Eugene Terekhov, CEO of AiBUY – Interview Series by Unite.Ai
Eugene Terekhov is the CEO of AIBUY.
In one sentence, can you tell us what service AiBUY provides?
AiBUY is a content commerce platform that allows online retailers, advertisers and entertainers to sell products natively within their videos or images.
You recently finished an accelerator with Salesforce, can you tell us about your experience and one invaluable thing that you learned during the accelerator.
Salesforce is a major player in the customer relationship and online marketing software industry and The Salesforce Accelerate program that we are a part of is designed to fast-track unique solutions through the integration and partner process. We are excited that Salesforce identified AiBUY for this program and believe that content commerce at scale, specifically video commerce, has huge potential to disrupt the eCommerce space.
Can you talk about some of the technologies used by AiBUY?
AiBUY has a strong belief in using the right technologies for the job. This means we have a robust collection of technologies in use today, including but not limited to Kotlin, PHP, Python, Node.js, Tensorflow, Keras, and a variety of prebuilt and homegrown neural networks. We are proud to be working on the bleeding edge and working to push the limits of current technology.
Which platforms is AiBUY integrated with?
Currently AiBUY is integrated with eCommerce platforms such as Salesforce (formerly Demandware), Magento Commerce by Adobe, and Shopify. We also are finalizing partnership discussions with 5 other enterprise ecommerce platforms along with other innovative technology companies within the social media, visual marketing, data visualization and customer personalization industries.
In addition, we have a very exciting partnership we’re working on right now through our AiBUY Labs program. This is our innovation center where we test out new and innovative ideas that have potential to radically transform content commerce. Look out for more info on that to come – it’s really going to be a game changer for an industry that is expected to reach $80 Billion by 2022.
You’ll be launching a new product soon called BUYLiVE which is currently supported for YouTube Live. Can you tell the readers a bit more about how BUYLiVE works and what future platforms you see integrating well with?
Yes, we are very excited about BUYLiVE and the future of AiBUYs proprietary technology. BUYLiVE was a natural extension of our current shoppable video technology for live events. In today’s culture, consumer attention spans are short, and they expect so much more from brands & experiences. We are merging entertainment with an opportunity for live events to provide deeper engagement and increase revenue. Whether it’s a concert, sporting event or a new product release, companies will be able to activate a shopping experience or interaction without the consumer ever having to leave the content. Consumers can buy merchandise or future event tickets all while watching the event – imagine the impact that will have on consumer purchasing behavior!
I also want to touch on interactions and what I mean by that. Of course we can connect consumers for selling opportunities, but we can also integrate with customer data tools that allow for consumer personalization. Imagine watching a sporting event and you’re a super fan of an athlete or entertainer. We can distribute data to that super fan to deepen the engagement. Additionally, we may notice that a fan loves a particular team or a specific athlete and have the ability to promote products based on that knowledge – completing that customer journey like never before over video.
Below is a video example of different types of linking you can do within your live stream.
Aside from shoppable videos and live streams, how else can AiBUY be applied?
As I mentioned before, AiBUY has a division called AiBUY Labs. It’s our innovation stream, where we test out new and innovative ideas for potential solutions to radically transform enterprise clients content commerce strategy with startup speed and enterprise scale. Another way we work is strategically with the largest companies to leverage our technology for a much broader corporate strategy. The future of commerce is content commerce and AiBUY is powering it.
AiBUY uses an existing product catalogue to recognize items on the screen, can you talk about how the product catalogue is updated and expanded, and how comprehensive the catalogue is currently?
We can’t go into too much detail because it is proprietary, but we have built our platform to work very efficiently with product catalogues of any size. By integrating directly with the retailer’s ecommerce platform, we import and synchronize the product information and ensure data like inventory levels and product variance selections are maintained.
It does not matter if you are a smaller retailer with a few hundred SKUs or a large retailer with millions. Our system will process the product images and store the vectorized images to be used during video and image analysis to identify product matches.
What additional services do you envision AiBUY offering in the future?
The future really is very interesting as our patent coverage has a broad range of opportunities. Our interactive and shoppable media tech covers all sorts of mediums like mobile, web, OTT, AVOD, TVOD, and SVOD and potentially other future media types that might not even be available today. We’re looking forward to what is to come.
Do you have anything else you would like to share with the readers?
We’re looking forward to defining the future of Commerce.