Syte, the world’s first product discovery platform, announced today the official launch of its hyper-personalization solution to increase average order value and conversion rate for eCommerce brands and retailers globally. The proprietary technology combines visual AI with two powerful neural networks to identify and recommend the products most likely to convert in real-time.
Conventional personalization engines take information about a shopper — such as age, location, and gender — and run it through statistical algorithms that have been developed based on the data of thousands of other customers. Thus, traditional personalization does not generate new signals, nor can it recommend never-before-purchased items.
Syte’s hyper-personalization solution goes beyond the segmentation of conventional personalization to provide truly relevant product recommendations for each individual shopper.
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Syte achieves hyper-personalization through deploying the following technologies:
- Visual-AI-powered engagement analytics: Adds a unique layer of product meta-tags to standard engagement data, allowing every event and interaction to be deeply analyzed and understood.
- Recurrent parallel neural networks: Calculates and identifies a unique shopper’s real-time intent to provide optimal shopping recommendations in a split second.
The hyper-personalization solution uses parallel recurrent neural networks to merge website performance data with current session data and real-time user behavior, surfacing the most relevant products for each shopper. The company’s visual AI technology ensures that the products recommended align directly with shoppers’ unique aesthetic tastes based on images they’ve interacted with previously.
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