Hi Leif, As the first quarter of 2015 came to a close, we at Slyce have been very pleased to see media coverage of visual search and image recognition increase significantly. From advances in technology across the globe, to game-changing partnerships being formed and announced, the world of mobile visual search is expanding rapidly. As you will see below, Slyce continues to out-pace competitors by signing big-name clients and maintaining leadership in the growing visual search and image recognition space.
How We’re Teaching Computers to Understand Pictures 03/24/2015 The image recognition industry is exploding, with massive monetary gains predicted in the next 48 months. This does not mean it is an easy climb- image recognition stands as one of artificial intelligence’s most difficult problems. Using algorithms built on machine learning methods like neural network models, the Director of Stanford’s Artificial Intelligence Lab is working to solve this problem. Using these algorithms, Stanford has been able to create software capable of recognizing scenes in still photographs and take the next steps in machine learning. This research is significant, as it could lead to more intuitive image searches. Why Augmented Reality Will Change How We Shop 03/24/2015 The gap between the physical and online worlds traditionally presented a challenge to marketers. Years ago, QR codes were hailed as the perfect link to bridge this gap. Lacking engagement and consumer adoption, QR codes were phased out to make way for the next step in mobile shopping and marketing: image recognition. Providing a “gamified” interactive experience, image recognition allows shoppers to create a deep connection with a retailer or brand that makes shopping exciting. In addition to deeper engagement, retailers and brands will receive incredible insight into consumer behaviour, useful not least for precise targeting. According to one source, by 2017 more than 2.5 billion mobile AR apps will be downloaded with total revenue from AR experiences expected to pass $600 billion in 2016.
How Frequently Do Canada’s Internet Users Press ‘Buy’ Online? 03/12/2015 Shoppers comprise a huge portion of overall Canadian internet users - fully 80% of internet users will be digital shoppers this year. Of this number, nearly 70% will go on to successfully make a purchase. Frequency of purchasing for this group is on the lower end, but spending is most definitely not. About half of shoppers spent $500+ on a digital purchase, with just 14% spending less than $100. While 19% of Canadians made digital purchases via smartphones, this actually places them in second to last place amongst countries studied. Slyce - Between the Code Newsletter
JCPenney Embraces On-The-Spot Purchasing Capability of Visual Mobile Search 04/01/2015 After a relatively quiet start to 2015 in terms of mobile, JCPenney has significantly boosted its mobile strategy by implementing visual search, powered by Slyce. JCPenney is no doubt aiming to keep up with fellow major retailers like Neiman Marcus, Macy’s, and Amazon by ensuring its products are easily searchable by mobile devices. Our own CEO, Mark Elfenbein, is quoted as recognizing that “this technology has transitioned from a luxury to a priority,” within the mobile space. More and more brands and retailers are being enticed by the real world application that mobile visual search offers, recognizing that the instant purchase ability and instant consumer gratification will make Slyce’s platform attractive to retailers looking to dominate the tight mCommerce space.
The Evolution of Search 03/18/2015 As Neiman Marcus staff well know, it is not always easy for customers to describe what they are looking for. As visual search gains popularity, particularly through the Slyce-fueled Snap.Find.Shop feature within Neiman Marcus’ mobile app, staff and customers alike are able to snap a photo to automatically find the item they are looking for, or the most similar item among inventory. Visual search not only enhances the consumer’s shopping experience; it also provides valuable data for retailers to aid in making merchandising decisions. Visual product search provides real-time, regional data that pinpoints trends in different time zones; a benefit that will soon turn visual search into a useful data and analytics platform.
Slyce Inc. Signs Contract with Fortune Top 50 Company to Launch Mobile Visual Search 03/06/2015 Providing significant validation to Slyce’s visual search technology, a contract was inked between Slyce and a preeminent North American Fortune Top 50 company to power visual search across its mobile commerce platform. By engaging Slyce’s technology, the company’s smartphone app users will be able to snap images of over 1.3 million products in the real world, and receive exact or most similar matching items they can they purchase in one click. Integration of the technology has already commenced, with a full scale launch expected in Q2 of this year. Please watch for our next newsletter, due May 5th! We'll be featuring more exciting developments and trends within the realm of visual search and mobile commerce. Please contact Roy Roman, our Capital Markets Manager, at roy@slyce.it with any questions or comments.
Best regards, Roy Roman. |