Velebit AI featured in Besedo 2020 Marketplaces predictions
On December 11, 2019
AI-powered Visual Search & Browsing, Visual Recommending, and Automatic Image Tagging simplify and speed up the ad search for users, as well as enrich the content and make standard search tools more effective.
Besedo is an industry leader in content moderation tools and services that, alongside the use of experienced agents for manual moderation, excels in the use of AI and automated filters. This helps online marketplaces, dating sites, and other online communities in fraud prevention, removal of illegal content and UX optimization.
By far, the largest beneficiaries of such solutions are online marketplaces. Online marketplaces or classifieds are especially challenging because of large amounts of user content: ads, images, and private messages. In spite of vast amounts of data, the moderation platform must in near real-time take care of illegal content and poor quality of descriptions and images.
Besedo asked Velebit AI and other industry leaders for their thoughts on Marketplace Trends for 2020. Many different predictions have been proposed and while some are worried about the data privacy and doubt the impact of AR/VR and AI, others don’t share such concerns and think new technologies accompanied by great ideas will completely disrupt the marketplace industry.
This is how we see it:
With the marketplace battlefield quickly shifting from desktop to mobile, fluid and mobile-optimized UX is already a dominant trend and will only strengthen in the following year. Millennials and Gen-Z generations are now used to the paradigm of “Now or Never”. They expect to get a taxi, watch a film, or buy stuff online almost instantaneously. This puts a heavy emphasis on an optimal mobile interface.
Classifieds and marketplaces have, ever since the dawn of the Internet, been relying on the text and filter search as the primary search mechanisms. Cluttered mobile screens and small keyboards frustrate users. This is bound to change as the AI-based technologies are quickly gaining track.
AI-powered Visual Search & Browsing, Visual Recommending, and Automatic Image Tagging simplify and speed up the ad search for users, as well as enrich the content and make standard search tools more effective. The bottlenecked mobile search is looking at a complete transformation where instead of text, the image or even video becomes the dominant way of the website navigation.
Marketplaces that manage to implement AI solutions in the right way are seeing large improvements in user engagement, matchmaking between sellers and buyers, while at the same time increase the time-on-site and number of ads viewed. Implementing AI technologies is not an easy task, but if done right, the pay-off is immediate.”
If you want to see what other industry players think and how they look at re-shaping of the industry read the whole Besedo blog that brings many relevant insights.
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This year's changes brought fast transition to online and scale, both from the side of the economy and side of data, to many marketplaces. In 2021 that will allow faster implementation of AI-powered technologies such as advanced Cognitive Search, Visual Search, AI-based Recommending and Matchmaking of buyers and sellers.
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