Loop Insights Inc (CVE:MTRX) (OCTMKTS:VRZPF), a provider of artificial intelligence solutions, said Friday that it has “accelerated conversations” for the implementation of its coronavirus (COVID-19) contact tracing solution with government officials, and live event and stadium operators in North America, Australia, Indonesia, and the UK.
The Vancouver-based technology company launched an automated contact tracing platform in June to support coronavirus government mandates that require business owners to collect and store customer contact information for a 30-day period.
Loop said it has the ability to “seamlessly integrate” and enhance businesses' existing solutions. With its SIM-enabled connectivity, and compatibility with up to forty languages, Loop's contact tracing platform supports fast, scalable deployment anywhere in the world.
In a statement, Loop CEO Rob Anson said: "Receiving this level of interest across verticals and geographical borders is a true testament to Loop's unique IoT connectivity capabilities.”
He added: “Our core technology has always been built on automation, simplicity and usability. To be able to support the health, safety, and economic recovery of communities is incredibly motivating. Our opportunity to expand Loop's global reach has never been greater."
Loop’s contact tracing solution is aimed at the economies of some 188 nations as they work towards putting proper protocols and mandates in place ahead of a second coronavirus wave.
For government contracts, Loop will gain revenue from onboarding fees per location, an annual software licensing fee with managed service, and ongoing revenue from active user fees. For private venue operators, the company said the revenue will stem from onboarding fees, monthly software-as-a-service (SaaS) fees, and ongoing active user fees.
Loop COO Gavin Lee added: "Loop strongly supports the continuation of physical distancing and its implementation in business operations. We understand the need to kickstart economies, but in order to instill confidence back into sports venue and other hospitality experiences, systems must be in place to protect both staff and customers."
Combining Loop's IoT and artificial intelligence capabilities with wallet pass technology, creates a digital Covid-19 Contact Card (stored in an Apple or Google wallet). Users simply tap their mobile device to check in, said the company.
“Check-ins are tracked based on time and location; and if an outbreak is recorded, the platform can provide real-time notifications to an unlimited number of users,” said the company.
Loop’s automated solution is contactless, fast, accurate and scalable and for those reasons, it is well positioned for global scale.
Contact the author Uttara Choudhury at [email protected]
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