Special Edition AI Eye: VSBLTY Groupe Technologies Corp. (CSE: $VSBY.C) (OTC: $VSBGF) CEO Gives Insight on Global Reseller Agreement with Sensormatic Solutions, Leading retail solutions portfolio of Johnson Controls (NYSE: $JCI)
Point Roberts, WA and Delta, BC - September 30, 2019 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering Artificial Intelligence issues a special edition of The AI Eye, reporting on recent news from VSBLTY Groupe Technologies Corp. (CSE:VSBY) (OTC: VSBGF) (5VS.F), a leading retail software and technology company using artificial intelligence.
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#AI Eye: VSBLTY (CSE: $VSBY.C) (OTC: $VSBGF) co-founder / CEO Discusses Global Reseller Agreement with Sensormatic Solutions, leading global retail solutions portfolio of Johnson Controls (NYSE: $JCI)
VSBLTY Groupe Technologies Corp.'s (CSE:VSBY) (5VS.F) (VSBGF) recently-signed exclusive Global Reseller Agreement with Sensormatic Solutions, the leading global retail solutions portfolio of Johnson Controls (NYSE:JCI), could be the former's most significant to date.
"It's probably the most important deal the company has done in the history of the company," said VSBLTY co-founder and CEO, Jay Hutton in a recent interview with Investorideas.com.
Hutton explained how the agreement benefited VSBLTY in the reach gained from Sensormatic's scope of operations.
"We brought innovation to the table, they brought scale to the table," he said. "They share our vision. We look at their footprint and they have 185,000 technology deployments in brick and mortar stores in over 105 countries, and every day 1.5 million data collection points - that's the current Sensormatic footprint. Sensormatic has components for their solutions in 80 percent of the top 200 retailers worldwide in over 70 countries. It's an ideal partner for us."
But it certainly isn't one-sided. Hutton outlined the industry trend of established companies like Sensormatic leveraging the innovations of more dynamic and agile smaller firms like VSBLTY.
"The large companies generally do not carve the way in innovation," he said. "It's generally left to the smaller companies to do that. But what's interesting, is that the large companies tend to hover around these interesting innovations and tend to align with these smaller companies when it comes time to scale."
To specify the point with regard to Sensormatic's market, Hutton described VSBLTY's unique market position.
"We sit at the nexus of marketing and security," he said. "If you're a retailer, among the things that are most important for you right now is measuring the in-store experience. This comes in multiple ways: measuring inventory, measuring the shopper experience, [and] collecting big data for the purposes of analytics so that you may optimize, not only the wallet - the amount of money people spend in retail - but of course, understanding more about the shopper's movement within retail."
VSBLTY's multifaceted application was emphasized in the agreement's press release by Sensormatic Solutions Head of Strategy, Amin Shahidi, who commented:
"VSBLTY is an important piece of our strategy as retailers increasingly rely on in-store video analytics to not only understand and directly support the shopper journey but also to provide another layer of context-based security and loss prevention."
Companies like Sensormatic typically leverage RFID (Radio-frequency identification) tags and EAS (Electronic article surveillance) to combat shoplifting and shrinkage. Hutton spoke of how VSBLTY's solutions enhance the existing loss prevention and security measures without replacing them. He highlights the application of the company's Vector™ module, which detect persons or objects of interest.
"That entire industry is changing," he said. "Not eliminating RFID, but augmenting RFID with computer vision. This is exactly what Vector does for us."
"Vector ... looks for persons of interest, can identify objects in a field of view, and provides a complementary capability for security personnel. Vector uses artificial intelligence to take multiple security feeds and look for anomalous behaviour within [them]."
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