Shares of OM Holdings International Inc (OTCMKTS: OMHI) fell 8%, a day after the owner and operator of the OneMart super merchandising stores announced a new patent application. The application covers methods and systems that can be used to provide business-to-consumer on-demand services while using artificial intelligence.
The method and systems covered in the patent application are crucial to OM Holdings International Inc.’s push to fulfil its vision of becoming a leading distributor of goods and services in the Caribbean. It also comes on the company’s heels, inking a 20-year exclusive agreement for Rydeum’sDoGetGo App covering the $4.6 billion food delivery and taxi market.
The company intends to launch the application in 28 Caribbean countries over the next five years. The methods covered in the patent should help the company address some of the objectively managing end-user experience problems.
OM Holdings International Inc. plans to leverage artificial intelligence technology to learn from previous on-demand services in a bid to enhance its service offerings. It also intends to generate risk/performance scores that can anticipate future consumer experiences and improve them.
Market Reaction:
On Thursday, OMHI stock fell 8.26% at $1 with more than 1.6K shares, compared to its average volume of 7.44k shares. The stock has moved within a range of $0.9225 – 1.0900 after opening the trade at $1.05.
