07:43:30 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Ineo Tech Corp
Symbol INEO
Shares Issued 76,143,709
Close 2023-09-27 C$ 0.065
Market Cap C$ 4,949,341
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Ineo Tech releases AI crime alert software

2023-09-27 10:30 ET - News Release

Mr. Kyle Hall reports

INEO RELEASES REVOLUTIONARY AI TECHNOLOGY

Ineo Tech Corp. has released a groundbreaking solution that harnesses the power of AI (artificial intelligence) 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 (closed-circuit television) 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 labour 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 behaviour 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 behaviours, specific attire or group formations, which often go unnoticed by human operators.
  • Predictive analytics: By analyzing historical video from loss prevention alarm event data, the Ineo Orca system can predict potential crime hot spots, allowing the retailer's loss prevention team to pro-actively 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."

About Ineo Tech Corp.

Ineo Tech, 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 software-as-a-service-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.

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