Bridgeline Announces Zeus Launch with Concept and Image Search
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The introduction of HawkSearch's new Smart Search technology, featuring AI-powered Concept and Visual Search, is poised to have a significant impact on the eCommerce sector. These advancements are expected to enhance the customer experience by streamlining the search process. Visual Search, for example, could drastically reduce the time customers spend finding products, as it allows for image uploads to find similar items, thereby potentially increasing conversion rates and average order values.
From a market perspective, Bridgeline Digital's innovation could set a new standard for search technology within eCommerce platforms, creating competitive pressure for other industry players to upgrade their search capabilities. This could lead to increased market share and revenue for Bridgeline Digital if the technology is adopted widely. However, the costs associated with developing and implementing such advanced AI technologies could impact the company's short-term financials, with the expectation of long-term gains.
The Zeus update for HawkSearch represents a strategic investment in product development for Bridgeline Digital. The adoption of the technology by notable customers such as Max Warehouse and Nail Gun Depot indicates initial market validation, which could be a positive signal for investors. The general availability of this technology to the entire HawkSearch customer base may lead to increased customer retention and upselling opportunities.
Investors should monitor the uptake of the Smart Search technology post-release, as widespread adoption could lead to an increase in Bridgeline Digital's recurring revenue streams. Moreover, the ability of Smart Search to potentially boost clients' revenue could serve as a strong selling point, attracting new customers. However, it is crucial to assess the actual impact on Bridgeline Digital's financial performance in subsequent quarters, as R&D expenses and customer acquisition costs could offset initial revenue gains.
The integration of AI models, vector databases and large language models into HawkSearch's Smart Search technology is a testament to the rapid advancements in AI and its applications in improving search functionality. Bridgeline Digital's approach, particularly the use of Concept Search that processes natural language queries, reflects the growing trend of incorporating natural language processing (NLP) to enhance user interactions with technology.
While the technical specifics of Bridgeline Digital's AI implementation are not disclosed, the effectiveness of these AI models in delivering accurate search results will be crucial for customer satisfaction and technology adoption. As AI technology continues to evolve, Bridgeline Digital will need to ensure continuous updates and improvements to maintain a competitive edge in a market where technological obsolescence can occur rapidly.
WOBURN, Mass., March 07, 2024 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a provider of marketing software, announced the release date of its HawkSearch "Smart Search" technology, set for March 15, 2024. Smart Search introduces two new ways to search, Concept and Visual Search, changing how customers interact with search and leading to increased engagement and revenue for businesses.
HawkSearch will introduce its “Zeus” update for Smart Search and GenAI capabilities on March 15, 2024. This update introduces AI-powered Concept and Visual Search to help HawkSearch customers generate more revenue. Smart Search uses AI models, vector databases, and large language models to process customer queries, whether typed or through images. For instance, Visual Search allows a customer to upload an image of a product, and HawkSearch will show similar items for purchase. Concept Search lets users describe their needs in natural language, and the system finds relevant products or information.
John Murcott, EVP of Product & Strategy, stated, “Integrating our features into existing interfaces ensures a smooth transition for users, maintaining our commitment to providing accessible solutions for eCommerce site users to find and purchase what they need.”
Ari Kahn, CEO, said, “Smart Search's introduction has shown its value, with customers like Max Warehouse, Nail Gun Depot, and Rainbow Resource Center adopting the technology. The Zeus release makes this technology generally available (GA), including the entire HawkSearch customer base, providing AI capabilities to help customers grow revenue on their sites."
About Bridgeline Digital
Bridgeline helps companies grow online revenue by increasing traffic, conversion rates, and average order value. To learn more, please visit www.bridgeline.com.
Contact:
Danielle Colvin
SVP of Marketing
Bridgeline Digital
press@bridgeline.com
