All U.S. Executives Spot Potential Risks in AI

By Staff
Wednesday, May 18, 2022 9:00 AM In the U.S., 56 percent of executives believe AI technology comes with either significant or somewhat significant potential risk. Another 19 percent view the risk as moderate, while 26 percent think the threat is minimal. No executive surveyed believes AI is entirely without risk.

Executives name cybersecurity as the No. 1 AI-related risk to their organization, but they may be missing the very real threat of algorithmic bias. Most U.S. companies use AI for hiring and people management, but 39 percent of executives said no one at their company is responsible for identifying implicit bias in the tech. 

Meanwhile, 38 percent report their corporate board isn’t fully aware of how the company uses AI, likely exacerbating blind spots about the risks involved.

The National Average for Gross Revenue at ECP Locations Decreased for the Week of May 9-15, Jobson’s Latest Practice Performance Tracker Shows

By Staff
Wednesday, May 18, 2022 12:27 AM NEW YORK—The national average for gross revenue at ECP locations decreased last week, May 9-15, at a rate of -2 index points. That places gross revenue at a level 7 index points above where it was at this point in time (week 20) when compared with last year and 12 points above 2019. Gross revenue during Week 20 of 2020 was 42 index points below Week 20 of this year at a level of 68 index points, as it continued to gradually emerge from the pandemic-related low of 14 index points it had reached during Week 15 of 2020, according to Jobson’s most recent Practice Performance Tracker.

The Vision Council Releases Provider inSights Q1 2022 Report

By Staff
Wednesday, May 18, 2022 12:24 AM ALEXANDRIA, Va.—The Vision Council today releases the Provider inSights Q1 2022 Report. The publication of the report continues the rollout of The Vision Council’s new inSights Research Program.

SD Eyes to Take on Exclusive Distribution of The C-Zone Collections in the U.S.

By Staff
Wednesday, May 18, 2022 12:21 AM ONEONTA, N.Y.—SD Eyes is the new distributor of The C-Zone Collections in the U.S., according to executives of both companies. Starting in June this year, eyecare professionals will be able to buy the contemporary Netherlands-based company's metal collections with unique color accents exclusively from SD Eyes.

Are You a Top 50 U.S. Retailer? Submissions Still Being Accepted for VM's Annual Top 50 U.S. Optical Retailers Report

By Staff
Wednesday, May 18, 2022 12:18 AM NEW YORK—Vision Monday will be publishing its signature Annual Top 50 U.S. Optical Retailers Report in its upcoming June print/digital edition. A link to the survey is posted here.

Modo and Eco Win iF Design Awards

By Staff
Wednesday, May 18, 2022 12:15 AM NEW YORK—Modo Eyewear and Eco Eyewear have taken home 2022 iF Design Awards, one for Modo’s R1000 + Titanium with Snap Hinge and one for Eco’s Biobased Optical Collection. Founded in 1953, the iF Design Awards are judged by a panel of 132 high profile design experts from over 20 countries with the goal of finding and awarding "submissions with the greatest innovative power." The Eco Biobased Optical Collection includes a magnetic sun clip with the magnet integrated into the bio-based material and then hidden from view using gradient coloring a continuation of the temple. The frames are crafted using a bio-based material derived from sustainable non-GMO castor seed oil.

FYidoctors Named One of Canada’s Best Managed Companies

By Staff
Wednesday, May 18, 2022 12:02 AM FYidoctors was recognized for overall business performance and sustained growth with the prestigious Canada’s Best Managed Companies designation. The 2022 Best Managed program award winners are amongst the best-in-class of Canadian-owned and managed companies.

Smart Traffic Management Systems to Save 205 Million Metric Tons of CO2 by 2027

By Staff
Tuesday, May 17, 2022 12:21 PM A new study from Juniper Research has predicted that global savings in CO2 emissions from smart traffic management systems will be 205 MMT (Million Metric Tons) by 2027; a growth of 41 percent, up from just 145.7 MMT in 2022. This significant saving will be equal to almost twice the CO2 emissions arising from UK domestic transport in 2019. Reducing congestion through optimized traffic control will be the main influencing factor.

Sunbit’s BNPL Approach Is a Fast Credit Check to Create New Flex Pay Options

By Marge Axelrad
Tuesday, May 17, 2022 12:58 AM LOS ANGELES—Part of the modern patient experience in health care and at retail is to help patients and consumers better understand the value of their services and purchases and also to minimize friction in the payment process. Sunbit’s buy now, pay later technology (BNPL), reflecting a broad trend in flexible payment options for consumers, has been widening its involvement with both independent eyecare practices and optical retailers along with multi-location clients.

Warby Parker Reports 10 Percent Increase in Q1 Sales as ‘Active’ Customer Count Climbs 18 Percent, But Net Loss Also Widens

By Staff
Tuesday, May 17, 2022 12:27 AM NEW YORK—Against a backdrop of disruption due to the Omicron variant that was first felt in the last weeks of December and continuing through the first quarter, Warby Parker Inc. (NYSE: WRBY) on Monday reported that its Q1 revenue rose 10.3 percent to $153.2 million as both active customer count and average revenue per customer increased also in the quarter ended March 31. However, the retailer's net loss totaled $34.1 million in the quarter, primarily as a result of an increase in SG&A (selling, general and administrative) expenses, according to its announcement.

Alcon Celebrates 75th Anniversary and Notes its History of Breakthrough Innovation in Eyecare

By Staff
Tuesday, May 17, 2022 12:24 AM GENEVA—On Monday, Alcon marked the company’s 75th anniversary with its “Brilliant History, Brilliant Future” celebration. On May 16, 1947, Alcon Laboratories Inc. was incorporated and began manufacturing specialty pharmaceutical products in Fort Worth, Texas, the company noted in its announcement.

Visionix and Right MFG Enter Long-Term Strategic Partnership

By Staff
Tuesday, May 17, 2022 12:21 AM PARIS—Visionix and Right MFG. Co., Ltd. announced yesterday that they have entered a long-term strategic partnership agreement, expected to accelerate growth for both companies. Visionix will become the exclusive partner of Right MFG, and distribute Righton products in Europe, the Americas and Asia Pacific (excluding Japan and China).

Do You Know an Influential Woman in Optical? Nominate Her Now for Vision Monday's Special Report

By Staff
Tuesday, May 17, 2022 12:13 AM NEW YORK—This year marks the 20th anniversary of Vision Monday's Most Influential Women in Optical Report. The signature Special Report will salute women playing vital roles at all levels of the eyewear/eyecare industry and throughout the professions. Women continue to make significant contributions throughout retailing, wholesaling, product design, manufacturing, distribution, the eyecare professions, academia and managed care. Don't miss our very special July/August issue where we will celebrate 20 years of honoring women and their achievements.

Indice Has Won the BeStore Design Award

By Staff
Tuesday, May 17, 2022 12:02 AM BeStore is the competition held by Mido to select the best eyewear stores worldwide. Here, WMIDO meets with Giovanni Comotti and Nicolò Plebani, owners of the winning store in the design category: ‘Indice’ of Cortina D’Ampezzo, Italy.

Smart Buildings Are on the Rise

By Staff
Monday, May 16, 2022 11:55 AM The number of smart buildings worldwide is projected to climb from 45 million this year to 115 million in 2026, according to a recent post in eMarketer’s Insider Intelligence newsletter. That’s an increase of more than 150 percent, as demand grows for secure, energy-efficient developments. About 90 percent of smart building spending will go to nonresidential properties in 2026, as eMarketer’s Sara Lebow pointed out.