Australian-listed artificial intelligence company OpenDNA envisions a future where consumers have relevant and personalised online experiences through greater control over their data. It is a future where advertising, marketing, and recommendations are powered by smarter machines.
At the moment, consumers are exposed to more advertising than ever before thanks to being always-connected; we’ve gone from being exposed to 500 ads a day back in the 1970s to as many as 5,000 a day today, according to some estimates.
However, targeted ads are often based on wrong assumptions that are drawn from people’s online movements, according to founder and CEO of OpenDNA Jay Shah.
This is the basis of why OpenDNA exists.
Founded in 2013, OpenDNA’s AI and machine learning system sits at the backend of mobile and web-based applications, analysing a customer’s interactions in real-time and automatically creating detailed psychographic user profiles.
This then enables businesses to automatically deliver more relevant and personalised customer experiences, which means greater engagement, retention, and ROI in marketing, according to OpenDNA.
The company said the benefit for consumers is that they have visibility over their data and can control their online experiences, with OpenDNA claiming consumers have “complete control and transparency” over their data; they can edit their interests and influence their personalised experiences in real-time.
There were two defining experiences that inspired the creation of OpenDNA: On one occasion, Shah had to dig up a valuable link that was buried in page 18 of Google’s search results.
“That’s when I realised there was something wrong here … Why is it on page 18? Apparently the keywords that I typed in were ones…