A macro view of the COVID-19 local weather is a bit odd proper now, with President Donald Trump apparently breezing by way of his an infection, whereas New York Metropolis Mayor Invoice De Blasio shuts down 9 zip codes in Brooklyn and Queens due to a spike in coronavirus circumstances. Meaning extra so-called “non-essential” companies should soldier by way of extra financial strife and look to run much more effectively after they lastly can re-open their doorways.
With out extra federal stimulus, even these small-to-medium dimension enterprises (SMEs) which are allowed to remain open at some capability should work out the right way to run as lean as potential to maintain weathering this covid storm. For SMEs, using main applied sciences like Artificial Intelligence (AI) and Machine Studying (ML) is changing into crucial in all features of enterprise to maintain up with larger friends, however reasonably priced entry to AI/ML has usually been tough to acquire.
By way of the acquisition of DataNavee final month, digital safety token firm DigiMax World Options (CSE:DIGI) expanded operations into the Analytics as a Service (AaaS) market with the precise function of bringing AI/ML expertise to the thousands and thousands of SMEs in North America.
“In opposition to the backdrop of some stage of restrictive enterprise mandates abounding, the AaaS market is prospering, but it may be too dear for a lot of small firms to undertake into their each day operations,” commented DigiMax CEO Chris Carl in a cellphone dialog with AllPennyStocks.com. “We noticed the chance to satisfy a crucial enterprise want with the acquisition of DataNavee to offer predictive analytics to SMEs and stage the taking part in discipline with excessive greenback expertise at an reasonably priced value.”
DataNavee’s Auto AI combines proprietary ML predictive expertise to resolve widespread enterprise points resembling sustaining stock stage, invoicing, provide chain administration, gross sales forecasts and even investor predictions.
Firms right this moment have entry to an abundance of reasonably priced computing energy, however challenges stick with collating knowledge in actual time and subsequently analyzing it to make prescient selections for day-to-day enterprise features. DataNavee’s self-service platform is being designed to compute enterprise predictions with out the necessity for in-house knowledge scientists.
“We’re democratizing massive knowledge by constructing a wholly new paradigm to beat these challenges and doing so at an extremely low price for companies,” says Carl. The DigiMax chief expounded that whereas SMEs are the actual space of focus, the expertise is actually relevant for organizations of all sizes.
At first blush, the acquisition of DataNavee appears tangent to DigiMax’s flagship enterprise as a specialist within the rising market of digital safety tokens, digital contracts for a portion of any asset, albeit actual property, an organization, a commodity or one thing else of worth. A better look, nonetheless, reveals synergies the place DataNavee expertise can be utilized by issuers (an organization) and buyers in making correct and well-informed selections, which has follow-through in serving to to expedite funding offers.
Whereas it’s counterintuitive to see progress ensuing from a extremely contagious and doubtlessly lethal virus outbreak, the actual fact is that some applied sciences are booming which cater to the contactless life-style that we’re emerged in right this moment and for the foreseeable future. The identical goes for applied sciences that may assist firms stay aggressive with much less capital outlay and opex, like that DigiMax introduced beneath its umbrella in September.
Because it strikes ahead, DigiMax lately raised $1.2 million in personal placements, giving the corporate a money holding that’s almost half of its tiny $2.7-million market capitalization. Regardless of the headwinds thrown by COVID, DigiMax is nicely positioned to develop and assist many SME’s alongside the best way. We’re notably excited to see how the DataNavee sport altering acquisition will affect DigiMax’s backside line within the coming quarters and what it may imply for the corporate’s nonetheless miniscule share value going ahead.