Wildfire, which powers rewards programs and shopping companions, has announced Revenue Engine, which monetizes ecommerce transactions driven by generative artificial intelligence (GAI) applications, plugins, and products.
“When you think about what’s happening in doom rooms and garages across the country, GAI makes it incredibly easy to create hyper-personalized services,” said Jordan Glazier, CEO at Wildfire Systems. “It’s the last mile of monetization that remained the challenge."
The generative AI industry is estimated to grow from $40 billion in 2022 to $1.3 trillion by 2032, according to Insider Intelligence, citing data from Bloomberg.
Wildfire powers rewards programs at Microsoft, Acorn and others. GAI promises to transform services across industries such as retail, travel and hospitality, financial services, healthcare, and many others.
TravelArrow, an all-in-one travel assistant that helps consumers get the best deal on their next vacation, partnered with Wildfire in 2022 to power their MilesBack feature which allows customers to automatically earn miles or cashback when they shop online.
As the company began to develop ForgeMyTrip to provide AI-generated trip itineraries, they turned again to Wildfire.
Through links that appear in online responses to queries, for example, in TripAdvisor, GAI will give the person searching for information options to make purchases or buy tickets or other merchandise to make their trip easier. This is done through Wildfire’s network of tens of thousands of merchants worldwide that pay a percentage for every referred transaction.
Revenue Engine does this by turning AI-created product recommendations from general and specialized chatbots, predictive text, or other software that generates or enhances content into monetized, revenue-driving ecommerce links to nearly 60,000 online merchant programs worldwide.
Whenever products are mentioned in generated content, Revenue Engine transforms those product mentions into monetizable links so that creators can earn a share of purchases made through those links.
Rather than generating content itself, Revenue Engine provides the AI infrastructure layer for monetization that can be used by anyone developing large language models (LLMs), or building products on top of them.