“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.”