AI and computer vision focussed company GumGum today announced that they’ve partnered with ad tech software company Simplaex to use their AI-powered traffic shaping tool, Rivr.
The AI and computer vision focussed company said they will be using the AI-powered traffic shaping tool by Simplaex to improve its supply-side platforms (SSP) programmatic auction performance and adjust the companies current ad model with the goal to improve operational efficiency and performances.
Ken Weiner, CTO at GumGum explained how Simplaex’s AI-powered traffic shaping tool will help them by saying: “By incorporating Rivr into our auction process, our SSP has been able to deliver higher-quality traffic to each of its demand partners––driving better performance at a lower cost. Using Rivr’s machine learning to tackle more mundane tasks, we’ve been able to direct more of our own machine learning efforts toward our core business priorities.”
COVID-19 has had an impact on advertising spend with companies across various industries and sectors reducing their spend with uncertainty about buying habits and unemployment rates rising.
However, not all advertising has stopped and the current economic climate is paving the way for companies using peoples data to create smarter and more cost effective advertising campaigns using increasing amounts of data points for validation before actually launching and spending money.
Only last month data-driven marketing company Stirista raised $13m to fuel their planned expansions and Adverity announced they had raised $30m in the height of the COVID-19 global outbreaks proving that companies and investors are still bullish on the potential gains and that end-users or ad viewers are still purchasing from ads.
GumGum is an AI company with a focus on computer vision and natural language processing that works across multiple industries with specialisms in extracting information from text, images, and videos to help clients better understand the data and make informed decisions.
The AI and computer vision focussed company use illustrations that consist of organic lines that highlight the different types of image recognition using accents of their primary colors that are used to accentuate distinctive characteristics of the objects they are applied to.
GumGum claims to work with 70% of Fortune 100 companies, analyse 500m images each month, and has seven patents granted or pending for their technology and AI capabilities.
By using their patented technology and AI capabilities, GumGum enables clients and marketers to place contextually relevant ads where users are most likely to see them resulting in more cost-effective results and potentially reducing cost per leads.
Rivr provides an out-of-the-box traffic shaping solution that adapts to the server it is working on allowing for simple integration with GumGum and any of the social or search platforms they are working on with clients.
The AI and computer vision focussed company GumGum has witnessed impressive growth since being founded in 2008 with the company claiming they have a team of 240 people across 16 global offices and representing clients in three divisions: advertising, sports, and social.
Moti Tal, CTO at Simplaex said: “From years of working on both sides of the programmatic ecosystem it became clear that improvements needed to be made. Traffic shaping, with the ability to understand audience targeting, has the power to decrease infrastructure costs and increase performance while at the same time improving the DSP-SSP relationship. This has become especially important as we navigate tumultuous times where there’s been an unpredictable increase in supply and decrease in demand.”
By analysing the data from GumGum’s completed auctions on an audience level, Rivr determines which DSPs are most relevant to the inventory to give an idea on what areas to target and why.
This information is then used to train AI-models through machine learning and provide actionable suggestions to the servers that run the auctions and ads which results in helping validate that partners and clients are getting the right traffic which can help improve performance and efficiency.
The partnership between the two companies has been going since the start of 2020 and has so far helped the AI and computer vision focussed company cut the number of bid requests sent out by over 30% while maintaining 99.5% of existing revenue and facilitating a revenue uplift of 35% per 1M requests.
