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A new Midlands-based tech firm has launched with the aim of using artificial intelligence to become the world’s number one shopping discovery site.
Lichfield-based RedBrain is an online sales generation provider that delivers high-quality leads to retailers, ranging from the likes of eBay and Wallmart to House of Fraser, Currys and Nike.
The firm is able to do this through their network of shopping comparison websites, online search expertise and innovative use of artificial intelligence, which helps to analyse user behaviour and determine when online shoppers are likely to make a purchase.
RedBrain was born out of online shopping business ASAP Compare and is part of the Potential group of companies, also based in Lichfield.
The ASAP business has grown since 2010 to manage 300 million plus products across 13 different shopping sites, delivering sales traffic to over 3,000 retailers across the world.
The RedBrain business is set to build on this experience as it bids to become the number one shopping discovery site in the world.
RedBrain CEO Alex Major said: “We believe we can help retailers connect with customers who are actively looking for their products and services.
“As an example, we know that if someone checks out a TV on a review site on a Saturday that person is more likely to make a purchase on the following Monday.
“Using that intelligence we bid high on paid for adverts on sites such as Google. It’s worth our while because we know there is a good chance of making a sale.
“If we get it wrong then there is no cost to the retailer. If we get it right they get a sale they would not have otherwise made and we receive a commission.”
With 70% of the business coming from the US, RedBrain has plans to rapidly develop hundreds of niche shopping sites globally and to expand its footprint in Europe over the coming months while at the same time moving into new areas like shopping chatbots.
RedBrain COO Paul Humphreys said: “People are using Amazon Alexa and Google Home to add items to their shopping list to remind them to pick up bread or washing up liquid.
“We believe there is potential to use chatbots for more considered purchases and we can facilitate answers to highly specific shopping search queries like: ‘Where can I buy a black Nespresso Vertuo coffee machine near to where I live, today?’”