Together with consumer goods manufacturer Mondelēz International, Markant Group, with its specialist AI subsidiary Retail.ai, developed a prototype that uses generative artificial intelligence to create channel- and target group-specific product descriptions. The solution, called Product Wizard, was awarded a prize in the Innovation Excellence category by the jury of the GS1 Germany ECR Awards at this year’s ECR Day in Bonn.
Product descriptions are often not very inspiring. Only rarely customers receive personalised marketing messages. In most cases, there is only one text addressing all target groups. With their project, Markant and Mondelēz aimed to face this challenge. Moreover, the companies wish to promote impulse sales via online channels.
The Product Wizard generates informative product messages in a tonality that is appropriate for the respective target group. Using artificial intelligence, the software generates high-quality text proposals for different application areas, such as online stores or advertising.
GDSN data pool serves as a source
To formulate messages, the software exclusively uses approved data from the GDSN data pool as well as images and quality attributes provided there. The descriptions are continuously optimised through ongoing training with existing texts and regular evaluation of the generated content.
This accelerates and simplifies provision of electronic product information for retailers and manufacturers without having to rely on external services. Companies save time and resources and can expect significant increases in sales thanks to a personalised approach to their customers.
Markant start-up supports the industry with generative AI
Markant AG founded Retail.ai GmbH in April of this year together with AI specialists Dr Peter Gentsch and Christian Au. The start-up aims to support retailers and consumer goods industry deploying generative AI. It provides the industry with generative AI solutions, an academy for up- and re-skilling employees, a lab for industry-specific AI research and a community called Alliance, which functions as a user forum and knowledge hub.
Retail.ai offers the solution as software-as-a-service via Markant’s services marketplace. On this platform, Markant also offers services to facilitate the exchange of product data between retailers and suppliers. At the beginning of 2023, Markant Group acquired a majority stake in Bayard, the Cologne-based specialist provider of product information management (PIM) services. The Retail Optimiser reported.
