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At its 2023 ‘Build’ developer-focused conference, Microsoft has outlined a range of new innovations across its product set, with the focus centred unsurprisingly on the use of AI. In recent months we have seen numerous announcements from Microsoft around how it has looked to expand its integration with OpenAI and ChatGPT, with the most significant being the launch of Microsoft Copilot for 365 (See Microsoft Copilot to disrupt how we work).
Copilot has become both the brand and concept that Microsoft is using across its product set, as it describes it a copilot is ‘an application that uses modern AI and large language models (LLMs) like GPT-4 to assist people with complex tasks’. Microsoft first introduced the concept of a copilot nearly two years ago with GitHub Copilot, an AI pair programmer that assists developers with writing code. Now it is being used across its product portfolio, and highlighting how AI is now embedded in everything that it does.
The latest announcements at Build 2023 include; Copilot for Windows 11, the integration of Bing with ChatGPT, new plugin integrations from the likes of Spotify, Zillow, Expedia and Instacart, Copilot for Edge, as well as a new data analytics platform called Fabric.
TechMarketView subscribers, including UKHotViews Premium subscribers, can read more about these latest innovations and our own views on how these changes will impact UK organisations in this UKHotViewsExtra article: AI everywhere at Microsoft Build 2023
Posted by Simon Baxter at '10:08' - Tagged: microsoft AI ArtificalIntelligence
Recently published accounts show Civica delivered a strong financial performance and made significant strategic progress in the year ended 30 September 2022. Total revenue for the year was up 3.8% to £476.5m (2021: £458.9m), but this included the impact of exiting legacy business process outsourcing (BPO) contracts. Within its core software divisions—a far better indicator of Civica’s prospects—turnover increased by 10.3% (9% organically) to £398.9m (2021: £361.7m).
For the Group, gross profit was up 3.0% to £272.2m (2021: £264.2m), operating profit before amortisation and exceptional items down 1.6% to £100.5m (2021: £102.1m) and EBITDAE up 1.0% to £111.6m (2021: £110.5m). Again, performance was much improved in its core software business, with gross profit up 6.1% to £242.6m (2021: £228.7m), operating profit before amortisation and exceptional items up 4.2% to £103.3m (2021: £99.1m) and EBITDAE up 6.4% to £112.8m (2021: £105.9m). The volume of major software sales (£100k+ contracts) increased by 46% year-on-year.
Civica made good progress in its strategy of sharpening its focus on providing cloud software and associated services, with six BPO contracts handed back to customers in 2022. This strategy was further strengthened by the divestment of its third-party software licensing business in February 2022.
The company completed five acquisitions during the year for a combined total consideration of £77.8m, including a strategic move into the Canadian healthcare market with Momentum Healthware.
Civica appointed Lee Perkins as Group CEO during the year and has just announced two further senior appointments, with Shambhavi taking on the newly created role of Chief Revenue Officer and Derek Wise appointed as Chief Product & Technology Officer.
We are not expecting to see any radical departure from Civica’s existing strategy in 2023; it will continue to invest heavily in its people, products and acquisitions. Under the new management team, we expect to see Civica build on its track record of profitable growth, continue to capitalise on cross-selling and upselling opportunities across its large customer base, and enhance its go-to-market strategy.
TechMarketView subscribers, including UKHotViews Premium subscribers, can read more about Civica’s performance and prospects in our expanded UKHotViewsExtra article here.
If you aren't a subscriber – or aren't sure if your organisation has a corporate subscription – please contact Deb Seth to find out more.
Posted by Dale Peters at '09:00'
Posted by TMV Team at '08:00'
Recent months have seen ups and downs on the markets, driven recently by concerns about the stability of the banking system following the collapse of tech specialist lender Silicon Valley Bank in March. But tech stocks have been the big winners, with the tech-focused Nasdaq Composite index up 21% since the start of 2023.
Tech stocks are benefitting from the belief that the Federal Reserve will pause and perhaps even halt altogether further rises in interest rates, as evidence mounts that US inflation is coming under control and the world's largest economy is slowing.
And strong earnings data in the latest round of Big Tech quarterly updates has compounded investor confidence in the sector.
However, this is not yet the start of another tech boom, with much of the market growth restricted to just a handful of big-name stocks.
UKHotViews Premium readers can read more on how tech is turning into the sector to watch in Tech is the big winner as banking turmoil casts a long shadow.
And if you would like to discuss subscription options, please contact Deb Seth.
Posted by Tania Wilson at '09:49' - Tagged: markets macro
Are you looking to increase your brand’s visibility in the UK tech market? For an opportunity to share your message with our audience of over 20,000 tech leaders? And to be recognised as a noteworthy player by association with a leading independent analyst firm?
Look no further than sponsoring TechMarketView’s flagship event, An Evening with TechMarketView, which returns for its ninth year on 21 September 2023.
A highlight of the UK tech calendar, we’re expecting over 200 senior executives to join us at the Royal Institute of British Architects (RIBA) in London, for an evening that combines first-class networking with peers and prospects over drinks and dinner, with an opportunity to absorb insight on the latest tech trends directly from our analyst team and expert guest speakers.
By sponsoring the event you’ll raise your brand profile and gain access to key decision makers on the evening itself as well as in the months leading up to the event, with all sponsors set to feature heavily in UKHotViews and our social feeds between now and September.
We have sponsorship packages available to suit a variety of budgets with a selection of additional benefits, including tickets to the event, advertising packages and a bespoke article authored by our analysts with reprint rights.
Check out all the options here or contact our Client Services team to learn more – info@techmarketview.com.
Tickets for the event are also on sale now with discounted prices for our subscription and advertising clients – book via our event management partner tx2events here.
Posted by TMV Team at '08:40'
In recent years, the UK financial services landscape has been significantly disrupted by innovative technology-based propositions. These fintechs are increasingly populating an ecosystem previously dominated by traditional providers of financial services and long-established business models.
Whilst fintechs are technology businesses in their own rights and the majority of their software and IT services (SITS) spend has tended to be in-house, there are increasing opportunities for vendors. As the sector grows and the requirements of fintechs evolve, external SITS spend is on the increase.
A new report The UK Fintech SITS Market Opportunity analyses external spend by UK fintechs and introduces TechMarketView's market data in this area. The analysis defines the market and its primary segments and includes market sizes and growth rate forecasts.
Available to FinancialServicesViews subscribers, The UK Fintech SITS Market Opportunity identifies the key market shaping trends and lays out some of the challenges and opportunities facing SITS vendors looking to capitalise on this evolving space.
If you do not currently have access to FinancialServicesViews and are interested in this report or any other of our output, please contact Deb Seth for more information.
Posted by Jon C Davies at '07:00' - Tagged: financialservices fintechs
Live now is TechMarketView’s most recent analysis of the key trends and dynamics in the UK Infrastructure Operations market.
Authored by Kate Hanaghan, Chief Research Officer, “Infrastructure Operations: Market Trends and Forecasts” explains TechMarketView’s latest market size and growth data and provides expert analysis of the key trends shaping this exciting area of IT Services.
Infrastructure Platform services continue to expand as a share of the total market, with important implications for hyperscalers and their partner ecosystems. Indeed, such is the position of the hyperscalers, that Ofcom recently said it was “concerned” about Microsoft and Amazon Web Services.
“Infrastructure Operations: Market Trends and Forecasts” provides recommendations and considerations for how suppliers should approach the market to maximise their success against a backdrop characterised by both complexity and opportunity.
Who should read the report? If you work in strategy or marketing, this is essential reading for you. Check you are in-tune with the market and assess how well you are performing. If you would like a more customised view of your company’s position, please contact the author.
This report is also very useful reading for leaders of Infrastructure Operations businesses, providing an insight into market evolution and advice on strategic moves. Equally, if you are new to the UK IT Services industry, this report is an accessible guide to the key trends and market developments.
Contact Deb Seth if you are not a TechSectorViews client and would like to access the report.
Posted by HotViews Editor at '09:30' - Tagged: research hyperscalers infrastructureoperations
Chegg is an Edtech company that allows students to rent textbook, provides online study guides, tutoring services and exam prep, largely through a monthly subscription model. Some have claimed using such services to prepare for exams is akin to cheating, it depends on your perspective, but it has been a new way for students to learn that many have embraced.
Yesterday the stock fell another 50% overnight, and one of the main contributing reasons was comments made regarding the impact of ChatGPT.
Chegg CEO, Dan Rosenweig said “In the first part of the year, we saw no noticeable impact from ChatGPT on our new account growth and we were meeting expectations on new sign-ups. However, since March we saw a significant spike in student interest in ChatGPT. We now believe it’s having an impact on our new customer growth rate”
To combat this decline the company is now aggressively investing in AI through ChatGPT, as it looks to both capitalise on the potential for AI, and disrupt its own business before others do it for them. CheggMate will combine the power of GPT-4’s advanced AI systems with Chegg's extensive content library and subject-matter experts to create a faster and more personalised learning experience.
So, is this the future of education? Perhaps. It is certainly going to be a hugely disruptive factor for both students and educators. The latter in particular are already scrambling to adapt how students are tested to avoid the issues of plagiarism and AI generated content.
TechMarketView Subscribers can read a bit more about Chegg as well as the impact from AI on Education and other white-collar industries in our HotViewsExtra article: How EdTech is at the forefront of AI disruption
Posted by Simon Baxter at '09:47'
TechMarketView has kicked off a new research programme focused on explaining and understanding the intricacies of new/fast-growing markets.
Data Insights looks at some of the most interesting and complex areas of the very broad UK Software and IT Services market, undertaking robust analysis of the size and growth opportunity.
Get up to speed with publications from Q1:
Data Insights is available to our TechSectorViews research programme clients and is part of an exciting set of new formats for 2023:
For more information on becoming a TechSectorViews client, speak to Deb Seth.
And, as ever, if you want to understand more closely the specific implications for your own organisation, contact Chief Research Officer, Kate Hanaghan, about an engagement.
Posted by Kate Hanaghan at '09:30' - Tagged: research data marketmodel
