October 11, 2021
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  • Deepspatial Inc. files patent for artificial intelligence-based retail management software

Deepspatial Inc. files patent for artificial intelligence-based retail management software

By on September 21, 2021 0

TORONTO, September 21, 2021– (BUSINESS WIRE) – Deepspatial Inc. (CSE: DSAI) (“Deepspatial” or the “Company”) is pleased to announce that it has filed Patent Application No. 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.

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 frontiers of expansion as well as a new constraint: location. As organizations adopt omnichannel strategies to create value, traditional retail must adapt to find new solutions to thrive. In 2019, retailers in the United States announced more than 9,000 store closures. In 2020, the onset of the current pandemic has only exacerbated the problem. Optimizing inventory management, pricing, supply chain, customer sentiment at existing locations as well as identifying new markets and identifying stores that need to be closed are unique challenges that need to be be noted in the retail segment.

Deepspatial’s solution:

The patented technology is a complete solution that solves all the problems encountered in the retail industry and using Deepspatial’s proprietary algorithms based on artificial intelligence (AI) in conjunction with the company’s proprietary datasets Along with customer data, information is provided that is customer-specific for making critical business decisions.

The main functionalities of the retail management platform include inventory optimization, e-commerce optimization, new location identification and evaluation, customer personality targets, recommendations from prices, forecasting trends, etc. By overlaying proprietary, public, and customer data sets, along with social media sentiment analysis to capture consumer and customer perspectives, Deepspatial’s artificial intelligence and machine learning engine determines the current state. and predict the future state for users to make critical results,, business decisions.

CEO Dr Rahul Kushwah said, “By pulling the data together, our AI and ML engine can deliver insights and forecasts that are visualized on a map for easy understanding of the operational and competitive landscape. This gives businesses the advantage of better understanding the current situation and seeing what’s to come, giving them the confidence to make decisions that save them money, increase efficiency, to generate income and take the lead in high value-added markets. “

Dr Kushwah has appeared on Proactive Media to talk about the company and its patent filing.

The company has agreed to issue 100,000 common shares of the company at a price of $ 0.145 per common share to a consultant as compensation under a consulting agreement. Common shares are subject to a statutory hold period of four months and one day in accordance with applicable securities legislation.

About Deepspatial Inc.

Deepspatial Inc. is an artificial intelligence and SaaS technology company at the forefront of geospatial artificial intelligence and geographic information systems, specializing in delivering robust AI-based solutions to enterprises by harnessing the power of geospatial data. The company has currently designed products that target four specific customer needs in industry verticals. These are (1) geo-demographic profiling of customers, (2) the 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 regarding forward-looking information:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE QUALITY OR ACCURACY OF THIS COMMUNICATION.

This press release may contain forward-looking statements and information based on current expectations. These statements should not be interpreted as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those implied by such statements. Although these statements are based on reasonable assumptions of management, 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 securities of the Company have not been registered under the US Securities Act of 1933, as amended (the “US Securities Act”), or applicable state securities laws, and may not be offered or sold. to, or on behalf of or for the benefit of, persons in the United States or “US Persons”, as that term is defined in regulations under the US Securities Act, in the absence of registration or an applicable exemption of these registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in the United States or in any jurisdiction in which such an offer, solicitation or sale would be. illegal. In addition, there are known and unknown risk factors which could cause the actual results, performances or achievements of the Company to be materially different from the future results, performances or achievements expressed or implied by the forward-looking information contained in the this document, such as, but not limited to reliance 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 company’s control, including risks related to COVID-19; risks relating to the Company’s shares, including price volatility due to events which may or may not be under the control of that party; dependence on management; and the urgency of additional competitors in the industry.

All forward-looking information contained in this document is qualified 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 revision of either. forward-looking information contained herein to reflect future results, events or developments, except as required by law.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210921005098/en/

Contacts

For more information please contact:

Investor Relations
Corey matthews
Investors@deepspatial.ai


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