Can AI help us create better subject lines?
Greetings, Pulse Subscribers!
This week, we’re really feeling our age. But as they say, “With age comes wisdom.” So let’s check out what’s got us feeling old this week:
Oh boy, these bots can write - and make art.
Grab-and-go will make you feel like a thief - until you check your credit statement.
“Intelligent digital twin?” Could be awesome; could be diabolical. Find out below.
The holiday shopping spirit might be harder to find this year.
Gen Z is all grown up? Already?!
Let’s go!
Startup Deals
AI Content Platform | Call us old-fashioned, but we still write Forge Pulse one human-typed keystroke at a time. But maybe there’s a better way? Jasper offers an artificial intelligence (AI) content platform that allows companies to automate copywriting, scale operations, and streamline workflows to improve content and boost productivity. Simply type “a promotional post about air fryers in a friendly tone,” for example, and Jasper can create blog articles, social media posts, website copy, and more. It’s worth noting that Jasper doesn’t push its platform as a replacement for human writers (whew!) but rather as a tool to unlock creative potential and increase content output. In addition, Jasper has recently debuted Jasper Art, which uses AI to turn text prompts into images. Already valued at $1.5 billion, Jasper recently raised $125 million in a financing round led by Insight Partners, which was joined by Coatue and Bessemer Venture Partners.
Grab-and-Go Shopping | Speaking of old-fashioned, who wants to wait for a cashier to ring you up when you could just walk out? Trigo, an Israel-based startup, builds technology that allows stores to offer cashier-free, “grab-and-go” experiences similar to those in Amazon Go stores. Currently focused on the grocery industry, Trigo’s clients include Tesco in the UK, Germany’s REWE, ALDI Nord in the Netherlands, and the Wakefern cooperative in the US. With Trigo’s AI-powered cameras and sensors, there’s no need for specialized carts or scanners: shoppers simply log into the app before they enter, grab what they need, and leave the store. By eliminating the need for cashiers and streamlining the shopping experience, Trigo claims that the average supermarket will get a return on its investment in 18 months. Looking to expand its reach into other sectors outside grocery, Trigo recently raised $100 million in a new financing round led by Singapore investment firm Temasek.
Augmenting Retail | With augmented reality (AR), retailers can transform their physical stores into digital environments for easy management and immersive shopping experiences. At least, that’s Resonai’s pitch. With a computer vision enterprise platform called Vera, Resonai integrates computer vision with highly accurate indoor mapping and location tracking services to create an “intelligent digital twin” of any commercial building. This digital twin then serves as an operating system for all the integrated systems within that building, meaning it can more efficiently control devices and leverage integrated data to manage energy usage, occupancy, HVAC, and more across portfolios. In addition, retailers can use Vera to offer AR experiences within their physical store, such as digital concierge services with indoor navigation or personalized, immersive journeys tied to loyalty programs that can be accessed through visitors’ mobile devices. Resonai recently closed a $20 million Series A extension funding round with additional investment from Blue Square Israel, the second-largest retail chain in Israel, bringing its total amount raised in the Series A to $30 million.
Essential Industry Reads
It seems that customers might not be feeling the holiday spirit this year, and retailers aren’t sure how to manage that. In this great double-shot of short reads from Forerunner Ventures, we get a look at the bright side of both dilemmas. The first piece dives into why customers aren’t embracing the holiday shopping season like they used to, and why that’s not necessarily a bad thing for retailers. The second explores how businesses can use discounts to drive sales and acquire customers. It also offers a few best practices that can be put into use this season and beyond.
Read about the not-so-bad lack of holiday spirit this year here.
Read about how to effectively use discounts here.
We’re right back where we started: feeling old. Did you know that senior members of Gen Z are 25?! That’s right – they’ve finished college and have already established a line of credit. What else are they up to? This extensive read from Retail Dive takes a holistic snapshot of where Gen Z is now, exploring everything from their relationship with credit cards and the metaverse to gender-neutral clothing and how grocers present themselves online, giving an illuminating look at what’s coming next for retailers everywhere.
Read about what makes Gen Z tick here
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See you in two weeks!