Smartphone Tracking Data And Artificial Intelligence Turn People’s Movements Into Detailed Insights And Profits
Not all businesses experienced a setback due to COVID-19. Cosmose AI, a company that uses machine learning to predict who will go shopping as well as when and where, plus measures the effectiveness of online ads to online and in-person store visits, expanded during the pandemic. Valued at $100 million after a Series A investment round by Tiga Investments, OTB Ventures, and TDJ Pitango, many retailers turned to the insights provided by Cosmose AI’s artificial intelligence-powered service to figure out how to best operate during the pandemic and prepare for a new future.
Insights for Retailers from Cosmose AI’s AI-Powered Platform
Founded in 2014, Cosmose AI gathers anonymized mobile phone data including user IDs, location info, and more from more than 1 billion smartphones, more than 400,000 apps, 360,000 stores and then shares insights about consumer behavior with some of the world’s biggest brands, including Walmart, Gucci, Cartier, Budweiser, Tencent, L’Oreal, Samsung and Marriott. The company plans to extend its reach across Asia to 2 billion smartphones and 10 million stores by 2022. Cosmose AI’s platform doesn’t require the installation of specific hardware or beacons and works seamlessly with Google, Facebook, WeChat, and more.
Retailers receive accurate location info within 2 meters. Cosmose AI’s predictive shopping AI informs retailers about who will shop when and where they will go. According to the company, this AI delivers 73% accuracy for the beauty category. This insight helps retailers understand how many people visit brick-and-mortar store locations after seeing or clicking an ad online and also how to improve the customer experience, sales, and advertising strategies, and customer retention. Marketers had previously been able to track online ad effectiveness for online traffic, but now through