Sotheby's acquires AI startup Thread Genius to enhance data strategy

Sotheby's has acquired Thread Genius, an artificial intelligence startup specializing in taste-based image recognition and recommendation technologies. The startup was founded by software and machine learning engineers Andrew Shum and Ahmad Qamar, who will join the auction house this week. This acquisition is part of a larger initiative focused on the strategic capture and use of data to improve internal processes and expand client services, according to Jennifer Deason, Sotheby's head of strategy & corporate development, who will oversee the department. Recently, Sotheby's also appointed Richard Vibert as head of data & analytics strategy; he previously worked at Hong Kong venture capital firm Arbor Ventures, where he specialized in investments in big data, machine learning, and blockchain. These moves underscore Sotheby's commitment to leveraging advanced technologies in its operations.