By Don Nico Forbes
Alpha Modus filed a lawsuit against Walgreens for what it called patent infringement concerning its AI-driven retail technology.
The technology company said a patent for its AI retail technology--which is designed to enhance in-store shopping through data-driven insights, interactive advertising and consumer engagement tools--is being infringed by Walgreens' Cooler Screens digital smart screens.
"We believe our technology is currently being used by scores of brands, retailers and technology providers. Our research demonstrates that, as a result, damages due Alpha Modus far exceed an estimated $500 million and could easily run into the billions over the life of our patents," Chief Executive William Alessi said.
Alpha Modus shares were up nearly 25% in premarket trading at $2.61.
Write to Don Nico Forbes at don.forbes@wsj.com
(END) Dow Jones Newswires
February 04, 2025 08:30 ET (13:30 GMT)
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