Datametrex talks AI, blockchain for POS market
2017-10-02 13:02 ET - News Release
Mr. Andrew Ryu reports
DATAMETREX AI TECHNOLOGY AND BLOCKCHAIN UPDATE
Datametrex AI Ltd. has provided further insight into its technology road map.
Datametrex is a plug-and-play solution for vendors. The company extends the life of point-of-sale (POS) terminals without having to upgrade them to new cloud-based devices through its DataTap technology. The DataTap captures all data sent from the POS to the receipt printer and then sends them to the cloud so they can be presented in a dashboard for management to monitor key pertinent information and make vital business decisions. The value of these data across many retail locations provides imperative business intelligence, and the company plans to implement blockchain platforms to give the data further authentication, verification and integrity across each specific network of retailer.
This will offer tremendous value to brands that want this insight on POS data for products sold through their retail distribution channels. Once Nexalogy, a company being acquired by Datametrex, has the most reliable data from the Datametrex blockchain, it can add key artificial intelligence (AI) techniques to further optimize the data. This combination of blockchain and AI for the POS market is extremely compelling and will be unrivalled in the market.
The combination of gathering structured data through Datametrex's DataTap and unstructured data though Nexalogy's AI platform and feeding them into a blockchain platform will truly redefine business intelligence with the most optimum and relevant information.
Nexalogy's AI platform unlocks valuable insights and analysis from a variety of data sources, giving brands, corporations and governments a unique way to analyze information and make better decisions in areas like security, marketing and overall operations. The company's proprietary algorithms, when merged with traditional business intelligence, provide an innovative platform using artificial intelligence and social data; Nexalogy is also working on predictive and sentiment analysis, entity extraction, and advanced geolocation and filtering techniques.
Nexalogy is emerging as a disruptive leader in the business intelligence marketplace with strong focus in social data analysis. According to Markets and Markets, a flagship competitive intelligence and market research firm serving 1,700 global fortune enterprises: "The Social Media Analytics Market is worth 5.4 Billion USD by 2020. The rapid growth is because of the transition from traditional Business Intelligence (BI) techniques to advanced analytics and the massive surge in the number of social media users and data."
"We are excited to roll out our AI platform in a number of new markets and to continue penetrating areas where we have good traction. Additionally, the opportunity to combine AI and blockchain technology while working with rich data sets provides a vital and truly innovative solution for the business intelligence marketplace. The opportunities for combining traditional and social data are widely needed across the Fortune 1000. Enhancing this data through AI and blockchain protocols propels our platform to the forefront of business intelligence," said Andrew Ryu, chairman and chief executive officer of the company.
About Datametrex AI Ltd.
Datametrex is a big data company for retail, brands and other organizations. The company's DataTap technology captures all data sent from the POS to the receipt printer and scanner and then sends them to the cloud so they can be presented for key decision making. The company is planning on integrating the DataTap environment to decentralized blockchains to further authenticate and validate the data collected.
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