eMarketer: Artificial Intelligence Incubators – Why Canada’s Hubs for AI Research Are Attracting Global Tech

Excerpt: Historically, search’s view to intent was clear, and ad products were simple and reliable. But predictive search tools that recommend products or content based on personalization are on many brands’ wish lists, especially those that sell online.

“Predictive search, which we define as the capability of a platform to anticipate what a consumer is most likely looking for, is growing for all of our clients,” said Devon MacDonald, CEO of Mindshare Canada. “As media platforms learn more about consumer behavior and intent through AI, there are incredible opportunities to provide information and product recommendations to consumers. Predictive search anticipates what the needs of the consumer are, based on their own and similar consumers’ previous behaviors, and in the process shortens the purchase cycle to a single view or click in some instances.”

Almost two thirds (65%) of senior retail marketers in North America and the UK surveyed by Monetate in late 2017 said they were actively using a product recommendation engine. Only 11% of respondents said they had no plans to implement one.

To learn more, read the full eMarketer report.