New Belfast software firm a major boon to profitability
A Belfast tech firm which built the technology helping massive online retailers such as Chain Reaction do business has developed new artificial intelligence software.
The IRP Commerce platform - which has seen more than more than £1bn in sales pass through its systems - has now created DeepAgent.
It's software which analyses data in order to learn the actions that lead to more sales and profitability.
It works on behalf of the online business to predict and guide the moves the company needs to make, in order to grow its sales.
IRP Commerce founder Daniel Loughlin said: "Finding a practical use for artificial intelligence in business can be a challenge.
"Our approach directly links artificial intelligence to increased online revenues. The e-commerce industry is deeply complex and inefficient, and this can change with the development of DeepAgent technology.
"DeepAgent gives companies a huge advantage over their competition and informs the actions to grow and take market share."
Dr Norman Apsley, chief executive of the Northern Ireland Science Park, where IRP is based, said: "I am delighted to welcome advances such as this coming out of the park and look forward to seeing how this technology will evolve in the future.
"I am sure that it will not only help grow IRP itself but that it will help many other companies improve their long term viability in this age of internet sales.
"I understand the DeepAgent engine can be used effectively to provide valuable information for online businesses that can utilise sales and profitability."
By suggesting decisions and changes to traffic channels, DeepAgent's predictions have already seen significant results and increased year-on-year sales for some businesses.