FOR IMMEDIATE RELEASE
ELSE.ai enters $5M IBM Watson AI XPRIZE®
Milan, May 16, 2017: ELSE.ai, a Team by the Virtual Retail company ELSE Corp, a startup working on the transformation of the fashion retail chain through their “Virtual Retail” and “Real Time Fashion System“ innovative vision; announce their official entry into the IBM Watson AI XPRIZE®, a global competition challenging teams to develop powerful Artificial Intelligence (AI) based applications and demonstrate how humans can collaborate with AIs to tackle the world’s grand challenges. The Team ELSE.ai, headquartered in Milan, Italy, with six team members, is among the 147 teams from 22 countries that are competing for the $5M prize purse.
The research team is composed of a sub-group of collaborators inside ELSE Corp, spanning three main areas: Design, Technology and Operations. In addition, the startup has a wide network of Research, Industrial and Technological partners whose resources they have access to when needed. ELSE Corp was founded in 2014 and since then has been working on innovating the fashion industry through enabling of new business models, integration of 3D technologies on industrial level, predicting the role of AI, to enable the fashion industry towards a sustainable future. Team ELSE.ai is the only team from the 147 teams participating in the IBM Watson AI XPRIZE® working towards impacting the fashion industry.
Andrey Golub, Co-Founder, CEO & CTO of ELSE Corp says: “We are proud and happy to have been given the opportunity to be part of the IBM Watson AI XPRIZE challenge, as it creates new exciting scenarios for our startup’s strategic development; gives us the possibility to get in touch with top mentors from tech as well as industry experts; to engage with the Bluemix technology and; especially, to enter the community of AI-oriented minds, just like us! The impact of the fashion industry, looking at the entire ecosystem that surrounds it, is massive. The ecological and social impacts of the industry, as they currently stand, are quite damaging. We are working on changing that”.
For more information about team ELSE.ai, please visit http://else.ai. High-resolution images, video and other team materials are available on request
For more information about ELSE Corp, please visit www.else-corp.com
For more information about the IBM Watson AI XPRIZE, please visit ai.xprize.org
XPRIZE, a 501(c)(3) nonprofit, is the global leader in designing and implementing innovative competition models to solve the world’s grandest challenges. XPRIZE utilizes a unique combination of gamification, crowd-sourcing, incentive prize theory, and exponential technologies as a formula to create exponential impact in the grand challenge domains facing our world. Active competitions include the $30M Google Lunar XPRIZE, the $20M NRG COSIA Carbon XPRIZE, the $15M Global Learning XPRIZE, the $7M Shell Ocean Discovery XPRIZE, the $7M Barbara Bush Foundation Adult Literacy XPRIZE, the $5M IBM Watson AI XPRIZE, the $1.75M Water Abundance XPRIZE and the $1M Anu & Naveen Jain Women’s Safety XPRIZE. For more information, visit http://www.xprize.org/.