Datametrex AI (TSXV: DM) this morning had another major news release, announcing that the firm has secured a sales contract with 7-Eleven Korea for robotic process automation infrastructure, a segment that will rely upon the firms artificial intelligence experience.
The announcement is significant for the company, given the current size of the convenience store chain within Korea. The chain is believed to have approximately 9,231 locations within the country, making it the third largest convenience store operator in the region. Further, the contract appears to come through the Lotte Group, whom owns 79.66% of the parent company of 7-Eleven Korea. The Lotte Group has been a notable partner for Datametrex, bringing numerous contracts to the firm across its seemingly endlessly different divisions.
For those that might be asking what robotic process automation is, RPA is a technology that streamlines enterprise operations while also reducing costs. It enables businesses to be able to automate often mundane tasks and business processes, freeing up employee time to better serve customers or conduct other higher-value work. The use of RPA’s can cover simple tasks, such as automatic email responses, to more complex tasks such as automatic complex business enterprise processes within ERP systems. The market for such tech is expected to reach $7.2 billion by 2025.
“At Datametrex, we continue our efforts to facilitate ground-breaking technologies to companies across the globe. Our technology is proven to be valuable to make sense of the data beyond complicated spreadsheets. We pride ourselves in providing tools that our clients can use to visualize their customer and stakeholder data. Through predictive analysis they can support their decision making, mitigate risk, and improve their bottom line.”Marshall Gunter, CEO
Contract details were not released.
Datametrex also announced this morning that it will be conducting an investor update webinar. The webinar is to take place next Tuesday, September 15, at 1:00 PM ET. Registration for the event can be completed here.
Datametrex AI last traded at $0.15 on the TSX Venture.
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