Source: Token, iTunes
According to a survey commissioned by the University of Oxford and Yale University, artificial intelligence (AI) researchers see a 50 percent chance that AI will be able to perform all human tasks better than humans by 2060. So why can’t AI already help with gift suggestions?
Token.ai, a start-up addressing the opportunity that recently secured $2.5 million in seed funding, has developed an app that enables users to describe their needs, such as the gift occasion, who the gift is for, style preferences and budget. From there, Token’s "team of gift curators," which is also trained in etiquette, cultural traditions and industry trends, leverage AI insights to make recommendations ranging from well-known to undiscovered brands.
“Gift-giving in the U.S. is a $131 billion market, yet until now, the experience has been overwhelmingly painful and time-intensive,” said Jonathan Jarvis, Token CEO, in a statement. “Leveraging our talented gift curators and specialized AI platform, we make it easy to give something that’s creatively thoughtful, unique and unforgettable.”
Gift giving empowered by artificial intelligence first gained media attention last spring when 1-800-Flowers launched GWYN (Gifts When You Need). The service, powered by IBM’s Watson, helps customers “sift through more than 7,000 products to find the perfect gift.”
In March 2017, an IBM survey showed 80 percent of customers using GWYN on 1-800-flowers.com had a positive experience and wanted to use it again.
At the time, Harry & David’s, a sister company of 1-800-Flowers.com selling fruit and gourmet food products, introduced GWYN on its website. When a shopper types "I'm looking to send a thank you gift" on harryanddavid.com, GWYN interprets the question and asks a series of additional qualifying questions about the occasion, sentiment and who the gift is for. Gift-givers’ needs and wants are learned and refined over time.
The tech tools arrive as research shows gift giving is most challenging for those closest to the giver. Karen Pine, the U.K.'s University of Hertfordshire's professor of psychology, told Time magazine, “The more the relationship matters, the more we worry about getting it right.”
- Will AI Take Over? Artificial Intelligence Will Best Humans At Everything By 2060, Experts Say – Newsweek
- Token.ai Launches, Announces $2.5 Million in Funding, to Make Gift-Giving Easier and More Meaningful – Token.ai/PRWeb
- 1-800-FLOWERS.COM Launches Beta of "GWYN", an Artificial Intelligence Powered Online Shopping Experience – 1-800-Flowers
- Harry & David Embarks on Cognitive Journey with IBM Watson Customer Engagementa – Harry & David
- Do You Buy Your Spouse the Same Thing Every Year? What Your Gift-Giving Habits Say About You – Time