- INEO ORCA Enhances Retailer Capabilities to Combat Organized Retail Crime and Prevent Theft
Surrey, BC – September 27, 2023 – INEO Tech Corp. (TSX-V: 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“.
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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.
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Investor Relations, INEO Tech Corp.