Ecommerce firms see the big picture in AI adoption - The Economic Times

NEW DELHI: Startups like SnapShopr, Staqu Technologies, Wazzat Labs, MadStreetDen and iLenze are experimenting with deep learning and image search technologies focused on powering fashion e-tailers to simplify catalogue search, drive customer engagement and get higher conversions. "Two big trends prompted us to start-up -increasing number of smartphones has eased access to smart cameras, which has triggered increased image-based content on the internet. Secondly, we realised that businesses would increasingly need deep learning technologies to understand and analyse visual content to gain valuable insights - which can be the difference between success and failure now," said Ankit Sachan, cofounder of iLenze, which raised 500,000 from Singapore based Mercatus Capital. The technology is inbuilt within the etailer's application and helps connect product discovery in the offline world like reading a magazine or on the street to online searches of similar products on ecommerce websites. By making it easier and more efficient for consumers to scan the etailer's catalogue, the tech increases engagement and thus higher conversion rates and transactions.