International E-commerce: Personalization needed to drive sales
New AX Semantic Software increases AI driven automatic language generation. AX Semantics GmbH, Stuttgart, a major player for cloud service natural language automation is launching a new AI based software, which generates automatic texts in 110 languages in seconds, ideal for e-commerce providers to automate product catalogue production in large quantities across multiple countries. Plug and Play Ventures, California, is joining the list of international backers for AX Semantics as the company continues to expand internationally and support e-commerce operations worldwide.
Globalisation in E-commerce Market
With the increasing competition from the almost duopoly of global players Amazon and Google and the entry of Alibaba in the European market, other E-commerce providers will need to scale globally. Mckinsey predicts that in 2020, more than 30 percent of the commercial goods traffic will be cross border. Approximately 40 percent of turnover is expected from the global E-commerce market. Some smaller European companies are lagging behind.
Consumer wants personalisation
According to a Mckinsey Global Institute study, a consumer purchase is six times more likely when the product is offered in a local language and two in three consumers believe that customer care is more important than price. It is now possible to personalise language in content through cost effective automation.
About the software – artificial intelligence enhances performanc
In the Eckerson Group Report "The Ultimate Guide to Natural Language Generation”, the NLG solution is described:
“AX Semantics’ intuitive interface and rules-based approach provides customers with the simplicity of a template-driven tool but the capabilities of an algorithm-based tool."
Saim Alkan, AX Semantics founder & CEO comments:
“Artificial intelligence is helping us increase automation of marketing tasks like multi-language content creation for E-commerce product descriptions, reducing production costs and increasing market potential for our customers. I am excited about this technology that can help smaller e-commerce players reach a consumer in their own language. We are not losing the need for human involvement like imagination to appeal to consumers, just automating repetitive tasks.”
AX Semantics uses neural components to solve the more complex task of natural language generation one being the morphology, the other text analysis and allocation of pre-annotated rules for automation. These components have been integrated into the existing software capabilities (user controls the output, scaling up to 100 million texts a day) - and together make up the only self-service NLG software which can be used by anybody. The artificial intelligence in the software supports the user with the production of ‘Smart texts’, in which the user can control the content, writing style and wording. The software is capable of producing enormous volumes of texts in seconds from variable data sources through a simple to use interface. Individual data can be managed through upload or API onto the central platform. The data can be converted into different text variations and desired local language, ranging from European languages, simplified Chinese to Arabic. For each language, multiple semantic variations can be programmed to individual needs, such as the text length and key words. AX Semantics software is capable of generating multiple personalised language variations in 110 languages in seconds. The AX Semantics view of democratising deep tech with low prices ensures that smaller E-commerce companies can benefit.
About AX Semantics
AX Semantics, Stuttgart is a high-performance cloud service provider with market leading capabilities in natural language generation, voted in the top five innovative companies in Germany by Accenture with Wirtschaftswoche and commended by MIT. Based in Stuttgart, the company has 42 employees and over 200 customers from fifteen different countries across Latin America, Europe and in the USA. The technology and software is not limited to one topic but can be individualised to each company and market. AX Semantics is a platform provider for any company with text needs across publishing, e-commerce and financial markets. Clients include companies such as College factual (USA Today), Staples, Deloitte, BASF, Jardine Motors, Euronics. It is financially backed by private German media investors, with additional funding and scholarships by the Google Digital News Initiative, New York Tow Center for Digital Journalism and the Volkswagen Digital News Initiative. With further backing from Plug and Play Ventures, expansion in the USA and internationally will continue.