OpenDNA is a digital analytics company that uses its proprietary artificial intelligence and machine learning software to create profiles unique to individual business customers as well as individual consumers. The platform allows software code embedded in websites, smartphone apps, and smart devices to continuously provide user interest data. As individuals access an OpenDNA embedded app, website, or device their actions are fed to the OpenDNA platform which then begins building customised user profiles for client company analysis.
The company will generate revenue from business customer licensing fees based on the number of their users and their level of activity. The benefit for individual users, which comes free of charge, is the ability to control their own data. Everyone who uses the Internet or smartphone apps to search for a product gets bombarded with a dizzying assortment of contacts regarding related products, regardless of their true interest. The initial search may have been a casual inquiry or a one-time purchase.
Based on activity, the e platform has the ability to “learn” the user’s genuine interests and provide information truly relevant to the user, based on the users actual interactions with OpenDNA connected websites and applications. The resultant unique User Profile remains the same for all sites and apps. In addition, the platform has a “recommendation engine” that provides information of interest restricted to the activities tracked in the User Profile.
The idea of incorporating artificial intelligence into data analytics for both the consumer and the corporation is intriguing, but as enticing as that may sound; OpenDNA comes with all the risks of a start-up company, and more.
First and foremost, the AIS platform software may be proprietary but as of this writing it is still in patent application status, with the company planning to apply for patents in each country where it does business. Perhaps of more significance is the fact the company’s source code could be passed along to unauthorized parties, despite its secrecy policy with both staff and contractors.
The company developed an iOS version of its AIS platform made available on the Apple App Store and received favorable feedback while reaching 23,000 users over seven months. The final iOS version is expected to be ready for release by the end of 2016 with a generic Android version available in 2017.
Funds from the IPO will go primarily for marketing and brand and technology development. Despite the risk, technology experts tell us the sheer mass of data being generated by smart devices necessitate incorporating AI (Artificial Intelligence) into the Internet of Things, making OpenDNA worthy of a place on your watch list.
OPN Price at posting:
16.5¢ Sentiment: Hold Disclosure: Not Held
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