Special Edition #AIEye: VSBLTY Groupe Technologies (CSE:
$VSBY.C) (OTC: $VSBGF) CEO Discusses UST Global Agreement and Retail Going
Digital; @vsbltyco
Point Roberts WA, Vancouver BC – April 27,
2020 – Investorideas.com (www.investorideas.com), a global investor news source
covering Artificial Intelligence (AI)
brings you today’s special edition of the AI
Eye, featuring an exclusive
interview with the CEO of VSBLTY Groupe Technologies
Corp. (CSE:VSBY) (5VS.F) (OTC:VSBGF).
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to today’s podcast:
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this in full at https://www.investorideas.com/news/2020/artificial-intelligence/04271AIEye-Interview-VSBY.asp
According to Jay Hutton, Co-founder and CEO
of VSBLTY Groupe Technologies Corp. (CSE:VSBY) (5VS.F) (OTC:VSBGF), the company’s recently-announced
global, multi-product strategic teaming agreement with leading digital
transformation solutions company, UST Global, marks a significant milestone as
the company’s first integrator deal.
“We’ve done business relationships and
business partnerships with companies that are also in the category as vendors –
building products with which we connect to or components that we consume – but
this is the first integrator we’ve done and frankly, we’ve started at the top,”
he said.
This agreement will see the two companies
assimilate their solutions and services to meet the digital transformation
needs of UST Global’s worldwide customers and clientele. In the press release,
UST Global’s GM, Emerging Digital Retail Technology, Subhodip Bandyopadhyay,
indicated that his company’s retail clients in particular, “include 12 of the
Top 20 Global Retailers.” Hutton explained that UST Global’s position, with
respect to retail makes them especially suitable for digital transformation.
“They do a lot in retail, perhaps a third
of their business is in retail, and where they’re in it, they integrate
point-of-sale systems, back office inventory systems, all the components you
would imagine would drive retail from a digital point of view, they plug
together.”
Addressing the retail space more broadly,
Hutton pointed out the gradual but undeniable trend toward digital.
“Retail has, for many years, been stuck
behind,” he said. “I think probably in the last two years we’ve certainly seen
significant indicators that retailers are really embracing digital.”
Hutton attributes these developments to
gains made by the online experience, principally in the ability to monetize
customer data.
“We’re looking at something like 4-5
percent penetration of digital in retail in 2019, exploding to something like
80 percent by 2022,” he said. “So that marketplace is rapidly exploding and is
really buoyed, as much as anything, by the experience of the internet. The
internet has, if nothing else, created the ability to create advertising
impressions and the ability to monetize audiences, and that’s exactly what
we’re doing in retail.”
This evolution in the market is something
VSBLTY is well-positioned to accommodate with their technologies. Hutton explained
the demand for information in the retail space and VSBLTY’s ability to deliver
with products like its computer vision-powered DataCaptor™ software.
“From a retailer’s perspective, what you’re
interested in is what’s happening in your store,” he said. “You want to know
the footfall – the number of people that enter your store – the number of
males, females, approximate age range of all your shoppers or consumers, and
their movement within the store. We want to know all the components about movement
of traffic within the store, including, by the way, because of the
[Coronavirus], things like social distancing.”
“All that capability is informed and
delivered by VSBLTY’s computer vision product DataCaptor,” he said. “It teaches
computers how to interpret, collate and report on the things that they see.”
Beyond meeting the needs of the retailer,
Hutton explained that brands themselves stand to benefit from the data captured
by VSBLTY’s technology.
“They deploy activations or digital
messaging in the store, and they want to measure the performance of those
activations,” he said. “In part it’s a return investment.”
“In addition to all the things our systems
do in terms of body count, gender, etc… we also measure sentiment. Are people
reacting positively or negatively to digital display[s] or digital messaging in
store?”
The agreement between VSBLTY and UST Global
then appears to be in sync with observable trends in the market. Hutton
expressed the inexorability of retail’s going digital, even following the upset
brought on by the global Coronavirus pandemic.
“[They’re] rapid changes and they’re coming
to a store near you because this is a wave that cannot be held back despite the
recent disruption in retail.”
Podcast host: Sam Mowers, Investorideas.com
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