I recently sat down with Michelle Bacharach, CEO and co-founder of FINDMINE, and talked with her about how AI and machine learning can be used to help consumers learn how to use the products they buy.
For example, when it comes to a piece of clothing, that means helping figure out what other clothes you need in order to create a complete outfit. Or if you’re buying a couch, what cushions, rugs, throws or end tables might be needed to complement that couch and create a full room setting. With typical online recommendations, if you add a couch to the shopping cart, you’re then shown 5 other couches that you might like. But how many living rooms have you seen with 5 couches? Those kinds of recommendations are helpful when determining what initial purchase to make, but very little help when determining what products will complement your purchase.
In this video, Michelle describes how the most important competitive advantage a brand or retailer has is their unique point of view. That point of view is really the essence of their brand. And while a really knowledgeable in-store sales associate can be invaluable in understanding how to use a product and what other products might complement it, that’s hard to replicate across all stores and across online channels. Until now, that is…. Please watch the video for more details.
FINDMINE is part of the SAP CX innovation ecosystem and is currently part of the latest SAP.iO Foundry startup accelerator in San Francisco.