Rishabh Jain, CEO of Fermat, discusses how AI is revolutionizing commerce post-ATT. Topics include personalized ads, seamless consumer experiences, innovative customer engagement strategies, and leveraging AI for business acceleration and radical personalization.
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Quick takeaways
AI is revolutionizing e-commerce post-ATT era by enhancing consumer experiences and enabling personalized journeys.
Fermat is ushering businesses into the next-gen online retail era by leveraging AI for engagement and personalization.
Deep dives
Rishab's Entrepreneurial Journey with Fermat in Response to Apple's App Tracking Transparency Rules
Rishab Jain reflects on starting Fermat in 2021 amidst Apple's app tracking transparency rules, which revolutionized companies' marketing strategies. Coming from a background at Live Ramp, Jain identified the need to enhance consumer experiences in the post-ATT era. Fermat was conceptualized to provide tools for engaging consumer experiences in the evolving commerce landscape, with a focus on adapting to changing consumer internet interactions.
The Impact of Consumer Internet Changes and AI on E-commerce Landscape
Consumer internet changes like Apple's ATT rules and the rise of AI have significantly reshaped e-commerce dynamics. Rishab Jain highlights the unexpected high impact of ATT regulations on e-commerce businesses, leading to shifts in marketing, financial strategies, and operational models. Consumer engagement on the internet is evolving towards personalized, closed-loop experiences, requiring businesses to adapt to new ways of targeting and engaging customers.
The Fusion of AI and Generative AI in Transforming Commerce Journeys
The fusion of AI and generative AI technologies is revolutionizing commerce by enabling personalized and predictive consumer journeys. Jain discusses how leveraging both traditional AI and generative AI tools like Facebook's ad creative solutions can drive surprise, delight moments, and derive effective consumer experiences. Businesses are increasingly experimenting with AI-driven tools to enhance customer interactions, implying a shift towards a tailored, data-driven approach in commerce.
Fermat's Impressive Business Growth through AI-Driven Personalization
Fermat's success hinges on solving core customer problems through AI-driven personalization without overwhelming customers with technical details. The emphasis on delivering tailored consumer experiences has resulted in rapid business growth and adoption. Jain envisions a future where AI empowers even more personalized, hyper-targeted commerce interactions, driving increased business value and customer satisfaction.
App-tracking rules closed the door on user-tracking and targeted ads, but AI opened up new channels of engagement and personalization that previously weren’t possible. Commerce infrastructure company Fermat ushers businesses into this new era of online retail. CEO and co-founder Rishabh Jain talks with Greylock partner Saam Motamedi about the double impact of ATT and AI on commerce, and how Fermat is helping to build the next generation of online businesses. You can read the transcript of this interview here on greylock.com.