NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Building on the recent announcement of the strategic partnership between Microsoft Corp. (NASDAQ:MSFT) and Rezolve AI (NASDAQ:RZLV), it was confirmed today that their ongoing collaboration will focus on delivering advanced AI solutions to enhance the global retail sector, which presents a $30 trillion market opportunity. This collaboration leverages the integration of Rezolve AI's proprietary Brain suite of commerce solutions with Microsoft's Azure cloud infrastructure, providing retailers with AI tools designed to optimize operations, drive consumer engagement, and enhance omni-channel experiences.
As part of the partnership, Microsoft is committed to supporting Rezolve AI with Go-to-Market (GTM) initiatives which is expected to reach a minimum of $130 million over the next five years. These GTM efforts will fuel global market penetration by connecting Rezolve AI with top retail customers across three major continents each quarter, , and will drive Rezolve Ai's target of over $100 million ARR for 2025 and accelerated growth over the subsequent years thereafter. This financial backing underscores Microsoft's belief in Rezolve AI's potential to transform the retail sector through its powerful suite of solutions.
Driving AI Innovation in Retail
Rezolve AI's proprietary brainpowa Large Language Model (LLM), as characterized by their suite of Brain solutions, combined with Microsoft's Azure infrastructure, is poised to redefine the way retailers interact with customers and enhance the overall shopping experience. These AI solutions are designed to address critical challenges in the industry, including customer personalization and reducing cart abandonment rates, ultimately creating frictionless retail interactions. Nick Parker, President of Industry and Partnerships at Microsoft, said, "Rezolve's unique technology specifically designed for commerce and retail, is transforming how businesses approach customer engagement and digital transactions."
Capitalizing on a Rapidly Expanding Market
The partnership comes as the AI industry enters an unprecedented growth phase. A recent Bain & Company report forecasts that AI-related revenues will grow 40-50% annually, with the global AI market expected to approach $1 trillion by 2027. Parker added, "Rezolve's AI solutions are not just addressing current challenges but are proactively shaping a more connected, intelligent and customer-centric world for retailers everywhere."
Daniel M. Wagner, CEO of Rezolve AI, emphasized the strategic importance of the alliance: "This partnership with Microsoft enables us to lead the transformation of the $30 trillion retail market with AI solutions that address the pressing challenges retailers face. Our mission is to help businesses adapt and thrive by offering technologies that significantly enhance customer engagement and operational efficiency."
Looking Ahead: The Future of AI-Enhanced Retail
As the adoption of AI accelerates across the retail sector, Microsoft and Rezolve AI are well-positioned to drive the industry forward. Their shared vision is to deliver accessible, scalable AI solutions that empower retailers of all sizes to harness the potential of AI, paving the way for a more intelligent and connected shopping experience.
About Rezolve Ai: Rezolve Ai is a global leader in AI-driven commerce solutions, offering businesses innovative tools to unlock the full potential of artificial intelligence. Its flagship products – Brain Commerce, Brain Checkout, and Brain Assistant – empower companies to stay ahead in the evolving world of AI.
