Xerox today announced the establishment of CareAR Holdings to integrate CareAR, DocuShare and XMPie platforms.
According to reports, CareAR obtained a post-investment valuation of 700 million U.S. dollars and raised a 10 million U.S. dollar equity investment from ServiceNow.
CareAR will be led by Steve Bandrowczak, President and Chief Operating Officer of Xerox. In addition to his current responsibilities, he will also become the chairman of CareAR’s board of directors. Sam Weisberg, founder of CareAR, will take over as president of the company.
It is worth noting that the expanded CareAR service platform integrates the DocuShare content management system developed by Xerox PARC, XMPie multi-channel communication solutions and Alto AI artificial intelligence services. With the help of visualization tools and easy access to data, this allows us to improve service maintenance to a consistently high level—both for employees and end users. By doing so, service providers can reduce operating costs and reduce greenhouse gas emissions.
The new CareAR platform is powered by augmented reality (AR) technology that Xerox acquired when it acquired CareAR earlier this year. The solution is integrated with ServiceNow field service management, enabling service technicians to leverage the knowledge of more experienced experts through real-time AR guidance.
“CareAR provides the tools needed in a service-intensive industry: real-time guidance, visual aids, and easy access to data for every user. This is all supported by predictive artificial intelligence,” Xerox CEO and Vice Chairman of the Management Board John Visentin said.
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