When is it worth using artificial intelligence in applications? And who has the right expertise for that? The use of machine learning and artificial intelligence has become common practice. Well-known examples are e-commerce and social media networks. But the technologies also help non-digital companies. Regina Kessler is founder of Genie Enterprises, our Startup of the Week. We talked to her about how they use AI and how they help other companies.
Hello Regina! Thanks for being here today! What is your mission on Genie Enterprise?
We digitize human cognition and perception by leveraging cutting edge research results to create practical, sustainable solutions.
This sounds very promising, but what does it mean in detail?
We develop our own products, solutions and support companies with consulting. So far we have developed two own products. The product WineGenie is a digital sommelier used in physical wine stores and online shops. It is currently in the pilot phase at several stores in the New York area as an installation and at a large online shop in Germany as a shop plug-in.
The CustomerServiceGenie solution contains modules that can be integrated into customer-specific applications. The modules map functionalities such as recognition of components/spare parts via smartphone cameras, predictive maintenance and determination of repair suggestions from manuals.
Common to all products and solutions is the solution-oriented use of machine learning methods, whereby concrete problems are always solved. In order to further develop our technological possibilities, we are active in research networks and are involved in several projects with universities and research institutes. We are currently researching the digitalisation of the human nose and the perception of smell.
These are very many different services that you offer. What is particularly interesting for your customers?
Since we develop products ourselves, the unique value is different for each product. With WineGenie, for example, we are promoting the digitalisation of wine consulting. This is done through a well-founded determination of personal preferences on the basis of a personality test. The customers will now find the suitable wine, that they searched for.
The special feature of CustomerServiceGenie is that it includes OCR algorithms for even the most difficult situations. In addition, our product carries out object recognition for very similar object classes from different angles.
Since you also develop your own products, your sources of income are diversified, aren’t they? Is each product based on a different model?
Yes, you could say that. We get our income from three different sources. We offer WineGenie through a subscription model. In addition, we have a certain percentage of our customers’ turnover. With CustomerServiceGenie, things work a little differently. There we sell licenses or customer-specific projects. We set the pricing for our consulting projects with regard to the time and effort involved.
Your target groups are also different?
Exactly. Depending on the product, our target group looks different. With WineGenie, we are mainly active in the USA and Europe. There, we address about thirty thousand wine merchants. With CustomerServiceGenie we also target the the American and European market. That means medium-sized companies or large enterprises with complex technical products. The customers who make use of our consulting services mainly come from Germany, but also from other European countries. These are also medium-sized and large companies.
Which products are already ready for the market? What are you planning this year?
The upcoming months are very exciting for us! WineGenie is about to enter the market. Currently, the pilot phase is still running to validate the use cases and the business model. We are also planning the possible spin-off, including a financing round to establish sales and further development. For CustomerServiceGenie, the first building blocks in research and development are in place. We expect a market-ready product by the end of 2020. We have built up a good customer base in the consulting business and will continue to expand it.
In addition, we will soon start the new research projects on “Digital Nose”, which we are very much looking forward to.
Regina, you have an exciting year ahead of you! Thank you very much for the thrilling interview. We wish you continued success.
If you want to learn more about Genie Enterprise, please visit their Innoloft profile to find out more about requests and products.