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AI-powered relevance platform Coveo today announced that it acquired Qubit, a leader in AI-powered personalization technology for merchandising teams. The acquisition expands Coveo’s ability to use AI to power engaging experiences across commerce, service, support, and digital workplace solutions, and also bolsters the company’s geographic expansion into the U.K. and European markets.
“Qubit’s IP and expertise comes at a perfect time as enterprises turn to AI-driven solutions to provide highly relevant responses, offers, and recommendations to their customers at scale,” said Louis Têtu, CEO and chairperson of Coveo. “Adding Qubit’s capabilities to the Coveo Relevance Cloud platform helps us accelerate the delivery of new incremental innovations to further personalize digital commerce experiences.”
New options for AI-powered retail solutions
The acquisition enables Coveo to provide retailers with innovative, AI-powered ecommerce solutions, allowing them to keep pace with the accelerated digital shift and meet consumer expectations around relevance. Merchandisers will have more tools at their disposal to deploy promotions, test different strategies, and iterate more quickly, thereby driving customer lifetime value from acquisition through to retention.
“Our two businesses complement each other perfectly across both technology and expertise and are aligned to deliver a total solution for the benefit of our customers’ success,” said Graham Cooke, Qubit CEO. “We look forward to delivering more business value to our collective customers as we roll out our integrated offering that drives forward the next level of personalization.”
The enhanced Coveo Relevance Cloud enables retailers to make use of AI-powered commerce search, which detects shopper intent and determines individual context. The relevance platform supports personalized search, product and content recommendations, guided browsing, and product listing pages, as well as optimization through A/B and multivariate testing and analytics. Retailers will be able to engage their customers across multiple digital touchpoints (e.g., chatbots, mobile applications, digital marketplaces) through plug-in UI components, headless API, and open commerce support.
AI-powered relevance across industries
The AI-powered relevance platform has applications across different industries, including beauty and cosmetics, fashion, luxury, home and garden, grocery, travel and tourism, direct-to-consumer, business-to-business, media, and financial services. It supports shared personalization across customer self-service, assisted support, and customer communities throughout the customer lifecycle.
Coveo’s SaaS-native, multi-tenant platform provides search, recommendations, and personalization solutions to create digital experiences for ecommerce, service, website, and workplace applications. The company says its solutions drive revenue growth, reduce customer support costs, increase customer satisfaction and digital engagement, and improve employee proficiency and satisfaction.
Coveo says its AI powers relevant interactions for hundreds of global brands and is supported by a large network of global system integrators and implementation partners, including Salesforce, ServiceNow, and Zendesk. The company has been named a leader in the Gartner Magic Quadrant for Insight Engines and a leader in The Forrester Wave: Cognitive Search.
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