German technology company SAP has named artificial intelligence (AI) startup Syte as an innovation partner in order to enhance the personalisation capabilities of retailers.
As part of the deal, SAP will utilise Visual AI technology from Syte to enable advanced personalisation capabilities for shoppers.
Go deeper with GlobalData
The company will also support retailers in quantifying and leveraging the impact of influencer marketing on the market.
Syte CEO and co-founder Ofer Fryman said: “To add SAP to our list of partners is an incredible accomplishment for Syte. SAP’s eagerness to innovate will allow us to apply our technology to solve some of retail’s strongest pain points.”
The company also noted that such partnerships will provide significant opportunities for retailers by allowing them to adopt the latest technologies.
Established in 2015, Syte offers visual AI technology solutions to enhance navigation, product discovery and user experience on online retail platforms, as well as engage and convert shoppers.
Various major retailers such as Farfetch, Nike, Marks & Spencer and Bonprix are currently using Syte’s technology.
The company also established partnerships with technology innovators such as Microsoft, SAP, Naver, and Oracle to power its solutions.
In January, Syte introduced a Visual Search Navigation tool intended for retailers to enhance the shopping experience.
Using the tool, retailers can allow shoppers to visually navigate, filter and search for products.
