (0.3 percent); Tucson, AZ (0.3 percent) and Phoenix, AZ (0.4 percent).

Institutional investing down again in 2024
Home purchases by institutional investors dropped for the third year in a row, declining from 6.9 percent in 2023 to 6.3 percent in 2024, or one of every 16 single-family home and condo sales in the U.S.

Among metropolitan statistical areas with a population of at least 200,000 and sufficient institutional-investor sales data, those with the highest portions of institutional-investor transactions in 2024 were Memphis, TN (15.1 percent of sales); Huntsville, AL (12.5 percent); Birmingham, AL (12.4 percent); Fayetteville, NC (11.1 percent) and Columbus, GA (11.1 percent).

Historical U.S. Home Sales By Type

FHA sales dip slightly
Nationwide, buyers using Federal Housing Administration (FHA) loans accounted for 8.4 percent, or one of every 12 single-family home and condo purchases in 2024. That was down from 8.8 percent in 2023, marking the fourth drop-off in the last five years.

Among metropolitan statistical areas with a population of at least 200,000 and sufficient FHA-buyer data last year, those with the highest share of purchases made with FHA loans were Merced, CA (24 percent of sales); Bakersfield, CA (22 percent); Lakeland, FL (21.1 percent); Visalia, CA (20.5 percent) and Modesto, CA (19.4 percent of sales).

Report methodology
The ATTOM U.S. Home Sales Report provides percentages of distressed sales and all sales that are sold to investors, institutional investors and cash buyers in states and metropolitan statistical areas. Data is also available at the county and zip code level upon request. The data is derived from recorded sales deeds, foreclosure filings and loan data. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available.

Definitions
All-cash purchase: sale where no loan is recorded at the time of sale and where ATTOM has coverage of loan data.

Homeownership tenure: for a given market and given quarter, the average time between the most recent sale date and the previous sale date, expressed in years.

Home seller price gains: the difference between the median sales price of homes in a given market in a given quarter and the median sales price of the previous sale of those same homes, expressed both in a dollar amount and as a percentage of the previous median sales price.

Institutional investor purchases: residential property sales to non-lending entities that purchased at least 10 properties in a calendar year.

REO sale: a sale of a property that occurs while the property is actively bank owned (REO).

About ATTOM
ATTOM provides premium property data and analytics that power a myriad of solutions that improve transparency, innovation, digitization and efficiency in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloudbulk file licensesproperty data APIsreal estate market trendsproperty navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications – AI-Ready Solutions.

Media Contact:
Megan Hunt
megan.hunt@attomdata.com 

Data and Report Licensing:
datareports@attomdata.com

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Marquis Who’s Who Honors Rupin Chothani for Engineering Leadership

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UNIONDALE, N.Y., July 23, 2026 /PRNewswire/ — Marquis Who’s Who honors Rupin Chothani for his leadership in engineering and project management. With more than two decades of professional experience to his credit, Mr. Chothani leverages a unique expertise in fire and petrochemical solutions to find success in his field. As project manager, project engineer and proposal manager at Technip Energies N.V., Mr. Chothani ensures effective results.

Drawn to Engineering

Coming from a family of engineers, Mr. Chothani was naturally drawn to the profession. This inclination was reinforced by comprehensive aptitude and attitude tests administered at the age of 14, which highlighted his strengths in engineering and architecture. Ultimately, this direction reinforced his determination to pursue a degree in mechanical engineering.

By 2003, Mr. Chothani earned a Bachelor of Science in Mechanical Engineering at the University of Mumbai. After a brief role as a junior manufacturing engineer at Artech Cooling Tower Pvt. Ltd., he completed a Master of Science in Mechanical Engineering at the University of Bridgeport in 2006. In addition to these degrees, Mr. Chothani later achieved AutoCAD certification.

Following his graduation in 2006, Mr. Chothani joined CB&I Lummus / ABB Lummus Heat Transfer (now Lummus Technology) as a thermal engineer. Though his work at Lummus Technology lasted only three years, Mr. Chothani was greatly influenced by mentor figures at the company. These mentors, including Ken Catala, Peter Harvard, Chin Dang and Miller Alanath Carter, provided essential guidance.

Building a Family

In December 2008, Mr. Chothani married his wife, Cathy. Along with his son and daughter, his family has contributed richly to his success in engineering and they continue to inspire him to excel. In addition to their support, Mr. Chothani recognizes that there is no alternative to hard work and dedicated learning.

From Lummus Technology to Technip Energies N.V.

Following his work at Lummus Technology, Mr. Chothani worked with Maco Corporation India Pvt. Ltd. By 2011, he joined Complete Heat Transfer Solutions – Environ Energy Systems as a thermal and mechanical engineer. By 2013, Mr. Chothani became a part of Technip Energies N.V. as a furnace mechanical engineer. By 2023, he added to this role and became a project manager, project engineer and proposal manager at the company.

In his current role at Technip Energies N.V., Mr. Chothani is responsible for a variety of essential duties. He manages and executes on engineering projects for ethylene cracking furnaces and heaters, and oversees proprietary technologies. Additionally, he actively coordinates with procurement, logistics, mechanical engineering and process engineering teams to ensure effective results.

Plans for the Future

Moving forward, Mr. Chothani hopes to advance his project management skills, particularly within the firejet industry. At the same time, he aims to share his knowledge of the industry with the next generation of professionals. Outside of his professional ambitions, Mr. Chothani intends to prepare his children to find success, inspiring them and their peers with hands-on experiments and full-day events.

About Marquis Who’s Who®:

Since 1899, when A. N. Marquis printed the First Edition of Who’s Who in America®, Marquis Who’s Who® has chronicled the lives of the most accomplished individuals and innovators from every significant field, including politics, business, medicine, law, education, art, religion and entertainment. Who’s Who in America® remains an essential biographical source for thousands of researchers, journalists, librarians and executive search firms worldwide. The suite of Marquis® publications can be viewed at the official Marquis Who’s Who® website, www.marquiswhoswho.com.

Marquis Who’s Who
Uniondale, NY
(844) 394 – 6946
info@marquiswhoswho.com
www.marquiswhoswho.com

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COALITION OF INDEPENDENT INTERNET PROVIDERS ASKS CRTC TO FIX ERRORS IN WHOLESALE FIBRE RATES

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Coalition of competitive ISPs say current fibre rates make competition impossible and threatens to harm millions of Canadian consumers

CHATHAM, ON, July 23, 2026 /CNW/ — A coalition of independent internet service providers (the Coalition) led by TekSavvy Solutions Inc. (TekSavvy) today applied to the Canadian Radio-Television and Telecommunications Commission (CRTC) to review and vary Telecom Order 2026-77, which set final wholesale rates for fibre internet services. In that decision, the CRTC approved wholesale rates for fibre internet services that are higher than the retail prices charged by the large carriers. This makes competition impossible, as independent providers are forced to either sell at a loss or set prices above the large carriers, leaving millions of Canadian consumers without competitive options for essential internet services.

The application identifies key errors that led the CRTC to approve severely inflated final wholesale rates, which make it economically impossible for independent providers to compete. The Coalition argues that the CRTC’s incorrect rates negate the very purpose of Canada’s wholesale framework, which is to foster competition in retail broadband markets. Specifically, the Coalition asks the CRTC to make three key changes to Telecom Order 2026-77:

Eliminate one cost factor that is inconsistent with the CRTC’s established costing principles, which artificially increased fibre wholesale rates by an estimated 25% to 30% (the Adjustment Factor).Reduce another element of the costing that is inflated above reasonable levels: The Coalition calls on the CRTC to reduce the markup applied to wholesale fibre services from 30% to 15%, reflecting declining costs, operational efficiencies, and the need to support competition.Correct technical errors relating to certain wholesale fibre speed descriptions.

“Canadians were promised greater competition for fibre internet services, but these rates make competition impossible.” said Andy Kaplan-Myrth, TekSavvy’s Vice President of Regulatory and Carrier Affairs. “The CRTC must correct these errors to ensure its wholesale rates promote broadband competition that challenges the market power of monopoly incumbents, lowers prices, and increases consumer choice.”

About the Coalition

The Coalition consists of competitive telecommunications providers and industry associations advocating for fair wholesale access to fibre networks and a competitive broadband marketplace that delivers affordable, high-quality Internet services to Canadians, including: TekSavvy Solutions Inc., BC Broadband Association (“BCBA”), Canada-Wide Internet Service Providers Association (“CanWISP”), Fibernetics Inc., ISP Telecom Inc., National Capital FreeNet Inc., Novus Entertainment Inc. and Purple Cow Internet Inc.

About TekSavvy Solution Inc.

Based in Chatham, Ontario, TekSavvy is Canada’s largest independent telecom service company. TekSavvy has been proudly delivering award-winning services and fighting for consumers’ rights for nearly 30 years. TekSavvy is committed to providing quality competitive choice and closing Canada’s digital divide.

SOURCE TekSavvy Solutions Inc.

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Monk Launches Voice Collections, Bringing AI Phone Calls and Callbacks to Accounts Receivable

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Monk’s collections agent, Julia, can now place outbound collection calls and answer inbound AR questions from a dedicated business number, so finance teams can use the channel that collects best without adding headcount.

Multimedia: Watch Voice Collections in action: https://youtu.be/w09PoN1yACE 

NEW YORK, July 23, 2026 /PRNewswire/ — Monk, the AI-native accounts receivable platform, today launched Voice Collections. Its collections agent, Julia, can now place outbound collection calls and answer inbound customer questions about invoices and payments from a dedicated phone number for each organization. The feature brings the phone, long the most effective collections channel and the hardest one to scale, into Monk’s Intelligent Collections.

Roughly $10 trillion sits in unpaid invoices worldwide, and the average invoice now takes 59 days to clear (Allianz). Most accounts receivable runs on email, and most of it waits. More than half of B2B invoices in the United States are overdue at any given time, and 92% of businesses are typically paid after their due date (Chaser, 2026). Phone calls recover overdue invoices two to three times better than email (Dunwise), yet 91% of finance teams still rely on email as their main follow-up channel and only 56% use the phone, because calling every overdue account by hand does not scale and a single human dunning call can cost $12 to $18 (HighRadius).

Voice Collections gives teams that coverage. Julia can call on the accounts a playbook flags for phone follow-up, and answer when a customer calls the same number back to ask about an invoice, a payment, or a bank detail. Businesses that follow up on 100% of overdue invoices are 76% more likely to be paid within a week (Chaser), and a voice agent is what makes full coverage possible.

Monk’s collections agent is already proven on the accounts it handles by email. Across Monk’s first 100 customers, Julia reaches customers with a 24% higher response rate than standard dunning and resolves 88.2% of collections with zero human intervention. Voice extends that reach to the phone.

“For years the assumption was that customers would not talk to an AI on the phone,” said George Kurdin, Founder and CEO of Monk. “The evidence now points the other way. People engage with a good voice agent, and in AR the phone was always the channel that collected best. We built Voice Collections so finance teams can finally use it at the scale email gave them.”

That assumption is worth retiring. In a University of Chicago Booth field study of roughly 70,000 interviews, people interviewed by a voice AI agent were 12% more likely to receive an offer, 18% more likely to start, and 17% more likely to still be there after 30 days, and 80% chose the voice AI over a human when given the choice. The setting was recruiting rather than collections, but the finding travels: given a capable voice agent, people lean in rather than hang up. A call also does something email cannot, which is secure a verbal promise to pay in the moment.

Built for finance, with the phone agents kept with strict guardrails

Voice in finance has to be constrained, and Monk designed Voice Collections around that from the start. The agent is read-only on the phone. It answers questions, confirms details, and routes the next step. It will not rewrite an invoice, change a payment status, or accept a sensitive payment change by voice.

The agent is also reference-based. If a caller asks about an invoice, Julia asks for both the company name and the invoice number before looking anything up, and it will not search broadly from a single detail. Every inbound and outbound call is kept in the collection record alongside the email history, so a callback is part of the same thread the team already sees, and anything that needs judgment escalates to a person.

“Voice in finance has to be careful by design,” said Joe Zhou, Co-Founder and CTO of Monk. “Julia will not browse across accounts or move money over the phone. A caller has to bring the company name and invoice number before it confirms anything, and every call lands in the record. In finance a 1% mistake is still unacceptable, so we built for that first and added the reach second.”

Teams run autonomous collections on Monk

Monk runs collections for finance teams at companies like Unify, Pump, Siro, and Elate, and Voice Collections extends what those teams already do by email onto the phone.

“We chose Monk to help automate our collections, a process previously demanding several hours a week of manual, one-off outreach,” said Will Stewart, Head of Finance and BizOps at Unify. “Today, our Monk agent is always running in the background and I have a single dashboard to manage AR from.”

At Pump, which manages volume across more than 1,500 customers, Monk has helped collect over $10 million in recent months.

Voice AI is now infrastructure

The timing reflects how far voice AI has come. It has moved from demo to infrastructure: Vapi has processed more than 1 billion calls, Bland handles over 3.5 million calls a week, and ElevenLabs raised a $500 million round at an $11 billion valuation in early 2026. Monk builds Voice Collections on that foundation and adds the part finance actually needs, which is the AR context, the controls, and the audit trail.

Voice Collections is available now as an opt-in feature. Monk configures the dedicated number and call behavior with each organization before turning it on in Collections. See it in action: https://youtu.be/w09PoN1yACE.

About Monk

Monk is the AI-native accounts receivable platform that helps finance teams turn revenue into cash. Its agent, Julia, runs collections, cash application, and forecasting as one connected system. Monk resolves 88.2% of collections with zero human intervention, reaches customers with a 24% higher response rate than standard dunning, reduces DSO by more than 40%, automatically matches 80% of incoming payments with a full audit trail, and gives finance teams back roughly 26 hours a month. Teams onboard in under a week and see results in their first month. More than $1.5 billion in receivables is managed on the platform, including for customers like Profound and ElevenLabs. Monk has raised $25 million and is based in New York.

Media contact
Kendall Warson
kendall@monk.com
+1 415-827-6585

Sources: Chaser 2026 Accounts Receivable research; Dunwise dunning research; HighRadius collection call cost analysis; University of Chicago Booth field study on AI in recruiting; voice AI figures compiled by Enterprise DNA; Federal Reserve data; Allianz Worldwide DSO survey.

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