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Alfi Resumes Roll-out of AI-Enabled Tablets in Value Cabs Operating in Belfast

  • Projected revenue of approximately $9 million annually if deployed in full fleet of 800 cabs.

Miami Beach, FL / June 2, 2021 — Alfi, Inc. (Nasdaq: ALF) (“Alfi” or the “Company”), an AI enterprise SaaS platform company powering computer vision with machine learning models to allow content publishers and brand owners to deliver interactive, intelligent information without violating user  privacy, today announced the resumption of its roll-out of its AI-enabled tablets in Value Cabs operating in Belfast. Value Cabs is Northern Ireland’s number one taxi and chauffeur-drive company in the region.    Prior to the Pandemic, Value Cabs operated a fleet of 800 cars and expects with the reopening of the economy that the fleet will return to fully capacity at the Pre-Pandemic operational levels.

Alfi currently has several hundred AI-enabled tablets installed and operating in Value Cabs in Belfast. As COVID-19 restrictions are lifted, the Company expects to install AI-enabled tablets in most of our 800 vehicles. 

“Value Cabs are delighted to be able to partner with Alfi to introduce their AI enabled platform to our customers across Northern Ireland” said Christopher McCausland, Managing Director Value Cabs.“We believe that ALFI’s Digital based technology will enhance and transform our passenger Journeys, with its curated and specific content it will be informative, engaging and most importantly relevant to their individual interests. This will be a quantum leap against any previously available advertising technology in our fleet of taxis. We consider Alfi a valued partner as we have been working with ALFI for nearly 2 years and we look forward to ramping up to full capacity levels as the economy reopens in Northern Ireland.”

“As countries around the world begin to relax travel and other business restrictions and Rideshare usage increases, we look forward to expanding the installation of our AI-enabled devices with Value Cabs,” said Paul Pereira, CEO of Alfi. “Alfi’s mission is to deliver the right content to the right person at the right time, while maintaining compliance with personal privacy. Our AI-enabled solutions bring transparency and accountability to the digital out of home (“DOOH”) advertising marketplace by delivering advertisements curated to the viewer, which leads to better engagement and outcomes for our advertising customers and provides rideshare drivers with an additional stream of revenue.”

Alfi has created an enterprise grade, multimedia computer vision and machine learning platform, generating powerful advertising recommendations and insights. Multiple technologies work together in Alfi with viewer privacy and reporting objectives as its two goals. Alfi solves the problem of providing real time, accurate and rich reporting on customer demographics, usage, interactivity and engagement while never storing any personal identifiable information. Alfi was designed to be fully compliant with all privacy regulations including the General Data Protection Regulation, in Europe, California Consumer Privacy Act, and the Health Insurance Portability and Accountability Act.

About Alfi Inc.

Alfi, Inc. provides solutions that bring transparency and accountability to the digital out of home advertising marketplace. Since 2018, Alfi, Inc. has been developing its artificial intelligence advertising platform to deliver targeted advertising in an ethical and privacy-conscious manner.

For more information, please visit: https://www.getalfi.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Alfi Inc. Company Contact
Dennis McIntosh
Chief Financial Officerd.mcintosh@getalfi.com

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