Many web extraction tools are limited in their ability to accurately and consistently identify and extract the core content of web pages
OpenDNA’s newly-developed IRIS web extraction tool overcomes these limitations, significantly enhancing the performance of OpenDNA’s Artificial Intelligence System (“AIS”)
Proprietary IRIS tool better understands and captures the key content of web pages, providing more accurate content profiling inputs for OpenDNA’s AI engine and in turn increasing the accuracy of psychographic profiles created for individual end-users
IRIS also opens up a range of broader commercial possibilities for deployment of the tool into third party systems
Leading artificial intelligence company OpenDNA Limited (ASX: OPN) (“OpenDNA” or the “Company”) today announces the launch of its newly-developed proprietary IRIS content extraction tool, which delivers greatly enhanced contextualisation data and enables more accurate profiling of online users.
Increasing the accuracy of content extraction
Existing web extraction tools are limited in their ability to accurately and consistently
identify and extract the core content of web pages, which can have implications, both for
accurately interpreting and profiling the interests of users having visited that page, as well
as for delivering the most relevant content to users.
IRIS addresses and solves these problems, enabling accurate content extraction to occur across any domain – including web applications that dynamically load and move content around the browser window, which often pose difficulties for web extraction tools. When used in conjunction with OpenDNA’s existing AIS, IRIS allows more accurate and reliable extraction of core content from the 250,000+ online sources to which OpenDNA has access. The result is higher content relevancy and more detailed psychographic profiling of individual end-users.
Potential revenue-generation benefits
IRIS creates the potential for near-term revenue growth for OpenDNA, through the provision to customers of an inventory of highly relevant, personalised content that can be used to increase user engagement levels, deliver greater product sales, and improve user retention rates. In turn, these benefits are expected to drive increases in the licensing and usage fees received by OpenDNA from those customer arrangements.
In addition, as explained below, opportunities may exist in future for OpenDNA to generate a separate revenue stream from the provision of IRIS to third parties for use in their own systems.
How does IRIS work?
Delivering highly relevant content to a web or mobile user requires effective content analysis to truly understand the content and its context.
Many third party content analysis systems are hindered by their inability to systematically
filter out peripheral content such as banners, captions, ads and links to other articles. This
in turn can lower the overall effectiveness of the system’s ability to identify and
contextualise the ‘true’ content of the page in question. In order to enhance its ability to
provide optimised and highly relevant experiences and content. OpenDNA has
addressed this shortcoming by developing its own in-house extraction tool to solve these
IRIS enables the automated extraction of the relevant page content, using advanced visual
recognition fuzzy-logic and proprietary Optical Character Recognition (“OCR”)
technology. By approaching online content from a human perspective, IRIS can recognise
the key elements of each page, consciously ignoring the parts which only confuse or
dilute the page’s meaning and content flow (such as advertisements, sidebars, call-outs,
image captions and other functional elements).
OpenDNA has initially introduced IRIS as part of its own technology suite, to augment the capabilities and effectiveness of its already-leading AI and machine learning personaliation system. However, the IRIS tool also has the potential to be integrated with and used by third party systems to better contextualise their own data and in turn drive a new revenue stream for OpenDNA. Because IRIS is an AI-based content examiner, that learns like a human does, its potential use applications can be expanded to include any digital content stream.
OpenDNA’s Chief Executive Officer and MD, Jay Shah, commented:
“OpenDNA continues to invest in its technology platform to ensure we remain at the cutting edge of AI development and continue to lead the way in bringing to the market the very best AI tools. The development of IRIS is one such example of this and evidences the creative thinking and technical capabilities of our in-house team.
IRIS is a significant breakthrough as it further increases OpenDNA’s capacity to contextualise content and deliver it in a way that enables our customers to seamlessly create a more personalised online experience for their end-users. We are excited both about the short-term revenue generation and longer-term, broader commercial possibilities which this innovative tool creates for the Company”.