Dec 13 2017
Reflektion, the leader in individualized personalization solutions for the retail industry, today announced its 2018 inclusion on CB Insights' prestigious AI 100.
The AI 100 is a select group of 100 of the most promising private companies applying artificial intelligence algorithms across industries, from healthcare to auto to fintech.
Reflektion's AI-powered personalization platform listens to the behaviors of each individual shopper, utilizes artificial intelligence and machine learning to calculate their preferences and intent, and then responds by displaying the most relevant content and products in real-time and across the digital touchpoints that matter most -- including on-site engagement and email.
Leading retail brands such as TOMS, Ann Taylor, Sur La Table, Godiva and Destination XL rely on Reflektion's AI solutions to combine individual shopper insights, product intelligence, and deep learning to create impactful ecommerce experiences that translate to double-digit increases in key metrics such as conversion rate and average order value.
This 2017 recognition from CB Insights builds upon Reflektion's momentum in the ecommerce space. In 2016, the company was named a Gartner Cool Vendor in Digital Commerce Marketing, and in 2015 it won Shop.org's Digital Commerce Startup of the Year award.
"We are pleased to be recognized by CB Insights for our application of artificial intelligence and for the way in which our AI-based technology and unique approach to knowing customers' preferences and intent can make a dramatic impact on retailers' business," said Amar Chokhawala, Reflektion's founder and CEO. "AI is truly redefining how consumers shop and we expect that experiences driven by Reflektion will become even more in demand as brands compete to win over increasingly empowered customers."
Over half of last year's AI 100 companies raised additional funding, and five were acquired. According to CB Insights' CEO Anand Sanwal, "This year's list was culled from 1000+ applications and looks even more impressive. These are companies using artificial intelligence in industries from drug discovery and cybersecurity to robotics and legal tech. I'm happy that CB Insights is able to shine a light on the founders and companies that will revolutionize these industries and look forward to seeing what they do in 2018 and beyond."
The companies were selected based on various criteria, including CB Insights' Mosaic Score, a quantitative framework based on an algorithm supported by the National Science Foundation. It synthesizes three signals: Momentum, including news mentions and site traffic; Market, including overall sector health; and Money, including funding recency and investor quality.
Source: http://reflektion.com/pr/reflektion-worlds-most-promising-ai-companies/