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May 4, 2023 Tech Explained

Computer Vision: How Pinterest Boosted Ad Revenue by 50%

Summary

  • Pinterest expanded its visual search technology to ads in 2017, which enabled highly relevant ad placements through image recognition technology.
  • Pinterest’s ad revenue grew 67% YoY in 2016 and increased by 50% with visual search in 2017.
  • Pinterest’s visual search technology, including its Lens visual search tool, has been growing rapidly, with 600 million visual searches completed each month in 2018.
  • Their “Complete the Look” feature uses computer vision to suggest complementary products to users, leading to a 50% increase in ad revenue in 2021.

What is Computer Vision?

Computer vision is a technology that enables machines to interpret and understand visual data from the world around them.

It involves the use of algorithms and deep learning models to analyze images and videos, recognize patterns, and extract meaningful information.

Computer vision has a wide range of applications, from self-driving cars to medical imaging, and is becoming increasingly important in the field of artificial intelligence.

How is Pinterest using computer vision and visual search technology?

Pinterest has been investing heavily in computer vision and visual search technology to improve the user experience and increase revenue.

In 2017, they expanded their visual search technology to ads, which enabled highly relevant ad placements through image recognition technology.

One of Pinterest’s most successful features is its “Complete the Look” tool, which uses computer vision to suggest complementary products to users, leading to a 50% increase in ad revenue in 2021.

For example, if a user is looking at a photo of a living room, the “Complete the Look” feature can suggest complementary products like throw pillows or rugs. This not only improves the user experience but also encourages users to purchase more items.

Other Applications of Computer Vision

Computer vision has a wide range of applications in various industries.

In healthcare, it is used for medical imaging and diagnosis, while in manufacturing, it is used for quality control and defect detection.

In the automotive industry, it is used for self-driving cars and driver assistance systems, and in retail, it is used for inventory management and theft prevention.

Benefits of Visual Search

Visual search can provide more relevant and actionable information than a simple text search and can effectively be more valuable to advertisers.

While text search requires the consumer to know what they are looking for, visual search allows them to discover new products and ideas based on images they find appealing.

This makes visual search a powerful tool for e-commerce and advertising, as it can help drive sales and engagement.

Conclusion

Computer vision and visual search technology can be incredibly useful for founders looking to improve user experience and increase revenue.

By implementing these cutting-edge tools, companies like Pinterest have seen significant success, and there’s no reason why your company can’t do the same.

With the increasing importance of artificial intelligence in various industries, it’s worth exploring how computer vision and visual search can benefit your business.

Benji
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