To increase conversions and transaction revenue, the future of marketing and advertising will need to be highly personalized and engaging.
Two leading tech companies are integrating their respective technologies - artificial intelligence and augmented reality – (AI & AR) to offer just that. With their eyes set on lucrative, scalable industries such as sports and entertainment, and retail, the two companies are well-situated for fast, large-scale adoption.
Vancouver-based
Loop Insights Inc. (TSX-V: MTRX, OTC Pink: VRZPF, Forum) anticipated this trend years ago with its development of an AI platform centered around its IoT device Fobi. With a mission to level the playing field between brick and mortar retailers and their online competition, Loop’s technology aggregates online and on-premise data to curate a data-driven customer experience. The company unlocks access to real-time redemption metrics to close the consumer loop—something that does not exist in the brick and mortar environment today.
On July 20th, Loop announced that it is teaming up with AR company
ImagineAR Inc. (CSE: IP) to integrate AR and AI to create a platform that drives immersive, “hyper targeted” consumer and fan experiences.
In a
news release, Loop explained further that integrating both companies’ respective technologies into a singular platform
will deliver personalized, targeted promotions in a highly engaging way, leading to increased conversions and transaction revenue in the professional sports, entertainment and retail industries.
Loop Insights CEO Rob Anson added that their Fobi technology had already been turning heads in the retail world, especially given its ability to deliver dynamic, personalized promotions in real time.
“With ImagineAR's immersive AR applications, we can create a whole new world of engagement that does not exist today. Together, our innovative solution unlocks engagement strategies that consumers simply have not previously experienced. This is the convergence of AI, IoT, and AR that technology companies have been promising the retail industry for years.”
By uniting Loop’s SaaS platform and ImagineAR’s “AR-as-a-Service” platform, both businesses are well supported and positioned to capitalize on this opportunity in its infancy, especially with Loop recently becoming a member of the Amazon Partner Network and ImagineAR being a
Microsoft (NASDAQ: MSFT) co-sell Azure partner. ImagineAR’s client portfolio includes: the NBA’s Sacramento Kings,
AT&T (NYSE: T), Mall of America, and the Basketball Hall of Fame. As for Loop, the company is advancing discussions with major sports organizations such as in the NFL, NHL, NCAA, and a globally-renowned casino company.
ImagineAR’s CEO Paul Silverrstieen shares Loop’s vision for global scalability across verticals, and affirms that their technologies are incredibly synergistic.
“Now with Loop's integration, our shared global clients can drive a highly personalized, immersive experience to increase loyalty and consumer spend, as well asgain marketing attribution to create detailed fan loyalty profiles."
This partnership comes at a strategic time, as Loop is also on the cusp of a new horizon of investment reach. On July 15, 2020, the company applied for eligibility to The Depository Trust Company (DTC) in preparation for
trading company shares on the OTCQB American Venture Market. With a notable increase in in-store tech investment globally (as a CB Insights report found, a 60% increase in 2019 alone), and many of Loop’s opportunities and partnerships stemming from the US, widening its investor portfolio certainly aligns with the company’s goal to become a truly global. As Anson affirmed, it is an “important, and natural step, as our compelling story grows and transcends borders.”
Some of these exciting opportunities that are capturing attention include projects with two of Canada’s largest telecommunications companies, as well as, two of the largest network providers in the United States, which was announced on July 13, 2020. A few days later, Loop received major investor interest after releasing an update on its international contact tracing platform on July 17th—a 100% increase in stock price to be specific. If there’s a time to get Loop Insights on your investment radar, it’s now.
To find out more about Loop Insights Inc., visit their website at
LoopInsights.ai.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.