Ann: Nearmap launches 3D and Artificial Intelligence products, page-68

Nearmap: Better than Google Maps

June 7, 2019

The market reaction to the news has been subdued; share price initially jumped to $3.32/share, but could not break the high reached on the earlier day. The ASX closed with the share gaining 0.31% to $3.21/share.

** This is a vast upgrade to Google’s “Street View” offering, currently the most comparable product in the market. **

Future Outlook

Newman is quoted as saying, “Product innovation is in our DNA. Everything we do has the customer at the core. Our customers’ worlds are evolving every day. We need to keep innovating to continue to give our customers a competitive advantage through technology breakthroughs such as those that we’re launching today.” Fintech is disrupting the industry, and what many take for granted may not stay that way in a few years’ time.

The performance of Nearmap is comparable to other fintech stocks generating headlines, such as Appen and Altium Ltd. The future success of Nearmap depends on expansion into more countries overseas, advancement in camera technology and being able to further reduce costs. The release of this technology opens up new doors, as all manners of organisations are able to take advantage of AI-driven data. Imagery technology has now gone beyond getting you directions to the local Maccas; the potential in customer analytics and data analytics is waiting to be untapped.

All of it