Slyce Leads The Competition In Visual Search And RecognitionSeptember 4, 2015 - Author: steph - No Comments
Visual search and image recognition technology is becoming the wave of the future. Cusumers using this particular technology can use their cell phones to point to a product in a store and the application will immediately recognize the product and bring up a similar product for price comparison. Amazon Flow uses this technology to link consumers to products on Amazon. If Amazon offers a lower price, the customer then has the option of doing business with Amazon instead of the store in which the product was found. Customers find that they can save a lot of money by using this technology.
Slyce is a company that uses similar technology. The company is based in Toronto, but does the bulk of its business in the United States. Slyce seeks to use its funding to be superior to Amazon Flow. In order for Amazon Flow to be used effectively, the product being scanned on the smartphone has to be in its original packaging. Slyce does not require the product to be in its original packaging before it brings the product up for price comparison. This means that you can take a picture of a toaster in your house, a shirt that a friend has on, or any other product, and Slyce will bring up the product and how much it costs with the appropriate online retailer. The technology gets very specific, even identifying small things such as the number of buttons on a shirt and what color the product is in order to give the best possible match for consumers. This gives Slyce a competitive edge and is more convenient for potential customers.
Slyce will also be used by retailers to gather data based on the types of pictures that are being taken by smartphones. Even if a consumer does not purchase a particular product from that retailer, if the consumer takes a picture, that picture can be used by retailers to see which types of products are popular with consumers. This data will then be used for marketing purposes.
Slyce is without a doubt an awesome company with excellent technology, regardless of if you are a consumer or a retailer. It serves consumers by giving them the option to take a picture of a particular product and match them with a similar product which can be purchased online for a cheaper price. It serves retailers by matching them with customers they might not have gotten otherwise and at the same time gives them valuable information they can use for future marketing. This makes Slyce unique and miles ahead of the competition.