Fobi AI Inc V.FOBI

A good read

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Focusing on some companies in the tech space, Fobi AI Inc. Inc. (TSX-V: FOBI, Forum) is partnering with Kiaro Holdings to implement a big data and operational intelligence platform.

Fobi will assist Kiaro in the development of a big data and operational intelligence platform to help optimize and monetize its sales data by generating insights, analytics, and audience segmentation capabilities, providing Kiaro with a competitive advantage in the fast-growing cannabis retail market.

Kiaro CEO Daniel Petrov commented on the partnership:

“This partnership with Fobi will allow Kiaro to greatly improve its overall operational efficiencies and enable the company to benefit from enhanced data aggregation and segmentation capabilities, as Kiaro continues to execute on our scale and growth plans.

With the sensitivity and importance of the large amounts of client data that can now be collected and optimized through Fobi’s AI-driven insights solution, I look forward to working with the Fobi team and advancing our internal data strategy and roadmap. As a result of this agreement, we are now well-positioned to monetize our existing data streams across the industry.”

This partnership will allow Fobi to demonstrate the financial value of its data analytics capabilities to the entire industry, leading to future opportunities within the massive and growing cannabis vertical.

Fobi CEO Rob Anson also commented:

“I see the cannabis industry as a very lucrative opportunity for Fobi. This agreement with Kiaro will allow Fobi to demonstrate the power of our real-time data applications and analytics to provide a disjointed and fragmented market with the technologies and strategies necessary to improve existing siloed data systems. The power of Fobi’s real-time artificial intelligence and data capabilities will be key to driving profitability and supporting the growth and scale plans of Kiaro.”

Fobi is in advanced stage discussions with several potential clients and expects further such agreements in 2021 and beyond.

One of Canada’s largest retailers of cannabis, Kiaro operates 16 locations and forecasted annual revenue of $42.7 million. Kiaro is an independent, omnichannel cannabis retailer and distributor with storefronts across British Columbia, Saskatchewan and Ontario Fobi is a cutting-edge data intelligence company that helps clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premises platforms creating highly scalable solutions.