Strategic alliance drives the way forward for retail by adopting applied sciences that carry clever avatars utilizing AI, AR and VR for concierge providers to stores

HONG KONG & PASADENA, Calif.–(BUSINESS WIRE)–January 9, 2018–

ObEN Inc., a man-made intelligence (AI) firm that’s constructing a decentralized AI platform for clever avatars, right now introduced that it has raised $10 million from Okay11, based by entrepreneur Adrian Cheng. This strategic funding continues the expansion of ObEN’s AI know-how which permits customers to shortly create a Personal AI, an clever 3D avatar that’s authenticated and registered on the blockchain. This brings ObEN’s complete funding thus far to greater than $23.7 million.

This press launch options multimedia. View the total launch right here: http://www.businesswire.com/information/house/20180109005393/en/

The flagship Shanghai K11 Art Mall (Photo: Business Wire)

The flagship Shanghai Okay11 Art Mall (Photo: Business Wire)

The funding from Okay11 will drive product growth, deployment on the blockchain, and can assist ObEN combine their know-how in retail, actual property and hospitality functions.

“ObEN is on the forefront of making clever avatars that improve the patron expertise,” says Nikhil Jain, co-founder and CEO of ObEN. “With this strategic funding from Okay11, we’re capable of attain hundreds of thousands of recent clients and create experiences that may form the way forward for retail.”

Okay11, the brainchild of entrepreneur and enterprise innovator Adrian Cheng, is a pioneering multi-faceted model rooted in tradition and interconnected by three core values: artwork, nature and other people. Its ecosystem options the world’s first museum-retail idea, Okay11 Art Mall. Its Hong Kong and Shanghai flagships opened in 2009 and 2013 respectively. ObEN marks the first AI know-how funding from the corporate.

Motivated by the assumption that the way forward for retail lives within the worlds of AI, AR and VR, the strategic alliance gives alternatives for clever avatars, private concierge providers and new digital procuring experiences. ObEN’s Personal AI (PAI) shortly creates a 3D avatar that appears, sounds and behaves just like the consumer, and may do issues on their behalf. Furthermore, ObEN’s PAI is being deployed on the blockchain, which gives an unprecedented stage of safety.

With a PAI concierge, clients are supplied up-to-the-minute info, retail guides and infinite procuring ideas to assist hold every outing as fulfilling as attainable. In addition, by initiatives like AI Stars, a three way partnership between ObEN and S.M. Entertainment, celebrities will have the ability to create distinctive cross cultural experiences for customers and stores alike.

“ObEN’s Personal Artificial Intelligence (PAI) platform simplifies the implementation of synthetic intelligence applied sciences for actual life functions,” mentioned Adrian Cheng, founding father of Okay11. “Okay11 is dedicated to localizing the PAI platform and bringing an immersive AI expertise for guests in any respect Okay11 initiatives.”

ObEN’s Personal AI know-how can be obtainable in early 2018. Learn extra at projectpai.com.

About ObEN

ObEN is a man-made intelligence (AI) firm that’s constructing a decentralized AI platform for clever avatars, enabling by no means earlier than attainable social and digital interactions. The firm’s know-how permits customers to create clever 3D avatars that look, sound, and behave like them. Deployed on the blockchain, ObEN’s Personal AI (PAI) know-how permits customers to create, use, and handle their very own PAI on a safe, decentralized platform. Founded in 2014, ObEN is a Tencent, Softbank Ventures Korea and HTC Vive X portfolio firm and is situated at Idealab in Pasadena, California. To be taught extra about ObEN, please go to oben.com.

About Okay11 and Okay11 Investment

Okay11 was based in 2008 by entrepreneur and enterprise innovator Adrian Cheng. The pioneering multi-faceted model is rooted in tradition and interconnected by three core values: artwork, nature and other people. Its ecosystem of enterprise, cultural, technological and charitable enterprises is a manifestation of the founder’s fixed seek for methods to disrupt stagnant industries, and foster cross-cultural dialogues. It spans a big selection of touchpoints: the world’s first museum-retail idea Okay11 Art Malls; its state-of-the-art workplace areas, Okay11 Ateliers; its open schooling platform, Okay11 Kulture Academy; the curated Okay11 Design Stores; the Terrarium-inspired transformative retail area Okay11 Natural; and Okay11 Art Foundation, China’s first non-public not-for-profit to incubate Chinese artists and curators. By 2023 the model can have gained a footprint in 9 cities in Greater China.

Okay11 is the funding arm of New World Development – a Hong Kong-based conglomerate of which Cheng is Executive Vice-chairman and General Manager. Its companies vary from actual property and retail, to hospitality. Among Okay11’s rising portfolio is DayDayCook, China’s most profitable on-line cooking channel, with over 200 million month-to-month views. DayDayCook’s first experiential studio opened in Shanghai Okay11 Art Mall in December 2017.

ObEN
Jeff Hare
(+1) 818.726.9238
jeff@oben.com
or
Okay11
Lisa Tam
+852 2844 3221
lisatam@nwd.com.hk

This article sources info from VentureBeat