HUMBL Inc (OTCMKTS:HMBL) Stock Gains Momentum: Here is Why

Yesterday HUMBL Inc (OTCMKTS:HMBL) was in the news after it announced that it had launched its artificial intelligence and automated machine learning initiatives across its commercial, consumer, and Latin American business units. The company announced that on the commercial side, it managed to bag its first sales contract for its HUMBL Latin America subsidiary.

HUMBL Launches Artificial Intelligence and Automated Machine Learning Initiatives Across Consumer, Commercial and Latin America

As per the provisions of the contract, the company would sell its AI/Automated machine learning services to a major information technology/telecom provider in Latin America for a $60,000 contract for the initial deliverables. Over the course of three years, the value of the contract is going to be $195,000. However, the valuation would also depend on the achievement of certain milestones from HUMBL Latin America.

The Chief Executive Officer of the company Brian Foote noted that artificial intelligence is going to be an accelerating factor in the growth of web3. The company seeks to provide its clients with AI services so that they can create models for predictive outcomes. At this point, the company is working on the testing of its consumer AI initiatives and also testing its virtual assistant named ‘Hey Blue’. It is going to be interesting to see if the stock gets any traction or not.