Retail sector gets AI boost as Spacenet partners with Pathfinder
By India Today Business Desk: Spacenet Enterprises India Ltd, a key player listed on NSE, has signed a Memorandum of Understanding (MoU) with Chennai’s premier business analytics and generative artificial intelligence (AI) firm, Pathfinder Enterprise Solutions Pvt. Ltd.
Utilising the expanding scope of AI, this alliance is set to revolutionise the retail sector in India. A primary focus of this agreement is the integration of RETAILGPT, Pathfinder’s proprietary generative AI platform.
It will help bridge the gap between physical and digital retail, offering an AI-enabled digital commerce interface at shopping centers, airports and e-commerce platforms.
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By simplifying navigation and providing a personalised shopping experience, RETAILGPT is set to redefine retail business strategies and customer engagement.
Pathfinder’s RETAILGPT, powered by a ‘Phygital’ eco-system, has already made significant strides in digitally enhancing physical stores. It fosters direct engagement with shoppers, thus enabling retailers to establish a prominent digital presence while mitigating excessive commissions from online marketplaces.
What’s in it for shareholders?
Spacenet will also greatly benefit from this union. As a result of this merger, Spacenet shareholders will own shares in Pathfinder, empowering them to participate in an exponentially growing market and enjoy enhanced returns on investment.
The composite scheme of arrangement between Spacenet’s software division and Pathfinder will result in Pathfinder’s listing on the NSE, in accordance with applicable laws.
This merger, pending regulatory and shareholder approval, presents a unique opportunity for Spacenet shareholders to participate in the generative AI market.
The AI market is set to expand twentyfold by 2030 from its current value of $100 billion to an estimated $2 trillion. This surge underlines the significant potential for Spacenet shareholders post-merger, enabling them to stake their claim in a rapidly evolving landscape.
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In addition to the MOU, Spacenet and Pathfinder are also contemplating a merger of their software divisions. This consolidation is designed to maximise shareholder value, building a stronger entity capable of capturing a larger market share in the burgeoning AI sector.
“Today signifies a momentous step forward in Spacenet’s journey. As we align with Pathfinder, we’re not just merging companies – we’re combining our passions, talents, and revolutionary technologies. We’re setting the stage for a new era of retail, one where AI doesn’t replace human touch, but enhances it,” said D V S Prakash Rao, Executive Director at Spacenet.
“Pathfinder’s mission has always been to harness the power of AI to transform and improve the retail experience. Joining forces with Spacenet is a strategic step towards achieving this goal on a larger scale. This union allows us to reach new frontiers, integrating our state-of-the-art RETAILGPT platform across diverse markets,” said Sadique Ahmed, Managing Director at Pathfinder.
