Remark Holdings, Inc. announces Sales and Development partnership with WaitTime, a core partner of Cisco and Intel, targeting crowd-behavior analytics
LAS VEGAS, May 17, 2023 /PRNewswire/ -- Remark Holdings, Inc. (Nasdaq: MARK), a leading provider of artificial intelligence ("AI") - powered video analytics solutions, today announced a strategic sales and development partnership with WaitTime, a core partner of Cisco and Intel, targeting crowd-behavior analytics.
WaitTime's AI software provides real-time data and historical analytics on crowd behavior, giving operations personnel live information on crowd movement and density while providing guests the information they need to navigate a venue and the information on important data such as queue times at concession stands and bathroom wait times, as well as entry and exit times to provide for the best guest experience possible with end users accessing this information directly from the venue's general customer APP.
"We are excited to combine forces with WaitTime to augment their award-winning crowd intelligence analytics with Remark's Smart Safety Platform," commented Kai-Shing Tao, CEO of Remark. "WaitTime's successful sales and distribution partnerships with Intel and Cisco open up a robust sales channel for both companies to market and sell to, providing value for our mutual customers while expanding upon recent wins with sporting venues such as the Miami Heat Arena, Denver Broncos Stadium and retail shopping centers such as the Mall of Americas."
Zach Klima, Founder and CEO of WaitTime, comments, "We are delighted to combine our industry-leading crowd intelligence analytics with the additional power of Remark's Smart Safety Platform. Remark's deep relationships with the local Las Vegas gaming, law enforcement, and education markets and its international customer base in Asia, Latin America, and the United Kingdom, makes for an ideal partnership."
Remark's advanced AI-powered Smart Safety Platform expands upon the metadata gathered by WaitTime to include additional valuable analytics such as gender and age identification, object detection, and consumer bag counts, allowing the venue operator to better analyze behavioral patterns and matching it with customer purchasing data thereby creating a more detailed customer profile to market to. In addition, Remark's Smart Safety Platform includes important security features such as loitering, intrusion, and banned customer detection while providing real-time alerts for possible security threats, allowing the analysis of both live and archived video footage at scale and speed. Meaningful intelligence from extracted video data can be searchable, actionable, and quantifiable, resulting in an immediate return on investment for clients wanting to increase their operational efficiency and safety.
About Remark Holdings, Inc.
Remark Holdings, Inc. (Nasdaq: MARK) , the industry leader in AI powered analytics computer vision solutions, delivers an integrated suite of AI-solutions that help organizations understand their customer demographics and behavior, while monitoring, understanding and acting on potential security threats in real time. Remark consists of an international team of sector experienced professionals that have created award winning video analytics. The company's GDPR-compliant and CCPA-compliant solutions focus on sectors including government agencies, hospitality, public safety, retail and transportation. The company's headquarters are in Las Vegas, Nevada, USA, with operational offices in New York and international offices in London, England. For more information, please visit our product portfolio at www.remarkvision.com and home page at www.remarkholdings.com
About WaitTime
WaitTime, the industry leader in crowd intelligence, provides real-time data and historical analytics on crowd behavior. The company's patented artificial intelligence gives operations personnel real-time information on crowd movement and density while providing guests the information they need to navigate efficiently, thereby improving the customer experience.
Forward-Looking Statements
This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulations. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in the future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions, and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.
Company Contacts
Fay Tian
Vice President of Investor Relations
F.Tian@remarkholdings.com
(+1) 626-623-2000
(+65) 8715-8007
View original content to download multimedia:https://www.prnewswire.com/news-releases/remark-holdings-inc-announces-sales-and-development-partnership-with-waittime-a-core-partner-of-cisco-and-intel-targeting-crowd-behavior-analytics-301826977.html
SOURCE Remark Holdings, Inc.
