A search application program interface (API) offered by OddConcepts, a member of the K-ICT Born2Global Centre, would enable the fashion shoppers to dramatically ease their shopping experience as well as get the best options that are best suited for them.
The application first asks the user to choose clothes that are the most likely matches to his or her tastes. Then an image search engine DeepLook is automatically employed by the software to look for clothes with similar styles and cuts and presents the results to the user. The application is even capable to locate similar clothes that hang in the store apart from searching out similar types of clothing that are worn by a model. The basis of the search are shape, color, and pattern.
The company has purposefully chosen the fashion industry to engage with its B2B business model for the app. The firm believes that offering of optimized solutions which have the power to fulfill the demands and needs of the actual users is a better way to gain competitiveness instead of concentrating on projects that are more visible.
Technologies such as optical character recognition (OCR) or facial recognition are not the investment area of the firm. Instead, image and video search are the areas where the company ahs expended most of its research and development budget.
Odd Concepts CEO Kim Jeongtae said, “My idea for this business came from the fact that while other e-commerce companies are using various types of search techniques, the fashion industry was still depending on a very primitive form of search. With our commercialization of an AI-based search function, shoppers can now find not only clothing of similar styles but also the prices at which such clothing is sold on other sites, thus naturally allowing for easy price comparison.”
And the results of the strategy are paying off as the company now has managed to reach the rate of about 150 million API calls a month and it has not even been a year that the frim had launched its DeepLook service in February 2017. At the beginning of the launch there were only about 100,000 API calls made to the firm during the first month. And in a time period of just 10 months, the number of monthly users of the app has touched four million. The monthly call rate has seen an unprecedented increase of 1,500-fold since February.
Japanese e-commerce sites account for about 15 to 20 percent of the total API calls to the firm. Kim said, “We chose Japan as our first market because, unlike other East Asian countries, it has a unique, closed-off fashion ecosystem. After three months of knocking on doors, traffic increased by over 70-fold in six months, which eventually enabled us to secure an investment from a Japanese venture capital firm.”
The company intends to better serve local markets y partnering with local companies and make even greater use of artificial intelligence and machine learning to enhance search accuracy.
Kim said, “Based on the DeepLook engine currently in operation, we are planning an additional search engine that is focused on content.” He then went on to explain that the company will continue seeking investment from global investment companies and plans to apply the data it has gained through DeepLook to various types of content, thereby expanding the scope of its business
(Adapted from Prnewswire.com)