I have received approval from the Patent Office for patents involving three innovative ways (MONETIZER, OPTIMIZER, and ECONOMIZER) to use AI as part of a system to improve a consumer’s experiences in Search, Shop, and Pay. SS&P is unique in that three major innovations constitute a mutually reinforcing system to the ultimate benefit of consumers.
Managements of Google and other search engine providers have conflicting goals. Providing the most relevant data to users, as a practical matter, becomes secondary to accommodating companies that pay for preferential display of information about their products/services. The Monetizer takes a diametrically opposite approach by paying users for their information and searches.
Fees are earned by generating unique, AI-based value to advertisers. Particularly important for advertisers is an AI-derived probability that a consumer will purchase a particular product/service at a particular time.
Consumers benefit from a digital bank that stores purchasing units earned from past searches, past purchases, and provision of personal information (verified data such as ownership of cars and real estate plus non-verified data). In addition, the digital bank stores unexpired dynamic digital coupons, i.e., dynamic in the sense of variable coupon terms and variable expiration dates generated by real-time AI analyses.
At the same time that a consumer indicates (via search engine, online store or physical store, or phone app) an immediate interest in purchasing a particular product, both the product supplier and its competitors have the opportunity to win an auction for immediate delivery of a customized digital coupon (or advertisement) to the consumer. Consumer data enables AI to assist suppliers in quantitatively optimizing both a bid to provide a digital coupon and the terms offered as part of the digital coupon.
The fast-growing GetUpside app, https://www.youtube.com/watch?v=k38Og4vzzGk&t=187s, enables business operators to compete for the opportunity to send digital coupons to consumers for immediate use at gas stations and other local businesses. This is clear proof of concept that the Optimizer patents offer a practical means to build a platform business. In addition, this platform can be expanded to attract online consumers ready to purchase a wide variety of products or services.
In addition, the Optimizer’s claims cover hardware and software that offer advantages (including lower costs) to retail stores seeking to eliminate checkout lines. The Optimizer approach is a low-cost way for large stores like Walmart to scale the patented technology. These economic advantages compare favorably to the recently introduced Amazon’s GO concept that uses expensive cameras and software for small stores.
By eliminating usage of credit cards and the associated transaction fees, merchants can increase profits while enabling consumers to receive lower prices on their purchases. AI enables merchants to make decisions that optimize the expected value of future profits from each customer. By dynamically analyzing consumer data, including past purchases in the merchant’s store (online or retail), AI-assisted decisions are made as to how much to lower Economizer product prices and possibly, how much to adjust store credit limits for the customer.
At checkout, customers review the potential savings from the use of store credit and bank withdrawal if a purchase exceeds their credit limit. Customers then choose Economizer price or credit card price. Customers receive periodic updates that communicate the AI-determined future credit limits corresponding to different levels of future purchases.