WHY IT MATTERS: Digital Transformation
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WHY IT MATTERS: Digital Transformation
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Curated by Farid Mheir
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Visual search is holy grail for eCommerce: show a picture of a product and get recommendations - Facebook has been testing #grokNet with mitigated results #AI

Visual search is holy grail for eCommerce: show a picture of a product and get recommendations - Facebook has been testing #grokNet with mitigated results #AI | WHY IT MATTERS: Digital Transformation | Scoop.it

Our latest AI advancements represent fundamental building blocks that could power entirely new future shopping experiences.

  • Facebook AI is on a quest to build the world’s largest shoppable social media platform, where billions of items can be bought and sold in one place.

  • As a key milestone toward this goal, we’re sharing details on how we’ve improved and expanded GrokNet, our breakthrough product recognition system. Now, it’s powering new applications on Facebook, like product tagging and showing visually similar products. Soon, we’ll bring visual search to Instagram so that people find similar products just by tapping on an image.

  • We’re also diving into our latest advancements, which provide a deeper, more nuanced understanding of product attributes and multimodal signals. These advancements collectively represent fundamental building blocks that could power entirely new shopping innovations of the future.

Farid Mheir's insight:

WHY IT MATTERS: as marketplaces become popular, finding a specific product in a catalog of millions of products will become harder and harder. The holy grail is visual search: snap a picture of something and get some AI to help you find something similar, or that matches well with that. eBay has made tests, Google lens has returned amazing results in my recent experience. Not sure what Amazon is doing but I assume it is top of their list.

Facebook is a major player in this game as it wants to make marketplace the shopping destination (don't forget it owns instagram as well). So the investment in grokNet is critical and recent results appear promising, though not yet perfect. 

So if you build a marketplace, as we are for panier bleu, then this is an area of innovation we cannot afford to bypass.

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100 Tech Innovators Transforming Retail #RetailTech

100 Tech Innovators Transforming Retail #RetailTech | WHY IT MATTERS: Digital Transformation | Scoop.it

The Retail Tech 100 is CB Insights' annual ranking of the 100 most promising B2B retail tech companies in the world. This year's winning companies include startups working on e-commerce infrastructure, supply chain automation, cashierless checkout, and more.

Farid Mheir's insight:

WHY IT MATTERS: an interesting list of retailTech solutions, with recent updates.

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#digital is 50 years old: so what is next in #eCommerce and other areas? 134 fact-based data-full slides from @benedictevans provide insights into what the future may hold #mustRead

#digital is 50 years old: so what is next in #eCommerce and other areas? 134 fact-based data-full slides from @benedictevans provide insights into what the future may hold #mustRead | WHY IT MATTERS: Digital Transformation | Scoop.it

Covid brought shock and a lot of broken habits to tech, but mostly, it accelerates everything that was already changing. 20 trillion dollars of retail, brands, TV and advertising is being overturned, and software is remaking everything from cars to pharma. Meanwhile, China has more smartphone users than Europe and the USA combined, and India is close behind - technology and innovation will be much more widely spread. For that and lots of other reason, tech is becoming a regulated industry, but if we step over the slogans, what does that actually mean? Tech is entering its second 50 years.

Farid Mheir's insight:

WHY IT MATTERS: a great new overview of the digital transformation (my words), with fact-based data-full slides. I especially like everything about eCommerce in there which will become reference for me in coming months. I extracted just one striking illustration of the wide variation of eCommerce penetration depending on industry. This chart highlights how different the digital transformation strategies must be in the toys&games industry vs the grocery industry. Love it. Many more in the full presentation.

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