DeepAgent software to improve how the eCommerce game is played
IRP Commerce, a Northern Ireland company, launched Artificial intelligence engine called DeepAgent. Not many technical details are available on the company website, except that the software uses machine learning. The name of the software can inspire us to speculate that deep learning is more precise label of the technology. Whether it’s deep learning or old school machine learning, the project has one clear goal: to increase sales for companies using the IRP platform.
DeepAgent monitors behavior of individual visitors of the online store. How they browse the web site, what they click, what they search. It learns from their behavior. What leads them to place an online order. What leads them to leave the store without placing an order. It uses all the data available about store’s visitors. Where are they from, what age, gender, what they search for. While a visitor is browsing the store, it is estimating the probability for making a purchase.
It calculates, for example, that visitor’s probability for clicking the ‘buy now button’ is 50%. Then it can decide to boost the chance to make a sell. It signals the web store page to pop up a special discount message. Discount of 5% suddenly appearing on client’s screen, would increase the chance for clicking the ‘buy now’ button to 80%. And that’s just for that individual visitor. Some other visitor, looking exactly at the same product at the same moment, would not get the 5% discount message. Because software agent estimated that a discount offer would not sufficiently increase the other visitor’s probability to buy. Not enough to make more profit at the discounted price.
The more shop visitors DeepAgent monitors, the more accurate statistical models it can create and the better it works. It gets better and better with time. It learns.
Besides monitoring the behavior of individual shoppers, DeepAgent also analyze how marketing campaigns like Google pay-per-click or social media promotion help to achieve better sells. It might learn, for example, that social media marketing on Facebook gives better results than Google pay-per-click. It would then send a message to the company management, providing details and suggesting corrective actions.
According to IRP commerce: ‘The DeepAgent™ project marks a beginning to the process of automating key moves that need to be made to increase sales in ecommerce and influencing those moves to occur at the micro level and at the macro level
DeepAgent is a project that involves creating intelligence in ecommerce software. In due course the project will cover a huge range of areas and is going to run and run as we improve how the ecommerce game is played.’
AI for ecommerce is already here. And you can bet there will be more and more similar projects. Or rather, that there are many projects under development that we don’t know yet about. Certain things in the computer industry have matured and the time has come. Nvidia CEO told at the financial results conference call that deep learning is being used by 3500 companies working with Nvidia.
Who knows, how many “deep agents” is being prepared out there, to take ecommerce business by the storm.