Nowigence Announces Its Pilot AI Product Development for Retail Use
B2B AI SaaS product distills information directed by questions or topics and delivers responses in a ready-to-use format.
Built with extractive and generative AI, its product platform pulls out the right context or data from long-string text on any personal or work-related topics from many thousands of documents stored in multiple data sources or IT tools.
With capabilities of working with hybrid data including returning answers asked in natural language for tabulated data, Nowigence believes that not only is its platform providing solutions to the problem of information overload but also IT fatigue wherein users have to work with multiple IT tools to collect bits and pieces of information.
Nowigence, announced that it has been working to position its AI SaaS platform for Retail.
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It was in October of 2022 that Dr. Stephens Thé, CEO of REXES visited Indonesia and met the former President Director of the Lotte Mart Indonesia, Mr. Joseph Buntaran.
Based in South Korea and Japan, Mr. Buntaran’s former company Lotte Group is a multinational conglomerate that offers a diverse range of products and services, from hotels, fast food, retail and financial services to industrial chemicals, electronics, IT and construction.
Mr. Buntaran defined the problem stating, “With declining margins in grocery retail, there are not enough team members to dig into hundreds of reports. Scanned data is available in abundance and growing exponentially but the ability to analyze for better results lags behind.”
Dr. Thé from REXES was instrumental in bringing Nowigence advanced AI with machine learning and natural language processing. He added, “Creating reports or data dashboards is reactive. With Nowigence, we gain the ability to derive value from data as soon as it is created.”
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Mr. Krishna Tamireddy, the Chief Marketing Officer (CMO) of Nowigence said, “We are fortunate to have the domain expertise of Mr. Buntaran to help us develop and validate an AI platform for Retail in the APAC region. Consumers demand more up to date product intelligence and desire to know the story behind the products they consume. It’s not just about data analytics anymore but about product-focused content creation, our forte.”
Nowigence and REXES will jointly announce the launch of its Retail AI platform in the latter half of 2023.
Nowigence, Inc. (OTCQB: NOWG) develops, distributes, and markets advanced extractive and generative artificial intelligence (AI) SaaS products that instantaneously answer what you want to know now that otherwise lies buried in various documents, whether publicly available or in private files. Its soon to be launched Lille.ai extracts the most relevant content while conducting complex searches as demanded by you. It compiles an answer with full traceability of trusted data sources allowing users to edit or enter their own perspectives and regenerate answers.
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