Artificial intelligence 'Albert' to tackle marketing challenges down under

Albert Technologies has entered a strategic partnership with an unnamed “leading business services group”, it announced on Thursday, in a bid to make its artificial intelligence-based marketing platform ‘Albert’ available in the Australia and New Zealand markets.

The AIM-traded company said the agreement would give the business services group the rights in both countries to distribute Albert to brands - both direct, and via agencies.

It came with a guaranteed minimum value of $0.8m in software-as-a-service fees in the first full year of activity, beginning with immediate effect and gradually increasing over the next 12 months.

Albert Tech said the agreement carried the potential to become a “significant” revenue opportunity in the second and third year.

“This partnership extends our ability to satisfy industry demand for a simple, efficient way to improve campaigns and accelerates our revenue growth through partnerships,” said Albert’s founder and CEO Or Shani.

“We are delighted to have found a partner with the right network and credentials to take Albert to Australia and New Zealand on our behalf and will seek to make similar agreements for other territories in future as they allow us to grow while maintaining good cost control.”

Agreement by both parties was reportedly reached after a trial period, during which Albert apparently demonstrated “significant ability” to transform marketing outcomes.

Within 24 hours of deployment, Albert identified and executed “thousands” of marketing actions, which could have taken a human marketing expert up to a year.

Furthermore, the partner's customer acquisition costs were reduced by more than a quarter within 30 days, Albert Tech’s board said.