OpenAI has acquired Crossing Minds, an AI-driven recommendation solutions provider for e-commerce, to transfer its founding team. Financial details were not disclosed. Founded in 2016, Crossing Minds has raised over $13.5 million, with investors like Index Ventures and Shopify. The acquisition aims to enhance OpenAI's personalization features and support its long-term AGI development plans. Crossing Minds will cease operations and no longer accept new customers.

'DRINKS Recommend', leveraging Crossing Minds' state-of-the-art deep learning platform, delivers AI-driven wine recommendations that increase sales, customer engagementLOS ANGELES, Feb. 22, 2024 /PRNewswire/ -- DRINKS, the pioneering and leading operating system for alcohol e-commerce, today released new data from its AI-powered wine recommendation tool, DRINKS Recommend, that illustrates its ability to nearly double revenue from recommendations for online wine merchants.DRINKS Recommend was recently deployed on select pages by two major online wine retailers, selling in excess of 250,000 bottles a month. Compared to pages that offered an industry standard "most popular" set of wine recommendations, pages that implemented DRINKS Recommend delivered:Increased conversions: a 175% increase in attributed session conversionsa 175% increase in attributed session conversions Increased revenue : a 78% increase in average revenue per session: a 78% increase in average revenue per session Increased engagement: a 52% increase in click through rateDRINKS Recommend is the newest product built on DRINKS' patented AI models, called PAIR ("Predictive AI Retailing"). PAIR analyzes wine prices, regions, varietals, tasting notes, descriptions, label features, and how a product is perceived by customers to develop personalized product recommendations tailored to online merchants, their products, and their customers."We're in the business of using technology to transform all aspects of the alcohol industry, and that includes how it gets marketed online. Most people buy wine based on the label, and our deep industry experience and engineering talent enabled us to build AI-based tech that delivers accurate and personalized wine recommendations based on factors such as label variations," said Zac Brandenberg, DRINKS Co-Founder and CEO. "This is poised to be a game-changer for those on both sides of the aisle (or screen), delivering a better experience for wine shoppers and increased bottom lines for businesses who use it."Performance for DRINKS Recommend on Shopify marks first results since migrating to the Crossing Minds platformThe performance of DRINKS Recommend on Shopify marks the first results since DRINKS migrated their recommendation model training and delivery pipeline from AWS SageMaker to Crossing Minds' cutting-edge recommendation platform

Crossing Minds announced the release of a new e-commerce data enrichment product that makes e-commerce products more intuitively discoverable to customers.