Nowigence Inc (OTCMKTS:NOWG) Stock In Focus After Latest News
The artificial intelligence space has grown at a remarkable pace over the course of the past few years and it is expected to continue to be on an upward trajectory. There are many companies that are working on a range of artificial intelligence-related projects and yesterday, Nowigence Inc (OTCMKTS:NOWG) made an announcement on this front.
The company announced yesterday that it was working on positioning its AI SaaS (software as a service) platform for use in retail. The product was built by the company with generative and extractive artificial intelligence, which enabled it to pull out the right data or context from reams of text from thousands of documents fairly quickly. Such a product can be of considerable advantage to retail operations as well.
The company announced yesterday that it was going to have a pilot project for its product with the multinational conglomerate Lotte Group, which is based out of South Korea and Japan. It was noted that the margins in the retail sector were declining steadily and in such a situation it was often not possible for companies to dig into reports and data throughout. The deployment of the company’s AI product could help alleviate that problem.
