A macro view of the COVID-19 climate is a bit odd right now, with President Donald Trump apparently breezing through his infection, while New York City Mayor Bill De Blasio shuts down nine zip codes in Brooklyn and Queens because of a spike in coronavirus cases. That means more so-called "non-essential" businesses will have to soldier through more economic strife and look to run even more efficiently when they finally can re-open their doors.
Without more federal stimulus, even those small-to-medium size enterprises (SMEs) that are allowed to stay open at some capacity will have to figure out how to run as lean as possible to keep weathering this covid storm. For SMEs, utilizing leading technologies like Artificial Intelligence (AI) and Machine Learning (ML) is becoming critical in all aspects of business to keep up with bigger peers, but affordable access to AI/ML has generally been difficult to obtain.
Through the acquisition of DataNavee last month, digital security token company DigiMax Global Solutions (CSE:DIGI) expanded operations into the Analytics as a Service (AaaS) market with the specific purpose of bringing AI/ML technology to the millions of SMEs in North America.
"Against the backdrop of some level of restrictive business mandates abounding, the AaaS market is thriving, yet it can be too pricey for many small companies to adopt into their daily operations," commented DigiMax CEO Chris Carl in a phone conversation with AllPennyStocks.com. "We saw the opportunity to meet a critical business need with the acquisition of DataNavee to provide predictive analytics to SMEs and level the playing field with high dollar technology at an affordable price."
DataNavee’s Auto AI combines proprietary ML predictive technology to solve common business issues such as maintaining inventory level, invoicing, supply chain management, sales forecasts and even investor predictions.
Companies today have access to an abundance of affordable computing power, but challenges persist with collating data in real time and subsequently analyzing it to make prescient decisions for day-to-day business functions. DataNavee’s self-service platform is being designed to compute business predictions without the need for in-house data scientists.
"We’re democratizing big data by building an entirely new paradigm to overcome those challenges and doing so at an incredibly low cost for businesses," says Carl. The DigiMax chief expounded that while SMEs are the particular area of focus, the technology is certainly applicable for organizations of all sizes.
At first blush, the acquisition of DataNavee seems tangent to DigiMax’s flagship business as a specialist in the emerging market of digital security tokens, digital contracts for a portion of any asset, albeit real estate, a company, a commodity or something else of value. A closer look, however, reveals synergies where DataNavee technology can be used by issuers (a company) and investors in making accurate and well-informed decisions, which has follow-through in helping to expedite funding deals.
While it is counterintuitive to see progress resulting from a highly contagious and potentially deadly virus outbreak, the fact is that some technologies are booming which cater to the contactless lifestyle that we are emerged in today and for the foreseeable future. The same goes for technologies that can help companies remain competitive with less capital outlay and opex, like that DigiMax brought under its umbrella in September.
As it moves forward, DigiMax recently raised $1.2 million in private placements, giving the company a cash holding that is nearly half of its tiny $2.7-million market capitalization. Despite the headwinds thrown by COVID, DigiMax is well positioned to grow and help many SME’s along the way. We are particularly excited to see how the DataNavee game changing acquisition will impact DigiMax’s bottom line in the coming quarters and what it could mean for the company’s still miniscule share price going forward.
