ALFI Inc is a recently listed advertising technology company that offers Artificial Intelligence (AI) based on enterprise software as a service (SaaS) solution.
I know that half of my advertising dollars are wasted… I just don’t know which half.
-John Wanamaker
Using artificial intelligence in advertising brings a whole lot of advantages, such as improved personalization/recommendations, dynamic pricing, ad optimization and more.
Alfi’s technology analyzes a user’s profiles, psychographics, and geolocation to provide meaningful information to them. The technology uses computer vision, which is operated by a proprietary machine-learning algorithm, to identify user demographics and provide specific, personalized advertising tailored to individual users. It also uses AI and smart technology to detect user demographics and provide relevant, targeted ads tailored to individual users.
Big Data is currently booming right now, Wall Street even said that Big Data is more valuable than gold!
Alfi can access information about customers’ tastes and habits, as well as the number of times commercials have been used, thanks to Alfi’s data-rich monitoring functionality. When a user walks up to an Alfi-enabled computer, the technology scans through its database of ads to find the most appropriate material based on the advertiser’s requirements, and the whole process takes milliseconds.
Alfi uses its hardware platform as a consumer service enabler, which costs less than $100 per digital screen and can produce more than $1,000 in sales per month per unit, showing a large margin opportunity. The company’s software complies with GDPR (General Data Protection Regulation) and does not use or store cookies, user data, or facial images, ensuring customer privacy.
Why Advertising AI Tech plays a significant role in the future
Last year, the government signed a bill called National Artificial Intelligence Initiative Act of 2020 into law that provides investment interest and research and development to companies that are affiliated with artificial intelligence.
By investing into artificial intelligence, you’ll be a part of a new growing sector that is expected to grow 33.2% by 2027.
Going forward, advertising will only make the businesses richer and the advertisers rich. But I believe if we have a technology that uses machine learning and artificial intelligence, we both will have our fair and more precise share of utilizing and the monetization of data.
