Upbound Group, Inc. Collaborates with Google Cloud to Transform Customer Experience with a Comprehensive AI Roadmap
Upbound Group (NASDAQ: UPBD) has partnered with Google Cloud to implement advanced AI solutions across its Acima Leasing and Rent-A-Center businesses. The collaboration will utilize Google Cloud's Vertex AI to enhance product accessibility, personalization, and service quality. The AI roadmap focuses on improving customer conversion through website enhancement, expanding leasable goods catalog through real-time identification on retailer websites, and increasing operational efficiency in customer service. The partnership aims to establish a data ecosystem for scaling AI initiatives while ensuring data security and compliance.
Upbound Group (NASDAQ: UPBD) ha stretto una partnership con Google Cloud per implementare soluzioni avanzate di intelligenza artificiale nelle sue attività di Acima Leasing e Rent-A-Center. La collaborazione utilizzerà il Vertex AI di Google Cloud per migliorare l'accessibilità dei prodotti, la personalizzazione e la qualità del servizio. La tabella di marcia dell'IA si concentra sul miglioramento della conversione dei clienti attraverso il potenziamento del sito web, sull'espansione del catalogo dei beni affittabili tramite identificazione in tempo reale sui siti dei rivenditori e sull'aumento dell'efficienza operativa nel servizio clienti. L'obiettivo della partnership è quello di stabilire un ecosistema dei dati per scalare le iniziative di IA garantendo, al contempo, la sicurezza dei dati e la conformità.
Upbound Group (NASDAQ: UPBD) se ha asociado con Google Cloud para implementar soluciones avanzadas de inteligencia artificial en sus negocios de Acima Leasing y Rent-A-Center. La colaboración utilizará Vertex AI de Google Cloud para mejorar la accesibilidad de los productos, la personalización y la calidad del servicio. La hoja de ruta de IA se centra en mejorar la conversión de clientes a través de la mejora del sitio web, expandiendo el catálogo de bienes arrendables mediante la identificación en tiempo real en los sitios web de los minoristas y aumentando la eficiencia operativa en el servicio al cliente. La asociación tiene como objetivo establecer un ecosistema de datos para escalar iniciativas de IA mientras se asegura la seguridad de los datos y el cumplimiento.
Upbound Group (NASDAQ: UPBD)는 Google Cloud와 협력하여 Acima Leasing 및 Rent-A-Center 비즈니스 전반에 걸쳐 고급 AI 솔루션을 구현하고 있습니다. 이 협업은 Google Cloud의 Vertex AI를 활용하여 제품 접근성, 개인화 및 서비스 품질을 향상시킬 것입니다. AI 로드맵은 웹사이트 개선을 통한 고객 전환율 향상, 소매업체 웹사이트에서의 실시간 식별을 통한 임대 가능 상품 카탈로그 확장, 고객 서비스의 운영 효율성 증가에 초점을 맞추고 있습니다. 파트너십의 목표는 데이터 보안 및 규정 준수를 보장하면서 AI 이니셔티브를 확장하기 위한 데이터 생태계를 구축하는 것입니다.
Upbound Group (NASDAQ: UPBD) a établi un partenariat avec Google Cloud pour mettre en œuvre des solutions avancées d'IA dans ses activités d'Acima Leasing et de Rent-A-Center. Cette collaboration utilisera Vertex AI de Google Cloud pour améliorer l'accessibilité des produits, la personnalisation et la qualité du service. La feuille de route de l'IA se concentre sur l'amélioration de la conversion des clients grâce à des améliorations du site web, l'expansion du catalogue des biens louables grâce à une identification en temps réel sur les sites des détaillants et l'augmentation de l'efficacité opérationnelle dans le service client. L'objectif de ce partenariat est d'établir un écosystème de données pour développer des initiatives d'IA tout en garantissant la sécurité des données et la conformité.
Upbound Group (NASDAQ: UPBD) hat sich mit Google Cloud zusammengetan, um fortschrittliche KI-Lösungen in seinen Acima Leasing- und Rent-A-Center-Geschäften zu implementieren. Die Zusammenarbeit wird Vertex AI von Google Cloud nutzen, um die Produktzugänglichkeit, Personalisierung und Servicequalität zu verbessern. Der KI-Fahrplan konzentriert sich darauf, die Kundenkonversion durch die Verbesserung der Website, die Erweiterung des mietbaren Produktkatalogs durch Echtzeiterkennung auf Einzelhändler-Websites und die Steigerung der betrieblichen Effizienz im Kundenservice zu optimieren. Ziel der Partnerschaft ist es, ein Datenökosystem zu schaffen, um KI-Initiativen zu skalieren und gleichzeitig die Datensicherheit und Compliance zu gewährleisten.
- Strategic partnership with Google Cloud enhances technological capabilities
- Implementation of AI solutions expected to improve customer conversion rates
- Automation of routine tasks will increase operational efficiency
- Expansion of leasable products catalog through real-time identification
- None.
Insights
This strategic AI partnership with Google Cloud marks a significant technological leap for Upbound's business model. The implementation of Vertex AI across their Acima Leasing and Rent-A-Center operations will create multiple revenue-generating opportunities through:
- Enhanced product discovery and catalog expansion via real-time identification on retailer websites
- Improved conversion rates through AI-driven personalization and predictive modeling
- Operational cost reduction through customer service automation
The Google Cloud partnership represents a strategic investment in operational efficiency and revenue growth. Key financial implications include:
- Reduced customer acquisition costs through improved conversion rates
- Lower operational expenses via automated customer service
- Increased revenue potential from expanded product catalog
- Enhanced competitive positioning in the lease-to-own market
Collaboration to enhance the omnichannel experience, broaden leasable product offerings across Acima Leasing and Rent-A-Center lines of business.
Through this collaboration, Upbound will tap Google Cloud’s Vertex AI to enhance product accessibility, personalization and service quality for its customer base.
"As we take the next step on our AI journey, joining forces with Google Cloud, a global powerhouse in AI and cloud solutions, will assist Upbound in leveraging the potential of AI technologies to meet the evolving needs and expectations of our customers and retailers,” said Upbound’s Chief Executive Officer Mitch Fadel. “We are excited to implement a roadmap that we believe will profoundly influence and enhance how we serve our customers in the future.”
Through this collaboration with Google Cloud, Upbound will integrate AI technologies focusing on improving customer conversion through an improved website experience and personalization utilizing predictive modeling. The AI roadmap will initially focus on expanding the catalog of leasable goods through real-time identification on retailer websites, and increasing operational efficiency by automating routine tasks across customer service and support.
"Google’s AI platforms allow us to deliver on opportunities presented through next-generation AI products,” said Upbound’s Executive Vice President and Chief Technology and Digital Officer Sudeep Gautam. “We are growing our technology footprint to provide cutting-edge tools directly to our customers. This allows them to engage with our portfolio of innovative products and empowers their upward financial mobility in a growing lease-to-own landscape.”
Leveraging the advancements that Google Cloud’s solutions offer underscores Upbound’s commitment to fostering innovation and improving accessibility across the customer base of its operating brands.
“Google Cloud is committed to providing the industry’s most open cloud to help customers accelerate their digital transformations,” said Google Cloud’s Managing Director of Customer Engineering (US Central) Roshni Joshi. “By utilizing Google Cloud’s leading technologies, Upbound is well-positioned to optimize its operations, enhance product accessibility and personalization, and drive innovation for its customer ecosystem. We are proud to collaborate with them on this journey.”
The agreement with Google will also aim to establish a robust data ecosystem for scaling AI initiatives across additional business functions; continuously improve AI solutions based on customer and coworker feedback and evolving market trends; and help ensure data security and compliance while implementing AI solutions.
About Upbound Group, Inc.
Upbound Group, Inc. (NASDAQ: UPBD), is an omni-channel platform company committed to elevating financial opportunity for all through innovative, inclusive, and technology-driven financial solutions that address the evolving needs and aspirations of consumers. The Company’s customer-facing operating units include industry-leading brands such as Rent-A-Center® and Acima® that facilitate consumer transactions across a wide range of store-based and digital retail channels, including over 2,300 company branded retail units across
Upbound Group, Inc. Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "predict," "continue," "should," "anticipate," "believe," or “confident,” or the negative thereof or variations thereon or similar terminology and including, among others, statements concerning the Company’s expectations with respect to the benefits of AI technology initiatives, its agreement with Google Cloud, its growth strategies and other future growth opportunities. There can be no assurance that such expectations will occur. The Company's actual future performance could differ materially and adversely from such statements. Factors that could cause or contribute to such differences include the risks involved in effectively implementing new and rapidly evolving technology solutions, future developments relating to its agreement with Google Cloud and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including but not limited to, its Annual Report on Form 10-K for the year ended December 31, 2023 and in its subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241121245836/en/
Investor Contact:
Jeff Chesnut
SVP, Strategy & Corporate Development
972-801-1108
jeff.chesnut@upbound.com
Source: Upbound Group, Inc.
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