CloudCommerce Adds Critical Artificial Intelligence (AI) Component

Rhea-AI Summary

CloudCommerce, Inc. (CLWD) has entered a license agreement with WRENCH.AI to enhance its AI-enabled SWARM platform. This collaboration aims to speed up the development of SWARM and significantly lower advertising costs by utilizing WRENCH.AI’s machine learning and personalized marketing capabilities. The SWARM platform will integrate features like data discovery, dynamic creative, and performance tracking to optimize digital advertising efforts and improve targeting accuracy.

Positive

• Collaboration with WRENCH.AI to enhance SWARM platform.
• Focus on reducing advertising costs through AI technology.
• Integration of advanced features like data discovery and performance tracking.

Negative

• None.

License agreement with WRENCH.AI will speed the development of the Company’s AI-enabled SWARM platform and help reduce the cost of advertising

SAN ANTONIO, Feb. 18, 2021 (GLOBE NEWSWIRE) -- CloudCommerce, Inc. (CLWD), a leading provider of digital advertising solutions, today announced that it has entered into a license agreement with WRENCH.AI to use its AI-driven customized personalization engine to enhance the Company’s AI-enabled SWARM platform. Adding this critical component will allow the Company to speed the development of SWARM to dramatically reduce the cost of advertising.

“Using machine learning and artificial intelligence, WRENCH.AI makes it easier for advertisers to harness the power of their data to automate the process of creating personas to optimize marketing and advertising efforts,” said Andrew Van Noy, the Company’s CEO. “Our licensing agreement with WRENCH.AI, will allow us to further develop SWARM to integrate with customer relationship management (CRM) tools to translate the data into insights that will help inform the creative direction in order to deliver highly targeted and personalized ads.”

Mr. Van Noy concluded, “This is a very important step forward in our AI development plan. It is very difficult to put a pencil to paper and calculate the time and money saved by working with WRENCH.AI. Our goals are in sync. CloudCommerce and WRENCH.AI are committed to using artificial intelligence to increase efficiency and reduce the cost of advertising.”

The Company is developing SWARM into the first fully integrated AI-enable platform designed to eliminate waste in digital advertising. SWARM will integrate the following key features to address the age-old conundrum of “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”

1. Data Discovery: SWARM will use AI to analyze publicly available data and corporate internal data (CRM) data to categorize and extract the critical insights into behaviors that cause their actions. These personas will provide an anonymized view of the ideal customer which will then be used to influence the creative process. Swarm will monitor the ongoing signals and dynamically updates them through their lifecycle of engagement with a brand, product or service.
2. Dynamic & Predictive Creative: SWARM’s creative module will analyze the key elements of each persona and dynamically creates multiple variations of the creative assets that are most likely to resonate with potential customers. SWARM’s prediction module will eliminate the need for A/B testing or educated guessing by predicting what works – before spending a dollar – with 95% accuracy.
3. Omnichannel Engagement & Activation: Machine learning and AI are at the core of our omnichannel advertising platform. It will offer ad formats, including display, native, video and connected TV (CTV) with consolidated reporting.
4. Performance: Swarm’s performance module connects previously siloed data and signals in order to track and measure the performance of each campaign. Through an intuitive console, results will be displayed alongside insights and recommendations to continually improve performance.

For more information about aiAdvertising, please visit the Company’s new website at www.aiAdvertising.com.

About CloudCommerce

CloudCommerce is a leading provider of digital advertising solutions. Our flagship solution, SWARM, analyzes a robust mix of audience data to help businesses find who to talk to, what to say to them, and how to market to them. We do this by applying advanced data science, behavioral science, artificial intelligence, and market research techniques to discover, develop and create custom audiences for highly targeted digital marketing campaigns. For more information about the Company, please visit www.CloudCommerce.com.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual report on Form 10-K for the year ended December 31, 2018. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

FAQ

What is the focus of CloudCommerce's new license agreement with WRENCH.AI?

The license agreement aims to enhance CloudCommerce's AI-enabled SWARM platform, focusing on improving advertising efficiency and reducing costs.

How will the SWARM platform benefit from WRENCH.AI's technology?

SWARM will integrate WRENCH.AI's machine learning capabilities for creating targeted customer personas, optimizing advertising efforts, and predicting effective ad creatives.

What are the key features of the SWARM platform?

Key features include data discovery, dynamic creative generation, omnichannel engagement, and performance tracking, all leveraging AI to reduce waste in advertising.

When was the license agreement with WRENCH.AI announced?

The license agreement was announced on February 18, 2021.

What is CloudCommerce's stock symbol?

CloudCommerce's stock symbol is CLWD.