VANCOUVER, BC, Feb. 6, 2024 /CNW/ – infinitii ai inc. (“infinitii ai”, the “Company”) (CSE:IAI) (FSE: 7C5) (OTC:CDTAF) has secured a professional services contract in a new market vertical with Inverite Insights Inc. (“Inverite”). Vancouver-based Inverite (CSE:INVR) (OTC:MRBLF) (FSE: 2V0), is a leading AI-driven software provider that leverages real-time financial data for businesses to better transact with consumers.
“We are pleased to engage with Inverite, a market leader in financial verification and data enrichment solutions to develop new data models and increase its AI capabilities,” stated infinitii ai CEO Jean Charles Phaneuf. “This project validates the versatility of our AI expertise and the transferability of our machine learning technology as we expand into new vertical markets.”
Inverite is contracting with infinitii ai to develop machine learning capabilities and new data models based on algorithms that predict probability to repay and/or likelihood to default on loan applicants. The contract encompasses professional services, continuous maintenance, optimization, and solution development fees. Additionally, the contract licenses infinitii ai’s intellectual property, establishing a new source of recurring revenue outside its traditional smart city and industry infrastructure markets.
“infinitii ai has an excellent reputation for building AI-driven software leveraged by large enterprise customers across North America,” stated Karim Nanji, Inverite’s CEO. “Our companies will work together in close collaboration to accelerate our data science and AI initiatives to further empower business and consumers to make well-informed financial decisions in an Open Banking environment.”
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