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Doesn’t it seem like our technology always knows exactly what we are thinking?
We wonder if we should purchase something, and suddenly it shows up in an advertisement on our phones without warning. Artificial intelligence (AI) technology has undoubtedly evolved over the last couple of years in an almost eerily accurate way. Companies like Alfi (NASDAQ: ALF) are leveraging this new technology while also retaining privacy, developing an AI platform that both protects consumer privacy but also provides advertisers with user information they need to make better business decisions.
How does this work? Alfi’s AI and machine-learning software collect data through digital screens to predict human behavior. Unlike many standard AI programs, however, this automation does not track, store cookies, or use any identifiable information. Instead, the machine learning software anonymously senses user information. In other words, it can detect movement, but it does not profile the activity itself. Compliant with General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and Health Insurance Portability and Accountability Act (HIPAA), it results in non-intrusive marketing for brands and business owners alike.
The Future of Ad-Tech?
The process goes something like this: first, Alfi analyzes the user’s demographic, psychographic, and geolocation information. After that, it curates content tailored to the user’s gender and age, while sensing the consumer behavior to provide real-time feedback. This includes any facial expressions and movements. In the end, a report is generated for the business or brand.
Alfi has rich data analytics, which are location-specific and curated for each individual. The digital out-of-home (DOOH) advertising portal provides software as a service (SaaS) technology that focuses more on the what rather than the who. This way businesses and brands can still target their users in a detailed way. Their go-to marketing areas include airport and mall kiosks, rideshares and tablets, enterprise software, data analytics, and subscriptions.
In a proof of concept, analyzing 100 Alfi tablets in taxis with 30 brands advertising in 30 days, 12,529,378 actual impressions were captured with projected revenue of $93,970.35. Some of the highest performing brands include Amazon (NASDAQ: AMZN), Netflix (NASDAQ: NFLX), eBay (NASDAQ: EBAY), Coca-Cola (NYSE: KO), and PepsiCo (NASDAQ: PEP), to name a few.
Currently, clients include independently contracted Uber (NASDAQ: UBER) and Lyft (NASDAQ: LYFT) drivers with plans to target a 100,000 person rideshare network by 2025, NEOOH of Brazil, ValueCabs in Ireland, and many more customer pilot programs underway.
Alfi is positioned to possibly transform a nearly $600 billion market with its niche AI technology, delivering the right content to the right people at the right time.
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