- INEO ORCA Enhances Retailer Capabilities to Combat Organized
Retail Crime and Prevent Theft
SURREY,
BC, Sept. 27, 2023 /CNW/ - Surrey, BC – September
27, 2023 – INEO Tech Corp. (TSXV: INEO)
(OTCQB: INEOF) (the "Company" or "INEO"), the
developer and operator of the INEO Media Network, a digital
advertising and analytics solution for retailers, is proud to
announce a groundbreaking solution which harnesses the power of AI
to revolutionize video surveillance and combat organized retail
crime.
INEO ORCA, an acronym for Organized Retail Crime Alerts,
is INEO's latest AI-driven solution and it represents a monumental
leap forward in security and crime prevention. By leveraging
advanced computer vision and machine learning algorithms, the
latest feature of the patented INEO Welcoming System can
meticulously analyze stored CCTV footage, captured during loss
prevention events, enabling it to detect and recognize patterns
associated with organized retail criminal activities.
In today's rapidly evolving security landscape, retailers are
facing increasingly sophisticated threats from organized criminal
groups. Traditional security and surveillance methods are labor
intensive and often struggle to keep pace with these challenges,
making it imperative to adopt cutting-edge technology to protect
store merchandise.
Key benefits of the INEO ORCA AI-powered system include:
Threat Detection: INEO's AI technology can quickly
identify suspicious activities, unusual behavior, and potential
threats, allowing for immediate exception reports to be sent to the
stores for the store staff to act upon.
Pattern Recognition: The system learns and adapts to
detect organized retail crime patterns, such as repeated behaviors,
specific attire, or group formations, which often go unnoticed by
human operators.
Predictive Analytics: By analyzing historical video
from loss prevention alarm event data, INEOs ORCA system can
predict potential crime hotspots, allowing the retailers loss
prevention team to proactively allocate resources and prevent
criminal activities before they occur.
Cost-Effective Security: The implementation of
AI-driven surveillance can significantly reduce the need for
extensive manual monitoring, leading to cost savings for retailers
while enhancing security.
"INEO is committed to making retail a safer, more profitable
place through cutting-edge AI technology," stated Greg Watkin
Founder and President of INEO. "Adding the new INEO ORCA solution
empowers retailers to stay one step ahead of organized criminals,
safeguarding their merchandise and preserving profits. INEO ORCA is
another reason why the demand for the INEO Welcoming System keeps
growing."
INEO Tech Corp.
Per:
"Kyle Hall"
Kyle Hall, Chief Executive Officer
and Director
About INEO Tech
Corp. (TSXV: INEO; OTCQB: INEOF)
INEO Tech Corp., through its wholly owned subsidiary, INEO
Solutions Inc., operates the INEO Media Network, a digital
advertising and analytics solution for retailers. INEO's
patented technology integrates and monetizes digital screens with
theft detection sensor gates at the entrance of retail
stores. The Company's cloud-based platform uses IoT (Internet
of Things) and AI (Artificial Intelligence) technology to deliver
customized digital advertising to each retail location based on the
demographic mix, such as age and gender, of customer traffic at
each location. The Company also deploys the INEO Welcoming
Network technology through a SaaS-based solution to larger retail
chains. INEO is headquartered in Surrey, Canada and publicly traded on the
TSX-Venture Exchange under the symbol "INEO" and on the
OTCQB-Venture Market under the symbol "INEOF".
For more information please visit:
Website: www.ineosolutionsinc.com
LinkedIn:
www.linkedin.com/company/ineosolutions
Facebook: www.facebook.com/ineosolutionsinc
Instagram:
www.instagram.com/ineosolutionsinc
Twitter:
www.twitter.com/INEOsolutions
Forward-Looking
Statements
Investors are cautioned that, except as disclosed in the
disclosure document, any information released or received with
respect to the Company may not be accurate or complete and should
not be relied upon. Trading in securities of the Company should be
considered highly speculative.
This news release contains forward-looking information, which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectations. Important factors – including the availability of
funds, acceptance of the Company's products, competition, and
general market conditions – that could cause actual results to
differ materially from the Company's expectations are disclosed in
the Company's documents filed on SEDAR, including the Annual
Information Form for the year ended June 30,
2022 filed on SEDAR on November 4,
2022. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The Company disclaims any intention or
obligation, except to the extent required by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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SOURCE INEO Tech Corp.