PARIS, Nov. 28, 2019 /PRNewswire/ -- Thanks to
artificial intelligence (AI) – which we realised a long time ago
would have a massive and revolutionary impact on the digital
economy – Artmarket.com will soon be offering tailored
subscriptions to meet the exact needs of its customers and
members.
According to thierry Ehrmann, founder/CEO of Artmarket: "The
potential is enormous and likely represents tens of thousands of
new paying customers.Today, Artprice by Artmarket.com offers 4
subscriptions with HD images ranging from 245 to 749 euros per year. At the beginning of 2020,
Artmarket.com will be able to offer thousands of different and
fully personalized subscriptions for each of its 4.5 million
members at prices ranging from 180 to 3,600
euros per year."
Using AI and Big Data, Artmarket.com will finally be able to
capitalise the real value of Artprice's accumulated assets over the
past 20 years, namely, close to 5 million members who regularly
access our databases and services in free mode, but who, until now,
have not found the right formula for their personal requirements in
our 4 subscription packages. For this community, It was not a
problem of price, but rather the absence of personalized
subscriptions corresponding to their complex and highly individual
browsing histories.
It should be noted that compared to other economic sectors, the
structure and nature of the Art Market is highly complex: artists,
artworks, mediums, auction houses, countries and places of sale,
biographies, periods, movements, schools, etc. all contribute to a
profoundly fragmented market.
Faced with this rare complexity, Artprice by Artmarket.com's
loyal members – roughly 4.5 million in total, whose browsing and
search habits we have logged in full compliance with applicable
laws – will at last be offered subscriptions costing between 180
and 3,600 euros per year,
corresponding exactly to their specific needs based on their
browsing histories and their respective interests.
According to numerous existing studies, the integration of AI
and Big Data into the B2C and BtoB interface immediately generates
strong sales growth. The GAFAs have all integrated AI into their
business models, achieving triple-digit revenue growth!
This new 'resource', resulting from an industrial partnership
with Vahumana (Groupe TRSb) one of Europe's leaders in Artificial Intelligence,
once again gives ArtMarket.com a substantial advance that will
allow us to consolidate our global Leader position, maintain our
perpetual adaptation to technological developments, and, above all,
adapt our business model to the realities of contemporary
consumption where the capacity to offer quality and tailor-made
services is absolutely key to survival.
This project has been made possible by our name change and,
above all, by the extension of our corporate purpose to include
"metadata processing" as part of Artmarket.com's global strategy as
a global player in the Art Market.
Artprice by Art Market's customers and non-subscribing members
have clearly expressed their wish to be offered ultra-personalized
services based on their navigation histories, their discoveries and
their aspirations. We must therefore offer tailor-made services.
Without AI and Big Data, it would have taken hundreds of employees
in Artmarket.com's marketing department and an almost unmanageable
IT back-office to meet these expectations.
Artmarket.com's clients and non-subscribing members have access
to information about more than 720,000 artists down the centuries
and 180 million artworks in a range of mediums. As of early 2020,
our AI and Big Data collaboration with Vahumana will allow us to
store and process in our multiple server rooms, in real time,
billions of queries (logs) per year, directed towards
Artprice.com's free or subscription-based services and structured
by Artmarket.com. This technological feat was unimaginable and
financially impossible until recently.
It is not just a question of storing information, but also of
calculation speeds and real-time behavioral analysis in strict
compliance with international law.
With our AI systems, customers will have real-time access to
queries that our computer scientists and econometricians only had
access to after innumerable complex operations on our databases and
a waiting time that was incompatible with Internet browsing. Today
the Internet reaches more than 4 billion users in 4G, Wi-Fi / Fiber
and 5G, the latter technology being already operational in many
countries, including the USA,
Greater Asia and Europe.
This major collaboration between Artmarket.com and Vahumana has
received financial support from France's Public Investment Bank after
Artmarket.com once again obtained the "Innovative Company" label
from the French State.
We can now customize our subscriptions, products and paid
services for the millions of collectors and Art Market
professionals who until now were not finding solutions adapted to
their individual approaches within Artprice's four standard
subscriptions. This represents an unprecedented development for the
global Art Market.
The resulting increase in our customer base without employing
any additional marketing and/or human resources will generate a
strong increase in revenue and this additional revenue for
Artmarket.com will translate almost entirely into net profit since
the company is already profitable thanks to its sound
management.
According to Arnaud Girard,
Director of Strategy at Vahumana:
"The corporate name change from Artprice.com to Artmarket.com
and the modification of the company's Articles of Association have
laid the foundation for a new development.
Artmarket's and Vahumana's joint Add a Zero project is based
on a scientific and philosophical paradigm shift... and it will
completely alter Artmarket's economic scope.
It reflects the transition from an 'information market' to a
'data exploitation market' and it will extend Artmarket.com's
knowledge and expertise to the entire Art Market.
Every year Artmarket.com generates, processes and analyzes
massive quantities of metadata (first and second party). It is now
moving into a new phase in which this metadata can be structured
and exploited projectively.
The collaboration with Vahumana – a company specialised in
economic and technological strategy as well as experience design,
working in a resolutely transversal and interconnected vision of
modern socio-economics – will allow Artmarket.com to elaborate a
structural approach to the operational exploitation of its big
data."
Arnaud Girard, Director of
Strategy at Vahumana, also confirmed:
"Our collaboration with Artmarket.com has allowed us to focus
on a range of possible futures for the art world, based on the Law
of Large Numbers and on an emotional understanding of the sector.
We want to take Artmarket.com into the world of smart data. Where
Artprice.com created objectivity... Artmarket.com will create
predictability."
Data enhances what "is".
By exploiting our data – in particular first party data – we
will be able to create paths, products and services that respond
more precisely to the needs of our different types of users.
Collectors, art professionals and artists will benefit from
personalized and optimized content and features.
Vahumana will enhance the operational efficiency of existing and
future systems in order to extract maximum value.
The data determines what will "become".
One of the collateral benefits of data exploitation is the
discovery of unforeseen and otherwise unforeseeable opportunities.
Artmarket.com and Vahumana use what might be called a "serendipity
approach", in which attention is paid to the surprising results of
studies and relevant interpretations are proposed. Probability
theory, made possible by the volume and quality of the data, is
used to confirm the relevance of these interpretations.
Artmarket.com is therefore giving itself the means to move into
new strategic paradigms.
Data leads us to "deeptech".
Steered by Renaud Rochefolle, Vahumana's Chief Technology
Officer, Artmarket.com's Big Data leads naturally towards the
construction of powerful machine learning systems... a cognitive
approach to analysis.
The machine learning systems will model the complex
relationships between causal factors and forecast variables.
The implementation of a Smart Data strategy will optimise the
processing of information and deliver relevant and actionable data
for our customers and our internal teams.
Data brings us back to human knowledge.
In order to create new value-adding propositions and identify
the most interesting avenues to explore, we need to combine
data-derived knowledge with an intimate observation of the
customers' most subtle emotions and behavioral quirks.
Dataism is not enough.
According to Bertrand Cochet,
Vahumana's Experience Design Director "this more emotional and
human approach requires identification of the root causes of the
problems to be solved and ultimately opens the path to
innovation."
The segmentation of customers and their requirements only has
relative (and perishable) stability. External disrupting factors
can appear overnight.
Artmarket.com is thinking hard about what its customers will
need in the future and the best way to serve them.
"We will secure the core business and double down on
market-readable peripheral revenue," concludes Arnaud Girard.
The founder of Artprice and CEO of Artmarket.com, thierry
Ehrmann: "in the early 2000s the famous sociologist and
historian, the late Raymonde Moulin,
who, together with Raymond Aron,
conceptualized the Art Market, said 'Whatever the future of
Artprice, there can be no doubt that with Artprice thierry Ehrmann
will permanently change the history of the Art Market.'
Almost 20 years later, I cannot help but remember this
prediction as we launch Artprice's second incarnation with
Artmarket.com. Having completed a massive cycle of technological
research and development, we realised we needed to move into a
second stage that requires almost unlimited resources in computing
power and storage capacity.
Fortunately, the technological and scientific solutions that
can help us make this step are now within reach, and we are
therefore about to make a historical step with enormous economic
consequences. Artmarket.com possesses one of the most sought-after
resources in the 21st century... practically all of the Art
Market's historical data – from the dawn of time to the present day
– commented by our historians and structured by our IT teams. These
teams are now augmented by Vahumana's top-bracket expertise.
Remembering the motto of the Pythagorean School..."all is
number"... we are looking forward to changing the way the Art
Market functions… a modus operandi still dominated by the petrified
standards and customs of art academics at the beginning of the last
century."
Copyright 1987-2019 thierry Ehrmann www.artprice.com
- www.artmarket.com
About Artmarket:
Artmarket.com is listed on Eurolist by Euronext Paris,
SRD long only and Euroclear: 7478 - Bloomberg: PRC - Reuters:
ARTF.
Discover Artmarket and its Artprice department on video:
https://en.artprice.com/video
Artmarket and its Artprice department was founded in 1997 by its
CEO, thierry Ehrmann. Artmarket and its Artprice department is
controlled by Groupe Serveur, created in 1987.
See certified biography in Who's who ©:
https://imgpublic.artprice.com/img/wp/sites/11/2019/10/biographie_oct2019_WhosWho_thierryEhrmann.pdf
Artmarket is a global player in the Art Market with, among other
structures, its Artprice department, world leader in the
accumulation, management and exploitation of historical and current
art market information in databanks containing over 30 million
indices and auction results, covering more than 700,000
artists.
Artprice Images® allows unlimited access to the largest Art
Market image bank in the world: no less than 180 million digital
images of photographs or engraved reproductions of artworks from
1700 to the present day, commented by our art historians.
Artmarket with its Artprice department accumulates data on a
permanent basis from 6300 Auction Houses and produces key Art
Market information for the main press and media agencies (7,200
publications). Its 4.5 million 'members log in' users have access
to ads posted by other members, a network that today represents the
leading Global Standardized Marketplace® to buy and sell artworks
at a fixed or bid price (auctions regulated by paragraphs 2 and 3
of Article L 321.3 of France's
Commercial Code).
Artmarket with its Artprice department, has been awarded the
State label "Innovative Company" by the Public Investment Bank
(BPI) (for the second time in November
2018 for a new period of 3 years) which is supporting the
company in its project to consolidate its position as a global
player in the market art.
Artprice by Artmarket's 2018 Global Art Market Report published
in March 2019:
https://fr.artprice.com/artprice-reports/le-marche-de-lart-en-2018
Index of press releases posted by Artmarket with its Artprice
department:
http://serveur.serveur.com/press_release/pressreleasefr.htm
Follow all the Art Market news in real time with Artmarket and
its Artprice department on Facebook and Twitter:
https://www.facebook.com/artpricedotcom (4.5 million
followers)
https://twitter.com/artmarketdotcom
https://twitter.com/artpricedotcom
Discover the alchemy and universe of Artmarket and its artprice
department http://web.artprice.com/video headquartered at the
famous Organe Contemporary Art Museum "The Abode of Chaos"
(dixit The New York Times):
https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013
L'Obs - The Museum of the Future:
https://youtu.be/29LXBPJrs-o
https://www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 (4
million followers)
https://vimeo.com/124643720
https://www.facebook.com/the.demeure.du.chaos.theabodeofchaos999
Contact Artmarket.com and its Artprice department
Contact: thierry Ehrmann, ir@artmarket.com
Logo -
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SOURCE Artprice.com