SAN JOSE, Calif., April 13, 2022 (GLOBE NEWSWIRE) -- Cogniac Corporation (“Cogniac”), a leader in enterprise-class Artificial Intelligence (AI) image and video analysis, today announced its partnership with Melco Resorts & Entertainment Limited (“Melco”), a developer, owner and operator of integrated resorts facilities in Asia and Europe. The partnership implements Cogniac’s proprietary visual data processing platform to support operations of Melco’s loyalty program, Melco Club, at the company’s City of Dreams Manila luxury integrated resort.
Cogniac’s AI-based computer vision platform facilitates the operational capacities of the integrated resort’s exclusive rewards program, Melco Club. Melco’s integrated resorts feature popular loyalty programs which require the counting and verification of large numbers of casino chips. The Cogniac system reduces the amount of resources required to maintain efficient operations, allowing the redistribution of employees to areas of more strategic value. The efficacy of the AI-based machine vision platform has eclipsed the human benchmarks, reaching 99.7 percent accuracy while massively increasing speed.
“We’re thrilled to be working with Melco and are excited about the unique application of our system,” said Vahan Tchakerian, Chief Partnership Officer at Cogniac. “The Cogniac AI-based machine vision is an excellent fit for use at Melco’s integrated resorts; driving efficiency in repetitive tasks and offering Melco the ability to focus on its strategic efforts and scale. The success of the program so far concretely demonstrates the adaptability of AI, and our system, to drive value.”
Many use cases of AI and machine vision in the casino and entertainment space focus on fraud prevention. The leverage of AI-based machine vision in loyalty program operations offers a unique case study on the broad applicability of AI and the Cogniac system. AI has previously served only the niche area of fraud prevention, and with this partnership, Cogniac and Melco seek to drive the adoption of AI through innovative frameworks and workstreams.
“In our commitment to pushing boundaries to create the most innovative and memorable experiences for each and every Melco guest, we continue to embrace the implementation of ground-breaking artificial intelligence hardware including Cogniac’s AI-based machine vision,” said Avery Palos, SVP & Global Chief Information Officer at Melco. “The system scales our ability to process data, dramatically improving our loyalty program’s operational accuracy, service quality and guest experience. We are confident that the collaboration will continue to help us achieve these goals beyond the initial scope of the pilot.”
Cogniac has successfully completed its initial program and is now deploying its solution on multiple resort casino tables with a view to further expansion in new territories across Asia Pacific.
About Cogniac Corporation
Cogniac offers the most advanced enterprise Visual Intelligence Platform. Cogniac enables businesses to realize superhuman levels of accuracy and efficiency in complex environments, from manufacturing to industrial, government to marine. Cogniac’s technology maximizes the value of the newest and most abundant form of data – visual data. By deploying Convolutional Neural Networks and Hyper Parameter Optimization, Cogniac’s platform achieves process performance optimization with very little technical knowledge required from human subject matter experts. For more information, visit Cogniac.ai
About Melco
The Company, with its American depositary shares listed on the Nasdaq Global Select Market (Nasdaq: MLCO), is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates Altira Macau (www.altiramacau.com), an integrated resort located at Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com), an integrated resort located in Cotai, Macau. Its business also includes the Mocha Clubs (www.mochaclubs.com), which comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company also majority owns and operates Studio City (www.studiocity-macau.com), a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, a Philippine subsidiary of the Company currently operates and manages City of Dreams Manila (www.cityofdreamsmanila.com), an integrated resort in the Entertainment City complex in Manila. In Europe, the Company is currently developing City of Dreams Mediterranean (www.cityofdreamsmed.com.cy) in the Republic of Cyprus, which is expected to be the largest and premier integrated destination resort in Europe. The Company is currently operating a temporary casino, the first authorized casino in the Republic of Cyprus, and is licensed to operate four satellite casinos (“Cyprus Casinos”). Upon the opening of City of Dreams Mediterranean, the Company will continue to operate the satellite casinos while operation of the temporary casino will cease. For more information about the Company, please visit www.melco-resorts.com.
Cogniac Press Contact:
Zach Kadletz
Gateway Group
Zach@gatewayir.com
+1 (949) 574-3860
