Highlights
- OpenDNA appoints dedicated distributor QEdge in China for the sale and distribution of its Artificial Intelligence and Machine Learning technology
- New Artificial Intelligence revenue lines to be targeted in e-Commerce sector in China where over 55.8% of all online retail sales globally occur
- OpenDNA and QEdge to target business and e-Commerce users for its hyper personalisation and profiling Artificial Intelligence engine to provide valuable customer insights into Chinese consumers and online users
Artificial Intelligence (AI) and e-Commerce marketing company OpenDNA Limited (ASX: OPN) (“OpenDNA” or the “Company”) has entered into an agreement appointing a dedicated distributor in China for the sales and distribution of its Artificial Intelligence and Machine Learning technology.
OpenDNA has appointed Qingdao Edge Technology Company Limited (青岛睿哲信息技 术有限公司) (“QEdge”) to market and sell the OpenDNA AI platform on a non-exclusive basis in China where online consumers generate much of the world’s digital data, which is the key ingredient for the successful application of AI platforms.
The OpenDNA hyper personalisation and profiling Artificial Intelligence System provides personalised real-time, targeted marketing allowing brands to better market products to consumers based on their profiles and behaviours.
The platform is expected to have wide application in China where consumers are early and eager tech adopters, which is reflected by smartphone penetration rates across China. Industry forecasts show that in 2019 the country will account for over 55.8% of all online retail sales globally.
Download full article as PDFOpenDNA Managing Director, Mr Bryan Carr, commented:
“We are delighted to have formalised a relationship with QEdge, a well-established IT company in China with a track record of working successfully with western brands in the China market. We will work together to target sectors where we think we can deliver quick improvements in the world’s largest online market through the application of our AI platform to sectors such as e- Commerce.”
China has been identified by PwC and McKinsey Global Institute as having the most to gain from AI technologies as it is expected to assist the country to improve its productivity levels. The sector has strong government support in China.
A report from McKinsey Global Institute supports this view, estimating that 51% of work activities in China can be automated - more than any other country in the world.
