philip lelyveld The world of entertainment technology

12Aug/19Off

Lucidworks raises $100M to expand in AI-powered search-as-a-service for organizations

4467347340_f7e2679756_bIn an interview, Hayes said that what sets Lucidworks apart is how it uses machine learning and other AI processes to personalise those results after “sorting through mountains of data”, to provide enterprise information to knowledge workers, shopping results on an e-commerce site to consumers, data to wealth managers, or whatever it is that is being sought.

Take the case of a shopping experience, he said by way of explanation. “If I’m on REI to buy hiking shoes, I don’t just want to see the highest-rated hiking shoes, or the most expensive,” he said.

The idea is that Lucidworks builds algorithms that bring in other data sources — your past shopping patterns, your location, what kind of walking you might be doing, what other people like you have purchased — to produce a more focused list of products that you are more likely to buy.

“Amazon has no taste,” he concluded, a little playfully.

Interestingly, Hayes said that while it’s come up a number of times, Lucidworks doesn’t see itself ever going head-to-head with a company like Google or Amazon in providing a first-party search platform of its own. Indeed, that may be an area that has, for the time being at least, already been played out. Or it may be that we have turned to a time when walled gardens — or at least more targeted and curated experiences — are coming into their own.

See the full story here; https://techcrunch.com/2019/08/12/lucidworks-raises-100m-to-expand-in-ai-powered-search-as-a-service-for-organizations/?utm_medium=TCnewsletter&tpcc=TCdailynewsletter

Comments (0) Trackbacks (0)

Sorry, the comment form is closed at this time.

Trackbacks are disabled.