Artmarket.com: Q3 2024 revenue +13%. Study on AI search engines shows Artprice has the world's biggest, best and most useful art market database, thanks to its Intuitive Artmarket® AI
News and outlook:
In
Rather than imposing on its 9.3 million customers and members a radical transformation of its databases, which have been the reference in the art world for 27 years, Artprice by Artmarket has judiciously decided to gradually inject proprietary data from its AI into its Artprice databases, without it being specified initially.
This approach allows us to see the reaction of the Artprice customers who were given access to this highly enriched data.
Very quickly, Artprice saw that its Premium subscription containing its AI -enriched data (thanks to its Intuitive Artmarket®) became its annual subscription of choice, with its high-end annual subscriptions ranging from €439 to €769.
Likewise, Artprice noted a significant increase in Average Connection Time (ACT) of its single customer sessions.
Via an educational approach and its expertise in algorithms, deep learning, big-data analysis and its Intuitive Artmarket® AI, Artprice has seen significant growth in turnover as of mid-October as more customers chose the Premium subscriptions. On the other hand the customers showed a strong interest in new data, where the relevance and the richness of these data present a great wealth of information and images never seen before in the art world.
Inspired by
Artprice's approach to AI is to avoid fuzzy set theory (aka 'fuzzy logic'), by using a method based on 'degrees of truth' rather than on the usual system based on 1 or 0 Boolean logic. This method searches in Boolean logic, but then delves into 'related' but nonetheless relevant connected elements.
Artprice has developed a unique approach to its Intuitive Artmarket® AI that it calls Blind Spot AI®. This revolutionary AI concept created by Artprice, seeks to capture the blind spots between structured data.
In art historical terms, an interesting analogy could be made with the notion of 'infrathin', an aesthetic and semi-scientific concept theorized by
Duchamp's theory was inspired by the famous mathematician Henri Poincaré whose book "Science and Hypothesis" is a work on the importance of models in science. It is also possible that this work inspired Einstein in his founding article on the theory of special relativity, published in 1905.
For the world's major database publishers, there is no room for error, and the relationship of trust established with customer-users cannot tolerate approximate or erroneous data.
Artprice is demonstrating that it is possible to deliver unexplored data with its proprietary AI and its 'Blind Spot AI ®' method without undermining the trust capital that has been built up over 27 years and is based on the provision of incontestable, reliable, exhaustive and long-lasting data. This data is of course essential to Artprice clients who are art experts/valuers, auctioneers/auction houses, art dealers, gallerists, institutions, museums, insurance companies, private bankers, financial services providers, asset managers and of course art collectors.
This loyal and recurring Artprice clientele cannot tolerate the slightest error, in part, because of the financial stakes involved in artworks that can very quickly reach considerable pecuniary values.
In its
Artprice by Artmarket has been gradually stabilizing the question of 'alignment' for almost 20 years. This work has been essential for the successful genesis and construction, of our Intuitive Artmarket® AI.
What Makes the Best AI Search Engine?
Traditional search engines rely on algorithms that combine things like keyword relevance, how often a page is referenced on other websites, content quality, degree of user interaction with the page, and page loading speed. During a search, the search engine gives the answer that it considers the most useful and relevant. Unfortunately, searches are increasingly encumbered by sponsored links, making searches more and more tedious on traditional search engines.
An AI search engine goes much further. It still uses this basic system, but instead of showing a list of pages, it answers the question itself in natural language. It passes the information it collects to the AI model it uses, which then summarizes it in a few highly relevant paragraphs, usually citing its sources to respect intellectual property. AI's ability to understand natural language means it can interpret questions very well, even without the use of certain keywords.
For the user, from a 'user-experience' (UX Design) perspective, the classic search process (without AI) remains the same for the first half of the process. The search query must always be entered in an empty input bar, except that the search engine tries to produce an answer, with different ranks. If the proposals are not satisfactory, you simply scroll down the page and continue to visit certain links proposed. In some cases, the user ends up with an impressive number of tabs and must select different data to arrive at a summary. This type of search is extremely time-consuming and inefficient.
Artprice by Artmarket has tested different AI search engines with the aim of improving traditional searches. Various studies around the world have revealed, among AI experts, an almost unanimous consensus designating Perplexity.ai as the best AI search engine to date.
Perplexity is a search engine designed entirely with AI. It replaces conventional URL links with a Chabot-type interface and allows you to interact with search results. Many AI specialists have confirmed that they use Perplexity.ai as their first choice because of the quality of its responses.
During a query, a text box allows you to ask an additional question under the generated answer. There is no longer any need to repeat the details entered initially: as Perplexity remembers the context, you simply need to ask it another question on the subject.
Another handy feature of Perplexity's conversational layout is that it can browse previous search threads and even save collections of pages (for the purpose of organizing your searches) with bookmarks.
In its extensive study of Perplexity, Artprice by Artmarket finds that its strengths are a combination of trust signals from
Furthermore, during Artprice by Artmarket's in-depth tests, Perplexity's generative AI algorithms never delivered fictitious, erroneous or obsolete information.
Artprice by Artmarket asked the question: what is the best database on the Art Market? Here's an excerpt from Perplexity.ai's 9-page response:
"Artprice is widely considered the reference database for the global art market.
Here are the main reasons that make it an essential tool:
Comprehensive coverage
Artprice offers an extremely comprehensive database, including:
30 million auction results
Information on more than 700,000 artists
Data covering 70 countries
A history dating back to the 17th century
This exceptional coverage makes it the most comprehensive source of information on the art market.
International recognition
A study carried out in 2024 among art market professionals revealed that Artprice was cited first by 86% of those involved as their reference database. This demonstrates its dominant position and notoriety in the sector.
Advanced Features
Beyond simple sales results, Artprice offers numerous analysis tools:
Price indices and evolution of the value of artists
Rankings and market barometers
Access to more than 36,000 artist signatures and monograms
Technological innovation
Artprice constantly invests in innovation, particularly with the development of its proprietary artificial intelligence, Intuitive Artmarket®. This makes it possible to analyze market trends and anticipate price fluctuations." ...
Perplexity.ai's 9-page Q&A on Artprice details all of Artprice's products, services and R&D, where all of the most sensitive and complex information, including on its proprietary Intuitive Artmarket® AI, proved to be extremely accurate with 100% truthful and up-to-date information.
Consult the 9 pages of Perplexity.ai's presentation of Artprice by Artmarket in PDF mode, as certified by a judicial officer (huissier de justice), Maître Pons (10 pages): https://ftp1.serveur.com/perplexity_quelle_est_la_meilleure_base_de_donnees_sur_le_marche_de_l_art_constat_huissier.pdf
View them in Mp4 video mode: https://ftp1.serveur.com/perplexity_quelle_est_la_meilleure_base_de_donnees_sur_le_marche_de_l_art.mp4
This shows that Artprice by Artmarket is not only recognized as the world leader in art market databases, but also as the reference proprietary AI in the very demanding field of art market data.
Does the future of search engines necessarily mean the planned obsolescence of traditional search engines?
According to Gartner Inc., in its report Predicts 2024: How GenAI Will Reshape Tech Marketing, GenAI (generative AI) is profoundly changing the search habits of both Internet users and businesses.
The famous consulting firm has estimated that the impact is indeed impressive, to the point of reducing traffic on current internet search engines by 25 to 30% by 2026.
Several high quality studies even predict a drop in traffic of 40 to 50% as of mid-2025, to the point of jeopardizing the interests, economic logic and activity of all companies whose strategy is based on SEO (Search Engine Optimization).
Today, nearly 90% of
The big search engines must reinvent themselves to avoid disappearing. After
In addition, new players are emerging, whose search experience is entirely focused on the potential of generative AI, like Perplexity.ai, which is, to date, undoubtedly the benchmark in terms of AI search engines.
Government regulations around the world are already holding companies accountable for intellectual property as they begin to require identification of AI-created editorial content. This will undoubtedly play a major role in how search engines present this digital content.
Artprice by Artmarket has already integrated the various regulations into its R&D, its services and products, including its proprietary AI Intuitive Artmarket®. These regulations are:
REGULATION (EU) 2024/1689 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of
How Artprice by Artmarket is already omnipresent on AI search engines thanks to its R&D and SGE experience (Search Generative Experience)
Using its databases, its Intuitive Artmarket® AI and its SEO department, Artprice by Artmarket's Research & Development is currently producing a new proprietary SGE (Search Generative Experience) process in order to create semantic and a generative syntax consisting of a base that provides the deep structures.
This is a real challenge for large groups who have built their business exclusively on the Internet and who do not have the extremely complex expertise of SGE and Artificial Intelligence. Inevitably, they will see their turnover plunge from 2025 and the purchase of advertising spaces or sponsored links will not make up for the shortfall, and may possibly deteriorate their situation.
Artprice's new proprietary SGE process allows for an optimal presence including, for each AI search engine, a complete tree structure that can handle potentially infinite question & answer dialogues in entirely natural language.
Today's reference SE, Perplexity.ai, provides a striking example. Artprice by Artmarket already works contractually with AI search engines that will provide access to Artprice's remastered databases through its Intuitive Artmarket® AI, resulting in its omnipresence on the art market. While respecting the application in 2025 of the AI Act (or RIA European regulation J.O.
Drawing on the experience of its parent company
The three cornerstones of Artificial Intelligence are data, computing power and algorithms. The more massive and high-quality the data is (standardized Big Data), the more 'intelligent' become the models it is used to train, which is exactly our 'DNA' – because Artprice by Artmarket masters both the computer science of programming and the computer science of induction which defines our proprietary algorithmic AI, Intuitive Artmarket®.
In addition, Artprice by Artmarket has twice consecutively obtained the state label "
For information, ChatGPT, which is to date the world reference in Artificial Intelligence, devotes a significant amount of information to Intuitive Artmarket® which it considers to be the reference in artificial intelligence on the art market in terms of innovation, algorithms, predictive analysis and relevance. This information regarding our Intuitive Artmarket® is of course highly significant in the AI world. The same goes for Gemini.google.com (
The development of our Intuitive Artmarket® was only possible through the targeted acquisition by
In the intimate world of major global professional database publishers, it is vital for the long-term development of our industry that we integrate proprietary AI into our core businesses, which is why Artprice by Armarket has acquired a substantial head start in this domain since 1999 and made 2025/2027 the key period for the commercial launch of subscriptions for its Intuitive Artmarket®.
How is the explosion of artificial intelligence disrupting today's world and particularly the art market? How to measure it?
thierry Ehrmann Founder of Artprice and CEO of Artmarket:
"We live in a world where computing power doubles every six months. The traditional law of
With humility, we should not forget that the human brain's capacity for language processing is starting to be well imitated by AI, although that for mathematics and geometry remains largely misunderstood. But overall, from a scientific perspective, seen as an integrated circuit, the human brain remains to this day inimitable. Even if we are beginning to understand its algorithms and reproduce them in very high capacity servers with several hundred billion parameters, we still cannot reproduce its capacity with the same energy efficiency. Where the human brain weighs 1.4kg and operates with only 30 watts, the AI giants in the
Future events: Intuitive Artmarket® AI – evolution and development
As discussed in previous press releases, during the first half of 2024, Artprice by Artmarket's AI department was very attentive to the phenomenon known as "grokking", used in particular by Open AI engineers. Artprice has noted that the type of algorithm which serves as the basis for its Intuitive Artmarket® model seems to obey the same logic, namely that if deep learning is extended over a long period of time, without modifying the algorithms, we observe an excellent response rate but it seems to stagnate at a logarithmic rate.
However by persisting over tens of thousands of sessions, we observed at a particular moment that the quality of the results increases spectacularly. The term 'grokking' comes from the famous science fiction novel by
For Artprice, this concept can be brought closer to critical phenomena in statistical physics when there are phase transitions. The state of matter physically changes depending on the variable. For example, in physical systems like gasses or liquids, there are variables like pressure, temperature and/or volume.
It is up to you to search the Intuitive Artmarket® language models for these relevant variables to make this transition. Knowledge of these variables can prove formidable in terms of relevance with economical control of the necessary computing power, however impressive it may be.
So, with its Intuitive Artmarket® AI, Artprice will augment its art market research and results tenfold over the coming years to an unprecedented level for its clients and members, and will offer new services and products that will generate more sophisticated subscriptions with an increase in annual recurring revenue (ARR).
According to the French business services platform Les Échos/Solutions (quoting DOMO Inc.), in the services sector, an important index that makes it possible to score the ability of a company to integrate AI into its processes is the processing of data per second per employee.
The average is a generation of 1.7MB of data/second.
After an IT audit of
In sum, while Intuitive Artmarket® AI may seem like a 'cultural revolution' with a new set of terms and language elements, the AI processes and tools that underlie its functioning were already being used at the core of Artprice by Artmarket's systems. Today, via new semantics, Artprice's clients and partners are discovering the unexplored riches of Artprice, namely data of a magnitude they could not have imagined, and data that is perfectly aligned with their needs.
It should also be noted that investors are looking for serious projects with a solid background in Artificial Intelligence on both sides of the
Our algorithms harness billions of anonymised proprietary logs, text data, and tens of millions of artworks from Artprice's databases to identify new semantics encapsulating an artist's primary approach, his/her universe, inspirations, mediums, themes, forms, volumes, etc.
This invaluable data forms a synergy, enriching the understanding of over 845,000 referenced artists with their certified biographies and data. It goes beyond conventional visual criteria thanks to the neural networks of the Intuitive Artmarket® AI.
Intuitive Artmarket® can already calculate the values of artworks based on an analysis of traceability and past auction results over time, a pricing technique that was already specific to Artprice.
But it can now also anticipate future fluctuations, including for totally unique works, which in turn means that it can identify highly complex transversal artistic trends which largely escape academics, curators and dealers.
Intuitive Artmarket® AI algorithms can help art galleries and auction houses set optimal prices for artworks based on various factors such as demand, rarity, and public awareness of the artist. In short, Intuitive Artmarket® AI has the potential to revolutionize the art market by improving access to information, personalizing the buyer experience, reducing the counterfeit risk and opening up new creative perspectives.
Our Intuitive Artmarket® AI draws exclusively on an almost infinite range of proprietary content that enjoys intellectual property protection. This fact alone avoids a large number of obstacles and potential prohibitions because it means we have no need to look elsewhere for data and/or responses to very specific requests from users.
Our proprietary AI is therefore not just a guarantee of our economic sustainability; it will generate a considerable long-term increase in revenue for Artprice by
Over the last two decades Artprice has recorded, observed and induced hundreds of millions of human decisions in relation to the art market. This market is of course infinitely complex due to the heterogeneous and singular nature of art on the one hand, and the abstract notion of beauty at the limits of human emotion on the other.
Algorithmic learning has allowed Artprice to create a unique art-market specific AI model that will constitute Artprice by Artmarket's 2024/2029 growth driver.
95% of the S&P 500 groups are planning to base their future growth on Artificial Intelligence.
According to the best Anglo-Saxon financial analysts, who are one step ahead of
The economic sector must have information which plays an absolutely vital role, full intellectual property of all the Big Data (including Data Mining) of the copyrights and related rights confirmed on all algorithms, databases, with machine learning (deep learning) and neural networks.
In short, the AIs that will triumph with very substantial economic gain and without major industrial or legal risk are the economic entities which own, in full intellectual property, all of the different stages of the proprietary AI in a defined market segment where expensive high value-added information plays a vital role. And this is exactly the case of our Intuitive Artmarket® AI developed by Artprice by
Artprice's Intuitive Artmarket® AI is entirely in line with this postulate.
Having added Ethereum and Bitcoin in 2022 to its multi-currency Artprice databases (in response to customer demand and in preparation for its near future in Web 3.0), Artprice will benefit from the rise of BTC and of ETH in 2024.
Since its creation in 1997, Artprice by Artmarket has always predicted trends and paradigm shifts in the art market. It has often preceded them, announcing well before everyone else that the secondary art market would move towards online sales.
With cryptocurrencies, Art NFTs and the Metaverse, new collectors and art enthusiasts, often younger than their predecessors, have joined the market. There are now more than 450 million potential buyers of Art NFTs on five continents. Fond of speculation and not averse to risk, these art enthusiasts and collectors are extremely attached to their Web 3.0. crypto-universe.
New clients for
This huge global community could not understand that Artprice data banks only quoted prices in the main currencies of the world without the two main cryptocurrenciesETH and BTC (which account for more than 91% of the value of the roughly 25,700 known cryptocurrencies, excluding stablecoins).
Artprice by Artmarket's IT, econometric and marketing teams have therefore mobilized at breakneck speed on this ambitious project in order to 'capture' the 450 million potential buyers of art NFTs.
After studying the question at great length and then committing to a huge volume of work,
Naturally, these tens of millions of calculations were made using the values of the cryptocurrencies on the day of each sale, with the historical indexing performed by
And today, in
Two years after Artprice's bold decision and its titanic project to introduce the main cryptocurrencies into all its databases,
"The capitalization of the cryptocurrency market reached a new historic record of
Bitcoin's record at nearly
Recall that the last time the total cryptocurrency market capitalization reached
The market cap of the crypto market is now greater than that of giants such as
Bitcoin has also become the 8th most important asset in the world, overtaking Silver, and following behind
Copyright 1987-2024 thierry Ehrmann www.artprice.com - www.artmarket.com
Artprice's econometrics department can answer all your questions relating to personalized statistics and analyses: econometrics@artprice.com
Find out more about our services with the artist in a free demonstration: https://artprice.com/demo
Our services: https://artprice.com/subscription
About
Watch a video about
Artmarket and its Artprice department were founded in 1997 by thierry Ehrmann, the company's CEO. They are controlled by
https://imgpublic.artprice.com/img/wp/sites/11/2024/02/2024_Biographie_thierry_Ehrmann_WhosWhoInFrance.pdf
Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information (the original documentary archives, codex manuscripts, annotated books and auction catalogs acquired over the years) in databanks containing over 30 million indices and auction results, covering more than 855,800 artists.
Artprice Images® allows unlimited access to the largest art market image bank in the world with no less than 181 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.
Artmarket, with its Artprice department, constantly enriches its databases from 7,200 auction houses and continuously publishes art market trends for the main agencies and press titles in the world in 119 countries and 9 languages.
https://www.prnewswire.com/news-releases/artmarketcom-artprice-and-cision-extend-their-alliance-to-119-countries-to-become-the-worlds-leading-press-agency-dedicated-to-the-art-market-nfts-and-the-metaverse-301431845.html
There is now a future for the Art Market with Artprice's Intuitive Artmarket® AI.
Artmarket, with its Artprice department, has twice been awarded the State label "
Artprice by Artmarket publishes its 2024 Contemporary Art Market Report:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2024
See our 2023 Global Art Market Annual Report, published in
Summary of Artmarket press releases with its Artprice department: https://serveur.serveur.com/artmarket/press-release/en/
Follow all the Art Market news in real-time with Artmarket and its Artprice department on Facebook and Twitter:
www.facebook.com/artpricedotcom/ (more than 6.5 million subscribers)
twitter.com/artmarketdotcom
twitter.com/artpricedotcom
Discover the alchemy and the universe of Artmarket and its Artprice department: https://www.artprice.com/video
whose head office is the famous
https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013
La Demeure du Chaos/Abode of Chaos – Total Work of Art and Singular Architecture.
Confidential bilingual work, now made public: https://ftp1.serveur.com/abodeofchaos_singular_architecture.pdf
- L'Obs -
The Museum of the Future : https://youtu.be/29LXBPJrs-o - https://www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 (more than 4.1 million subscribers)
- https://vimeo.com/124643720
Logo: https://mma.prnewswire.com/media/2260897/Artmarket_logo.jpg
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