“Monetate, a Conshohocken-based company whose software personalizes online shopping for customers, announced Thursday that it is being acquired by Kibo, a Dallas-based rival.
Kibo, which employs about 265 people, provides cloud-based software for online commerce. In February, it acquired Certona, a recommendation engine that also uses AI to streamline e-commerce sales. Kibo’s client base includes about 600 business-to-business and consumer retailers and brands, according to the company.”
“Reportedly, brands who have recently adopted AI for marketing strategy, predict a 37 percent reduction in costs along with a 39 percent increase in revenue figures on an average by the end of 2020 alone.
According to a 2019 study by Forrester and Albert, only 26% of marketers are making use of autonomous AI, while 74% take a more manual approach with assistance from AI.”
“Facebook might soon be able to improve your fashion sense.
The company is currently experimenting with AI to create an initiative (titled ‘Fashion ++’) which, rather than recommending entire overhauls of your outfit, would make small suggestions about what could be improved.”
“A recommender system is a good approach to bring a new degree of personalization to the e-commerce sector. AI techniques build a correlation between the present demand and the upcoming demand. Learning product recommendation techniques promise to deliver product results your shoppers will likely want and get.”
“Facebook today announced the open source release of Deep Learning Recommendation Model (DLRM), a state-of-the-art AI model for serving up personalized results in production environments. DLRM can be found on GitHub”