By Riley Kaminer
AI-powered AdTech firm Alfi has announced its partnership with Miami-based All-Niter to fulfill and distribute 10,000 tablets to be deployed in Uber and Lyft vehicles nationwide.
The tablets use computer vision and machine learning to show targeted advertisements to rideshare customers. This provides supplemental income to drivers without compromising riders’ personal information.
“This partnership struck a lot of chords,” said Paul Pereira, founder and CEO of the Miami Beach-based Alfi. “We believe in family businesses and wanted to support All-Niter’s mission to provide employment for young adults in our area.”
All-Niter will laser cut the backboard and plastic elements that hold the tablets in place. Pereira said that All-Niter will assemble the tablets so that “the finished product looks neat, streamlined, and ready for plug-and-play installation.”
Alfi develops technology that is disrupting the out-of-home advertising market. Images from cameras installed on advertising devices like tablets or large screens are fed into Alfi’s proprietary algorithm. This software determines factors like a user’s age and gender, and displays the most relevant advertisement.
“With Alfi, there’s accountability and transparency. We offer real time reporting and metrics,” explained Pereira. He said that Alfi is pioneering the “digital out-of-home business,” bringing the best of the $600B data-driven digital advertising world to the less tech savvy out-of-home industry.
Trust is central to Alfi’s mission. “We are very serious about privacy,” said Pereira. Alfi is compliant with globally standard consumer protection legislations such as GDPR. “We’ve been tried and tested, and we are very conscious about continuing to respect privacy,” Pereira asserted, highlighting the demise of cookies and social media platforms’ diminishing credibility with consumers.
Alfi is a publicly traded company. As of this writing, its stock price has soared more than 300% over the last six months. On Wednesday, Pereira announced that the company will buy back $2 million of shares, saying that “our conviction in our future prospects makes this an appropriate time to repurchase stock and return capital to stockholders."
The company boasts a diverse roster of clients, from rideshare drivers to retail complexes. It has a global footprint that includes a major mall in central London and the largest out-of-home provider in Brazil. The company has about 50 employees, but Pereira says “that number is a moving target because we’re onboarding new people every day.” The company’s South Florida office is currently looking to hire executive administrators, engineers, and a director of operations.
Pereira, who originally hails from Trinidad and Tobago, has lived in South Florida for over 35 years. He said that the “support of people like [Miami mayor] Francis Suarez” has been crucial to the development of Miami’s tech startup scene. But Pereira says he has had no problem hiring locally and attracting talent to the region. “Who doesn’t want to come to South Florida?”
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