Bally’s Partners with AI Startup PRE for Luxury eCommerce Makeover

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Bally’s Partners with AI Startup PRE for Luxury eCommerce Makeover

Bally, the renowned Swiss luxury brand, has joined forces with the AI startup PRE to revolutionize its online store. PRE, formerly known as Predictive Commerce, is based in Toronto and specializes in human behavior modeling to analyze websites. Through this partnership, they aim to optimize Bally’s e-commerce business by leveraging AI technology.

The collaboration between Bally and PRE has been ongoing for several months, with significant progress made in the past six months. PRE impressed Bally with its AI capabilities, particularly its ability to create virtual shoppers that simulate the brand’s online customers. By focusing specifically on luxury fashion shoppers, PRE provided valuable insights that helped Bally understand the features and services that yield the best results.

Bally was equally impressed with the speed of execution demonstrated by PRE. Within minutes, PRE provided relevant and actionable statistics, which Bally used to enhance the digital user journey on their website. This ability to quickly generate valuable insights has been instrumental in optimizing Bally’s online shopping experience.

PRE’s innovative approach has unveiled critical aspects of Bally’s e-commerce that would have been difficult and time-consuming to identify otherwise. For example, they discovered that virtual shoppers were struggling with the site’s size recommendation feature, resulting in significant disengagement after 15 seconds. This finding led to the development of a new size translation tool, currently undergoing testing before its official launch.

Additionally, by analyzing the impact of product descriptions on shoppers, PRE and Bally utilized generative AI to rewrite these descriptions based on behavior modeling. This optimization process aims to enhance the overall shopping experience for customers.

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Looking ahead, Bally and PRE envision further advancements and innovations enabled by AI on Bally.com. As the CEO and founder of PRE, Parham Aarabi, emphasizes the business applications of these tools. While AI technology has limitless potential, it also raises ethical considerations. Aarabi, who is also a professor of applied artificial intelligence at the University of Toronto, employs a unique method that incorporates data from various sources, making duplication challenging.

PRE’s journey exemplifies the current AI era, as each breakthrough paves the way for new use cases, tools, and platforms. Originally conceived as a smarter way of conducting website A/B testing, the capabilities of PRE’s behavior modeling have expanded within a year of its launch, propelling the company to explore its potential in various domains.

In summary, Bally’s collaboration with AI startup PRE marks an exciting chapter in luxury e-commerce. By harnessing the power of AI and human behavior modeling, Bally aims to enhance the online shopping experience for its discerning customers. As technology continues to evolve, the possibilities for AI in the retail industry are vast, and innovative partnerships like this one pave the way for future advancements.

Frequently Asked Questions (FAQs) Related to the Above News

What is Bally's partnership with AI startup PRE about?

Bally has partnered with AI startup PRE to revolutionize its online store and optimize its e-commerce business using AI technology and human behavior modeling.

What is PRE known for?

PRE, formerly known as Predictive Commerce, specializes in human behavior modeling to analyze websites and provide insights for optimization.

How long has the collaboration between Bally and PRE been going on?

The collaboration between Bally and PRE has been ongoing for several months, with significant progress made in the past six months.

What impressed Bally about PRE's AI capabilities?

Bally was impressed with PRE's ability to create virtual shoppers that simulate the brand's online customers and provide valuable insights for optimizing the digital user journey.

How quickly can PRE provide insights to Bally?

PRE can provide relevant and actionable statistics to Bally within minutes, allowing for quick optimizations and improvements.

What critical aspects of Bally's e-commerce did PRE uncover?

PRE discovered issues with Bally's size recommendation feature, leading to the development of a new size translation tool. They also analyzed the impact of product descriptions on shoppers and utilized generative AI to optimize these descriptions.

What are Bally and PRE envisioning for the future of Bally.com?

Bally and PRE envision further advancements and innovations enabled by AI technology on Bally.com to enhance the online shopping experience for customers.

What ethical considerations does PRE take into account?

PRE's CEO and founder, Parham Aarabi, who is also a professor of applied artificial intelligence, incorporates data from various sources, making duplication challenging to address ethical concerns.

How has PRE's capabilities expanded within a year of its launch?

Originally conceived as a smarter way of conducting website A/B testing, PRE's behavior modeling capabilities have expanded, leading the company to explore its potential in various domains.

What does Bally's collaboration with PRE mean for luxury e-commerce?

Bally's collaboration with PRE marks an exciting chapter in luxury e-commerce as they aim to enhance the online shopping experience using AI and human behavior modeling, paving the way for future advancements in the retail industry.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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