ServiceNow To Acquire AI Firm G2K To Revolutionize Retail By CIOTechOutlook Team

ServiceNow To Acquire AI Firm G2K To Revolutionize Retail

CIOTechOutlook Team | Saturday, 13 May 2023, 02:14 IST

ServiceNow (NYSE: NOW), the industry-leading provider of digital workflow solutions that improve productivity for everybody, today disclosed that it had reached a deal to purchase G2K, an artificial intelligence (AI)-driven platform that would revolutionise the retail and other industries. With the aid of G2K's technology, businesses may link real-time data from storefronts and other physical locations for a comprehensive view of operational data. With the help of enterprise-grade processes, ServiceNow intends to integrate G2K's smart IoT technology into the Now Platform, enabling businesses to intelligently act on digital and in-store data.

Numerous businesses still struggle to translate massive amounts of data into actions that have an impact on their bottom line. This is particularly true for retailers that have the difficult task of managing operations using a wide range of digital and in-store data streams spanning thousands of shops, staff, and customers, and who must be able to connect data back to central operations. ServiceNow intends to use the technology from G2K in this acquisition to create an AI-powered end-to-end workflow solution for the retail sector in collaboration with leading retail customers.

"ServiceNow is relentlessly focused on co-creating the future of work with our customers," said Karel van der Poel, senior vice president and general manager at ServiceNow. "Retail is just the beginning. This acquisition allows ServiceNow to create even greater simplicity and efficiency for our customers’ growing needs across any industry, from manufacturing and supply chain to transportation and entertainment."

"Many retailers are turning to a range of AI point solutions to help reshape retail experiences for employees and customers alike, but this results in fractured operations across the enterprise," said Omar El Gohary, chief technology officer and co-founder at G2K. "Together, G2K and ServiceNow will realize a connected vision for our customers and help transform the world of work for retail and beyond – and we couldn't be more excited about it."