Gap Inc. (NYSE: GPS) has acquired the New York and Tel Aviv based start-up Context-Based 4 Casting Ltd. that uses AI and machine learning tools for retail operations and sales and seeks to improve the customer experience through predictive analytics and demand sensing.
“We believe artificial intelligence and machine learning will shape the future of our industry,” said Sally Gilligan, chief growth transformation officer, and head of the strategic growth office at Gap Inc. “Gap Inc. has experience working with CB4’s world-class data scientists, so we understand the impact and the wide applications their science can have across sales, inventory and consumer insights, as well as its potential to unlock value and enhance the customer experience.”
CB4 CEO Yoni Benshaul commented, “CB4’s AI helps lift sales and enhance customer experiences. As we join Gap Inc., I’m excited to see how our team can drive even broader and deeper impact at the company’s global scale.”