October 29, 2023
Yelp, the popular online platform for finding and reviewing local businesses, has adopted artificial intelligence (AI) to improve its products and services. Yelp has been using AI for years to power its features, such as matching ads to users, ranking search results, classifying photos, and managing waitlists. But recently, Yelp has taken its AI game to the next level by using neural networks, a type of AI that can learn from data and perform complex tasks.
Neural networks are inspired by the structure and function of the human brain. They consist of layers of interconnected nodes that process information and adjust their weights based on feedback. Neural networks can handle large amounts of data and learn from their own mistakes, making them very powerful and versatile.
One of the benefits of using neural networks is that they can generate new content based on existing data. This is called generative AI, and it is one of the hottest trends in AI right now. Generative AI can create realistic images, texts, sounds, and even videos that look and sound like the real thing.
Yelp is using generative AI to create better ads for its advertisers. By using neural networks, Yelp can generate personalized and relevant ads that match the user's preferences and intent. For example, if a user is looking for a pizza place nearby, Yelp can generate an ad that shows a picture of a pizza with the name and location of the restaurant, as well as a catchy slogan or offer.
Yelp is also using generative AI to create better reviews for its users. By using neural networks, Yelp can generate summaries of long or complex reviews that highlight the main points and sentiments. For example, if a user is looking for a hotel in a certain area, Yelp can generate a summary that shows the average rating, the pros and cons, and the most helpful comments from other users.
Yelp's adoption of AI has helped it improve its performance and profitability. According to a recent report by Simply Wall Street, Yelp has a return on capital of 10%, which is higher than the industry average of 6.9%. This means that Yelp is making more money from its investments than its competitors.
Yelp is not the only company that is using AI to enhance its products and services. Many other businesses are following suit, such as Amazon, Netflix, Spotify, and more. AI is transforming the way we interact with online platforms and content. It is making our lives easier, more convenient, and more enjoyable.
Thank you for reading and stay tuned for more updates on the latest news in artificial intelligence!