Artificial Intelligence
Loop Insights Completes Acquisition of Intellectual Property Assets of Locally, A Global Location Data Intelligence Company With Tier-1 Clients
VANCOUVER, British Columbia, Feb. 18, 2021 (GLOBE NEWSWIRE) — Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) (“Loop” or the “Company”), a provider of contactless solutions and artificial intelligence (“AI“) to drive automated marketing, venue tracing, and contactless solutions to the brick and mortar space, is pleased to announce the completion of its previously announced acquisition (the “Acquisition”) of the intellectual property assets of Digital2Go Medial Networks, Inc. d/b/a Locally (“Locally”) pursuant to an asset purchase agreement between the Company and Locally dated February 16, 2021 (the “APA”). Locally is a technology company focused on providing location data intelligence and real-time consumer engagement.
Locally Acquisition Provides Loop Insights with Unparalleled Location-Based Retail Insights, Foothold in $28.95-billion Location-Based Services Industry
Rampant digitization and the increasing use of smartphones have helped grow the location-based services market to $28.95 billion in 2019, according to Allied Market Research.
As a leader in human movement intelligence data, Locally has positioned itself to enable businesses to connect their physical and digital databases through mobile location insights and marketing integration capabilities. Locally has helped well-known brands and companies such as Ford, BMW, Wyndham Resorts, Calvin Klein, Kroger, Chipotle, Napa Auto Parts, 7-11, and others access deep consumer behavioral insights across all of their marketing activation channels.
The acquisition of Locally will allow Loop Insights to incorporate Locally’s location-based data and engagement capabilities, providing Loop with new revenue opportunities with brands and retailers looking to capitalize on the increasing use of location-based services.
Loop Insights CEO, Rob Anson, stated: ”The stakes have been raised in terms of brand and consumer expectations and interactions, with consumers demanding that brands cater to their individual preferences. The unique combination of Loop’s retail transaction data capabilities and the Locally location-based engagement platform has significantly improved Loop’s capabilities across retail, hospitality, and live sports and entertainment verticals, further enabling us to amplify frictionless experiences inside and outside nearly any physical location. With over 50 billion location signals collected to date, Locally was an obvious fit to acquire and incorporate into Loop’s product offerings, and will make an immediate impact on our already robust pipeline.”
Loop’s enhanced location-based capabilities will be applicable to nearly all of its clients, creating meaningful, dynamic, and personal connections with consumers, while providing retailers with unparalleled retail insights. By connecting transaction information to the unique IDs of users, Loop is able to drive targeted marketing opportunities and real-time engagement directly to customers through its wallet pass and other engagement capabilities.
Terms of the Acquisition
In consideration for the Acquisition, Loop issued 166,250 common shares in the capital of the Company (the “Shares”) at a price per share of $1.20 for aggregate consideration of $199,500 to Locally. Any Shares issued in connection with the Acquisition will be subject to a restricted period of four months and one day from the date of issuance, as well as restrictions pursuant to applicable US securities laws.
Locally Acquisition to Support Loop in Data Acquisition and Monetization Strategies
In support of Loop’s success deploying its venue management platform in live environments, the acquisition of Locally will allow Loop Insights to fully integrate location-based information with transaction data to provide clients with a comprehensive overview of their guests and their spending habits.
As outlined in an October 7th, 2020 press release, Loop Insights has already begun to integrate Locally’s location-based data insights into Loop’s insights and engagement platforms. By combining Loop and Locally’s technology stacks, Loop has been able to offer enhanced location and mobile data insights, additional targeted marketing capabilities, and new revenue streams via data monetization with retailers, brands, sponsors, and marketers.
On December 1st, 2020, Loop announced it had achieved 100% success in delivering the first-ever fully integrated “Venue Bubble” in live environments at both NCAA College Basketball Tournaments. In total, Loop provided 14 check-in locations that traced over 550 athletes, coaches, and staff members at the two tournaments. Live demonstrations of the Venue Bubbles lead to significant discussions about some of North America’s largest sporting events in 2021, with additional events to be announced.
This Press Release Is Available On The Loop Insights Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement https://agoracom.com/ir/LoopInsights/forums/discussion
About Locally
Locally is a provider of a location and contextual engagement platform intended to bridge the gap between the locations and consumers that visit them. The company’s platform combines predictive and contextual marketing automation with native and aggregate data sources and also provides actionable consumer insights based on many forms of context mainly location, time, behavior, interests, and many more to create customized audiences used for targeted marketing, advertising and messaging, enabling businesses to promote brands and improve customer engagement through personalized and contextually relevant mobile experiences.
LOOP INSIGHTS INC.
Per: “Rob Anson” Rob Anson Chairman and Chief Executive Officer Telephone: 1 (877) 754-5336 Ext. 4 Email: [email protected] |
Website: Facebook: Twitter: LinkedIn: |
www.loopinsights.ai @LoopInsights @LoopInsights @LoopInsights |
About Loop Insights Inc.
Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative AI automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
Cautionary Disclaimers
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
Notice Regarding Forward-Looking Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Transaction; post-closing objectives of Loop for acquired assets; the expectation of additional revenues to Loop post-closing; the expectation that Loop will be able to successfully integrate the acquired assets; that the Acquisition may position Loop for future growth; and that the vendors will assist Loop with the transition of operations post-closing. There are numerous risks and uncertainties that could cause actual results and Loop’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) COVID-19 risks; (ii) difficulties and delays associated with integrating and growing the acquired assets post-closing; (iii) risks inherent in the technology and AI industries in general; (iv) other factors beyond the control of the Company; and (v) risks outlined in Loop’s publicly filed documents available on SEDAR. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Artificial Intelligence
GSTS selected by Canada-US Seaways to provide Enhanced Analytics and Voyage Information System Predictability with OCIANA®
HALIFAX, NS, April 24, 2024 /PRNewswire/ — Global Spatial Technology Solutions (“GSTS” or “the Company”) announced that it has been awarded a contract for a Voyage Information System (VIS) by St. Lawrence Seaway Management Corporation (SLSMC) and Great Lakes St. Lawrence Seaway (GLS) to enhance joint management of bi-national waterways.
GSTS will provide predictions for VIS through OCIANA®, its proprietary, AI powered SaaS platform. OCIANA® is a cyber-secure and scalable system which has been developed in collaboration with, and is used by, ports, shipping lines, pilotage authorities, civil agencies and border security organisations.
At the heart of OCIANA’s offering is robust, predictive data analytics, powered by novel AI algorithms. OCIANA’s data integration framework will assimilate critical information from the Seaway Traffic Management System and GSTS data streams into a predictability model to accurately forecast vessel ETAs, thus providing improved management of voyages and eventually optimizing lockage schedules.
OCIANA® is a flexible platform designed to incorporate the intricate Locks System Rules, ensuring that all vessel movements adhere to safety and operational guidelines. While focusing on a specific segment of the St. Lawrence, vessel management is impacted by dynamic events stretching from the Atlantic approaches to the Great Lakes. The dynamic Lock Schedule Engine leverages various inputs, employing advanced algorithms to manage vessel traffic and schedule lockage, thus enhancing throughput and reducing delays. Through this innovation, OCIANA® will be well positioned to offer superior optimization capability to all major waterways.
“This project will demonstrate OCIANA’s capability to provide unparalleled planning and optimization in a highly dynamic environment impacted by multiple geographic, operational and environmental factors,” said Richard Kolacz, Chief Executive Officer, GSTS. “This award continues to illustrate the versatility of OCIANA® in facilitating enhancements to maritime safety, security and supply chain resilience globally.”
The Great Lakes Seaway system serves as a key supply chain, moving $66B in goods and supporting 356,000 jobs. Optimizing the flow of goods, in a highly dynamic marine trade environment, is crucial to the economies of Canada and the United States.
OCIANA® is configured to adapt to the evolving demands of maritime traffic management, with provisions for incorporating additional data sources and enhancing the Predictability Engine with emerging technologies such as weather machine learning models. GSTS continues to expand its offering to maritime and logistics stakeholders further enhancing its leading position in maritime digitalization and innovation.
About Global Spatial Technology Solutions (GSTS)Global Spatial Technology Solutions (GSTS) is a global maritime intelligence company delivering solutions to enhance decision making across the maritime and logistics industry. Our predictive solutions are enabled by a range of operational, environmental, vessel and cargo data to provide real-time decision making intelligence for ports, terminal operators, shipping lines, logistics companies, importers, exporters, national and international agencies as well as security organisations.
For more information and to explore opportunities to partner with us, contact us today.
Media Contacts: Danica Martis, GSTS, Email: [email protected]
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Artificial Intelligence
Tquila announces launch and first close of $60 million Tquila Paloma Fund, marking milestone in tech venture investment
LONDON, April 24, 2024 /PRNewswire/ — Tquila today announced the launch and first close of the Tquila Paloma Fund (the “Paloma Fund”), with $40m of commitments representing two-thirds of its target capital raise of $60m.
Tquila is a global technology venture-building company, founded by James McHugh in 2010. Tquila has built a thriving portfolio of fast growth technology service businesses across multiple geographies including the US, EMEA, Japan and Australia, bringing a combination of investment with expertise across accelerated growth, talent acquisition and operations.
Tquila invests in companies from seed through to exit, either as stand-alone entities or with co-investment from consulting technology firms and software companies, creating over $1b of equity value since its inception. Its current portfolio includes businesses focused on Data, AI, ServiceNow, Microsoft Dynamics, Google Cloud, Salesforce, UiPath, AWS and Snowflake.
The Paloma Fund will accelerate the current portfolio, as well as expand Tquila’s investments into a broader range of technologies and geographies.
Tquila has built an impressive team of industry and asset management experts to deliver on its strategy, including Carsten Jorgensen, former Chair and CEO of the Mittal Family Investment Office and Head of Investments at Inter IKEA Fund Management. Carsten will Chair the Paloma Fund and said that “The Paloma Fund reaching a solid first close in under six months is testimony to the unique opportunity Tquila offers investors and clients to partner with the in-demand software companies, and to a committed and talented group of tech entrepreneurs.”
James McHugh, founder and CEO of Tquila, former founder, CEO and Chairman of K2 Partnering Solutions said, “We are fortunate to have a world class team of entrepreneurs invested with, as advisors to, and as partners of — our inaugural fund. All of us at Tquila are delighted to be working with Carsten and the Paloma Fund team. The experience, focus and professionalism they’ve brought to the group has allowed us to accelerate our opportunity and with that, growth.”
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Artificial Intelligence
Conversational AI Market worth $49.9 billion by 2030 – Exclusive Report by MarketsandMarkets™
CHICAGO, April 24, 2024 /PRNewswire/ — Conversational AI’s future is expected to include multimodal capabilities, improved natural language understanding, and tailored interactions with an emphasis on ethical and emotional intelligence. These systems will continuously learn from and adjust to user preferences as they satisfy societal requirements, automate more and more complicated jobs, and enable human-AI collaboration.
The Conversational AI Market is projected to grow from USD 13.2 billion in 2024 to USD 49.9 billion by 2030, at a compound annual growth rate (CAGR) of 24.9% during the forecast period, according to a new report by MarketsandMarkets™.
The conversational AI market is expected to grow significantly during the forecast period, owing to various business drivers like the increasing integration of computer vision and voice recognition technology to facilitate more in-depth and personalized interactions. Exponential growth of focus on customer engagement and retention and increasing integration of AI chatbots in messaging services, and growing emergence of generative AI is also responsible for driving the market’s growth.
Browse in-depth TOC on “Conversational AI Market”
300 – Tables 78 – Figures310 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2030
Base year considered
2023
Forecast period
2024–2030
Forecast units
USD (Billion)
Segments Covered
Offering, Deployment Mode, Business Function, Integration Mode, Conversational Agent Type, Vertical, and Region
Geographies covered
North America, Asia Pacific, Europe, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), Google (US), OpenAI (US), Baidu (China), AWS (US), Artificial Solutions (Sweden), SAP (Germany), Oracle (US), Kore.ai (US), LivePerson (US), [24]7.ai (US), eGain (US), Amelia (US), Avaamo (US), Conversica (US), Haptik (India), Solvvy (US), Inbenta (US), Creative Virtual (UK), SoundHound (US), Kasisto (US), MindMeld (US), Gupshup (US), Twilio (US), Sprinklr (US), Boost.ai (Norway), Cognigy (Germany), Rasa (Germany), Saarthi.ai (India), Senseforth.ai (India), Yellow.ai (US), Exceed.ai (US), Clinc (US), Laiye (China), Rulai (US), Quiq (US), and Pypestream (US).
By Software by technology, the ML segment registers for the fastest growing market during the forecast period.
By software by technology, the Machine Learning (ML) segment is expected to register the second largest market size during the forecast period. ML has revolutionized the conversational AI market, empowering software to engage in human-like conversations, understand natural language inputs, and deliver personalized responses. These ML-based conversational AI systems utilize algorithms to analyze vast amounts of data, enabling them to continuously learn and improve their understanding and interaction capabilities. Several ML-based software types exist in the conversational AI market, including chatbots, virtual assistants, and voice assistants.
By services, professional services to register for the fastest growing segment during the forecast period.
The professional services segment of the conversational AI market is growing rapidly. The professional services in the conversational AI market encompass a range of offerings designed to assist businesses in leveraging AI technologies to enhance their customer interactions and operational efficiency. These services are provided by specialized firms, consultants, and agencies with expertise in developing, implementing, and optimizing conversational AI solutions tailored to each client’s unique needs. One key aspect of professional services in conversational AI is strategic consulting.
By region, North America accounted for the largest market size during the forecast period.
The conversational AI market in North America has been experiencing robust growth, driven by several key factors. In North America, conversational AI solutions have experienced an uptrend in diverse industries, driven by several key factors, such as increasing demand for solution types for efficient customer support, customized interactions, and streamlined communication processes. A distinguished trend in North America is the fusion of generative and discriminative methods and hybrid conversational AI models, which ensure tasks such as language translation, picture classification, and NLP, boosting efficiency and effectiveness.
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Top Companies in Conversational AI Market
Microsoft (US), IBM (US), Google (US), OpenAI (US), Baidu (China), AWS (US), Artificial Solutions (Sweden), SAP (Germany), Oracle (US), Kore.ai (US), and other players. Startup/SMEs covered in the market include Twilio (US), Sprinklr (US), Boost.ai (Norway), Cognigy (Germany), Rasa (Germany), Saarthi.ai (India), Senseforth.ai (India), Yellow.ai (US), Exceed.ai (US), Clinc (US), Laiye (China), Rulai (US), Quiq (US), and Pypestream (US).
Recent Development
In January 2024, IBM Consulting is rolling out IBM Consulting Advantage, an AI services platform designed to support IBM consultants in delivering consistency, repeatability, and speed to their clients. It includes a portfolio of proprietary methods, assets, and assistants that leverage technology from IBM and strategic partners. When using aspects of IBM Consulting Advantage in an application design, development, and testing client pilot, early adopter teams saw productivity improvements of up to 50%.In January 2024, Google Cloud’s new conversational commerce solution, announced, can enable retailers to easily embed generative AI-powered virtual agents on their websites and mobile apps. Retailers can build virtual agents with helpful and nuanced conversations with shoppers using natural language and provide product options based on a shopper’s preferences.In January 2024, IBM announced its collaboration with SAP to develop solutions to help clients in the consumer packaged goods and retail industries enhance their supply chain, finance operations, sales, and services using generative AI. With a shared legacy of technology expertise and the completed work of embedding IBM Watsonx, an enterprise-ready AI and data platform and AI assistants, into SAP solutions, IBM is working with SAP to create new generative and traditional AI solutions to be focused on addressing the complexities of the direct store delivery business process and product portfolio management.In January 2024, Open AI introduced ChatGPT Teams. ChatGPT Team offers access to advanced models like GPT-4 and DALL•E 3 and tools like Advanced Data Analysis. It includes a dedicated collaborative workspace for any team and admin tools for team management.In February 2023, Microsoft released an upgraded version of Microsoft Teams Premium. The upgrade includes the most recent technologies, such as Large Language Models powered by OpenAI’s GPT-3.5, to make meetings more intelligent, personalized, and secure.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=49043506
Conversational AI Market Advantages
Increased consumer engagement results from interactive, tailored communication made possible by conversational AI.Conversational AI improves client happiness and loyalty by offering timely responses and tailored support.Routine processes like support requests and customer questions can be automated to improve efficiency and optimize business operations.Automation lowers the need for human involvement in monotonous tasks, which saves money in support and customer service operations.Through consumer interactions, conversational AI produces insightful data that may be utilized for marketing, product development, and decision-making.Without requiring a major increase in personnel, conversational AI solutions can expand to manage high volumes of questions and support requests.Conversational AI systems may work around the clock, offering clients support and assistance whenever they need it, in contrast to human agents.More meaningful interactions can result from conversational AI’s ability to provide customized responses based on past purchases, consumer preferences, and other pertinent information.Report Objectives
To define, describe, and predict the conversational AI market by offering (software and services), deployment mode, business function, integration mode, conversational agent type, vertical, and regionTo provide detailed information related to major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growthTo analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total marketTo analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the conversational AI marketTo analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile key players and comprehensively analyze their market rankings and core competencies.To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the conversational AI marketTo analyze the impact of recession across all the regions across the conversational AI marketBrowse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting
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