CybersecuritySoftwareTechnology

Digital Identity Verification Gaps Cost Global Businesses $95 Billion Annually, Study Finds

Companies worldwide are losing nearly $95 billion annually due to insufficient digital identity verification systems, new research indicates. The study reveals that “good enough” identity solutions are creating revenue traps beyond just fraud losses. Businesses using global identity platforms reportedly achieve better performance and competitive advantages.

The $95 Billion Digital Identity Problem

Global businesses are reportedly losing approximately $95 billion annually due to inadequate digital identity verification systems, according to new research from PYMNTS Intelligence conducted in collaboration with Trulioo. The study suggests these verification gaps are costing companies an average of 3.1% of their annual revenue through multiple channels beyond just direct fraud losses.

GovernmentSoftwareTechnology

U.S. Considers Software Export Restrictions to China Amid Trade Tensions

The United States is reportedly weighing restrictions on software exports to China in response to Beijing’s rare-earth controls. Treasury Secretary Scott Bessent confirmed that “everything is on the table” regarding potential trade measures.

Potential Software Export Restrictions

The United States is considering imposing export controls on software-related products to China, according to reports from Reuters. The potential measures come in response to Beijing’s recent implementation of sweeping rare-earth export restrictions, escalating trade tensions between the world’s two largest economies.

AISoftwareTechnology

Generative AI Coding Assistant Market Set for Explosive Growth, Projected to Reach $139 Million by 2032

Analysts project the generative AI coding assistant market will expand at a 25.4% CAGR through 2032, reaching nearly $140 million. Key drivers include real-time code suggestions and cloud integration, with North America leading adoption and Asia-Pacific emerging as the fastest-growing region.

Market Set for Rapid Expansion

The generative AI coding assistant market, valued at approximately $18.34 million in 2023, is projected to grow to around $139.55 million by 2032, according to recent industry analysis. Sources indicate this represents a compound annual growth rate (CAGR) of 25.4% during the forecast period from 2024 to 2032. The growth is reportedly fueled by technological innovations that streamline software development, reduce errors, and accelerate project timelines.