Pinterest Just Made a Major Acquisition, With Tantalizing Prospects Ecommerce Opportunities
If it’s been a while since you’ve checked out Pinterest , you might want to reconsider unpinning it.
The San Francisco-based image sharing platform has been making inroads into social commerce that might deserve your attention. To wit, Pinterest last Thursday announced its acquisition of THE YES , the San Francisco-based AI-powered shopping platform for fashion brands. The tie up is expected to bring more interactive sales opportunities to retailers using Pinterest. And that could lead to more customers flocking to the app shopping for cool trends.
AI-powered shopping is not new. However, with the pandemic-fueled e-commerce boom, the competition is growing ever more fierce–which makes standing out all the more necessary. As a result, consumers may be looking for ways to make the shopping experience more streamlined. Enter AI-powered shopping, with the promise of fully automated self-service and highly personalized shopping experiences .
“Using intelligent, real-time learning, the recommendation algorithms get smarter over time as they learn more about the individual–similar to how music apps like Pandora or Spotify understand your tastes and preferences depending on the feedback they receive,” Julie Bornstein, the co-founder and CEO of THE YES tells Inc.
Bornstein adds that AI-powered shopping is poised to become the future of commerce 5 to 10 years from now. “Over the next few years, we will see more and more retailers and brands invest in AI as they can all benefit from high-signal data from their customers.”
Here’s what you need to know now to stay ahead of the curve: 1. Get familiar with these AI tools
To get started, explore these online resources and platforms to get a sense how AI can help your business grow in long term.
If you want to develop a customer-centric experience through advanced image and video recognition, the New York City-based tech […]
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