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Presto Technologies, Inc. (NASDAQ: PRST) is a leading provider of AI and automation solutions tailored for the restaurant industry. Known for its enterprise-grade software, Presto aims to revolutionize restaurant operations by decreasing labor costs, improving staff productivity, increasing revenue, and enhancing the guest experience.
Presto's flagship product, Presto Voice™, is designed for quick-service restaurants (QSR). Utilizing cutting-edge artificial intelligence, this product automates speech recognition for drive-thru orders, offering an efficient and seamless experience for customers. This innovation is already in use by some of the most recognized names in the industry, such as Carl’s Jr., Hardee’s, and Checkers.
Another significant product offered by Presto is Presto Touch, a pay-at-table tablet solution designed for casual dining chains. This product enhances the dining experience by allowing guests to settle their bills conveniently at the table. Major casual dining brands like Applebee's, Chili's, and Red Lobster utilize Presto Touch to streamline their operations and improve customer satisfaction.
Recently, Presto announced an expansion of Presto Voice to include a Spanish-language ordering feature. This new capability aims to serve a broader demographic and provide a more inclusive customer experience. The feature is being piloted in Southern California and is expected to roll out more broadly upon successful testing.
Financially, Presto has been active in securing capital to support its growth. The company recently completed a financing round, raising approximately $2.1 million. This funding will be used for working capital and general corporate purposes. The offering was made pursuant to a shelf registration statement filed with the SEC.
As Presto focuses on its Voice AI solution, it has decided to wind down its Touch pay-at-table product, with plans to exit this business line by June 2024. This strategic shift allows the company to concentrate its resources on enhancing the Presto Voice solution, which shows significant potential for growth in North American drive-thru operations.
Presto's technological advancements, coupled with its focus on improving operational efficiencies for restaurants, position it as a key player in the evolving landscape of the restaurant industry. The company continues to innovate, aiming to meet the diverse needs of its customers through cutting-edge technology and strategic partnerships.
Presto Automation Inc. (NASDAQ: PRST), a leader in drive-thru automation technology, has announced that it will release its fiscal Q3 2023 financial results on May 15, 2023, after market close. Management will host a conference call at 5:00 p.m. Eastern Time the same day to discuss these results and other business highlights. Presto, established in 2008 from MIT, offers enterprise-grade Voice™, Vision™, and Touch™ technologies that enhance operations for hospitality businesses. The company has processed over 380 million transactions, serving several major restaurant chains across the U.S.
Presto Automation Inc. (NASDAQ: PRST), a leader in drive-thru automation technology, will present at the 2023 Restaurant Leadership Conference in Phoenix, Arizona, showcasing its innovative Presto Voice™ generative AI technology. This technology enhances the drive-thru experience for both customers and operators, focusing on improving order accuracy and operational efficiency while reducing labor costs.
On April 19, at 8:15 a.m., Presto's President, Dan Mosher, will participate in a panel titled "The Rise of AI in the Drive-Thru" alongside Del Taco's President, Chad Gretzema. They will discuss the benefits of generative AI in drive-thru operations. Presto aims to revolutionize the restaurant industry and has garnered strong investor interest, reflecting its leadership in Enterprise AI applications.
Presto Automation Inc. (NASDAQ: PRST) is set to host an Enterprise Generative AI Summit on May 5th at its headquarters in San Carlos, California. This event aims to discuss the adoption of enterprise-grade generative AI technologies, building on its recent collaboration with OpenAI. Presto's innovations in drive-thru automation, specifically the Presto Voice™, leverage generative AI to enhance customer interactions. The company emphasizes the immediate applicability of AI in enterprise settings, highlighting the value seen by clients like Checkers and Rally’s and Del Taco.
Allurion has appointed Dr. Regina Barzilay to its Scientific Advisory Board (SAB) as it expands its Virtual Care Suite. Dr. Barzilay is a renowned expert in AI and health, affiliated with MIT, bringing extensive experience in machine learning and natural language processing. The company aims to leverage her expertise to enhance patient outcomes and strengthen its digital healthcare offerings. Dr. Shantanu Gaur, Allurion's CEO, highlighted the importance of Dr. Barzilay's role in driving AI innovation within the company's weight loss solutions.
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