Kerry Liu could have harnessed the power of AI for just about anything, but he set his sights on solving problems retailers face with his company Rubikloud.
“The reality is that meeting this expectation is only achievable through the successful application of AI.”
The suit of software helps manage things like inventory, supply chains, and promotions. In doing so, it helps companies cut down on waste by making better stocking decisions. It also helps keep more fast-fashion clothes out of landfills. Only the oil industry creates more pollution than clothing and textile.
Liu says a deep bench of retail expertise helped get Rubikloud’s foot in the door because his company knows what keeps retail executives up at night.
“We understand that each industry has its own nuances to consider, and a one-size-fits-all solution will not work.”
Liu says Rubikloud has processed around $200 billion in transactions and 400 terabytes of data, making it third behind Amazon and Walmart, and first among non-retailers.
“For a large global retailer, Rubikloud helped them achieve an 11 per cent uplift in revenue and a gain of $15 million in incremental sales,” says Liu.
Despite Rubikloud’s success on the big stage, Liu says he plans to keep the company’s headquarters in Toronto, because it is among the best locations for tech firms.
“The city’s lively ecosystem has created more technology jobs than the San Francisco Bay area, Seattle and Washington, D.C. combined in the last year,” says Liu.
“We are an attractive place for global talent, we continue to be the epicentre for some of the world’s most exciting technological advancements and we have a strong support system for the startup community that continues to create an environment where tech talent can thrive and make an impact.”