VANCOUVER, BC, Aug. 4, 2020 /CNW/ - Loop Insights Inc.
(TSXV: MTRX) (the "Company" or "Loop"), a provider of contactless
solutions and artificial intelligence ("AI") to drive automated
marketing, contact tracing, and contactless solutions to the brick
and mortar space explains how the Loop Insights Contact Tracing
Platform is complementary to the government's "COVID Alert"
App.
In recent and ongoing conversations with various levels of
government in Canada
(collectively, the "Governments"), each confirmed their full
support and commitment to the implementation of various Covid-19
contact tracing and awareness solutions, among those being
considered is Loop's technology. The Governments' key
decision-makers acknowledged that for successful management of
COVID-19 through technology, several solutions are required to
operate simultaneously in order to cover all the potential
scenarios. There is an ever increasing sense of urgency to
implement contact tracing systems, solutions and plans, not only
for the Governments, but also for business, employers, unions and
educational facilities to name a few.
How Does Loop Enhance the Governments' "COVID
Alert" App
The biggest single challenge with all current contact tracing
apps is adoption (i.e., downloading) by the general public and
without widespread adoption, the effectiveness of any such app is
very limited. Resistance to adoption is similar to many
downloadable apps including privacy concerns, data usage,
smartphone storage limits, continuous location tracking, having to
download updates, unwanted notifications and smartphone battery
usage due to continuous Bluetooth activation. Additionally, current
app options are less effective in industries such as education,
industrial labor sites, some union job sites and in some mining
jobs because, in many cases, mobile phones are not permitted or
used onsite.
What distinguishes Loop's Contact Tracing Solution from the
apps and what makes it more attractive is the fact that is not an
app at all and therefore does not face the same adoption
challenge as app-based solutions. This is expected to result
in a far greater adoption rate and, as stated above, the higher the
adoption rate, the higher the effectiveness of any solution. Loop's
check-in solution is potentially a perfect solution for all sectors
and potential uses, including those difficult ones referred to
above because the check-ins can be done on a mobile phone as well
as through a Near Field Communication enabled ID card or bracelet.
Loop is positioned to provide a highly scalable solution that would
automate current contract tracing legislation and replace the
current pen and paper data collection and current proposed
app-based solutions. The timely need for Loop's solution can be
seen in the company's accelerated discussions with major retailers,
agencies, and Governments.
CEO Rob Anson: "Contact
tracing and management is about widespread adoption,
connectivity/coverage, data management and necessary and relevant
alert notifications. The Governments have done an exemplary job in
the launch of their COVID-19 Alert app. Loop is elated to
have met with Government representatives in this regard and look
forward to continued discussions regarding a technology
relationship with the Governments to among other things, assist in
the effort to stop the spread of Covid-19. We concur that for
contact tracing to be successful, there will need to be numerous
solutions. As such, we have developed our proprietary solution in a
manner that is expected to enable our Loop platform to easily
connect to, complement and enhance any current and future
solutions, whether app-based or otherwise. Loop has been catching
the eye of those seeking solutions with our AI and automated data
applications."
Loop's Focus is on the Return to School and Solutions for the
Public Workplace.
The Loop Platform provides a versatile, highly scalable managed
process that is expected to aid in the safe reopening of schools,
businesses and public facilities. There is now a great
responsibility for employers, from an HR perspective, to provide a
process that ensures that their members are being protected. Loop
is poised to deliver solutions that protect the health and safety
of the student body, teachers, staff as well as visitors. For
example, providing a check-in solution that is designed to keep
children safe from the time they step on the school bus, throughout
their day, to when they return home. The Loop platform is expected
to provide an alternate process to gain better access and coverage
in the public work sector and eliminate some of the current
challenges with schools, unions, environment, adoption and
connectivity.
The Future of Loop after COVID-19
Governments and decision-makers are looking to invest in
future-proof solutions that can continue providing value after
Covid-19 rather than simply a short-term, Covid-19 specific
Band-Aid. Loop continues to be focused on long-term bricks and
mortar retail and other land-based data collection and use
solutions. As COVID-19 will eventually disappear, Loop's most
significant benefit is that its contact tracing platform can create
a gateway for businesses to access new retail solutions,
contactless NFC user experiences and digital transformation. Loop
is well-positioned to play a big part in laying the foundation and
creating the expectation of what is the "new normal."
This Press Release Is Available On The Loop Insights Verified
Forum On AGORACOM For Shareholder Discussion and
Q&A https://agoracom.com/ir/LoopInsights/forums/discussion
About Loop Insights: Loop Insights Inc. is a Vancouver-based Internet of Things ("IoT")
technology company that delivers transformative artificial
intelligence ("AI") automated marketing, contact tracing, and
contactless solutions to the brick and mortar space. Its unique IoT
device, Fobi, enables data connectivity across online and
on-premise platforms to provide real-time, detailed insights and
automated, personalized engagement. Its ability to integrate
seamlessly into existing infrastructure, and customize campaigns
according to each vertical, creates a highly scalable solution for
its prospective global clients that span industries. Loop Insights
operates in the telecom, casino gaming, sports and entertainment,
hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
Forward-Looking Statements/Information:
This news release contains certain statements which
constitute forward-looking statements or information. Such
forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond Loop's control, including
the impact of general economic conditions, industry conditions, and
competition from other industry participants, stock market
volatility and the ability to access sufficient capital from
internal and external sources. Although Loop believes that the
expectations in its forward-looking statements are reasonable, they
are based on factors and assumptions concerning future events which
may prove to be inaccurate. Those factors and assumptions are based
upon currently available information. Such forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that could influence actual results or events and
cause actual results or events to differ materially from those
stated, anticipated or implied in the forward-looking statements.
As such, readers are cautioned not to place undue reliance on the
forward-looking statements, as no assurance can be provided as to
future results, levels of activity or achievements. The
forward-looking statements contained in this news release are made
as of the date of this news release and, except as required by
applicable law, Loop does not undertake any obligation to publicly
update or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise.
The forward-looking statements contained in this document are
expressly qualified by this cautionary statement. Trading in
the securities of Loop should be considered highly
speculative. There can be no assurance that Loop will be able to
achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE LOOP Insights Inc.