Powered by artificial intelligence and machine
learning technology, the Fetch BrandChoice Tech allows brands to
deploy dynamic, efficient and effective advertising
MADISON,
Wis., April 24, 2024 /PRNewswire/ -- Fetch,
America's Rewards App, today announced that the company has secured
a patent for its BrandChoice Tech, its digital advertising
technology that uses artificial intelligence and machine learning
to automate campaign testing and optimization. Drawing on Fetch's
unparalleled, real-time view of consumer purchase history, this
now-patented technology accelerates and expands the platform's
advertising personalization, recommendation and campaign
optimization capabilities.
Fetch has secured a patent for its
BrandChoice Tech – its AI and ML technology that optimizes
advertising campaigns.
"For brand marketers, forging strong consumer relationships has
always been the goal. And right now, it's harder than ever to make
these connections," said Wes
Schroll, CEO and Founder of Fetch. "This formal recognition
reinforces what we already knew, which is that we're building a
platform like none other - a universal rewards app that acts as a
full-funnel adtech solution to help brands create lifelong
customers."
Fetch's BrandChoice Tech improves the performance of advertising
campaigns by matching the right ads with the right audiences at the
right time, ensuring marketing dollars are spent wisely. Utilizing
a multi-armed bandit (MAB) solution – a fundamental ML framework –
the BrandChoice Tech uses purchase data and predictive models to
automatically adjust traffic toward the best-performing ad
variants. This eliminates the need for static segments and provides
the highest level of efficiency and effectiveness. This approach
improves upon standard A/B testing – a legacy approach that applies
learnings from current tests to future campaign iterations more
slowly.
With this technology, advertisers can also evaluate several
different aspects of an ad including point values, spending
requirements, creative assets, and other purchase criteria. In
turn, users also benefit from the highest degree of personalization
and ad relevance.
The newly patented technology builds on momentum from Fetch's
launch of its proprietary receipt-reading technology last spring,
and reflects the company's heavy investment in AI and ML
innovation. The receipt processing technology serves as the
foundation for the BrandChoice Tech, reliably scanning and matching
SKU-level purchase data from 80 million receipts per week.
Collectively, these features allow Fetch to accurately identify
items purchased, analyze shopper patterns and preferences, curate
hyper relevant ads and adjust those ads in real time to maximize
their impact – all at scale to Fetch's 11 million weekly active
users.
"There's enormous potential for applications of AI and ML in the
advertising technology industry," said Wade
Bruce, Chief Technology Officer at Fetch. "Fetch is leading
the charge, with solutions that transform how brands connect with
their audiences and unleash new levels of efficiency in
advertising."
Those seeking further information can reference US Pat. No.
11,941,655.
About Fetch
Fetch, America's Rewards App, empowers consumers to Live
Rewarded and helps brands create lifelong customers through the
power of Fetch Points. Fetch has sweeping visibility into what
consumers buy, capturing more than $152
billion worth of transactions annually using cutting-edge
artificial intelligence and machine learning technologies. To date,
Fetch users have submitted more than 5 billion receipts and earned
nearly $910 million in rewards. The
app is available to download on the App Store and Google Play Store and has
more than 5 million five-star reviews from happy Fetchers.
CONTACT: Karlie Fitzgerald,
k.fitzgerald@fetch.com
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SOURCE Fetch