Walmart adopts Artificial Intelligence software to enhance the end-to-end shopping experience. The company announced that it has acquired Aspectiva, an Israeli-based start-up from Tel aviv, for an undisclosed sum of money. Aspectiva will be joining Walmart’s Store No 8, the incubation arm launched by the retailer in 2017 to uncover the ideas that will transform the future of commerce.
Aspectiva has built an Artificial Intelligence software suite to analyzes consumer opinions and turning them into valuable insights in order to help eCommerce visitors to make informed decisions resulting in increased online conversion rates. By applying deep Natural Language Processing and Machine Learning, Aspectiva surfaces what people say about any product and understands what they feel about it. The software automatically identifies product attributes shoppers talk about by analyzing massive volumes of user generated content.
Aspectiva was founded in 2013 by Ezra Daya, Eyal Hurwitz and Yoad Arad. Prior to founding Aspectiva, The CEO Ezra Daya managed the global Text Analytics group at NICE Systems. The CTO Eyal Hurwitz is also a veteran of NICE Systems where he served as a senior scientist and led innovative initiatives, including international collaborations. Yoad Arad, VP Business Development, held senior sales roles at Clicktale, McAfee (Intel Security) and ECI.
“Aspectiva has developed incredibly sophisticated machine learning techniques and natural language processing capabilities, which are areas we believe will have profound impact on how customers will shop in the future,” said Lori Flees, Principal of Store No 8. This is not the first activity for Walmart with Israeli-based technology companies. It has also made a strategic investment in Team8, an Israeli think tank and tech incubator, launched a joint venture with Eko, an interactive media and technology company with offices in Tel Aviv and New York, and recently joined The Bridge, a technology accelerator connecting global companies with the start-up community in Israel.