Spintop Ventures’ portfolio company and the AI platform Infobaleen changes its name to Sift Lab, in their journey to become a leader in the Nordics and Europe. Sift Lab’s AI platform helps customers both track and act on the right KPIs in real time.
This happens by taking in large amounts of customer data in a unique way that is visualized in predictive dashboards that are acted upon through segmentations and personal recommendations to customers in all channels. To achieve the same results, a number of different solutions in data storage and analysis as well as a larger data science team have been needed so far.
– We are the world’s simplest platform for AI-generated insights, we want to reflect that with a simple name. As the large masses open their eyes to how transformative AI is in our way of working through ChatGPT, we are giving our platform a facelift, clearer packaging and a new identity. Because AI analysis and actions have so many possibilities and should therefore be easily accessible and fun to use for everyone. We have structured all smart areas of use in a library for retailers, where you can directly pick the most profitable AI cases, for example to personalize mail, web and advertisements, and to AI-segment your customer base so that you can, for example, bid on products on future order value on Google shopping, says CEO Linda Hellström.
The result is increased profit in the order of 3-6% and reduced advertising costs by up to 30%, but the most important thing is that you can redirect and work customer-data-driven as a retailer or e-commerce company.
– AI is really needed for customers to find the right way in the jungle of products and services. There is a big mismatch today where we spend a lot of time scrolling and searching at the same time as companies expand their ranges, and spend a lot of resources on returns because you don’t have the right tools to understand what customers want and highlight the right product in the right size for the right customer. The old systems for personalization are quickly becoming obsolete – today it is not a 6 month IT project to bring in a new platform, but rather 6 days at 1/6 the price, but with many more uses because AI allows can use more data, more efficiently,” says Linda Hellström.
Siftlab, previously Infobaleen, was founded in 2015 by, among others, Jakob Sjölander, Christian Persson and Martin Rosvall, professor of computational physics at Umeå University, and today has 40+ customers. The company has a close collaboration with Umeå University, where a research team continuously ensures that the platform benefits from the latest in machine learning.