Abstract

Over the past few decades, recommender systems have become an integral part of internet businesses. In fact the use of recommenders has become a necessity in industries such as e-commerce, streaming services and online journalism.

The rankings of internet’s biggest companies are regularly dominated by companies that are involved in the area of recommendations, whether for website personalisation or by providing them as a service for other businesses. Amazon even attributes 35% of its sales directly to its recommendation algorithms [1].

To expand on the preceeding talk, we will explore the recent progress in the field, hybrid algorithms for recommendations and the use of recommender systems in industry with the challenges connected to the design of these systems.

[1] McKinsey&Company https://www.mckinsey.com/industries/retail/our-insights/how-retailers-can-keep-up-with-consumers