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Neural networks train Pixyle’s AI algorithms to accurately see and interpret images, helping ecommerce businesses deliver better search experiences to customers.
Amsterdam, Netherlands — News Live — Pixyle
Pixyle AIA leading provider of product labeling and automated labeling solutions powered by artificial intelligence, has been recognized as a 2023 Top 100 Retail Tech Company by market intelligence platform CB Insights.
The CB Insights Retail Tech 100 is an annual list of the most promising retail technology companies worldwide. The companies on the list are selected based on a number of factors, including business activity, market potential and quality of investors.
In the year In 2018 by Svetlana Kordumova, PhD in AI and computer vision from the University of Amsterdam, Pixyle AI helps fashion retailers with image recognition solutions, allowing them to offer a better online shopping experience, increase e-commerce sales and improve efficiency in Catalog management with modern product data entry. The company’s technology is used by leading retailers around the world, including Sephora, Macy’s and L’Oreal.
Svetlana Kordumova, founder and CEO of Pixyle AI We are thrilled to be named one of the top 100 retail technology companies by CB Insights. This demonstrates our success in making online shopping as frictionless as possible and we hope it becomes more fun and exciting by making it easier for people to find what they are looking for. Having the right metadata associated with product images will help retailers capture everyday popular search queries and long tail searches. This recognition team is powered by AI. It’s a testament to his hard work and dedication to providing visual search. and solutions for retailers around the world.
Pixyle’s visual AI locates fashion items in images, determines the item’s category (dress, sneakers, etc.) and then Pixyle AI digs deeper into the image to classify features (color, pattern, etc.) in the language used by consumers. This improves product information and improves the relevance of search results for product discovery, leading to higher conversion rates. The tags generated by Pixyl AI can easily be integrated into the retailer’s e-commerce stack, making the search and discovery platform run smoothly and quickly.
The premise behind Pixyle AI is that search engines and site searches are misleading consumers due to inconsistent, incomplete, and inaccurate data quality related to products that don’t help consumers find what they’re looking for. Research shows that 94% of searches deliver irrelevant results and 72% of sites fall short of search expectations. As a result, most consumers abandon their search and never return. Google (in the US alone) estimates the cost of such bad search experiences at $300B in lost revenue each year (Source).
Svetlana Kordumova He added: “Retail footfall has increased post-pandemic but online clothing shopping will continue to grow.” We are encouraged by the growth of the fast-growing fashion resale market, where Pixyle AI presents a very first-mover opportunity to help the circular economy take off. We built algorithms specifically for user-generated images, allowing AI to detect and recognize fashion items even in blurry and homemade selfies.
Pixyle AI, with offices in Amsterdam and North-Macedonia, helps brands and retailers around the world, including Tendam (Spain), Otrium (Netherlands) and Miento (Denmark). In the year Since going live in 2019, Pixyle AI has worked with retailers who have tagged more than 250M images, improving the relevance and accuracy of product attributes with 95% accuracy and increasing conversions by an average of 10%.
About Pixyle AI
Pixyle AI is on a mission to change the way people find products online by helping retailers build better search with visual AI. Pixyle AI provides fashion retailers with image recognition solutions, enabling them to improve efficiency in catalog management, deliver a better online shopping experience and boost e-commerce sales. The group is based between offices in Amsterdam and North-Macedonia and works with retailers worldwide including Depop (UK), Otrium (Netherlands) and Miento (Denmark). For more information, please visit https://www.pixyle.ai/
Insights into CB
CB Insights builds software that empowers the world’s best companies to discover, understand and make technology decisions with confidence. By marrying data, expert insights and operational management tools, customers manage their end-to-end technology decision-making process with CB Insights. To learn more, please visit https://www.cbinsights.com/
Contact details
pixie
Bilal Mahmud
+44 7714 007257
b.mahmood@stockwoodstrategy.com
Company website
https://www.pixyle.ai/
See source on newsdirect.com: https://newsdirect.com/news/pixyle-ai-recognized-as-a-2023-top-100-retail-tech-company-by-cb-insights-361239347
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