Integrating Artificial Intelligence (AI) With Social Media Generating Lucrative Market Opportunities
PALM BEACH, Florida, May 3, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
As social media companies aim to maximize user data, artificial intelligence (AI) is being infused to create new market opportunities by dramatically being able to collect and analyze data more efficiently in order to maximize user experience and revenue opportunities. Fuelled by the ever-increasing number of social media users and their active online behavior, integrating AI is taking the social experience to new heights. AI is one of the fastest growing technological segments, as the International Data Corporation estimates that spending on AI platforms will reach a staggering $57 billion by 2021. Leaders in the social media market are using AI for predictive measures in terms of forecasting users' behaviors, as well as solving issues quickly as they develop. Just above every significant social media platform is beginning to levere AI in some form or fashion. Active companies in the markets this week include Engagement Labs (TSX-V: EL) (OTC: ELBSF), Twitter Inc. (NYSE: TWTR), Facebook Inc. (NASDAQ: FB), Twilio Inc. (NYSE: TWLO), Amazon.com Inc. (NASDAQ: AMZN).
Engagement Labs (TSX-V: EL.V) (OTCQB: ELBSF) BREAKING NEWS: Engagement Labs today announced a powerful new enhancement to TotalSocial®, which deploys artificial intelligence (AI) and machine learning to enable clients to more quickly and accurately plan growth strategies based on unique social data and analytics. The newest release is part of Engagement Labs' ongoing commitment to innovation. The technology update helps clients grow revenues and marketing ROI by tapping into the social trends, both online and offline, that can help them win in today's dynamic marketplace.
In January, the company announced it was deploying AI to drive predictive analytics through the development of proprietary algorithms which rapidly build hundreds of predictive models using more than 100 variables in millions of possible combinations to identify the factors that generate sales and drive other key performance indicators for brands.
With today's announcement, TotalSocial now deploys AI to provide new, powerful automation tools that identify unexpected variations in brand performance and diagnose the underlying factors for these changes. For example, the AI the system recognizes when an unexpected drop in sentiment occurs and sends an immediate alert. Diagnostics are run to identify the root cause as well as the appropriate course of action. This is all done in real time and empowers marketers with cutting-edge tools leading to instant detection of changes in trends and rapid optimization strategies to maximize ROI.
"Imagine that a Fortune 500 retailer is launching a new disruptive ad campaign to promote its spring attire. TotalSocial is used to monitor the success of its campaign each week," said Engagement Labs' VP of Analytics Rick Larkin, explaining how the new AI Diagnostics works. "By leveraging AI, TotalSocial now automatically builds thousands of models across all key metrics to identify true moments of lift and allow brands to optimize ROI."
"We are committed to delivering the data and analytics clients need in real time, so they can make fast, smart decisions to improve their business performance. AI Diagnostics for TotalSocial make our platform faster and better in uncovering not only what's happening that's having an impact on our clients' business, but why and how to respond," said Ed Keller, CEO of Engagement Labs.
TotalSocial is a premier data and analytics platform that provides brands with unique insights, improved marketing ROI and strategies to grow revenue. Fueled by actionable offline and online data, TotalSocial is the only platform that encompasses and listens to the entire social ecosystem. With cutting-edge diagnostics, patent-pending predictive analytics and AI/machine learning, TotalSocial identifies business opportunities and provides clients with recommendations to grow revenue and a roadmap to achieve that growth. Read this and more news for Engagement Labs at http://www.marketnewsupdates.com/news/el.html
In other industry related developments in the markets of note:
Facebook Inc. (NASDAQ: FB) recently announced PyTorch 1.0, a new iteration of the framework that merges Python-based PyTorch with Caffe2 allowing developers to move from research to production in a more frictionless way without having to deal with migration. At Facebook, the company's AI efforts are split between two teams, the Facebook AI Research group (FAIR) and the company's Applied Machine Learning team (AML). The distinction ultimately boils down to one division researching AI with seemingly limitless computational resources at their disposal and the other looking to implement lightweight machine learning models more suited for consumers. In the past, the former mission has been better-suited for the research-optimized PyTorch while the more resource-efficient Caffe2 framework has made sense for the latter. Moving between these frameworks through research and production phases has been a bit of a headache for Facebook. PyTorch 1.0 fuses the best of both worlds with immediate and graph execution modes that should continue its research-focused prowess while gaining some optimizations for production.
Twilio Inc. (NYSE: TWLO) recently announced support for LINE within Twilio, making it possible for global developers to use one platform to reach customers on virtually any messaging channel. With the addition of LINE to Twilio Channels, developers and businesses can leverage one of the most popular messaging channels in Japan, Taiwan, Thailand and Indonesia to better serve customers in these regions. In addition to messaging, LINE provides content rich communications including native support for sharing images, audio and video files and interactive content types like menus, surveys and suggested responses. By using the Twilio platform to integrate LINE into their applications, developers have a uniform interface to take advantage of these rich capabilities and enhance the customer experience. LINE is the most recent messaging channel to be supported by the Twilio platform in addition to SMS, MMS, RCS, Facebook Messenger and more.
Twitter Inc. (NYSE: TWTR) recently announced financial results for its first quarter 2018. "The first quarter was a strong start to the year," said Jack Dorsey, Twitter CEO. "We grew our audience and engagement, marking another quarter of double digit year-over-year DAU growth, and continued our work to make it easier to follow topics, interests, and events on Twitter. We also introduced a new framework to think more cohesively about the issues affecting our service, including information quality and safety. This holistic approach will help us more effectively address these challenges by viewing them through the broader lens of the health of the public conversation, and we're encouraged by our initial progress in this area." "We're pleased to report growth across all major products and geographies in the first quarter," said Ned Segal, Twitter CFO. "We grew total revenue 21% year-over-year and owned-and-operated advertising revenue 28% year-over-year, driven by continued audience growth, differentiated ad product features, improved ROI, and better sales execution. Our strong revenue performance drove better than expected profits and GAAP net margins of 9%, reflecting our continued prioritization and disciplined execution across our strategic priorities."
Amazon.com Inc. (NASDAQ: AMZN) earlier this week announced plans to expand its Boston Tech Hub and create an additional 2,000 technology jobs in fields including machine learning, speech science, cloud computing, and robotics engineering. Together with its customer fulfillment facilities, Amazon has created more than 3,500 jobs in Massachusetts and since 2011 invested over $400 million in the state. "Amazon is excited to create 2,000 more jobs in greater Boston," said Rohit Prasad, Amazon's, Vice President and Head Scientist of Amazon Alexa, who is based in the Boston area. "In just a few years, we've grown from a handful of software developers and scientists to a team of more than 1,200, inventing new capabilities and products on behalf of millions of customers around the world. Thank you to all our partners across the city and the state for welcoming us, helping us create these thousands of new jobs, and contributing to the already vibrant tech industry in the area." "Massachusetts' innovation economy is powered by a talented workforce, exceptional educational institutions and companies like Amazon at the forefront of research and development," said Governor Charlie Baker. "Amazon's expansion in the Seaport will bring thousands of new jobs to the Commonwealth and build upon the hundreds of jobs they already have here in research and development, fulfillment centers and robotics."
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