Deloitte bolsters adtech and data offering with acquisition of AI business

Deloitte has acquired the artificial intelligence (AI) business from Magnetic Media Online,a marketing technology company based in New York.The move will help make Deloitte Digital's Experience Services platform "smarter and faster", signifying the strategic importance of enhanced investments in AI, machine learning and audience data analytics. According to the press statement, the acquisition also signals the continued focus on delivering clients better data management capabilities, AI and machine learning-driven insights, as well as the ability to turn insights into action through Deloitte Digital's creative capabilities and software alliances. This will allow for more relevant content, better customer experiences and more accountable growth for clients.Following the acquisition, Magnetic's product and engineering employees will join Deloitte Digital's Experience Services group based across a variety of offices. Founded in 2008, Magnetic is an adtech and targeting business driven by AI technology. It specialises in machine learning to determine the optimal channel, timing, message and content for each consumer interaction.Marketing has reached out to Deloitte for additional information.Scott Mager, principal, Deloitte Consulting LLP and leader of Deloitte Digital's advertising, marketing and commerce practice, said consumers now expect companies to provide interactions that are both personalised and have real-time relevancy in every channel."We're helping our clients make the shift from siloed advertising and marketing to real-time cross-channel experiences that are consistent across media, web, mobile, social and in the call center, with a store associate, or at the register," Mager added.Meanwhile, Corey Ferengul, executive chairman and CEO, Magnetic said, "We're passionate about bringing cutting-edge solutions to clients and helping them succeed. Together, we will build on this commitment by helping brands of all sizes engage more effectively with their consumers and create positive, profitable, long-lasting customer relationships."(Photo courtesy: 123RF)