Syte, the leading visual-AI-powered Product Discovery Platform for retail, today announced the launch of its AI innovation initiative, Syte Labs. The new division will be led by Syte’s CTO, Yair Green, who will guide the team to ideate on new innovations that complement Syte’s core visual AI technology and benefit its customers and partners as well as the broader retail industry. The launch of Syte Labs follows the RetailTech Breakthrough Awards naming Syte the 2023 Overall Customer Loyalty Solution Provider of the Year.
In the face of a difficult economic climate, retailers and brands are challenged with evaluating and scaling their technology stacks to ensure that it’s optimized to perform. As AI moves from just a buzzword to a reality, Syte Labs will be a dedicated research team within Syte to further leverage its proprietary visual AI technology and expertise in the field to address the challenges related to driving business performance and growth, increasing efficiencies, and providing shoppers with experiences catered to their varied preferences and behaviors.
“AI has the dual capability of improving customer experience while increasing efficiency – when implemented correctly. Consumer behaviors continue to change at a breakneck pace, and retailers and brands need to ensure their AI technological deployments resonate with the current, rapidly changing environment,” said Yair Green, CTO of Syte. “Our DNA is to constantly innovate our products based on customers’ needs and industry developments, creating Syte Labs was a natural progression of this approach.”
With an emphasis on finding synergies between Syte’s core visual AI engine and new technological developments – like generative AI and predictive AI – Syte Labs will focus on exploring the endless possibilities AI is capable of to benefit both the product discovery experience for the customer and operational and merchandising experiences for retailers. Syte’s tech teams are also emphasizing responsible AI as a guiding principle for new developments.
Some of the first innovations Syte Labs has set its focus on are the combination of visual AI and generative AI to auto-create product titles and descriptions from catalogue images, and multisearch, where customers can use interactive search to support shopping and styling journeys. Syte is also using this forum to further improve its unique visual AI enrichment capabilities, which can use multiple images to extract product tags, adding new dimension and accuracy to automated merchandising.