Combining AI and Geospatial data to enable marketers to thrive in a privacy focused world
TORONTO, ON / ACCESSWIRE / March 10, 2021 / EQ Inc. (TSXV:EQ) ("EQ Works" or "EQ"), a leader in geospatial data and artificial intelligence ("AI") is pleased to announce the launch of ATOM NEXT, the first Canadian geospatial cohort-based audience platform. Derived from over a petabyte of Canadian consumer geospatial data from EQ's data platform (LOCUS), ATOM NEXT enables marketers to reach their target audiences with confidence and precision in a privacy-focused world.
While the abundance of available data has fueled the growth of digital advertising as a one-to-one medium, for the last five years EQ has been steadily preparing for a world of data changes by investing in data science, machine learning, and AI technologies and capabilities. "Training AI models requires time and data, it cannot be done overnight," said Dilshan Kathriarachchi, Chief Technology Officer of EQ Works. "We set out initially to build a set of technologies that made the most out of geospatial data -- which is the greatest predictor of consumer propensities and behaviors. Geospatial data is inherently cohort based - where people live, work, shop, and play - which is now proving to be more valuable to marketers than ever before."
"ATOM NEXT is perfectly positioned to meet the needs of the advertising world as it moves to more of a cohort model of audience targeting" said Joe Strolz, Chief Operating Officer of EQ Works. "Cohort models protect user privacy by aggregating them into larger, more anonymized groups. Marketers need tools that provide high-confidence predictions about the relevance of one audience cohort versus another, which is what our machine learning and AI models have been trained to solve."
Technology changes that are underway with Google's Chrome and Android platforms and Apple's iOS and Safari systems are changing the way the advertising industry operates. ATOM NEXT provides the tools and technology to execute cohort- based strategies that allow marketers to continue to deliver the right consumer, with the right message, at the right time. With technology rapidly changing and privacy becoming a primary focus, ATOM NEXT is proving to be a powerful tool for marketers working with brands and agencies to address their needs as the landscape continues to evolve.
Engagement of Investor Relations Consultant:
The Company is also pleased to announce that, subject to the approval of the TSX Venture Exchange (the "Exchange"), it has entered into a consulting agreement with Venture North Capital Inc. ("Venture North") to provide strategic marketing, investor relations and business consulting services. Venture North is a Toronto based capital markets consulting firm specializing in executing strategic investor outreach campaigns.
The agreement with Venture North has an initial term of 6-months and, if renewed, will be automatically renewed for 3-month terms until such time as it is terminated on 60 days' notice. Pursuant to the terms of the consulting agreement, the Company will pay a monthly cash fee of $7,000 (plus HST) and has agreed to issue 100,000 options to purchase common shares of the Company ("Common Shares"), with an exercise price at $1.75. Of the options issued to Venture North, 25,000 shall vest immediately and an additional 25,000 options will vest quarterly in arrears.
ABOUT EQ WORKS:
EQ Works (www.eqworks.com) enables businesses to understand, predict, and influence customer behaviour. Using unique data sets, advanced analytics, machine learning and artificial intelligence, EQ Works creates actionable intelligence for businesses to attract, retain, and grow the customers that matter most. The Company's proprietary SaaS platform mines insights from movement and geospatial data, enabling businesses to close the loop between digital and real-world consumer actions.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. The Corporation is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
EQ Inc.
Peter Kanniah
Chief Financial Officer
416.260.4326
press@eqworks.com
EQ Inc.
Bill Mitoulas
Investor Relations
416.479.9547
investor@eqworks.com
SOURCE: EQ Inc.
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https://www.accesswire.com/634564/EQ-Works-launches-Canadas-First-Geospatial-Cohort-Based-Audience-Platform
