Simile Raises $100M to Build AI That Predicts Human Behavior for Businesses
Summary
Startup Simile secures $100 million to develop AI that predicts human behavior by training on interviews, transaction data, and behavioral research, with CVS already testing the technology to optimize product decisions as an alternative to traditional focus groups.
Key Points
- Simile raises $100 million in funding to develop AI tools that predict human behavior and consumer decisions
- The company trains its AI model on interviews with hundreds of people, historic transaction data, and behavioral science research to create simulations with AI agents representing real people's preferences
- CVS currently tests Simile's service to guide product stocking and display decisions, offering businesses an alternative to traditional focus groups for understanding consumer preferences