A Memorandum of Understanding (MoU) has been struck by Pathfinder Enterprise Solutions Pvt. Ltd., Chennai’s leading provider of business analytics and generative artificial intelligence (AI), and Spacenet Enterprises India Ltd., a significant participant listed on the NSE.
In-depth details about AI boost for the retail sector thanks to Spacenet and Pathfinder’s partnership
This cooperation is poised to transform the Indian retail industry by utilizing the growing potential of AI. The integration of RETAILGPT, Pathfinder’s exclusive generative AI platform, is a key emphasis of this cooperation.
It will provide an AI-enabled digital commerce interface at shopping malls, airports, and e-commerce platforms, bridging the gap between physical and digital retail.
Redefining retail business tactics and customer involvement, RETAILGPT makes navigation simple and offers a personalized buying experience.
With the help of a “Phygital” eco-system, Pathfinder’s RETAILGPT has already made tremendous progress in improving physical stores digitally. It encourages direct interaction with customers, allowing retailers to build a strong online presence while reducing bloated commissions from online marketplaces.
This union will be very advantageous for Spacenet as well. Due to this merger, Spacenet stockholders will hold shares in Pathfinder, enabling them to participate in a market that is rapidly expanding and benefit from higher returns on their investments.
In compliance with applicable legislation, the composite scheme of arrangement between Pathfinder and Spacenet’s software division will lead to Pathfinder’s listing on the NSE.
This transaction offers Spacenet shareholders a one-of-a-kind opportunity to enter the generative AI sector, subject to regulatory and shareholder approval.
By 2030, the $100 billion AI business is expected to grow twenty times to a projected $2 trillion market. This increase highlights the substantial potential for Spacenet shareholders following the merger, allowing them to stake their position in a market that is changing quickly.
Along with the MOU, Spacenet and Pathfinder are thinking about combining their software departments. The goal of this merger is to increase shareholder value by creating a more powerful organization that will be able to take a bigger market share in the developing AI industry.
“Today marks a significant development in Spacenet’s journey. We’re not simply uniting businesses when we join with Pathfinder; we’re also combining our revolutionary technology, abilities, and interests. We’re paving the way for a new era of retail, one in which artificial intelligence (AI) complements rather than replaces human interaction, according to Spacenet Executive Director D V S Prakash Rao.
The goal of Pathfinder has always been to use AI to revolutionize and enhance the shopping experience. The strategic decision to collaborate with Spacenet will help us reach this objective on a greater scale. With the integration of our cutting-edge RETAILGPT platform across several marketplaces, this combination enables us to explore new territories, according to Sadique Ahmed, Managing Director at Pathfinder.
