Being AI spends $1.6m on 50% stake in retail pricing startup

CEO David McDonald said the investment represented how the company is using generative AI hype to sell the value of less “sexy” AI products. (Image: Being AI)

Ben Moore

Tue, 11 Jun 2024

Being AI has invested A$1.5 million (NZ$1.62m) to acquire a 50% stake in Melbourne startup Tymestack, which chief executive David McDonald said proves the company is about more than the hype of generative artificial intelligence.Tymestack’s product improves retailers' ability to optimise markdown pricing through its algorithm, based on a type of AI particularly good at forecasting called a graph-based neural network.In an announcement to the New Zealand Exchange (NZX), Being AI said that Tymestack can achieve “up to 20% better r...

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