Magnetic's Artificial Intelligence Platform Business Gets Acquired by Deloitte
Deloitte announced earlier in September that they are acquiring Magnetic Media Online Inc’s Artificial Intelligence (AI) platform business. Headquartered in New York, Magnetic is a marketing technology company. The acquisition indicates the importance of strategic investment in Artificial Intelligence, audience data analytics and machine learning (ML). The acquisition works in favor of Deloittes Digital's Experience Services platform by making it faster and smarter. This shows the giants continual focus and commitment on delivering clients better data management capabilities, machine learning and AI driven insights, and the enhanced potential to turn insights into action through Deloitte Digital's creative and software coalitions. The result-oriented approach will work the best for clients by providing more relevant content, more liable growth and better customer experience.
Scott Mager, principal, Deloitte Consulting LLP and leader of Deloitte Digital's advertising, marketing and commerce practice said, "People's expectations for how brands should interact with them are higher than ever. They expect companies to provide interactions that are both personalized and have real-time relevancy in every channel,” Further he added, "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."
Corey Ferengul, executive chairman and CEO, Magnetic said, "We are excited to have Magnetic's product and engineering team join forces with Deloitte, and we know our unique machine learning expertise will help take customer engagement for marketers to a whole new level. 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."