Large floating wind farms are being deliberate off the coast of Australia

Floating wind farm is installed.

teaa1946 | iStock editorial team | Getty Images

Plans have been announced for three major offshore wind developments in Australia, two of which will incorporate floating wind technology.

In a statement on Wednesday, BlueFloat Energy, headquartered in Madrid, said it would develop the projects with consultancy Energy Estate, which is present in the Australian cities of Sydney, Canberra and Adelaide.

The proposed facilities are the 1.4 gigawatts Hunter Coast offshore wind project, which would be located in waters off Newcastle, New South Wales; the Wollongong Offshore Wind Project, which will have a capacity of 1.6 GW and will be spread over two sites off Wollongong, New South Wales; and the 1.3 GW Greater Gippsland offshore wind project planned for waters off the Gippsland region of Victoria.

According to BlueFloat Energy, the Hunter Coast and Wollongong projects will use floating wind technology. The Greater Gippsland wind farm will be a ground-based development.

“Offshore wind power is booming around the world and now it is time for Australia,” said Carlos Martin, CEO of BlueFloat Energy, in a statement.

“We are excited about the prospect of introducing the two types of offshore wind technology … in Australia as it will allow us to take advantage of some of the best offshore wind resources in the world.”

Read more about clean energy from CNBC Pro

A report from the Global Wind Energy Council found that 6.1 GW of offshore wind capacity was installed in 2020, a small decrease from 6.24 GW in 2019.

The GWEC report released earlier this year predicts that over 235 GW of offshore wind capacity will be installed over the next decade, with total capacity reaching 270 GW by 2030.

Australia currently has no offshore wind farms. Towards the end of November, Parliament approved laws that authorities said would “support the development of Australia’s offshore energy industry and create new jobs and investments in offshore wind farms and transmission projects”.

In a statement, Angus Taylor, Australia’s Minister for Industry, Energy and Emission Reduction, said the legislation would “accelerate a number of key projects that are already under development”.

This includes Star of the South, another offshore wind farm proposed for waters off the Gippsland coast. Those behind the project say the facility will provide electricity to around 1.2 million homes in Victoria state when Star of the South is “developed to its full potential.”

In the past few years several companies have dealt with floating offshore wind projects.

Back in 2017 Norway Equinor opened Hywind Scotland, a 30 megawatt facility it calls “the first full-scale floating offshore wind farm”.

Then, in September 2021, another Norwegian company, Statkraft, said that a long-term purchase agreement regarding a floating offshore wind farm is considered “largest in the world” had started.

Elsewhere, RWE Renewables and Kansai Electric Power announced in August that they had signed an agreement The “feasibility of a large floating offshore wind project” in waters off Japan’s coast is being examined.

Floating offshore wind turbines are different from ground-mounted offshore wind turbines, which are anchored in the seabed. One advantage of floating turbines is that they can be installed in deeper waters compared to floor-mounted turbines.

RWE described floating turbines as “mounted on floating structures attached to the seabed with mooring lines and anchors”.

Lego Reveals Its Big UCS Type AT-AT Star Wars Mannequin

The Lego Group has now unveiled one of the company’s biggest Star Wars sets, due out later this month. On Black Friday weekend, you can try to get your hands on a new AT-AT model.

This AT-AT is huge because it comes from the UCS model range. It comes with 6,785 pieces and retails for $ 799.99 in the US. It will be available on November 26th, 2021.

The AT-AT is a full scale minifigure that also includes an entire interior. The 9 minifigures are five Snowtroopers, two AT-AT drivers, General Veers and even Luke Skywalker.

The interior offered space for 40 minifigures and includes the cockpit and some moving parts. You can read over the full features of the toy below Lego.com.

  • Build and deploy the very first LEGO® Star Wars ™ Ultimate Collector Series version of an AT-AT (75313) from the Battle of Hoth in Star Wars: The Empire Strikes Back.
  • Includes 9 LEGO® Star Wars ™ minifigures – General Veers, Luke Skywalker, Snowtrooper Commander, 4 Snowtroopers and 2 AT-AT Drivers – plus an information board to complete a stunning centerpiece.
  • This epic, buildable model features posable legs and head, opening hatches, cannons with realistic recoil, rotating cannons, a bomb drop hatch and a hook to attach to Luke Skywalker’s leash.
  • The AT-AT has panels that rise to reveal the interior. The main body offers space for up to 40 LEGO® minifigures, 4 speeder bikes (2 included) and the supplied heavy-duty e-web repeater blaster.
  • This 6,785-piece set is complex and rewarding to build, and makes the best birthday or Christmas present for yourself, any Star Wars ™ connoisseur, and advanced LEGO® builder.
  • With a height of over 62 cm, a length of 69 cm and a width of 24 cm, this brick-built LEGO® Star Wars ™ UCS model is an impressive exhibit in any room.
  • Are you a Star Wars ™ fan new to LEGO® sets? Do not worry. It comes with clear instructions so that you can take your time and tackle this complex build step by step.
  • LEGO® Star Wars ™ adult collectibles are designed for the discerning hobbyist who enjoys fun DIY projects to relax in a mindful and creative way.
  • LEGO® components meet strict industry standards to ensure compatibility and a simple, strong connection for robust builds.
  • LEGO® bricks and parts are tested in almost every possible way to ensure they meet strict global safety standards.

When you order from Lego Stores and the website, you will also receive Luke Skywalker’s lightsaber mini-build as a free bonus gift.

Would you like to read more about it? Check Out This: Hot Toys Reveals Shoretrooper Figure From Star Wars (more); Star Wars The Black Series Rancor Toys Revealed (more); Star Wars: Visions is surprisingly good (more); The original trilogy editor hates the Star Wars cinematic (more).

And here are some more related articles: Lego Star Wars Halloween Special Trailer Released (more); Lego Star Wars: The Skywalker Saga will be released in 2022 (more); New trailer for Star Wars: Visions released (more).

A few more: LEGO Star Wars Halloween Special Screening on Disney + (more); Hasbro Reveals New Carbonized Star Wars Black Series Toy (more).

Milwaukee Bucks rejoice ring evening in fashion behind large evening for Giannis Antetokounmpo | NBA.com India







Well that was emphatic.

The Milwaukee Bucks did their title defense in style and blew up the Brooklyn Nets on a night of celebration in Milwaukee.

The Bucks led most of the night in the 127-104 win, reminding the league that it won’t be all one-way traffic for the Nets in the Eastern Conference.

For Milwaukee, the night began with the ring and banner ceremony.

The long wait is over for Milwaukee

50 years is a long time.

Of course we know the Bucks are champions, but there is something final about players and staff receiving their championship rings.

Milwaukee players and staff were presented with their championship rings prior to the tip. They look … expensive !!

Championship ring 2021.

? @JewelersMutual pic.twitter.com/O30OcMaHXq

– Milwaukee Bucks (@Bucks) October 19, 2021

Smiles filled the Fiserv Forum as the presentation celebrated the franchise’s first championship since 1971.

No rust for Giannis

The move from the ring ceremony to game mode has left some teams on the line over the past few seasons, with Antetokounmpo admitting it was a challenge.

“It’s kind of difficult to balance it out. You go from this excitement, this emotional state, to prepare for a game,” Antetokounmpo said in a post-game interview.

When it was difficult it was hard to tell as Antetokounmpo crammed the pit score from the start.

The Greek freak picked up right where he left off.

32 PTS | 14 REB | 7 AST | 2 BLK | 1 STL pic.twitter.com/0xhTxmTN7E

– Milwaukee Bucks (@Bucks) October 20, 2021

The finals MVP scored 32 points, 14 rebounds and seven assists in just 31 minutes. He knocked out a threesome and some mid-range jumpers while finishing his new streamlined routine on the 7-on-9 streak from the free throw line.

The Nets made a big splash with their starting line-up, using Nic Claxton and moving away from their tactic of starting Blake Griffin in the middle of the playoffs. Whoever they threw at Giannis in this case, it didn’t matter, because the 26-year-old looked hotter than ever in the beginning.

Injuries are on the rise in Milwaukee

It wasn’t a perfect night for Milwaukee, with Star Guard Jrue Holiday at risk of injury.

Holiday seemed to get sore on a trip to the basket in the second quarter. He would stay on the ground for a few possessions before leaving the game for good before half time.

The team announced the injury was a bruised heel, despite head coach Mike Budenholzer confirming that the post-game media availability scans had returned flawlessly.

Holiday joined Bobby Portis (thigh), Semi Ojeleye (calf), Rodney Hood (foot) and Donte DiVincenzo (ankle) on the sidelines for the opener. The depth of the bucks was tested, with 2-way players Sandro Mamukelashvili and Justin Robinson both watching game time on the opening night.

The Bucks hope Holiday can recover quickly as they leave for a meeting with Miami in two nights.

Patty sizzles in Net’s debut

The Nets may have gone under, but Patty Mills wasn’t to blame.

The Australian guard was considered one of the off-season’s most sought-after recruits, with the sharp-firing guard intended to reinforce an already terrifying offense.

Mills continuously kept Brooklyn within striking distance, finishing with 21 points in an incredible 7v7 shooting from a distance.

Hot shooting aside, Mills gave the Brooklyn offense a difference as his ability to pick up the pace and ask questions of the Milwaukee defense in transition was a nice addition.

Patty tried 7 threesomes.

Patty did 7 threesomes.

For most, that equates to setting the NBA record on a debut with a new team. pic.twitter.com/z3LjQm93EC

– Brooklyn Networks (@BrooklynNets) October 20, 2021

Networks lack help

Mills’ contributions were urgently needed in this case, with Kevin Durant and James Harden otherwise shouldering the burden of shooting on goal.

Durant finished with 32 points and 11 rebounds while Harden added 20 points, eight rebounds and eight assists.

The trio contributed 73 of Brooklyn’s 104 points. Outside of Mills, the Nets only managed four points off the bench.

The lack of help was compounded by the Bucks, with Pat Connaughton (20 points), Jordan Nwora (15) and Grayson Allen (12) contributing to Antetokounmpo’s performance.

Despite their significant injury list, the Bucks looked like the lower list that night.

The views on this page do not necessarily reflect the views of the NBA or its clubs.

2021 U.S. Open prize cash, purse: Payouts, winnings for every golfer from enormous $12.5 million pool

Prize money of 12.5 million US dollars is up for grabs at the US Open 2021 this weekend. The lucrative pot is the largest of all four major golf championships, offering a whopping $ 2.25 million for the winner and $ 1.35 million for the runner-up. The combined payout for the top five players on the leaderboard is $ 5.5 million.

The $ 12.5 million prize pool is the same as last year’s US Open payout, and the prize pool for each slot remains the same as last September when Bryson DeChambeau won his first major championship of his career with Winged Foot.

However, the location of this year’s event, Torrey Pines, is not a winged foot. It is playing longer than the US Open venue last year. With a par 71, it looked receptive enough for golfers to use the course. DeChambeau, for example, was the only golfer to underperform at the US Open last year; almost two dozen in the field ended up in the red after round 1.

Let’s see how the 2021 US Open prize money is spread out as we prepare for an exciting weekend in La Jolla, California. When golfers are tied for a place, they share the average of the combined winnings of their respective places on the leaderboard.

2021 US Open prize money, wallet, payouts

Total budget: $ 12.5 million

1. $ 2,250,000
2.1350,000
3. $ 861,457
4. $ 603,903
$ 5,502,993
6. $ 445,997
7. $ 402,083
8. $ 360,113
9. $ 325,916
10. $ 299,360
$ 11,273,194
12. $ 252,597
13. $ 235,369
14th $ 217,234 $ 2nd
15 $ 201,689
16. $ 188,735
$ 17.88,372
18. $ 168,009 $ 1
19. $ 157,646
20 $ 147,283
21. $ 138,345
22nd $ 129,407
23 $ 120,728
$ 24.112,697
25 $ 105,702
26. $ 99,743
$ 27.95,209
28 $ 91,194
29 $ 87,308
$ 30.33,422
31. $ 79,535
32. $ 75,649
33. $ 71,763
34. $ 68,266
35. $ 65,416
36. $ 62,566
$ 37.59,846
38.57,255 $
39. $ 54,664
$ 40.52,074
$ 41.49,483
$ 42.46,892
$ 43.44,301
44. $ 41,711
45. $ 39,120
46. ​​$ 36,788
47. $ 34,456
48. $ 32,254
49. $ 30,959
$ 50.29,664
$ 51.28,886
52.28,239 $
53. $ 27,720
54. $ 27,461
$ 55.27,202
$ 56.26,943
$ 57.26,684
58. $ 26,425
59. $ 26,166
$ 60.25,907

Jim Cramer: The Reopening Is Large, and the Cash Managers Are Clueless


May 18, 2021 | 4:13 p.m. EDT

Share prices in this article:

WMT,

HD,

M.,

AAPL,

AMZN,

NCLH,

DIS,

AMC,

ULTA,

THE,

WYNN,

ABNB,

PLTR,

TWLO,

ZM,

U.

It’s not just a reopening. It’s a reopening with a country full of cash. I am starting to realize that many money managers either never went shopping or went nowhere at all. If they did, they would know that at this point in time there is simply no stopping an American consumer who has a clean record and a desire for something to be done outside …

Stay ahead of the market with Real Money where you can get actionable investment ideas from over 30 investment professionals, money managers, journalists and analysts selected by Jim Cramer. Already a subscriber? You’re welcome Registration

MGM Resorts Rolls Out Enormous Slate of Leisure

For a long time Las Vegas and Atlantic City were the only places in the United States where you could legally gamble.

Then a shipload of churches opened up casinos across the country and suddenly you could only drive and gamble for a few hours.

ADVERTISING

But Vegas was always right from the start that gambling alone wouldn’t attract tourists. It is now safe to say that as many visitors go to Las Vegas for top-notch entertainment as they do to gamble.

And nobody likes entertainment like MGM resorts Las Vegas properties including the iconic MGM Mirage Hotel and Casino, Park MGM, Mandalay Bay, and Luxor.

With Vegas hotels going to 100 percent capacity starting June 1st, this is what MGM has to offer.

Soccer

This upcoming season, slated to begin in September, marks the second year for the Las Vegas Raiders. Since the first year is marked by the COVID-19 pandemic and there are no fans present, MGM is planning several events around the football season. This includes the MGM Resorts Stadium Walk. Mandalay Bay Resort and Casino and Luxor Hotel & Casino offer special room packages, sporting festivities and live entertainment options that are programmed throughout the season. Mandalay Bay and Luxor offer Strip to Stadium hotel packages for guests who want to cheer on their favorite teams. Packages include a two-night stay at Mandalay Bay or Luxor, plus up to $ 150 food and drink credit per stay that can be used at the Bud Light Beer Garden or at venues across the hotel. Looking ahead, the 2022 NFL Draft is expected to take place in Las Vegas this April.

Bud Light beer garden

The hotel is located on the Strip on the corner of Las Vegas Blvd. and on Hacienda Ave. Bud Light Beer Garden will be the ultimate outdoor game day when fans from across the country come to sit down with their home team at the new state-of-the-art Allegiant Stadium in Las Vegas. On every game day in Las Vegas, the Bud Light Beer Garden becomes an electrically interactive environment from four hours before kick-off. Professional sports legends perform throughout the season to talk about sports and gain insight into the soccer team of the week’s matchups.

UFC

UFC 264 will take place on July 10th at the T-Mobile Arena. When the tickets went on sale last month, they sold out in just 45 minutes. This is the first full capacity event planned for the T-Mobile Arena with 20,000 seats. The main event will likely be one of the greatest fights in the history of the sport and the third matchup between the popular Conor McGregor and his opponent Dustin Poirier.

Bruno Mars

The hugely talented and hugely popular singer is returning to the Park Theater in Park MGM for six performances in July. He quickly sold all six – two shows on the weekend of July 4th, followed by four more dates in July.

Cirque de Soleil

First Frank Sinatra and the Rat Pack owned Las Vegas entertainment, then Elvis Presley, then Celine Dion. Now it is Cirque du soleilwho is planning to resume some of their shows. The group has already announced that “O” will open on July 1st, while the Blue Man Group will return in Luxor on June 24th. “O” is the city’s most successful stage production and has been sold out every evening for two decades.

Heading entertainment

In the showrooms of various MGM hotels you will find headliners like the Australian Bee Gees, Brad Garrett and his eponymous Brad Garrett Comedy Club, Carrot Top, David Copperfield, FANTASY, Jabbawockeez, Terry Fator and Thunder from Down Under. They have all returned on stage and perform with limited capacity.

(Top LR) Shin Lim, Bill Maher, Carrot Top, David Copperfield, Boyz II Men, David Spade. (Middle LR) Kathleen Madigan, Jabbawockeez, Brad Garrett, Fantasy, Jay Leno. (Bottom LR) Australian bee gees, Ray Romano, Hans Klok, Terry Fator, Donner from Down Under. (Courtesy photo of MGM Resorts)

Aces of Comedy at the Mirage

The popular series returns in July with some of comedy’s biggest names, including Chelsea Handler, Gabriel Iglesias, Jim Jefferies, Bill Maher and Tom Segura.

Weak jobs report may spur, sluggish Biden’s large cash package deal

WASHINGTON (AP) – President Joe Biden’s promised economic comeback hit a pace on Friday with the April job report that saw modest job gains of 266,000, complicating his $ 4 trillion boost to infrastructure, education and children.

The employment report did not show that the US economy, much as it appeared to be stuttering, picked up as the unemployment rate rose to 6.1%. Economists had forecast around a million additional jobs last month, and the humble attitudes indicated that the $ 1.9 trillion coronavirus aid package has so far provided an uneven boost.

The numbers pose a new challenge for Biden at a critical moment in his presidency. He insists that an open embrace of massive government spending will help resolve the country’s public health and financial turmoil – and improve the political outlook for Democrats en route to next year’s election. But the disappointing employment numbers could also encourage critics and heighten Republican resistance to the infrastructure package that Biden is trying to push through Congress.

Biden responded to the report and tried to allay the concerns.

Biden delivers an infrastructure message during the trip to Louisiana

“We knew this wasn’t going to be a sprint – it would be a marathon,” he said. The Pandemic Aid Package “was designed to help us over a period of one year, not 60 days. A year. We never thought that after the first 50 or 60 days everything would be fine. Today there is more evidence that our economy is moving in the right direction. But it is clear that we still have a long way to go. “

Biden’s opponents say the legislation has exacerbated the problems in at least one way, with increased unemployment benefits giving the unemployed a reason to stay home instead of looking for work.

The president said the job data doesn’t show that. And proponents of its plans can argue that the report shows that more spending is needed to keep the economy going.

There are also problems with supply shortages for computer chips and lumber, which are holding back growth. This is a reminder that the world’s largest economy seldom perfectly matches the wishes of the legislature.

The fate of the president’s agenda could depend on how the public processes and understands the April job report in the coming weeks, said Jon Lieber, executive director of Eurasia Group, a political risk consultancy and advisory firm.

Biden wants 70% of adults to get at least one shot by July 4th

“Can Republicans use this to say, ‘This is what happens when the government interferes with the economy and messes things up?’ Or does the public see this as a need for more government support? “Said Lieber.” That is the argument for the next month.

A clear aspect across the partisan borders was the need for caution in interpretation. A single monthly report can be volatile. The three-month average employment growth is still a healthy 524,000.

Michael Strain, an economist at the conservative American Enterprise Institute, noted that many companies have reported that they cannot find work despite increased hourly wages. Strain said he plans to monitor upcoming reports to see if this pattern is a worrying sign of Biden’s vision of how government spending can drive growth.

“If we continue to hear a growing chorus of companies complaining about labor shortages, and if wages keep rising, it will be tempting to conclude that many of the 8 million jobs we are currently missing are not returning,” said Strain.

The US Chamber of Commerce calls for the termination of the additional $ 300 per week unemployment benefit

The U.S. Chamber of Commerce, which represents companies, blamed the relatively generous unemployment benefits Biden provided as part of his relief package. The group said the controls prevent people from taking jobs.

“One step that policymakers should take now is to end the $ 300 additional weekly unemployment benefit,” said Neil Bradley, chief policy officer for the chamber. “Based on the Chamber’s analysis, the $ 300 benefit means that roughly one in four recipients takes home more unemployment than they earned.”

Jared Bernstein, a member of the White House’s Council of Economic Advisers, said he heard that companies were having difficulty finding workers, but he did not see those concerns in the employment report. For example, restaurants and bars created 187,000 jobs in the last month, although in theory workers in this relatively low-wage sector would have an incentive to just collect unemployment.

The job report pointed to other factors that could bolster Biden’s agenda. It showed losses to women forced to care for children and relatives due to the pandemic. The family demands prevented them from working outside of jobs.

There was a drop of 165,000 among women over 20 who had or were looking for work in the past month. In contrast, men saw labor force participation increases by 355,000.

One way to bring women back could be Biden’s plans to fund childcare, set up a national family vacation program, and expand child tax credits through 2025. The idea is that government action is needed to open up the labor market.

“Apparently, when you start blinking at this data to find out what’s going on, you need more government to tackle a labor shortage,” said Michael Madowitz, an economist at the Liberal Center for American Progress.

House spokeswoman Nancy Pelosi cited the “disappointing” job report as evidence that Biden’s $ 4 trillion agenda must be approved quickly.

“The evidence is clear that the economy requires urgent action and it is not preventing or delaying Congress from making transformation investments for the people,” said the Democratic leader of the Congress.

Disney and Sony announce enormous film deal | Leisure

Disney and Sony Pictures have signed a deal to bring Spider-Man and other Marvel projects to Disney +.

The two studios have signed a huge movie licensing deal, with Sony’s Marvel properties arriving on the streaming platform from its release in 2022.

The deal – which applies only to the US – runs over Sony’s 2026 plan and also includes the studio’s titles on a number of Disney platforms, including Hulu, FX Networks, Disney Channels, ABC and Freeform.

Following Sony’s most recent output deal with Netflix, Disney’s agreement will land titles on the first, which will be roughly nine months after a movie hits theaters.

Sony is expected to raise approximately $ 3 billion in film licenses for the two agreements.

In a statement, Chuck Saftler, head of ABC, Freeform, FX Networks and Acquisitions for Disney’s Media and Entertainment Distribution, said: “This landmark multi-year, platform-independent agreement gives the Disney Media and Entertainment Distribution team tremendous flexibility and broad programming capabilities to bring Sony’s Use our rich selection of award-winning action and family films for our direct-to-consumer services and linear channels.

“This is a win for fans who will benefit from the ability to access the best content from two of Hollywood’s most prolific studios across a variety of viewing platforms and experiences.”

Keith Le Goy, President of Global Sales and Networks for Sony Pictures Entertainment added, “We are excited to partner with Disney in delivering our titles to their viewers and subscribers.

“This agreement cements a key element of our film distribution strategy, which is to maximize the value of each of our films by bringing them to consumers across the window with a variety of key partners.”

Anti-money Laundering Software program Market 2020 : Rising Demand for Monetary Information Mining Instruments to Handle Big Monetary Information to Drive Demand – KSU

The proliferation of machine learning (ML) in various fields is benefiting both consumers and businesses in the anti-money laundering software market. Stakeholders in the value chain increase their profits with the help of ML, as the new technology helps to recognize undiscovered patterns. Hence companies in the market for Anti-money laundering software develop solutions that are integrated with MI and cloud computing. For example, ACTICO, an end-to-end automation solutions company, developed an ML module based on the expertise of compliance managers and knowledge gained from data.

Companies in the anti-money laundering software market are increasingly researching the development of software with ML for integration into other functional modules. They are stepping up their efforts to develop solutions that meet government standards. Such advanced software systems are gaining visibility in banks and insurance companies as there is a growing need for software systems that can identify customers and transactions that pose a potential compliance risk.

Request a sample to get full insights into the Anti Money Laundering Software market

The need to eliminate false positives in transaction monitoring solutions is increasing the demand for software

The anti money laundering software market is expected to grow at a CAGR of ~13% during the forecast period. Since end users have high expectations of software systems, companies develop solutions with reliable detection of true suspicious cases. However, the rapid growth of the wire industry is challenging for money laundering software companies in the market that find it difficult to efficiently monitor and detect suspicious transactions. As a result, companies are intensifying research and development to develop software that eliminates the problem of false positives in surveillance and verification programs.

Transaction monitoring is one of the main drivers behind the robust growth of the anti-money laundering software market. Therefore, the transaction monitoring system product type segment is estimated to lead the anti-money laundering software market, and the global market is estimated to be worth ~$ 4.9 billion by 2027. Therefore, companies optimize their effectiveness in the secondary assessment of the transaction monitoring process.

Cloud-based delivery model helps with the immediate analysis of data sources

Cloud-based services are intended to conquer the market for software to combat money laundering and at the same time gain importance in the banking world. This is evident as the cloud-based delivery model is expected to take a huge leap in the market landscape. Therefore, compliance officers are increasingly using cloud-based services to improve the functionality of anti-money laundering software. In addition, cloud services help end users analyze data in different formats and from different applications. Since most of the data comes from outside the company, cloud-based services help harmonize the data and enable the compliance team to assess suspicious activity.

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On the other hand, AI is another trend that is seeing growth in the anti-money laundering software market. Because of the benefits of AI, end users are leveraging cloud-based and other advanced services that are rapidly changing. For this reason, companies are increasingly trying to introduce relevant data to analyze information from inside and outside the company.

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Optimized workflows set the pace for innovations in software

End users seek a streamlined approach to innovation in anti-money laundering software. They call for small pilot programs because money laundering compliance involves several moving parts. Compliance managers therefore identify areas where technological innovations could help develop a pilot project to test different theories. In order to be successful in pilot projects, companies in the anti-money laundering software market are increasingly sensitizing to balancing the results of the pilot project with earlier control strategies in the company’s history.

Banks, which are among the major end users of anti-money laundering software, fight financial crimes with low-cost and ML-based software solutions. This is evident as the retail banking market is projected to grow exponentially for anti-money laundering software. There is a growing demand for software systems that prevent financial crime. Increasing research and development has led to innovations in ML-based analytics solutions and RPA (Robot Process Automation) workflows.

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