Artificial intelligence company LogoGrab has unveiled a new ad-detection feature that can provide businesses with insights on what their competitors are doing – and spending – online.
The near real-time intelligence can be used by media monitoring companies to help clients quickly adapt their advertising strategies, based on rivals’ activity.
The technology can detect the format and dimensions of online ads, such as whether they are banner ads or another format; categorise the content of the ads and assign them labels from the 11,000 on its system, providing details on what is visible in the ads, such as gender, age, animals and objects; and detect visible logos, or lack thereof, identifying brands within the ads.
The company’s adaptive learning engine is capable of scanning millions of images and videos, identifying what brands are being used and feeding that data back to companies.
Recent research quoted by the company found 40 per cent of brands are looking to invest more in their competitive intelligence budget in a bid to gain an edge over competition. Among the brand and advertising monitoring companies that have teamed up with LogoGrab are Brandwatch, Veritone, Synthesio and RCS Media Monitors.
"With this innovation it is possible to achieve a higher level of accuracy and analysis on all forms and formats of ads than ever before," chief executive Luca Boschin said. "Our Visual-AI allows all of the data to be analysed and categorised, providing ad monitoring customers with an accurate and thorough overview of competitor advertising activity."
There is another element to the business too, in brand protection, authentication and monitoring. the same technology can be used to detect counterfeit goods being sold online, and in real life through the recognition of holograms that are used to identify authentic goods.
New York-based LogoGrab has an office in Ireland and currently employs about 12 people in Dublin. It is planning to add more staff here, although Mr Boschin said the company would remain lean.
To date, the company has raised €2.3 million in funding, and is currently growing from its own revenue.
