Deepspatial Inc. files patent for AI-powered retail management software

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.

Problem:

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.

Deepspatial’s solution:

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.

Caution with forward-looking information:

THE CANADIAN SECURITIES EXCHANGE HAS NOT CHECKED THE ADEQUACY OR ACCURACY OF THIS PUBLICATION AND ASSUMES RESPONSIBILITY.

This press release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future company performance or results. Such statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those implied in such statements. Although such statements are based on reasonable assumptions made by management, there can be no guarantee that these assumptions will prove to be correct. We are not responsible for updating or revising them to take account of new events or circumstances. The Company’s securities have not been registered under the US Securities Act of 1933, as amended (the “US Securities Act”) or any applicable state securities laws, and may not be offered or sold to or for the account or for the benefit of any person in the United States United States or “US Persons”, as that term is defined in the provisions of the US Securities Act, with no registration or any applicable exception to such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will any sale of the securities be made in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. In addition, there are known and unknown risk factors that could cause the company’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied in the forward-looking information contained herein, such as dependency from obtaining regulatory approvals; the ability to acquire intellectual property rights in relation to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties and in particular uncertainties related to COVID-19; Risks related to factors beyond the control of the company, including risks related to COVID-19; Risks associated with the Company’s shares, including price volatility due to events over which that party may or may not control; Dependence on management; and the need for additional competitors in the industry.

All forward-looking information contained herein is limited in its entirety by this cautionary statement, and the company disclaims any obligation to revise or update such forward-looking information or to publicly announce the result of any changes to the forward-looking information contained herein for future results To reflect events or developments, unless required by law.

Source link

About Rachael Garcia

Check Also

Maryland congressional delegation announces more than $ 3.6 million in Chesapeake Bay watershed restoration projects

October 15, 2021 US Senators Chris Van Hollen and Ben Cardin and Congressmen Steny H. …

Leave a Reply

Your email address will not be published. Required fields are marked *