AI/ML

New AI/ML Firm MachineVantage Launches with Financing from Unilever Ventures and IRI

MachineVantage

MachineVantage is the latest entrant in the Artificial Intelligence and Machine Learning sector. The company, which has been funded by IRI and Unilever Ventures, enables users to deploy AI/ ML-powered algorithms focused exclusively on marketing, and product innovation.

Focused on consumer product and marketing innovations, MachineVantage applies proprietary artificial intelligence algorithms and machine learning techniques to extract product innovations, brand semiotics, creative inspiration, and digital and retail point of sale messaging. The company works with major multinational clients in North America  Europe, the Asia-Pacific, Latin America, and the Middle East.

Andrew Appel, President and Chief Executive Officer, IRI, said, “Bringing the algorithmic power of artificial intelligence and machine learning to all of IRI’s data and the IRI Liquid Data® platform has the power to re-invent marketing by transforming how advertisers develop and deliver personalized audiences and then optimize those campaigns in real time based on purchase lift.”

Smart Marketers Seek the Extraordinary Algorithmic Power of AI/ML

Based in Berkeley, MachineVantage was founded in 2016 by Dr AK Pradeep, who pioneered the field of neuromarketing, which studies the application of advanced neuroscience principles to marketing. His firm NeuroFocus, a leader in the field, was acquired by Nielsen in 2011. Pradeep’s previous venture,  BoardVantage, was a SaaS company, that was acquired by NASDAQ in 2016.

Recommended Read: Will Artificial Intelligence Exceed Human Performance in Marketing and Sales by 2025?

Pradeep said, “Many of the world’s smartest marketers are looking to leverage the extraordinary algorithmic power of artificial intelligence and machine learning to gain a competitive advantage. What makes MachineVantage stand out is our deep understanding of the foundational principles driving consumer purchase behavior, combined with our unique algorithms that process information that consumers imbibe under the threshold of conscious consumption. We’re privileged to have global innovators like IRI and Unilever join us in delighting consumers everywhere.”

“MachineVantage’s AI/ML technologies are developed ground-up for marketing professionals, branding and advertising agencies, and product innovators across diverse industries.”

Unilever And IRI Focused On Accelerating AI/ML Capabilities

Headquartered in Chicago, IRI is a leading provider of big data, predictive analytics, and forward-looking insights. As one of the original innovators in big data, IRI integrates the world’s largest set of otherwise disconnected purchase, media, social, causal, and loyalty data to that help consumer goods, healthcare organizations, retailers, financial services, and media companies to grow their businesses.

Stan Sthanunathan, Executive Vice President – Consumer and Market Insights, Unilever, said,”It is crucial to understand consumer trends and preferences and to determine how our brands can best respond to people’s evolving needs. We are already using Artificial Intelligence and Machine Learning to gain insights that our product development and marketing teams can translate quickly and effectively into innovations. A year of working with MachineVantage convinced us of the unique power of their technology and the value of our investment.”

Read Also: Nielsen Builds a New AI-Brain – “Nielsen AI” for Marketing Cloud

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