UVeye, a pioneer in the development of automated vehicle inspection systems, and Amazon today announced the deployment of AVI (Automated Vehicle Inspection), an AI-powered system that automates most of the daily inspection process of delivery vehicles. AVI scans for and detects automotive issues, improving fleet maintenance and reducing downtime for Delivery Service Partners (DSPs), as well as improving safety for their drivers and the communities they serve. AVI will be deployed in Amazon delivery stations in the U.S., Canada, Germany and the U.K.

The system - which scans a vehicle in seconds as it drives through a tunnel of cameras and sensors - has been piloted at select Amazon delivery stations in the U.S. A study of the data shows that AVI finds more defects in hard-to-inspect places, such as damage to the vehicle undercarriage, or nails in the tire thread (35% of all issues stem from tires) than when that part of the inspection process was done manually. By automating part of the vehicle inspection process using computer vision and machine learning, AVI makes inspections faster, more accurate, systematic and objective. The data analysis also revealed that within weeks, the number of vehicle groundings dropped with improved maintenance of vehicles.

"Three years ago, we set out to adapt our technology to the particular needs of Amazon," said Amir Hever, co-founder and CEO of UVeye. "Each new feature and improvement has brought us closer to where we are today and we are so proud of the system, which is now being scaled to administer tens of millions of inspections a year."

"After a successful pilot program, we're looking forward to the deployment of AVI," said Tom Chempananical, Global Fleet Director, Amazon Logistics. "There are over 100,000 Amazon-branded delivery vehicles on the road, bringing 20 million packages to our customers every day. With AVI, we can automate most of the inspection process at scale, to help reduce time spent on this task by DSPs and Delivery Associates, get packages to customers faster, while improving safety on the road."

About UVeye

UVeye is the world's first fully automated suite of vehicle inspection systems. The company's AI-powered drive-thru systems can detect external or mechanical flaws and identify anomalies, modifications, or foreign objects under and around a vehicle within seconds. UVeye is installed at hundreds of dealerships, auction & fleet sites across the United States and around the world. In May 2023, the company announced a $100M Series D, bringing its total funding to $200M. UVeye is backed by, and partners with, some of the largest car manufacturers in America. More information at https://www.uveye.com/

ATTOM, a leading curator of land, property and real estate data, today released its third-quarter 2023 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales in the United States increased to 59 percent in the third quarter – the second straight quarterly increase following several declines.

The improvement in typical profit margins, from 56.6 percent in the second quarter of 2023, came amid a continued rebound in the U.S. housing market that pushed the median nationwide home price up 2 percent to a new high of $350,000. Both the nationwide profit margin and median home price have increased since an unusual decline from the middle of 2022 to the early part of 2023 that had threatened to reverse a decade-long market boom.

However, even as seller fortunes improved again in the third quarter, the typical investment return nationwide did remain below the 62 percent level recorded in the third quarter of 2022 and a high point of 62.3 percent in the second quarter of last year.

"Prices and profits around the U.S. got another boost over the Summer as the housing market continued recovering from last year's setbacks," said Rob Barber, chief executive officer for ATTOM. "Things do remain uncertain heading into the market's annual Fall slowdown, especially at a time when mortgage rates are rising again, home affordability is getting tougher and the potential for a recession hangs in the air. But the latest gains fell in line with what we often see during the third quarter and showed that any predictions of an extended market fallback may have been premature."

Gross profits on typical single-family home and condo sales across the country also went up during the third quarter of 2023. They rose 5 percent quarterly, to $129,900, and were up 3.2 percent annually.

The continued gains in profits and prices around the U.S., while representing typical growth for a third-quarter period, still came amid a mix of forces that could turn the market up or down over the coming months.

Both measures improved over the Summer as the supply of homes for sale in the U.S. remained historically low. That put upward pressure on prices, which, by extension, helped to push up profits. But mortgage rates started increasing again in the third quarter, rising toward an average of 8 percent for 30-year fixed loan following a stable second quarter. Consumer-price inflation also ticked back up after dropping dramatically over the prior year from 9 percent to 3 percent, while the stock market declined and the national unemployment rate rose close to 4 percent.

Profit margins grow quarterly in roughly half the country but remain down annually

Typical profit margins – the percent difference between median purchase and resale prices – increased from the second quarter of 2023 to the third quarter of 2023 in 85 (55 percent) of the 155 metropolitan statistical areas around the U.S. with sufficient data to analyze. However, they were still down annually in 103, or 66 percent, of those metros as the recent improvements were not enough to wipe out the earlier losses.

That happened as the third-quarter improvement in home prices outpaced smaller increases that recent sellers had been paying when they originally bought their homes. Larger gains at the point of resale translated into higher profit margins.

Metro areas were included if they had sufficient population and at least 1,000 single-family home and condo sales in the third quarter of 2023.

The biggest quarterly increases in typical profit margins came in the metro areas of Scranton, PA (margin up from 72.2 percent in the second quarter of 2023 to 92 percent in the third quarter of 2023); Reading, PA (up from 70.3 percent to 88.5 percent); Flint, MI (up from 66.7 percent to 84.6 percent); Evansville, IN (up from 32.9 percent to 45.9 percent) and Roanoke, VA (up from 44.4 percent to 56.3 percent).

The biggest quarterly profit-margin increases in metro areas with a population of at least 1 million in the third quarter of 2023 were in Birmingham, AL (return up from 41.2 percent to 50.9 percent); Buffalo, NY (up from 73.9 percent to 82.9 percent); Rochester, NY (up from 65.4 percent to 71.9 percent); Kansas City, MO (up from 44.5 percent to 50.2 percent) and Tucson, AZ (up from 59.1 percent to 64.8 percent).

Typical profit margins decreased quarterly in 70 of the 155 metro areas analyzed (45 percent). The biggest quarterly decreases were in Lake Havasu City, AZ (margin down from 101.7 percent in the second quarter of 2023 to 81.6 percent in the third quarter of 2023); Albany, NY (down from 44.8 percent to 27.4 percent); Naples, FL (down from 84.5 percent to 73.7 percent); Bakersfield, CA (down from 76.1 percent to 65.9 percent) and Tallahassee, FL (down from 73.8 percent to 63.6 percent).

The largest quarterly decreases in profit margins among metro areas with a population of at least 1 million came in San Jose, CA (down from 105.4 percent to 98.1 percent); Fresno, CA (down from 77.1 percent to 70.8 percent); Raleigh, NC (down from 61.9 percent to 56.3 percent); San Diego, CA (down from 78.7 percent to 73.8 percent) and Austin, TX (down from 50.3 percent to 45.5 percent).

Metro areas with a population of at least 1 million where typical profits remained down the most annually included Austin, TX (margin down from 68.8 percent in the third quarter of 2022 to 45.5 percent in the third quarter of 2023); Honolulu, HI (down from 69.9 percent to 50.6 percent); Phoenix, AZ (down from 80 percent to 61.9 percent); Raleigh, NC (down from 73.9 percent to 56.3 percent) and Nashville, TN (down from 84 percent to 68 percent).

Raw profits up in almost two-thirds of U.S.

Profits on median-priced home sales nationwide, measured in raw dollars, increased from $123,716 in the second quarter of 2023 to $129,900 in the third quarter, a 5 percent gain. Typical raw profits went up quarterly in 95, or 61 percent, of the metro areas analyzed for this report.

Measured annually, the typical nationwide raw profit also was up, by 3.2 percent, from $125,875 in the third quarter of 2022. The figure rose year over year in 54 percent of the markets analyzed.

The biggest quarterly raw-profit increases in areas with a population of at least 1 million were in Buffalo, NY (up 22 percent); New York, NY (up 15 percent); Birmingham, AL (up 13 percent); Rochester, NY (up 13 percent) and Kansas City, MO (up 11 percent).

On an annual basis, the largest improvements in raw profits on median-priced home sales among metros with a population of at least 1 million came in Hartford, CT (up 33 percent); Rochester, NY (up 24 percent); Chicago, IL (up 15 percent); Cincinnati, OH (up 13 percent) and Buffalo, NY (up 13 percent).

Eighteen of the top 20 largest raw profits on median-priced sales in the third quarter of 2023 were along the northeast or west coasts. They were led by San Jose, CA (profit of $718,000); San Francisco, CA ($485,000); San Diego, CA ($361.000); Los Angeles, CA ($347,233) and Seattle, WA ($331,938).

Nineteen of the smallest 20 raw profits were in the Midwest or South. The lowest were in Shreveport, LA ($2,744); Beaumont, TX ($24,312); Peoria, IL ($37,500); Lubbock, TX ($44,725) and McAllen, TX ($47,030).

Prices up in almost three-quarters of nation

Median single-family home and condo prices increased from the second to the third quarter of 2023 in 110 (71 percent) of the 155 metro areas around the country with enough data to analyze, and were up annually in 125 of those metros (81 percent).

Nationwide, the median home price rose to a new high of $350,000, up 2 percent over the previous record of $343,000 in the second quarter of 2023 and 6.1 percent from $329,900 in the third quarter of last year.

Metro areas with the biggest increases in median home prices from the second quarter of 2023 to the third quarter of 2023 were Buffalo, NY (up 14.7 percent); Scranton, PA (up 11.4 percent); Trenton, NJ (up 11.1 percent); New York, NY (up 9.9 percent) and Syracuse, NY (up 9.8 percent).

Aside from Buffalo and New York, the largest quarterly median-price increases in metro areas with a population of at least 1 million were in Detroit, MI (up 7.8 percent); Hartford, CT (up 6.3 percent) and Philadelphia, PA (up 6.3 percent).

Home prices tied or hit new highs during the third quarter of 2023 in 86, or 55 percent, of the 155 metro areas in the report. Metro areas with a population of more than 1 million that set or tied records in the third quarter included New York, NY; Chicago, IL; Philadelphia, PA; Miami, FL, and Atlanta, GA.

Metro areas with a population of at least 1 million where the median home price declined most from the second to the third quarter of 2023 included New Orleans, LA (down 5.2 percent); Indianapolis, IN, (down 4.6 percent); San Francisco, CA (down 4.4 percent); Austin, TX (down 4 percent) and Dallas, TX (down 3 percent).

The U.S. Virgin Islands (USVI) Department of Tourism and the New York Jets announce a new multi-year partnership. Commencing the 2023 season, the USVI will be the Official Caribbean Destination Partner for the team, collaborating through various fan-facing channels and events to promote year-round visitation to America's Caribbean.

"There's no better time than now to kick off this partnership between the U.S. Virgin Islands and the New York Jets," said Commissioner Joseph Boschulte, USVI Department of Tourism. "The New York Metropolitan area is one of our main feeder markets, and we could not pass on the opportunity to collaborate with this longstanding franchise to showcase the vibrancy and culture of our beloved islands."

Throughout the season, USVI will collaborate with the Jets organization to curate and integrate unique elements of Caribbean culture into gameday experiences for fans, sweepstakes, and giveaways.

"We could not be more thrilled to be partnering with our friends from the U.S. Virgin Island this season. We see great opportunity to unite our audiences and engage them in not only football but the vibrant culture of America's Caribbean islands," said Jeff Fernandez, Vice President, Business Development + Ventures. "Having this partnership continues our mission of impacting lives beyond New York and sharing the game of football across the globe."

The New York Jets and USVI celebrated the partnership launch in late July with a meeting at the franchise's Florham Park headquarters, where Commissioner Boschulte met with team leadership and former players during pre-season practice.

To learn more about the U.S. Virgin Islands and NY Jets partnership visit, https://www.newyorkjets.com/usvi.

A selection of business leaders, investors, entrepreneurs and creatives gathered in Southampton for the second annual Uncharted Summit. The event occurred at Michael and Marjorie Loeb's home on Meadow Lane in Southampton, NY on Friday, June 23rd. Uncharted consisted of a series of fireside chats, and organizers placed an emphasis on informal connections and networking amongst high caliber entrepreneurs and investors.

"I am once again thrilled to have gathered such a diverse selection of accomplished individuals in a special environment that fosters an exchange of ideas in a purposefully unimpeded and relaxed fashion," said Michael Loeb, event co-host, serial entrepreneur and founder of Loeb.nyc. "It's quite powerful to see this caliber of audience having such personal and intimate conversations. It's amazing to see young leaders casually chatting with established CEOs, investors, and noted champions from the world of professional sports."

Sponsored by Lürssen Yachts, Whistler Partners and ten other organizations, Uncharted 2023 built on the success of last year's inaugural summit to deliver a unique, one-day forum for great minds to connect and share the unique paths they're taking and have taken to achieve success in their varied endeavors. The event is an extension and larger expression of an ongoing and exclusive dinner series created in 2021 by Noah Friedman and Michael Loeb. Friedman has also created the Uncharted Podcast, which provides unfettered access to and insight from leading minds.

Friedman said: "Our ambition with Uncharted is to foster collaboration on the highest scale by providing a forum for authentic and intentional connection. Those who joined us in Southampton this year were able to meet world class movers and shakers, to reconnect with old friends and, importantly, meet new ones. My sincere hope is that we have a positive impact on attendees' careers, business models and spirits overall."

While networking opportunities centered around drinks and gourmet food presentations abound at Uncharted, the event also features a selection of panel discussions. Among this years speakers and topics were:

Investing in a Changing World – A discussion between Sallie Krawchek, CEO of ElleVest, Mike Ryan, Divisional Vice Chairman of UBS, and Marlon Nichols, Managing General Partner of MaC Ventures.

A Fireside Chat with Dan Doctoroff – Norm Pearlstine, the former Executive Editor of the LA Times, allowed Doctoroff to explain the creation and activities of Target ALS, a ground breaking organization that is funding and accelerating research into ALS with an unabashed aim at ending the disease once and for all.

The AI Revolution: Friend or Foe? – Led by CNBC's Ron Insana, this panel explored AI with input from Whistler Partner's Sean Burke, HF0's Founder Dave Fontenot, Google's Global Strategy Lead for Responsible Innovation X. Eyeé, and Mike Steep the Executive Director of Stanford Disruptive Technology and Digital Cities Program.

The Ingenuity of the Digital Future – A discussion led by CoinDesk's Michael Casey that included input from Alex Blania the Co-Founder/CEO of Worldcoin, Lucy Guo the Co-Founder of ScaleAI, Mo Shaikh the Co-Founder & CEO of Aptos, and Olaf Carlsson-Wee the Co-Founder & CEO of Polychain.

Take Two: The Second Act of Careers – This exploration of how highly accomplished individuals are charting a new course was led by Joanne Lipman, former Chief Editor of USA Today. It featured Rob Gronkowski, former NFL star and now owner of Ice Shaker & Gronk Fitness, Gordon Gronkowski, owner of G&G Fitness and co-owner of Gronk Fitness, and Stacy London, the co-host of What Not to Wear.

A Fireside Chat between Shaquille O'Neal and Tim Hamilton – This entertaining discussion gave attendees insight into the NBA star's career and investment philosophy. Hamilton was able to shed light on the business of super yachts and how Lürssen Yachts maintains its leadership position in the rarified world of mega and giga yachts.

A forthcoming episode of the Uncharted Podcast will feature a number of discussions and highlights from this year's Uncharted. For additional information visit joinuncharted.com.