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TORONTO, September 21, 2021--(BUSINESS WIRE)--Deepspatial Inc. (CSE:DSAI) ("Deepspatial" or the "Company") is pleased to announce that it has filed patent application number 63244524 - Computer Implemented Method and System for Retail Management and Optimization with the United States Patent and Trademark Office (USPTO) for its proprietary methods of retail management with enhanced user experience for dynamic planning and decision making.
Advancements in information technology have revolutionized the landscape for e-commerce and retail. As digital transformations enrich and enhance existing businesses, retail businesses face new frontiers for expansion along with a novel constraint - location. As organizations adopt omni-channel strategies to deliver value, traditional retail needs to adapt to find novel solutions to thrive. In 2019, retailers in the United States announced over 9,000 store closings. In 2020, the onset of the current pandemic has only exacerbated the problem. Optimization of inventory management, pricing, supply chain, customer sentiment at existing locations along with identification of new markets and identification of stores which need to be shut down are unique challenges which need to be addressed in the retail segment.
The patented technology is a complete solution that addresses all the pain points encountered in the retail sector and using Deepspatial’s proprietary Artificial Intelligence (AI) driven algorithms in conjunction with the company’s proprietary data sets as well as customer’s data, insights are provided which are client-specific to make critical business decisions.
Key features of the retail management platform include Inventory Optimization, E-Commerce Optimization, New Location Identification and Evaluation, Customer Persona Targets, Pricing Recommendations, Trend Prediction and more. Layering together proprietary, public and client data sets, along with social media sentiment analysis to capture consumer and customer perspectives, Deepspatial’s Artificial Intelligence and Machine Learning engine determines what it the current state and predicts the future state for users to make critical, bottom-line, business decisions.
Dr. Rahul Kushwah, CEO says, "By bringing together the data, our AI and ML engine can provide insights and predictions that are visualized on a map for easy understanding of the operational and competitive landscape. This gives companies the advantage to better understand the current situation and see what’s coming, giving them the confidence to make decisions that save money, increase efficiency, drive revenue and take the lead in high value markets."
Dr. Kushwah appeared on Proactive Media to talk about the company and its patent filing.
The company has agreed to issue a consultant 100,000 common shares of the Company at a price of $0.145 per common share as compensation pursuant to a consulting agreement. The common shares are subject to a statutory four month and one day hold period in accordance with the applicable securities legislation.
About Deepspatial Inc.
Deepspatial Inc. is an artificial intelligence, technology SaaS company at the forefront of geospatial artificial intelligence and geographic informational systems, specializing in providing robust, AI-powered solutions to businesses by leveraging the power of geospatial data. The company has currently built products that target four specific customer needs across industry verticals. These are (1) geodemographic customer profiling, (2) price recommendation engine, (3) inventory management and supply chain analytics (market entry and expansion), and (4) sentiment monitoring to measure and improve brand health.
Caution regarding Forward Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related 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 related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.
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