Loop Insights Inc. (MTRX:TSX.V) announced in a news release that Amazon Web Services gave it $100,000 to enhance and streamline the existing artificial intelligence (AI) functions of Loop's products.
"We feel that Amazon is clearly a global leader when it comes to data security and AI applications, so it is exciting that our product is being recognized and supported by them. These funds will expedite several critical processes surrounding data security and data architecture, which will keep Loop at the forefront of modern day AI capabilities," Loop CEO Rob Anson said in the release.
Loop's proprietary platform, which combines AI and the Internet of Things, allows brands and retailers to "connect their physical and digital assets regardless of hardware or information technology networks," the release noted. A beefed up version of Loop's offering would constitute an integrated solution for brick-and-mortar retailers.
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