The small listed Aussie tech company OpenDNA (ASX:OPN) this week announced that it had signed a deal with Endeavour Drinks Group that would see its ‘Internet of Me’ AI technology used to improve online consumer experiences.
Endeavour is operated by Woolworths Limited who is the owner of liquor giants Dan Murphy’s, BWS and Cellarmasters, among others.
In a July 17 2017 ASX announcement, OpenDNA CEO Jay Shah said:
“We are delighted to partner with a household name and trusted brand in the form of Endeavour Drinks Group to deliver to consumers an innovative and personalised app, which will enable them to select the perfect accompaniment to any occasion.
“Through use of OpenDNA technology, not only will the app allow individual users to capture and catalogue their preferences for future reference, it will also enable them to access Endeavour’s extensive associated knowledge base to ensure that they receive the best and most personalised experience”.
OpenDNA will create and power the app, generating revenue through app development and ongoing usage fees.
OpenDNA’s proprietary artificial intelligence technology differs markedly from traditional consumer data systems by doing away with group segmenting and targeting based on comparative data to instead define the single user.
By using machine learning, Natural Language Processing and neural networks, OpenDNA’s AI engine generates deep real-time psychographic insights about a user’s behaviour. For businesses, it means more accurately predicting customers’ needs and delivering a targeted shopping experience for each individual in real-time and automatically. For consumers, it paves the way to own their data and have greater control over their online world.
Jay said that OpenDNA’s vision – to create more personalised and relevant online experiences – was inspired by a frustrating internet browsing session where he continually turned up search results irrelevant to his interests. That was the defining moment where he asked himself whether a system could be designed that truly understood the single customer.
“According to Econsultancy and Tealium, obtaining a single customer view remains huge challenge for marketers in spite of ever-improving capabilities of digital technologies,” Shah said. “However, unified marketing is still a nirvana worth striving for. We’ve created technology that allows marketers to quickly build the single customer view, together with an automated delivery system that allows marketers to take action on this data. It provides an incredibly powerful solution for many businesses.”
Last month, OpenDNA struck an agreement with Netsurfer, an Android powered mobile handset soon to launch in European and African markets. Netsurfer’s handset will integrate OpenDNA’s technology with the device’s operating environment, creating the potential for a completely personalised online experience that is informed and reinforced by the use of the device.
Netsurfer has also agreed to ship future handsets with Jottr an AI powered news-app produced by OpenDNA to help define user’s interests by what they are reading and engaging with and matched that to the single device.
OpenDNA was named a “Business of Tomorrow” by Westpac in April 2017, voted “The Company Most Likely To Grow Exponentially” at an Amazon Web Services event in San Francisco in October 2015. With large companies partnering up and working with them provides for further 3rd party validation of their incredible technology.