AI Index / Etsy, Inc.
Etsy, Inc. (ETSY)
Etsy's popular global online marketplace for handmade and homespun goods has a re-architected search algorithm that uses advanced machine learning techniques, incorporating seller quality metrics to match buyers with items they are likely to appreciate. This approach aims to enhance the shopping experience by providing more relevant search results.
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We believe these efforts are beginning to fuel a stronger customer relationship flywheel, powered by new experiences that capture more and better data, which feeds advanced artificial intelligence and machine learning to deliver deeper personalization to drive buyer engagement and frequency over time.
- Josh Silverman
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Quotes from etsy Executives About Artificial Intelligence and Generative AI
This experience leverages what we call algatorial curation, a powerful blend of AI driven scalability and the know how of our world class merchandising team.
- Josh Silverman
Recent AI advances enabled us to build an experience where the trends a shopper sees and the items that appear highest for them within each curated collection are based upon their individual activity, including purchased and viewed items.
- Josh Silverman
In fact, the app's more browsable design means we're collecting more and better insights into customers' interests, inclinations, tastes and habits, all of which can be fed into smarter, more powerful LLMs to generate even more engaging and personalized experiences over time.
- Josh Silverman
We're also improving our ability to recognize individual shoppers even if they haven't signed in. We're better connecting the dots between first and third party data to more accurately predict buyer LTV and tailor engagement and retention strategies for different segments.
- Josh Silverman
...with the help of machine learning during the first quarter we increased the share of personalized email and push notifications by over 10 percentage points with AB tests confirming a clear lift in engagement compared to prior more generic content.
- Josh Silverman
...we enabled Etsy experiences within third party AI based shopping platforms, including participating in the research preview of OpenAI's operator...
- Josh Silverman