#ArtificialIntelligence and #Online #Retail - #Stocks to Watch:
(OTCPINK: $GTCH) (TSX: $CVO.TO) (NYSE: $CRM) (NYSE: $WMT) @coveo
@salesforce @Walmart
Vancouver, Kelowna, Delta, BC – March 23,
2022 – Investorideas.com, a global investor
news source covering Artificial Intelligence issues a report on how AI technology is accelerating e-Commerce
revenue, featuring emerging tech company, GBT Technologies Inc. (OTCPINK:GTCH).
Read this article,
featuring GTCH in full at https://www.investorideas.com/news/2022/technology/03231AI-Online-Retail.asp
It’s
no secret that the adoption of e-commerce benefited enormously from the
COVID-19 pandemic – when many people were less able or willing to shop at
brick and mortar retailers – but it is also witnessing growth as a consequence
of increasing convenience afforded by the use of new technologies, such as
artificial intelligence. In fact, a report published by Vantage
Market Research
finds that the global AI in Retail market will grow from $2.93 billion USD in
2021 to $17.08 billion by 2028. While this report encompasses brick and mortar
outlets as well, it is still indicative of the general trend toward AI adoption
both on and offline.
Some
of the principle ways AI is being leveraged in e-commerce, according to an
article from betanews, is through the
application of real-time data analytics, interactive experiences such as
virtual shopping rooms, personalization based on demographics and search data,
and enhanced customer service and customer relationship management (CRM)
through the use of virtual assistants and chatbots.
GBT
Technologies Inc. (OTC
PINK:GTCH),
a development-stage company which considers itself a native IoT creator,
developing Internet of Things (IoT) and Artificial Intelligence (AI) enabled
mobile technology platforms, recently announced that it had
entered into a revenue sharing agreement with online retailer Mahaser LTD dba Ravenholm
Electronics,
commencing March 1, 2022. For the agreement, GBT is testing its AI platform - AVANT! AI – “to identify
opportunities with respect to e-commerce sales through the world's biggest
online retail platform.”
Ravenholm
Electronics itself is an e-commerce retailer with 5+ Best Seller Tags,
specializing in video game products and accessories, and boasts over 2,000
active, profit-driving SKUs (stock-keeping units). Operating as it does in the
video game niche, Ravenholm with the assistant of GBT AI platform - AVANT! AI, has and is poised
to continue riding the surge in that market’s revenue seen in the last five
years – the Video Game Industry is expected to reach $180 billion in
comprehensive earnings. Indeed, Ravenholm Electronics already reports a 70
percent year-over-year earnings growth as of 2021.
Through
its revenue sharing arrangement with Ravenholm, GBT has already sold 666 items
generating sales of $152,979 since Match 1, 2022 to date representing an
approximate average of $229.70 per item/order. GBT’s CEO, Mansour Khatib, said:
"We were
pleased to announce this new stream of revenue. As a reminder, we entered into
a revenue sharing agreement for a term through the end of the year with an
option to extend for additional terms. This opportunity may allow us to expand
our operations to different domains, which potentially can complement our
products when and if introduced to the market. Currently, we operate the
e-commerce platform from West Hollywood, California and we are selling
currently in the United States, Canada, Mexico and Brazil.”
Another
firm exemplifying the use of AI as an e-commerce solution is Coveo Solutions
Inc. (TSX:CVO), which recently announced that it has
enabled AI-powered search and recommendations capabilities on Salesforce
AppExchange (the cloud computing marketplace of Salesforce, Inc. (NYSE:CRM)), thereby
allowing customers to connect with Coveo experts in real time and make better
business decisions. This, according to the press release, enables intelligent
service – including proactive recommendations and insights – and smart B2B or
B2B2C commerce experience.
Retail
giant Walmart (NYSE:WMT) announced the acquisition of Israeli AI
startup Zeekit that offers a virtual fitting room platform that employs
real-time image technologies, computer vision and artificial intelligence.
Recently Walmart announced the launch of the
platform for users of the Walmart app and Walmart.com. Debuting with the
“Choose My Model experience,” the feature allows customers to “determine the
model who best represents their height, body shape and skin tone to understand how
an item will look on them.” According to an article from PYMNTS.com, “Walmart’s U.S.
eCommerce sales were up 11% in the most recent fiscal year and jumped 90% from
two years ago.” Denise Incandela, EVP of Apparel and Private Brands, Walmart
U.S., explained:
“Zeekit was built
with a vision to provide every person the chance to see themselves in any item
of clothing found online, and that is a vision we share. Our new Choose My
Model capability is just the beginning. We are also working to launch a virtual
try-on experience for women’s apparel, moving with speed to bring this
groundbreaking technology to our customers. With Zeekit’s visionary team,
powered by the Walmart Global Technology platform in partnership with our
Fashion Merchandising and ecommerce Site Merchandising organization, we have
the incredible opportunity to revolutionize how our customers shop for clothes
online.”
With
e-commerce’s seemingly inexorable takeover of retail market share, and the
already obvious benefits of AI technologies in the online retail space, it
seems all but assured that the prevalence of AI in e-commerce will persist.
Read and hear other editions of the AI Eye
For a list of artificial intelligence stocks on Investorideas.com visit here
About GBT Technologies
Inc.
GBT Technologies, Inc. (OTC
PINK: GTCH) (“GBT”) (http://gbtti.com) is a development stage company which
considers itself a native of Internet of Things (IoT), Artificial Intelligence
(AI) and Enabled Mobile Technology Platforms used to increase IC performance.
GBT has assembled a team with extensive technology expertise and is building an
intellectual property portfolio consisting of many patents. GBT’s mission, to
license the technology and IP to synergetic partners in the areas of hardware
and software. Once commercialized, it is GBT’s goal to have a suite of products
including smart microchips, AI, encryption, Blockchain, IC design, mobile
security applications, database management protocols, with tracking and
supporting cloud software (without the need for GPS). GBT envisions this system
as a creation of a global mesh network using advanced nodes and super
performing new generation IC technology. The core of the system will be its
advanced microchip technology; technology that can be installed in any mobile
or fixed device worldwide. GBT’s vision is to produce this system as a low
cost, secure, private-mesh-network between any and all enabled devices. Thus,
providing shared processing, advanced mobile database management and sharing
while using these enhanced mobile features as an alternative to traditional
carrier services.
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