Technology Winter 2018

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NEW YORK - Sotheby’s recently announced its advancements in data capabilities and strategy, including the acquisition of startup company, “Thread Genius.”
“Thread Genius” was founded by Andrew Shum and Ahmad Qamar in 2015, specializing in providing e-commerce businesses with artificial intelligence that understands taste based on visual recognition. The acquisition of the company is a continuation of Sotheby’s focus on data and technology to drive innovation and improve both internal processes and client service and experience. Transactions would come together by matching an object with an individual’s preference at a certain price point, and Sotheby’s retains data in these three areas. By uniting all data-related activities under one umbrella, the auction house hopes to accelerate innovation and provide benefits to both their internal team and clients.
The acquisition of “Thread Genius” builds on Sotheby’s 2016 acquisition of the Mei Moses Art Indices – now known as Sotheby’s Mei Moses – a database of nearly 50,000 repeat auction sales in eight collecting categories. Andrew and Ahmad, together with Richard Vibert, a data scientist recently appointed Head of Data & Analytics Strategy, will report to Jennifer Deason, Executive Vice President, Head of Strategy & Corporate Development for Sotheby’s.
http://www.blouinartinfo.com/news/story/2817034/sothebys-acquires-artificial-intelligence-company-thread?utm_source=Blouin+Artinfo+Newsletters&utm_campaign=7faf7b3c54-Big+Clicks+02.04.2018&utm_medium=email&utm_term=0_df23dbd3c6-7faf7b3c54-83005727