California-based digital workflow company ServiceNow has acquired German artificial intelligence (AI) platform G2K to transform retail and other industries.

G2K’s technology lets organisations connect real-time data across storefronts and other physical spaces for a complete view of operational data. ServiceNow plans to add G2K’s smart IoT technology to its Now platform, helping businesses intelligently action digital and in-store data with enterprise-grade workflows.

Many organisations still struggle to turn vast amounts of data into actions that have business impact. This is especially true for retailers that have the difficulty of managing operations based on a wide variety of digital and in-store data streams across thousands of stores, employees and customers, and have to connect data back to central operations.

Through this acquisition and working in partnership with retailers, ServiceNow plans to develop an AI-powered end-to-end workflow with G2K’s technology for the retail industry, with the flexibility to apply to other industries such as transportation, healthcare, entertainment and manufacturing in the future.

“ServiceNow is relentlessly focused on co-creating the future of work with our customers,” said Karel van der Poel, senior vice president at ServiceNow. “Retail is just the beginning. This acquisition allows ServiceNow to create even greater simplicity and efficiency for our customers’ growing needs across any industry, from manufacturing and supply chain to transportation and entertainment.”

Omar El Gohary, chief technology officer at G2K, added: “Many retailers are turning to a range of AI point solutions to help reshape retail experiences for employees and customers alike, but this results in fractured operations across the enterprise. Together, G2K and ServiceNow will realise a connected vision for our customers and help transform the world of work for retail and beyond, and we couldn’t be more excited about it.”

G2K’s technology gives retailers the ability to connect real-time data across storefronts and other physical spaces and uses AI to translate those data into insights that allow organisations to take action. G2K can help businesses plan inventory based on demand, improve on-site customer experiences, address in-store maintenance or other mechanical issues, and increase employee productivity.

By integrating these end-to-end physical capabilities within the Now platform, ServiceNow can provide enterprise-grade retail workflows, enabling businesses to bridge seamlessly the physical world into a digital workflow platform.

Founded by Karsten Neugebauer and Omar El Gohary in 2013, G2K employs more than 200 people across Berlin, Cairo, Dubai and Mexico, and is headquartered in Munich.

G2K follows recent acquisitions of Hitch Works and Element AI as part of ServiceNow’s commitment to bring additional layers of AI-driven value to customers.

ServiceNow expects to close the acquisition of G2K in the third quarter of this year, subject to the completion of regulatory review. Financial terms of the deal were not disclosed. Tidal Partners acted as financial advisor to ServiceNow on the transaction and Baker McKenzie served as legal counsel.