TORONTO – (BUSINESS WIRE) – Deepspatial Inc. (CSE: DSAI) (“Deepspatial” or the “Company”) is pleased to announce that it has patent application number 63244524 – Computer Implemented Method and System for Retail Management and Optimization, with US Patent and Trademark Office (USPTO) for its proprietary methods of retail management with enhanced user experience for dynamic planning and decision making.
Advances in information technology have revolutionized the e-commerce and retail landscape. As digital transformations enrich and improve existing businesses, retail businesses face new expansion limits and a new restriction – location. As companies adopt omni-channel strategies to create value, traditional retail must adapt to find new solutions in order to be successful. In 2019, US retailers announced over 9,000 store closures. In 2020, the outbreak of the current pandemic only exacerbated the problem. Optimizing inventory management, pricing, supply chain, customer sentiment in existing locations, as well as identifying new markets and identifying stores to close are unique challenges that need to be addressed in the retail segment.
The patented technology is a complete solution that addresses all vulnerabilities encountered in retail and uses Deepspatial’s proprietary algorithms with artificial intelligence (AI) in conjunction with the company’s own data sets and customer data. specific to make critical business decisions.
Key features of the retail management platform include inventory optimization, ecommerce optimization, new location identification and evaluation, customer persona goals, recommended prices, trend prediction and more. By combining proprietary, public, and customer records, as well as social media sentiment analysis to capture consumer and customer prospects, Deepspatial’s artificial intelligence and machine learning engine determines the current state and predicts the future state for users to deliver critical results, Business decisions.
Dr. Rahul Kushwah, CEO, says, “By bringing the data together, our AI and ML engine can provide insights and predictions that are visualized on a map for an easy understanding of the operational and competitive landscape. This gives companies the advantage of better understanding the current situation and what is in store for them, and gives them the confidence to make decisions that will save money, increase efficiency, increase sales and take the lead in high-quality markets. ”
Dr. Kushwah appeared at Proactive Media to speak about the company and its patent application.
The company has agreed to issue a consultant 100,000 common shares of the company at a price of $ 0.145 per common share in compensation under a consultancy agreement. The common stock is subject to a statutory hold period of four months and one day in accordance with applicable securities laws.
About Deepspatial Inc.
Deepspatial Inc. is a SaaS artificial intelligence and technology company at the forefront of spatial artificial intelligence and geographic information systems, specializing in delivering robust, AI-powered solutions to businesses by harnessing the power of geospatial data. The company has currently developed products that address four specific customer needs across all industries. These are (1) geodemographic customer profiling, (2) price recommendation engine, (3) inventory management and supply chain analysis (market entry and expansion) and (4) sentiment monitoring to measure and improve brand health.
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