Electric Guitar PLC (AIM:ELEG) is teaming up with Exelia Technologies to launch Marcomms.ai, a joint venture focused on AI-driven marketing products.
The collaboration brings together Electric Guitar's expertise in digital marketing and Exelia's prowess in AI and data processing.
Marcomms.ai will leverage Electric Guitar's extensive global dataset and Exelia's advanced AI technology to develop innovative solutions for the marketing and advertising sectors.
The first product, already in development, aims to boost consumer engagement and provide deeper audience insights using sophisticated machine learning algorithms. Testing with key clients is set to begin this autumn.
Exelia will handle initial data engineering and analysis costs, while Electric Guitar will cover incorporation and product launch expenses.
The $800 billion digital marketing industry, currently undergoing a tech-driven transformation, offers a ripe opportunity for this venture to make a significant impact.
"AI is already causing significant disruption in the advertising industry, but marketers are learning that you need the right data for AI to work," said Electric Guitar CEO, John Regan.
"3radicals' Global Data Store contains over 1 billion data points which describe how consumers interact with 3radical's engagement tools. Being able to use this data to power our AI tools gives us a significant advantage."