Vancouver, BC, and Erie, Pa, July 21, 2020: ImagineAR Inc., an augmented reality company that enables sports teams, businesses, retailers and organizations to instantly create their own AR mobile campaigns, has signed a Memorandum of Understanding (MOU) with Loop Insights Inc. , a provider of contactless solutions and artificial intelligence (AI) to drive marketing and real-time consumer insights.
On July 13, 2020 Loop announced the acceleration of conversations and projects with two of Canada’s largest telecommunications companies, as well as, two of the largest network providers in the United States. Moreover, the Company is in advanced discussions with major organizations in the NFL, NHL, NCAA and a globally renowned Casino company.
Loop Insights CEO Rob Anson said in a press release, “Loop Insights utilization of AI and IoT technology was already turning heads in retail with our 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.”
ImagineAR allows its clients real-time engagement with their consumer using mobile augmented reality. Loop Insights enhances the AR solution with artificial intelligence to make the customer experience hyper-personalized promotions for the purpose of generating a higher average spend. Loop and ImagineAR will jointly introduce their platform to each other’s global client networks to increase reach and accelerate scalability. Revenues will be driven through onboarding and annual licensing fees, both companies will also benefit from monthly Software as a Service
(SaaS) and managed service fees.
Loop is a Vancouver-based technology company that provides transformative artificial intelligence services and IoT solutions to the brick and mortar retail industry to support its longevity in the face of a growing online consumer culture. At the core of its solution is the Fobi IoT technology, which has the unique ability to connect company-wide data with in-store transactional data in real time.
Image credit: ImagineAR