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By Meg Flippin, Benzinga
Alpha Modus Holdings Inc. (NASDAQ: AMOD), the developer of AI-driven advertising solutions for the retail market, secured its 9th patent, further advancing its offering in the multi-billion dollar industry. With e-commerce taking off, retailers need ways to engage consumers in-store and are increasingly turning to artificial intelligence-driven solutions like the ones from Alpha Modus to help.
Alpha Modus’ latest patent, 12,175,484 titled “Methods for Personalized Marketing and Advertising” covers techniques that leverage artificial intelligence to deliver real-time, tailored marketing and advertising experiences at the point of decision-making. When shoppers are in-store, Alpha Modus’ technology is able to analyze consumer behavior and product interaction in real-time. This enables businesses to adjust their marketing strategies to meet the needs of consumers at the moment they are making a purchasing decision.
Alpha Modus’ solutions use information monitoring devices, like video image devices, to gather data about shoppers. This data includes demographic characteristics such as gender and age, sentiment and tracking details like movement and eye tracking. Alpha Modus is then able to analyze the data in real-time and provide various responses, such as targeted marketing, personal engagement or offering coupons to enhance the shopping experience. This targeted advertising is delivered at the point of sale via kiosks, checkout, end caps and digital displays. Outside of the store, the targeting continues on the radio, via mobile devices and during navigation online. All of it is intended to help retailers boost sales and build loyalty.
Cementing Its Place
The latest patent expands Alpha Modus’ AI technology and addresses what the company says is the growing demand for personalized consumer engagement, a critical factor in the $20 billion global AI-driven retail market. It is an industry projected to grow at a CAGR of 25% over the next five years, according to a report by Fortune Business Insights. Driving the growth is the move by retailers and brands across the world to implement AI technology for optimizing automation in retail stores.
In addition to its digital advertising technology, Alpha Modus’ patents cover a new system for real-time inventory management, marketing and advertising within a retail store setting. Alpha Modus recognized that there existed a gap in the brick-and-mortar retail sector’s ability to provide real-time, personalized experiences to customers, a feature commonly leveraged by online retailers. The company’s patent provides a method and system that bridges this gap by utilizing technology to analyze consumer behavior and dynamically adjust marketing and inventory strategies accordingly.
All told, the company is going after what it pegs as a multibillion-dollar opportunity. By 2027 the retail media ad sales market in the U.S. will reach $106 billion while U.S. digital influenced retail sales will top $3.8 trillion.
"We are thrilled to announce the issuance of our latest patent, which underscores Alpha Modus's unwavering commitment to innovation in artificial intelligence," said William Alessi, CEO of Alpha Modus. "This milestone not only enhances our growing intellectual property portfolio but also reinforces our dedication to revolutionizing the in-store digital experience for consumers. We look forward to leveraging this breakthrough to create even greater value for our shareholders as well as our partners and customers in the retail space."
Protecting Its IP
The patent comes at a time when Alpha Modus is taking steps to protect its intellectual property from infringement, recently filing a patent infringement lawsuit against Wakefern Food Corporation, which has 48 member companies that own and operate 365 supermarkets under the ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage and Fairway Market brands. Wakefern says it’s a leader in providing retailers with targeted digital media advertising and content delivered at the point of purchase. Alpha Modus contends Wakefern infringed on several Alpha Modus patents covering retail marketing and advertising data-driven technologies to enhance consumers’ in-store experience at the point of decision.
Alpha Modus already has prior patent infringement actions against The Kroger Company and Brookshire Grocery Company. For all of its litigation Alpha Modus says it tapped Christopher E. Hanba of Dickinson Wright PLLC, a global law firm, for his legal expertise, technical industry knowledge and deep experience with enforcing intellectual property rights. Alpha Modus is serious about enforcing its patents and ensuring companies aren’t infringing on its IP.
Targeting consumers in-store with digital ads seems to be the next frontier in AI-driven advertising. It's a big market just taking off and Alpha Modus is working hard to be at the forefront. With nine patents and more in the works, Alpha Modus isn’t done leveraging AI to innovate in this space. To learn more about the company’s digital advertising technology, click here.
Featured photo by Simon Kadula on Unsplash.
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