How One Tech Startup is Using AI to Conquer Challenges Faced by Media Giants
California based WowYow graduates Silicon Valley AI Accelerator program
NEW YORK, December 21, 2018 (Newswire.com) - Visual artificial intelligence (AI) company WowYow is excited to announce its successful graduation from a Silicon Valley AI accelerator program led by Nex Cubed, an investment company which chooses tech startup companies to incubate and helps to fund their ideas.
WowYow enjoyed working closely with the Nex Cubed team of advisors during their four months of work preparing for their showcase. They were able to take advantage of Nex Cubed’s many services including organizational structure, strategic staffing, marketing, branding, and fundraising. These helped WowYow to hit key milestones needed to reach the next level in innovation, value, and growth.
"The future of Internet traffic is video,” agrees Nex Cubed CEO Marlon Evans. “WowYow's Visual AI provides advertisers and publishers with the ideal solution to take advantage of this trend. We've really enjoyed working with the WowYow team and look forward to continuing our support as they scale their platform.”
WowYow and the other graduates were able to present and network with investors, advisors, and other supporters of the field at the showcase. You can watch the WowYow presentation here.
Video consumption and digital advertising are only expected to grow in the coming years. As of 2017, advertising and search revenue in the U.S. totaled over $80 billion. By 2020, it’s predicted that $335 billion will be spent on digital advertising alone.
WowYow is aiming to help advertisers and publishers capitalize on this upward trend by applying their AI to identify, index, search and monetize everything that is seen within a video.
In 2017, across its network of publishers and advertisers, WowYow’s AI & Visual Search performed 500x better than the industry average, with a 6.7% click-through rate. This year, WowYow is on pace to beat their previous record, as they track at an 8.3% rate.
“The applications for AI in digital media are endless,” says Jarett Boskovich, Co-founder and CMO of WowYow. “Our partners are already applying WowYow’s AI to increase video meta-data, drive audience development, connect content to commerce, and address major issues around brand safety. We’re looking toward 2019 with excitement as we bring our AI to major worldwide media brands. 2019 is definitely shaping up to be a big year for WowYow.”
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Source: WowYow Inc