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KPMG: Tech executives double down on AI, talent, and adaptive strategies to lead in the Intelligence Age
- 68 percent of organizations surveyed aim to reach the highest level of AI maturity by the end of 2026, yet only 24 percent are there today.
- 88 percent are investing in building agentic AI into their systems.
- 74 percent say their AI use cases are delivering business value, but only 24 percent achieve ROI across multiple use cases.
- 90 percent plan to grow partnerships and tech ecosystems over the next year, yet 53 percent still lack the talent needed to bring their digital transformation plans to life.
- 78 percent agree they must take more risks on emerging technologies to stay relevant.
The report asks: Can ambition match reality, and can organizations keep one eye on the next wave of innovation while delivering on today’s agenda?
“The future belongs to leaders who turn intelligence into advantage. Our research shows organizations are pushing past the early phase of ‘AI roulette’, placing scattered bets on multiple technologies, and are now increasingly focused on delivering value. When ambition meets disciplined execution, value compounds. Our 2026 Global tech report provides a synopsis of the critical things that high performers are doing better than most; a checklist for tech leaders looking to improve their organizational performance, emulate the high performers, and deliver higher ROI.
— Guy Holland, Global Leader, CIO Center of Excellence, KPMG International
Key findings from the report
Tech maturity accelerates: Leaders set their sights on the top
Half (50 percent) of global tech leaders surveyed expect to reach the highest level of technology maturity in 2026, compared to only 11 percent today. This surge in optimism is fueled by a move from isolated experiments to integrating AI and advanced technologies into core systems and scaling their impact.High performers, those organizations leading in technology maturity, process maturity and value, are already reaping the rewards, reporting an average ROI of 4.5x, more than double the industry average of 2x. These leading organizations have progressed beyond pilot programs, prioritizing the scaling of innovation and continually adapting to maintain a competitive edge in a fast-evolving environment. Other organizations reporting higher ROI include smaller firms (3.6x), those with fewer cost pressures (2.6x), and transformation‑focused organizations (3.2x). The ROI pattern is equally nuanced: rather than a single investment ‘sweet spot’, clear ROI ‘zones’ emerge, from early quick wins to accelerating, enterprise‑wide value as maturity increases.
The age of agentic: AI adoption surges but innovation drives real business value
AI is now seen as a strategic necessity, not just industry hype. Sixty-eight percent of respondents are aiming for the highest level of AI maturity in their organizations. Eighty-eight percent of companies are already investing in agentic AI — autonomous digital agents transforming operations and decision-making. Seventy-four percent of respondents report that their AI initiatives are creating measurable business value, such as improved efficiency and reduced risk. However, only 24 percent say they are scaling AI and achieving ROI across multiple use cases. This highlights the need for organizations to evolve KPIs beyond traditional financial and productivity metrics and build enterprise-wide alignment to fully realize AI’s potential. The shift from AI experimentation to large-scale deployment is underway, with leaders working to embed AI into products, services, and value delivery.
Talent and agility power success: Human potential remains central
Human expertise remains central to digital transformation initiatives. Organizations are making significant investments in upskilling their workforce, building adaptive teams, and fostering cultures that embrace change.
Despite the rapid adoption of agentic AI, organizations still expect 42 percent of their tech workforce to remain permanent human staff by 2027 — only a five‑point drop from 2025. High-performing companies plan to retain even more permanent human talent, with 50 percent remaining in place by 2027, revealing the continued importance of human expertise alongside AI. Despite these efforts, 53 percent of organizations report they still lack the talent needed to realize their digital transformation strategies.
Ninety-two percent of organizations surveyed anticipate that managing AI agents will become a critical skill within five years. The most successful organizations prioritize both technological advancements and people, empowering employees to innovate and adapt.
Strategic partnerships fuel growth: Ecosystems expand for the future
To overcome challenges and accelerate learning, 90 percent of organizations plan to grow partnerships and tech ecosystems over the next year. Strategic alliances are enabling access to specialized expertise, rapid innovation, and shared best practices. As agentic AI and other advanced technologies become mainstream, organizations recognize the importance of building robust ecosystems that foster co-creation and continuous improvement. Nearly one-third of tech executives are planning to increase investment in centers of excellence, supporting cross-functional teams and controlled experimentation.
Preparing for tomorrow’s breakthroughs: Leaders embrace bold risks
The future is arriving fast, with quantum computing and Artificial Superintelligence (ASI) on the horizon. Leaders are already preparing for these breakthroughs, with 78 percent of organizations agreeing they must take more risks on emerging technologies to stay relevant. The report urges organizations to maintain strategic foresight, invest in ethical frameworks, and build resilient, future-ready workforces. By balancing ambition with rational thinking and disciplined execution, tech executives are positioning their organizations to turn disruption into durable, compounding value.
About research
The KPMG Global tech report 2026, “Leading in the Intelligence Age: Excelling today, shaping tomorrow,” is based on a survey of 2,500 executives from 27 countries and territories):
- 29 percent from Asia Pacific
- 43 percent from Europe, Middle East and Africa (EMEA)
- 28 percent from the Americas
Respondents represent eight industries: automotive, consumer and retail, energy, financial services, government, healthcare and life sciences, industrial manufacturing, and technology and telecommunications. In addition to the survey, the report is enriched by interviews with eight senior corporate leaders and professionals, delivering actionable insights to help organizations excel today while shaping the future.
Download the report here.
Hashtag: #KPMG
The issuer is solely responsible for the content of this announcement.
About KPMG
KPMG in China has offices located in 31 cities with over 14,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. It started operations in Hong Kong in 1945. In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. In 2012, KPMG became the first among the “Big Four” in the Chinese Mainland to convert from a joint venture to a special general partnership.
KPMG is a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organisation or to one or more member firms collectively.
KPMG firms operate in 138 countries and territories with more than 276,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.
Media OutReach
SIM: Developing Entrepreneurial Talent Through Higher Education for Future-Ready Business Leader
Higher education institutions play a key role in supporting this development by providing students with opportunities to build both foundational knowledge and specialised expertise. Through collaborations with international university partners, SIM Global Education (SIM GE) offers a range of academic pathways across business, management, analytics, marketing and related disciplines that can support students with entrepreneurial aspirations.
Understanding the Educational Choices Available
The growing variety of higher education options presents both opportunities and challenges for students. While many may have an interest in entrepreneurship or business, determining the most suitable academic pathway is often less straightforward.
Entrepreneurship today extends beyond the traditional concept of starting a business. It can encompass leading innovation within established organisations, developing new products and services, scaling family-owned enterprises, creating social ventures, or participating in emerging start-up ecosystems. As a result, students are increasingly seeking educational pathways that align with their individual interests, strengths and long-term goals.
A well-informed educational choice can help students develop the competencies most relevant to their intended career direction, whether that involves business leadership, digital innovation, market expansion or social impact.
Building a Foundation Through Business Education
A business-related degree can provide aspiring entrepreneurs with a broad understanding of how organisations operate. Entrepreneurs need to understand markets, customers, finance, operations, competition and strategy. They also need to make decisions with limited resources and adapt quickly when business conditions change.
At SIM GE, business-related programmes allow students to explore fields such as analytics, strategy, marketing and management. These areas are relevant to students who want to develop a practical understanding of how businesses are built, managed and grown.
For students who are still exploring their future direction, a business pathway can provide flexibility. It can prepare them for employment, support future postgraduate or professional learning, and build a foundation that may later be applied to entrepreneurial ventures.
Management programmes for future leaders and founders
Entrepreneurship is often associated with ideas, innovation and opportunity. However, successful ventures also depend on effective management. Founders must lead people, manage resources, build processes, work with partners and make decisions that affect the long-term sustainability of the business.
Management-focused programmes are therefore especially relevant for students who want to understand how organisations are led and how teams work together. Such programmes can help learners develop perspectives on leadership, planning, decision-making and organisational effectiveness.
For future entrepreneurs, management knowledge is important because a strong idea must eventually be supported by the ability to execute. Whether students later start their own businesses or lead innovation within existing organisations, management capabilities can help them turn ambition into action.
The Growing Importance of Data and Analytics
As organisations become increasingly data-driven, analytical capabilities have become a valuable component of entrepreneurial decision-making. Entrepreneurs are expected to evaluate market opportunities, understand customer behaviour and assess business performance using data and technology.
Analytics-related programmes can help students develop these capabilities, enabling them to make more informed decisions and respond effectively to changing business conditions. Such skills are particularly relevant for those interested in digital business, e-commerce, technology ventures and business intelligence.
Marketing and international business for market-ready ventures
A strong business idea also needs a clear target market and a business strategy to back it up . Students who are interested in brand-building, customer engagement, communications or market expansion may benefit from marketing and international business-related pathways.
Marketing-focused learning can help students understand consumer behaviour, positioning, customer experience and value creation. International business exposure can help students think beyond a single market, especially in a region such as Southeast Asia where businesses often need to understand cross-border opportunities.
For future entrepreneurs, these perspectives can support the development of ventures that are customer-focused, market-aware and better prepared for regional or global growth.
Entrepreneurship and Social Impact
Entrepreneurship is increasingly being viewed through a broader lens that includes social and environmental outcomes. Alongside commercial objectives, many entrepreneurs are seeking to address societal challenges and contribute to sustainable development.
Initiatives such as the Dr Richard K M Eu – SIM Social Entrepreneurship Centre reflect the growing interest in social innovation and impact-driven enterprise. Exposure to these concepts can help students explore how entrepreneurial thinking can be applied to create sustainable solutions for communities and society.
Preparing for the Future
While there is no single educational pathway that guarantees entrepreneurial success, the most appropriate route depends on an individual’s interests, strengths and aspirations. However, regardless of specialisation, future entrepreneurs will require a combination of technical knowledge, critical thinking, adaptability, leadership and communication skills.
As Singapore continues to strengthen its position as a hub for enterprise, innovation and regional business activity, education remains an important foundation for entrepreneurial development. By providing access to diverse academic pathways and internationally recognised programmes, institutions such as SIM GE support students in making informed decisions and developing the capabilities needed to navigate an increasingly complex and dynamic business environment.
For many aspiring entrepreneurs, the journey begins not with the launch of a venture, but with the educational choices that help shape future opportunities.
References
- SIM GE University Partners – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge
- SIM Global Education – https://www.sim.edu.sg/degrees-diplomas/overview
- SIM GE Business Programmes – https://www.sim.edu.sg/degrees-diplomas/programmes/disciplines/business
- SIM GE Management Programmes – https://www.sim.edu.sg/degrees-diplomas/programmes/disciplines/business/management
- SIM GE Business Analytics Programmes – https://www.sim.edu.sg/degrees-diplomas/programmes/disciplines/business/business-analytics
- SIM Social Entrepreneurship Centre – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/ressec
- The Future of Job 2025 Report – https://www.weforum.org/publications/the-future-of-jobs-report-2025/digest/
- SkillsFuture Critical Core Skills – https://jobsandskills.skillsfuture.gov.sg/frameworks/critical-core-skills
- Singapore Ranks 4th Global Startup Ecosystem – https://www.enterprisesg.gov.sg/-/media/esg/files/media-centre/media-releases/2025/may/mr02125_singapore_ranks_as_4th_best_global_startup_ecosystem.pdf
Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills
The issuer is solely responsible for the content of this announcement.
About SIM Global Education
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 17,000 full- and part-time students and adult learners, of which approximately 41% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit www.sim.edu.sg
Harnessing Innovative Technologies to Drive Cultural Mobility and Foster Global Exchange
HONG KONG SAR – Media OutReach Newswire – 16 June 2026 – The Hong Kong University of Science and Technology (HKUST), in collaboration with the Center for Metaverse and Computational Creativity at HKUST(Guangzhou), presents the SURREALITY Mixed Reality (MR) × Artificial Intelligence (AI) Digital Art Cross-City Exhibition. As part of HKUST’s 35th-anniversary celebrations, an exclusive media preview of the world’s first large-scale, cross-regional MR × AI digital art exhibition was held at the University’s Clear Water Bay campus.
Showcasing selected works by renowned international and Chinese Mainland digital artists, as well as faculty and students from both campuses, the exhibition integrates creativity with Virtual Reality (VR), MR, and AI technologies. It transforms the campus into a global hub for arts innovation and technological excellence.
The exhibition will open at HKUST(GZ) tomorrow and run through July 31, 2026, before returning to Hong Kong for public engagement. This exhibition exemplifies HKUST’s visionary commitment to driving cultural mobility and fostering international exchange through innovative technologies.
Prof. Nancy IP, President of HKUST, remarked, “This event signifies a major milestone for HKUST in its pursuit of integrating technology, humanities, and cross-regional innovation. The national 15th Five-Year Plan released this year explicitly supports Hong Kong in deepening its development as the East-meets-West centre for international cultural exchange. In 2024, the HKSAR Government also introduced the Blueprint for Arts and Culture and Creative Industries Development, outlining plans to develop diverse arts and culture industries with an international perspective, and to establish international platforms that foster East-meets-West arts and cultural exchanges. Local universities play a pivotal role in advancing these initiatives.”
“HKUST’s Strategic Plan 2031 identifies the integration of innovation and the humanities as a key direction for the University’s future development. In line with this vision, we established Hong Kong’s first Division of Arts and Machine Creativity, which is committed to creating an innovative platform that fosters the fusion of technology and art while nurturing a new generation of creative talent with strong interdisciplinary perspectives. Hosting initiatives such as SURREALITY and the HKUST AI Film Festival exemplifies this direction and is poised to develop into prominent international platforms that fosters arts and cultural exchanges between China and the rest of the world,” she added.
Prof. Lionel NI Ming-Shuan, President of HKUST(GZ), stated, “‘SURREALITY’ is not only the world’s first large-scale MR × AI art exhibition, but also a powerful showcase of the strengths of HKUST and HKUST(GZ) in interdisciplinary studies and computational creativity. As a flagship initiative under the ‘One HKUST, Complementary Campuses’ framework, the two campuses have welcomed artists and young creators from 23 countries and regions, redefining the boundaries of knowledge production and artistic expression through the seamless fusion of the virtual and the real. At a time when the nation is strategically advancing future industries and the Greater Bay Area is accelerating the development of new quality productive forces, the digital ‘Portal’ connecting Clear Water Bay and Nansha represents far more than a technological breakthrough—it embodies a forward-looking model of educational collaboration, where engineering converges with aesthetics, algorithms with poetry, and global vision with local engagement. At thirty-five years old, HKUST remains youthful and dynamic. Guided by this founding aspiration, HKUST(GZ) will continue to advance in step with HKUST, writing a new chapter of integrated innovation and talent development in the Greater Bay Area.”
SURREALITY showcases the integration of AI-generated artworks with the physical campus environment, creating an immersive experience through spatial computing and real-time rendering technologies. Across the two campuses, nearly 50 works by more than 70 digital artists from the United States, Germany, Russia, Australia, Bolivia, Singapore, Korea, the Chinese Mainland, and Hong Kong are featured. Presented in innovative and striking forms, these exceptional works from around the world highlight HKUST’s strong commitment to advancing interdisciplinary integration.
Today, 19 selected works premiered at the Clear Water Bay campus, where MR-enhanced creations transform the HKUST campus into an immersive, technology-driven art space. By wearing MR headsets, visitors can freely explore three exhibition areas: Living Currents, Future Fables, and Beyond Mind. Several projects created by HKUST(GZ) faculty and students stand out as highlights, with The Gate—built on a metaverse concept—emerging as the centerpiece of the exhibition. As the armillary sphere slowly turns and the portal comes into view, visitors can step inside and instantly traverse the virtual spaces of both campuses, experiencing a groundbreaking sense of cross‑campus, seamless connectivity that embodies the vision of “One HKUST, Complementary Campuses.” Another featured work, Kunpeng, symbolizes a spirit of boundless freedom. A giant fish leaps from the nearby Port Shelter in Sai Kung and transforms into a soaring roc that ascends powerfully into the sky. Its majestic presence delivers a striking visual spectacle. The piece The Twinworld Tree creates a dynamic living system formed by the World Tree and virtual life, symbolizing the interdependence of all things, like the tides.
The exhibition also features an MR recreation of a classic work—GFP Bunny, created by internationally acclaimed contemporary artist, Prof. Eduardo KAC, who is also Professor of Art and Technology Studies at the School of the Art Institute of Chicago. Since its debut, this piece has sparked global reflection on genetic modification, bioethics, and the boundaries of art. Mr. ZHANG Yishuai, a PhD student in the Thrust of Computational Media and Arts at HKUST(GZ) and a computational artist, presents Echoes of Earth 2.0, offering a forward-looking perspective on AI and interstellar civilizations. This work enriches the exhibition with a visionary reflection on humanity’s aspirations for the future.
Several VR digital art pieces are also on display, including Astra, created by Ms. Eliza MCNITT— Venice Immersive Grand Prize winner and renowned American writer and director—which offers visitors a unique journey of exploration into the universe. Mr. Benedict YU, a VR visual artist from Singapore, presents Mother’s Body Remembers, utilizing LiDAR to capture movements and combining VR with tactile interaction to rekindle visitors’ memories of family connections. The HKUST XRIM Lab‘s work, Unfolding Touch, enables a soft-robot-mediated handshake between the Clear Water Bay and Guangzhou campuses, integrating sensing and tactile replication to create a shared touch experience across distance. Other works include My Flower, which invites viewers to experience the daily challenges faced by people with Alzheimer’s disease. A short animation, The Cat Ghost, which narrates the relationship between ancient Chinese people and cats from the Western world, is also screened.
Prof. Pan HUI, Chair Professor of Emerging Interdisciplinary Areas at HKUST, Acting Head and Chair Professor of the Thrust of Computational Media and Arts, and Director of the Center for Metaverse and Computational Creativity at HKUST(GZ), introduced the core concept of “SURREALITY.” He explained that as technologies such as AI, spatial computing, and MR rapidly evolve, digital worlds are transcending screens into real spaces and becoming deeply integrated into people’s daily life. SURREALITY explores a new form of reality that may emerge in the future—a scenario where the virtual and the physical are no longer distinctly separate but collectively form the environments in which we perceive, interact, and live. Through artistic creation and immersive experiences, the exhibition offers audiences a glimpse into this transformative vision, prompting reflection on how technology is reshaping humanity’s understanding of reality.
The exhibited works come from numerous internationally renowned artists, showcasing the remarkable fusion of creative arts and digital technology. Several prominent participating artists also joined today’s event to introduce their works, fostering cross-regional cultural and arts exchanges. They include Prof. Benjamin SEIDE, media artist, VFX expert, and Associate Professor in the School of Art, Design and Media at Nanyang Technological University; Ms. Katerina SEMENKO, a Russian conceptual phygital artist and International Design Award recipient; and Dr. Adam NASH, an Australian digital virtual artist and Honorary Fellow of RMIT University.
Hashtag: #HKUST #HKUST(GZ)
The issuer is solely responsible for the content of this announcement.
About The Hong Kong University of Science and Technology
The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk/) is a world-class university known for its innovative education, research excellence, and impactful knowledge transfer. With a holistic and interdisciplinary pedagogy approach, HKUST was ranked 6th in the QS Asia University Rankings 2026, 3rd in the Times Higher Education’s Young University Rankings 2024, and 19th globally and 1st in Hong Kong in the Times Higher Education’s Impact Rankings 2025. Eleven HKUST subjects were ranked among the world’s top 50 in the QS World University Rankings by Subject 2026. In addition, in the Times Higher Education World University Rankings by Subject 2026, HKUST’s Computer Science discipline which encompasses areas such as artificial intelligence and machine learning, has been ranked No. 1 in Hong Kong for ten consecutive years. Our graduates are highly competitive, consistently ranking among the world’s top 30 most sought-after employees. In terms of research and entrepreneurship, over 80% of our work was rated “internationally excellent” or “world leading” in the Research Assessment Exercise 2020 of the Hong Kong’s University Grants Committee. As of May 2026, HKUST members have founded over 1,900 active start-ups, including 11 Unicorns and 22 exits (IPO or M&A).
According to Fortune, Vinachem ranked 148 among Southeast Asia’s 500 largest companies in 2026. This marks the third year that Fortune has published the Southeast Asia 500 ranking, recognizing companies that demonstrate scale, operational excellence, and significant contributions to regional economic development. The list ranks companies based on total revenue across seven countries in the region, including Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
Based on Fortune’s report, Vinachem recorded revenue of USD 2.332 billion and profit of USD 103.8 million in 2025. These results reflect the Group’s solid financial foundation, resilience in responding to market fluctuations, and the effectiveness of its restructuring and productivity improvement efforts across the organization.
Mr. Nguyen Huu Tu, Chief Executive Officer of Vietnam National Chemical Group (Vinachem), said:”Vinachem’s inclusion in the Fortune Southeast Asia 500 ranking as early as 2026 represents a significant milestone in the Group’s development journey. It is a tangible outcome of our determined efforts to implement the directives set forth by the Politburo in Resolution No. 79-NQ/TW dated January 6, 2026, which aims to have 50 state-owned enterprises ranked among Southeast Asia’s 500 largest companies by 2030.
This recognition not only acknowledges the efforts of nearly 20,000 employees, engineers, and workers across Vinachem in driving innovation, transformation, and sustainable development, but also reflects the growing competitiveness of Vietnamese industrial enterprises in the regional integration process.
The achievement provides further momentum for Vinachem to accelerate innovation, digital transformation, green transition, and the development of high-tech industries. At the same time, it reinforces our commitment to fulfilling our role as a core enterprise of Vietnam’s chemical industry and contributing to the goal of building large-scale, efficient, and internationally competitive state-owned economic groups in line with the spirit of Politburo Resolution No. 79-NQ/TW.”
The development of the VinachemMart e-commerce platform and the launch of the Vinachem Agriculture platform represent concrete steps in implementing this strategy. While VinachemMart contributes to advancing digital commerce and strengthening market connectivity, Vinachem Agriculture seeks to connect farmers with scientists, experts, businesses, and government agencies, thereby improving the efficiency of the agricultural value chain and promoting green and sustainable agricultural development.
Looking ahead, Vinachem has identified innovation, digital transformation, green transition, and sustainable development as its key growth drivers. The Group is prioritizing investment in high-value, technology-intensive sectors, including pharmaceutical chemicals, advanced materials, chemicals serving the electronics and semiconductor industries, rare-earth extraction and processing, and circular economy initiatives. In parallel, Vinachem is investing in research and development (R&D) centers and integrated industrial parks designed around modern, circular, and sustainable principles, contributing to the enhanced competitiveness of Vietnam’s chemical industry within regional and global value chains.
Vinachem’s inclusion in the Fortune Southeast Asia 500 reflects not only the Group’s scale and financial strength, but also the progress achieved through its transformation, international integration, and efforts to elevate the standing of Vietnam’s chemical industry. This recognition provides a solid foundation for the Group to continue fulfilling its role as a leading enterprise, contributing to national industrial development and strengthening the presence of Vietnamese enterprises on the regional economic stage.
Hashtag: #Vinachem
The issuer is solely responsible for the content of this announcement.
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