Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Re:infer’s AI Helps E-commerce Thrive via Smart Chatting

E-commerce has a problem: it does not listen to its customers.

When it started gaining momentum, in the 1990s, the great promise of online shopping was to give you more stuff, and at a cheaper price. Customer care was sacrificed on the altar of quickness and effectiveness.

But as they take up an ever-increasing share of retail, e-commerce companies have to address the issue of understanding what their customers really want, and what they really do not like. Few online marketplaces can afford hiring a platoon of call centre workers, and long-drawn-out email conversations can be frustrating— let alone the fact that both methods usually fail to provide the company with actionable insights. Thus, enter Re:infer— a British start-up using deep learning to solve all of the above.

15223879057_b58ed1222b_z

Few online marketplaces can afford hiring a platoon of call centre workers, and long-drawn-out email conversations can be frustrating. Plus, both methods fail to yield actionable insights. (Picture via bit.ly/2bxCtWN)

Founded last year by University College London’s AI researchers Edward Challis, Marius Cobzarenco and David Barber, Re:infer builds AI “agents” able engage in natural written conversation with users — whether on chat, on a company’s app or website, or via email. But that is just the beginning.

“Our ultimate ambition is help all businesses understand the response  from their customers,” Challis explains. “ Businesses are already talking to their customers a lot— on chats, emails, bots— but they don’t even know what’s going on in those conversation. And crucially they do not know how to extract useful information from conversations they’re already having with their customers.”

 Businesses are already talking to their customers a lot— on chats, emails, bots— but they don’t even know what’s going on in those conversation. – Edward Challis

Re:infer’s software is able to sift through thousands of conversations to quickly spot what are the most urgent issues and relevant trends among a company’s customer base. Challis explains  that while companies generally have a great deal of details about what their users do (how long they stay on a page, what they search for, etc.), they know very little about the reasoning behind those actions.

“Web analytics tools  can tell you if a person clicks on this, or clicks on that, but you’ll never know why they are doing it. Still, if you talk to someone they’ll tell you exactly why they are behaving how they are,” he says. “They’d say incredibly obvious things that are still incredibly valuable— for instance, they’ll tell you they are unhappy because they can’t pay in a certain currency.”

Re:infer, which has received seed funding from Seedcamp and plans to raise $1 million, is already working with high-end fashion online store Farfetch.

“Our ideal customer is any business with a high ratio between employees and customers. There’s no point in providing our service to, say, a consultancy with a one-to-one ratio.” Challis says.”But for companies with a high ratio, and a desire to be customer-centric, we are right on track.”

reinfer-2-sq

Re:infer, which has received seed funding from Seedcamp and plans to raise $1 million, is already working with high-end fashion online store Farfetch

Follow Re:infer Twitter

SHARE THIS ARTICLE:
BY SHACK15

Co-working space and blog dedicated to all things data science.

Subscribe to our newsletter