/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
UNITED STATES NEWS WIRE
SERVICES./
- Renoworks to bring deep learning and data intelligence to
the remodeling and new home construction industry
- Renoworks engages data services consulting firm to
leverage its leading digital product assets and content
library
CALGARY, Jan. 17, 2018 /CNW/ - Renoworks Software
Inc. (TSXV: RW) ("Renoworks" or the "Company"), a
leading provider of digital home imaging software and web solutions
for new home construction and existing home renovations, is pleased
to announce the initiation of its technology build to develop
predictive design intelligence, the Renoworks Design Engine.
Renoworks has completed a comprehensive assessment of
opportunities for Artificial Intelligence (AI)/Deep Learning
applications, based on impact and viability. Renoworks has
the development team in-place to provide the knowledge and tools
required to develop and introduce these new platforms into the
Company's technology stack.
Renoworks Design Engine should assist and simplify the process
for homeowners and contractors to visualize remodels and new home
construction projects. Once deployed, the technology could
rapidly provide more options and insights for enterprise,
contractors and homeowners. Management believes the
investment in Deep Learning/AI can be of strategic importance to
creating value for the Company and its
shareholders.
Doug Vickerson, CEO of Renoworks,
stated, "The home remodeling and new home construction industry is
an ideal space for deep learning and AI right now. Kicking off this
technology build reaffirms our commitment to leading the industry
by developing state-of-the-art intelligence." Mr. Vickerson
continued, "We are seeing very good traction for our visualizer
platform, expansion of our digital assets, and can accelerate
cutting edge technology and substantial market opportunities with
our current team."
Renoworks has engaged Shift Analytics, a leading strategic data
services consulting firm headquartered in Calgary that specializes in business and data
intelligence. Combined, Renoworks and Shift Analytics aims to
provide deeper insights and further develop its dataset the
Renoworks dataset to better inform the building products industry
around design decisions. More specifically, data collected
surrounding design and purchase behavior, specific brand
interactions and affinity to certain manufacturer product will be
used to inform the Company's existing and future customers.
Mr. Vickerson stated, "Since inception we have operated our
platform assembling a massive dataset in our digital product
library so there is significant potential for data driven
innovation and applications." Mr. Vickerson explained, "The
data collected will be very valuable to our clients in
understanding consumer trends, behavior, and identify actionable
insights that will add immense value to homeowners and
contractors. Once configured, this new data platform will
offer new solutions and opportunities for monetization."
About Renoworks
Renoworks Software Inc. develops and sells unique digital
visualization software for the remodelling and new home
construction industry, primarily in the
United States and Canada. Delivered online, as a
custom developed app or desktop software, Renoworks provides its
technology to manufacturers, contractors, builders and retailers
offering the solution to one of the home remodelling industry's
greatest challenges: enabling customers to see how their product
choices will look in a realistic, virtual environment – even in
their own home – before they make a purchase decision. Renoworks
markets its software as a cost-effective lead generation tool and
generates revenues from four main business lines: Enterprise,
Renoworks PRO, Renoworks GSB and Renoworks SDK (Software
Development Kit). For more information, visit
www.renoworks.com
Forward Looking Information
Certain statements in this news release, other than
statements of historical fact, are forward looking information that
involves various risks and uncertainties. Such statements relating
to, among other things, the prospects for the company to enhance
operating results, are necessarily subject to risks and
uncertainties, some of which are significant in scope and nature.
These uncertainties may cause actual results to differ from
information contained herein. There can be no assurance that such
statements will prove to be accurate. Actual results and future
events could differ materially from those anticipated in such
statements. These and all subsequent written and oral forward
looking statements are based on the estimates and opinions of the
management on the dates they are made and expressly qualified in
their entirety by this notice. The Company assumes no obligation to
update forward-looking statements should circumstances or
management's estimates or opinions change.
The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release.
SOURCE RenoWorks Software Inc.