https://techcrunch.com/2018/01/25/sothebys-acquires-thread-genius-to-build-its-image-recognition-and-recommendation-tech/
Sotheby’s has acquired Thread Genius, which has a set of algorithms that can instantly identify objects and then recommend images of similar objects to the viewer. Thread Genius will become part of a new unit at Sotheby’s building out AI based recommendations engines.
The art world has a challenge in getting a new generation of would-be buyers interested in buying art at a time when their disposable income probably doesn’t allow for it. One way to appeal to this group is through the use of technology to expand the pool of potential buyers and use algorithms to show buyers who don't know much about art, styles that are similar to things that they like. Traditionally auction houses have relied heavily on art connoisseurs to identify artists, value art work, and to source objects and match them to potential buyers. By looking at the browsing habits of users online paired with demographic data, Sotheby’s can predict with much greater accuracy what buyers are looking for and what pieces in their inventory would pique a buyer’s interest.
I don’t think this means an end to the human intervention in the art world, as humans can pick up the subtle details that an algorithm cannot detect and have built up networks and long-term relationships with buyers that no computer can replace but it does showcase an interesting trend for companies whose core competency is not technology, using tech to replicate some of the expertise they have.
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