Flipkart Partners with IIT Delhi for Joint Social Commerce Research
Walmart-backed e-commerce giant Flipkart said it has signed a memorandum of understanding with the Foundation for Innovation and Technology Transfer (FITT), the industry interface organization of the Indian Institute of Technology of Delhi (IIT-D) as part of its ongoing industry-academia collaboration program.
The study will include research in the areas of social commerce, product recommendations to sellers, resellers, and consumer product exploration journey.
As part of the research, Flipkart will provide research grants and market information to FITT. This will provide IIT and the universities involved in the partnership with the opportunity to work closely with Flipkart on research projects aimed at solving relevant technical challenges in the field of e-commerce, the e-tailer said in a communicated.
Flipkart and FITT will also jointly undertake a number of other initiatives, including hosting seminars, providing conference travel grants, and internship and mentorship opportunities. This memorandum of understanding is a step to strengthen Flipkart’s university collaboration program, which it has maintained for the past five years.
These collaborations aim to create industry-focused, applied research on some of e-commerce’s most compelling problem statements, which can make e-commerce accessible to more consumers and sellers.
According to a report by Recogn in November 2021, India will likely have 228 million native consumers via social commerce by the end of 2022, a jump of 45% from the user base of 2021. This requires research and understanding of how the next group of consumers will explore e-commerce through social interaction, and also learn about user contributions to product recommendations in this journey.
“As an organization committed to solving India’s problems, we have developed many cutting-edge capabilities over the years and continue to push the boundaries to delight customers and create shared value for ecosystem partners. . In this endeavor, we are pleased to partner with IIT Delhi to co-develop capabilities that play a pivotal role in revolutionizing the future of social commerce. It will also provide opportunities for students, scholars and professors to gain real-world expertise and create innovative solutions that drive ecosystem development,” said Mayur Datar, Chief Data Scientist at Flipkart.
Flipkart said it is invested in the long-term advancement of universities in India and fostering collaborations through impactful academic research aligned with industry needs to deliver India-specific solutions. He has previously established several academic partnerships with leading institutes including Indian Institute of Science (IISC), IIIT Hyderabad, IITs (Kharagpur, Patna, Bombay and Kanpur) and IIMs (Ahmedabad and Kolkata). Flipkart also works with a few overseas universities such as Carnegie Mellon University and University of California San Diego.
“FITT works with industry to strengthen research translation and knowledge transfer for socio-economic empowerment. In this context, we are delighted to partner with Flipkart, a local e-commerce marketplace to explore open innovation opportunities to create valuable business solutions for millions of customers,” said Anil Wali, Managing Director of the FITT in a statement.
.Collaborative research projects have led to the development of a range of technologies such as fashion recommendation, query understanding, attribute extraction, demand planning, product categorization, utility of reviews, supply chain management (e.g. warehouse storage allocation), fraud detection, and Machine Translation. Several research papers have been published following leading academic conferences on ML/AI applications such as information retrieval (IR), knowledge discovery, data mining, and natural language processing ( NLP), according to an official statement.