ai eCommerce News – Oct 3

“Stradigi Labs will be led by lab co-founder and chief science officer Carolina Bessega, who has over 20 years of experience working in machine learning, computer vision, natural language processing, data augmentation, and neural networks. Bessega tells BetaKit that she had been working on neural networks in 2002 at the Universidad Central de Venezuela.
The lab will work in two ways: it will support early-stage companies with access to its venture arm, industry advisors, and space to build out a scalable company; or it will incubate its own ideas in-house, working with advisors to identify problems. Once an idea has reached maturity, Stradigi decides whether to spin it off into its own company or find business licensing opportunities.”
“It’s not clear exactly what Amazon intends to do with Body Labs but there are plenty of potential use-cases that mesh with and could extend its existing business interests if the startup has the tech chops to deliver accurate 3D body models at scale.
For example, as well as selling other brands’ clothes via its ecommerce marketplace, Amazon has been ramping up its own fashion business in recent years, expanding and growing its private label fashion brands.
Being able to offer custom fit could give Amazon’s private label fashion brands an edge, even as improving sizing predictions generally for Amazon shoppers could help drive clothes shopping across its platform and help shrink returns from clothes that don’t fit.”
“Malicious hackers and security breaches that have exposed personal information of millions of people have pushed the issue of online security into the spotlight, not just for individuals but for organizations that do business with them. Now a company called Onfido, which has built a way to help websites verify people’s identities using a photo-based identity document, a selfie and artificial intelligence algorithms, has raised $30 million to seize the opportunity.”

ai eCommerce News Aug 6, 2017

“Marketer interest in voice search is downright palpable in some circles. Fresh off a tour of client visits in Miami, Dallas, Chicago, Washington, D.C., and St. Louis, 360i’s Belsky reports that ‘every CMO, every vp of marketing and, especially, every ecommerce client is asking about this subject first and foremost. And they have three questions. ‘What should I do to prepare for when voice is the driver of ecommerce?’ The second one is, ‘What content do I have to think about to increase my chances to be the preferred answer with these devices?’ And, ‘Will all my search budget one day migrate onto these devices?’ There’s not obvious answers to any of these questions. Being early to all of this means you get the spoils.’”
“It’s time to talk cash. The research shows consumers are ready to spend real money while interacting with a chatbot. On average, millennials (26 to 36 years old) would be willing to spend $618 via a chatbot… According to the study, One in five (21%) UK consumers would consider purchasing goods and services from a chatbot.’ This is a goldmine for ecommerce businesses looking for new ways to attract, entertain, and monetize an audience. It’s no wonder giants like Walmart are using AI to enhance a shopping experience, and it’s just the beginning.”
“The answer lies in the reliability of retailer data. McClure explains that this was one of the first problems the company encountered. “One retailer might give us amazing data and another could give us the same set of products but with awful data,” he said, continuing, “We use a text based classification tool, training various models with both positive and negative examples…However, he does note, when discussing the calculation of customer lifetime value, that “having your data in the right format” is key. As retailers seek to improve their data infrastructure and use reliable data, the machine learning part is much more achievable.”

Payment processor PayPal (PYPL) has participated in a $5.27 million financing round for e-commerce technology firm Cloud IQ. Cloud IQ has developed an online platform to help websites more efficiently convert visitors to paying customers. PayPal is beginning to increase its investment pace in new technologies and startup companies, something with which I strongly agree, as the financial services industry continues to evolve at an increasing pace.

Top AI eCommerce News – Apr 26

“Overall, the surplus stock that Otto must hold has declined by a fifth. The new AI system has reduced product returns by more than 2m items a year. Customers get their items sooner, which improves retention over time, and the technology also benefits the environment, because fewer packages get dispatched to begin with, or sent back.” Read full article
“Using structured data – a transformative step to drive discoverability of our vast inventory, insights into supply and demand, pricing trends, among other things – and artificial intelligence, we’re creating a shopping experience that is tailored to each eBay user’s interests, passions and shopping history.”

“As online behaviour among consumers rapidly changes, we’re also building capabilities to meet consumers where they spend the vast majority of their time, including within social networks. We launched eBay ShopBot, an AI-powered personal shopping concierge on Facebook Messenger that helps people find the best deals from eBay’s one billion listings by just chatting with it.” Read full article

AI Infographic from Fortune.com



Here’s an infographic from Fortune magazine with a different perspective on the list of Top 50 AI startups from CB Insights.
“We know that artificial intelligence will soon reshape our world. But which companies will lead the way? To help ­answer that question, research firm CB Insights recently selected the “AI 100,” a list of the 100 most promising artificial intelligence startups ­globally.” Fortune.com

AI Vendor Research: Likelihood


Vendor: Likelihood
Headquarters: San Francisco
Key Product: Intelligent Creative
“Step 1) Design Creative – Our web-based designer lets you add graphic elements from scratch, lay them out on a custom canvas, and then style them by hand or with help from our artificial intelligence tools.”
“Step 2) Make it Dynamic – Likelihood’s AI-powered platform lets you connect elements of your creative to any data source — like a product catalog or digital asset management system — to make each creative impression relevant to the shopper viewing it.”
“Step 3) Publish Creative – Wherever you publish a static image today, you can easily publish an intelligent creative there tomorrow.”
Articles about Likelihood:
Clients: The site doesn’t explicitly say that these companies are clients, but their content is on display on their “Gallery” page. It’s either a very impressive customer list or a little misleading.
Companies include: Ann Taylor, Crate & Barrel, Staples, Home Depot, Sunglass Hut, Macys, Saks Fifth Avenue
Founders/Leaders:
I’ll give Garrett and Rob points for humility. On the company site their pictures are on the third row with titles simply listed as “Technology” and “Business.” It took a little work digging on LinkedIn to determine the c-suite.
Garrett Wu, CTO & Founder, LinkedInProfile
Rob Seaman, CEO, LinkedInProfile
Differentiator:

Leveraging AI to streamline, simplify and automate the development of creative.

Infographic: State of Artificial Intelligence

Here’s another artificial intelligence (ai) infographic that I found on the Appcessories site. Click the infographic below to view the full size version. It is based on data and analysis from Venture Scanner, an analyst and technology powered startup research firm. 

Information includes: Artificial Intelligence Market Overview, Company Count by Artificial Intelligence Category…plus a breakdown by funding, investing, longevity and headcount.