Thread Genius is fundamentally a visual search engine that relies on convolutional neural networks [4] to analyze patterns, shapes, colors, strokes that can be trained on specific purposes: even if it started with clothes recognition for the fashion industry, its deep learning capabilities were soon translated to paintings. A subsidiary of S&C client Sotheby's acquired 100 percent of the outstanding shares of common stock of Thread Genius, a New York-based technology start-up with a focus on artificial intelligence (including machine learning algorithms). Installation. Thread Genius (acq. While I don’t think that Sotheby’s is going to quickly give up on its human specialists, what it will mean is that the auction house now will be able to replicate some aspects of their work to help expand on to digital platforms, and to touch more potential buyers and others as a result. Thread Genius is fundamentally a visual search engine that relies on convolutional neural networks [4] to analyze patterns, shapes, colors, strokes that can be trained on specific purposes: even if it started with clothes recognition for the fashion industry, its deep learning capabilities were soon translated to … Prior to founding Thread Genius in 2015, the engineers behind it helped Spotify develop its song-matching technology. They have a … Thread Genius was a relatively young company, founded in 2015 and making a debut last year as part of TechStars New York’s Winter 2017 cohort. But one area that has remained relatively untouched by tech is the art evaluation aspect of the business. 2018 was a great year for our company. Acquiring Organization: Sotheby’s Sotheby’s conducts auctions and private sales of fine art, antiques and decorative art, jewelry, and collectibles. sothebys. by Sotheby's) hasn't added any jobs yet Get notified when Thread Genius (acq. Thread Genius was a relatively young company, founded in 2015 and making a debut last year as part of TechStars New York’s Winter 2017 cohort.Co-founders Andrew Shum and Ahmad Qamar, who were also Thread Genius’s only two employees, were both engineering alums from Spotify. As a result of our entire team’s efforts and the continued trust placed in Sotheby’s by our clients, we fulfilled our objective to substantially improve upon last year’s good results, and we achieved a second straight year of 20%+ after-tax returns on equity 1, a significant improvement from the average of just over 15% between 2014 and 2016. jan 25 (reuters) - sotheby’s: * sotheby’s - acquisition of thread genius, a startup specializing in taste-based image recognition and recommendation technologies They are joining the auction house along with Richard Vibert, another data scientist it has hired. Thread Genius was a relatively young company, founded in 2015 and making a debut last year as part of TechStars New York’s Winter 2017 cohort. The acquisition price of the Mei Moses indices, Orion Analytical, and Viyet were all undisclosed, while Thread Genius’s cost was low enough to be considered “non-material” to Sotheby’s. Contribute to sothebys/thread-genius-swift development by creating an account on GitHub. “By using advanced technology, we can deliver better insights and match those three elements faster, providing our staff with better tools, our clients with a better experience, and our consignors with even better results. Sotheby's x Thread Genius focuses on Marketplaces, E-Commerce Platforms, Auctions, Art, and Logistics. Thread Genius, based in New York, was founded in 2015 by engineers Andrew Shum and Ahmad Qamar. Thread Genius. The three will become part of a new unit that will be building a new AI-based recommendation engine for the company, working in part with IP Sotheby’s owns called the Mei Moses Art Indices, an art database of 50,000 images that it acquired in 2016. Sotheby's Disappoints With Larger Losses, Plunging Revenue Earnings Stock markets Culture, Art, Books. While I don’t think that Sotheby’s is going to quickly give up on its human specialists, what it will mean is that the auction house now will be able to replicate some aspects of their work to help expand on to digital platforms, and to touch more potential buyers and others as a result. Sotheby’s has bought Thread Genius, which has built a set of algorithms that can both instantly identify objects and then recommend images of similar objects to the viewer. The fact that the Thread Genius team will be building an AI-based recommendation platform touches on an interesting trend in the non-tech world: companies whose core competency is not technology are increasingly looking to tech to replicate some of the expertise that they have in house to expand what they can do. Sotheby's (/ ˈ s ʌ ð ə b i z /) is a British-founded American multinational corporation headquartered in New York City.One of the world's largest brokers of fine and decorative art, jewelry, real estate, and collectibles, Sotheby's operation is divided into three segments: auction, finance, and dealer.The company's services range from corporate art services to private sales. Jun 5, 2018 - Sotheby’s acquired startup Thread Genius, whose machine learning tech can discern clients’ artistic and style leanings–and suggest customized purchases. The amount of … Sotheby’s (NYSE: BID) acquired Thread Genius, an Artificial Intelligence company specializing in image recognition & recommendation technologies. The two founders of Thread Genius entered into employment arrangements with Sotheby's in connection with the transaction and will assist Sotheby's development of innovative data products and services. On January 25, 2018, Sotheby’s (the "Registrant") issued a press release announcing that it has enhanced its data capabilities, including through the acquisition of Thread Genius. Sotheby's Home (www.sothebyshome.com) is an online marketplace for luxury pre-owned furniture and accessories.We make it easy for high-end furniture owners to profit from a move or redecoration by providing them with a simple way to sell their furniture. 1744. Robinhood is going to let you buy and sell crypto soon, CNN shuts down Casey Neistat's Beme and Sotheby's acquires Thread Genius. L'engouement des développeurs pour les t-shirts geeks ou technophiles est bien connu. They’ll join Sotheby’s this week. “The acquisition of Thread Genius and the addition of Richard, Ahmad and Andrew to the Sotheby’s team advance a number of initiatives related to the strategic capture and use of data to improve internal processes and provide a wider range of services to clients,” said Jennifer Deason, Sotheby’s Head of Strategy & Corporate Development, in a statement. As part of the deal, Thread Genius' Thread Genius is a small technology group within Sotheby's focused on making art buying and selling more accessible via automation, data transparency, and artificial intelligence. (This is, apparently, also the case at Amnesty International, which is currently trying to build an AI-based system to help monitor activities around the world, essentially putting in place AI systems to do the work of an army of specialists that it doesn’t have the resources to employ. ), “Historically, transactions would come together by matching an object with an individual’s preference at a certain price point, and Sotheby’s retains data in those three areas,” said Tad Smith, Sotheby’s CEO, in a statement. View Original Article Every company today is a tech company, a maxim that was proven out today when one of the world’s oldest and biggest art auction houses acquired an AI startup. Sotheby’s has bought Thread Genius, which has built a set of algorithms that can both instantly identify objects and then recommend images of similar objects to the viewer. Read writing from Sotheby’s on Medium. (This is, apparently, also the case at Amnesty International, which is currently trying to build an AI-based system to help monitor activities around the world, essentially putting in place AI systems to do the work of an army of specialists that it doesn’t have the resources to employ. Thread Genius is one of several technologically minded acquisitions Sotheby’s has made in the past two years. The following example will setup the client and search a private catalog with an image query. Traditionally, auction houses have relied on an army of art connoisseurs — specialists who are able to identify artists, craftspeople, schools of work and often much smaller, more subtle details to help determine the provenance and value of a work — not only to help source objects, but to help find the right buyers to bid on and eventually buy the work. by Sotheby's) has raised a total of $0 in funding across 1 rounds. 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