Literacka Sp. z o. o. implements the R&D project entitled Virtual Bookseller. The value of the project implemented by the company is PLN 1 million, and the contribution from European Funds is 80% of this amount.
January 10, 2019 an investment agreement was signed between Literacka and Fund Simpact Fund Sp. z o. o
Thanks to the Fund’s investment, we have the opportunity to develop a proprietary, intelligent recommendation system for the book market. The developed AI software, based on deep learning and natural language processing techniques, reads and analyzes the content of books in Polish and English, and automatically selects titles according to the preferences and interests of the user. The essence of the innovation of the planned solution is automation and basing recommendations on the soft features of the plot. It is also planned to create an advisory bot that will communicate with the user via a conversational interface, which will make the system more attractive and easier to use.
The solution that the Literacka team is working on is to support the decision-making process of purchasing books . In the longer term, this solution is also to encourage people who rarely reach for them to buy or borrow books, because the lack of time and the huge number of titles on the market discourage them from the effort of finding a suitable item. The legitimacy of creating such an advanced system is confirmed by the persistent trends in the e-commerce market, which emphasize the importance of targeting the service towards an individual recipient, personalizing the message and effectively obtaining information about customer preferences. Market research conducted among online bookstores showed that over 80% of them are interested in using the recommendation system dedicated to the bookstore industry in their sales activities.
Literacka Sp. z o. o. was the subject of the investment Fund Simpact Fund Sp. z o. o, implementing a project co-financed by National Center for Research and Development , from the funds European Regional Development Fund under the Intelligent Development Operational Program 2014-2020, Measure 1.3: R&D works financed with capital funds, Sub-measure 1.3.1: Support for research and development projects in the preseed phase by proof of concept funds – BRIdge Alfa.
