Ricardo Invests in AI: A Further Step to Strengthen the Circular Economy

13.11.2024

The Swiss online marketplace Ricardo is setting new standards for a seamless second-hand trade, a key element in promoting the circular economy, with the integration of a free AI technology. With the launch of “Ricardo AI” on Android and iOS apps as well as the website, searching, finding, buying, and selling items has become more intuitive and faster than ever before. An image of a product is all it takes for the AI to suggest similar items on Ricardo for purchase or to create automatically generated listing descriptions for selling the product.

Originally born from a hackathon idea, Ricardo began developing and integrating artificial intelligence in its buying and selling processes at the start of 2024. Since summer, “Ricardo AI” has enabled even faster product search and discovery. Recently, the AI technology has also become available for efficient selling in both Android and iOS apps, as well as in the web version. With AI-powered tools, such as an advanced image recognition solution, Ricardo is simplifying the buying and selling experience for its users, marking another important step toward sustainable consumption and promoting the circular economy.

Lightning-Fast Searching, Intuitive Shopping

Ricardo AI makes it easier for customers to browse listings, providing an intuitive shopping experience without complex search queries. Users can simply scan a product with their phone camera or upload an existing image. Ricardo AI then identifies identical or similar items currently available on Ricardo in just seconds. Or, if users have already discovered an interesting product on Ricardo, a click on the AI button in the listing will display further similar suggestions. This visual product search achieves high precision thanks to a complex image recognition technology.

Efficient Selling through Smart Listing Descriptions

AI also makes selling on Ricardo significantly easier. Anyone wishing to sell an item can scan it directly with their phone camera or upload an existing image. Ricardo AI then finds comparable listings on Ricardo, suggests market-appropriate prices, and provides automatically generated titles and descriptions for the listing. This AI feature offers an efficient and convenient selling process, enabling Ricardo users to give unused items a second, sustainable life as quickly as possible.

Positive User Feedback

Within the first few weeks after launch, Ricardo’s AI has already gained great popularity among users. Currently, a third of the listings created through the app are generated with the help of “Ricardo AI.” About 2 percent of all Ricardo search queries involve a visual search (AI product search or display of similar items), and so far, approximately 30,000 users have used the AI technology to search for or sell a product.

Continuous Optimization of Features

At Ricardo, a dedicated team of software developers, designers, and product managers has been working intensively for over six months on the development and ongoing optimization of “Ricardo AI” to continuously improve the functionality of the AI and tailor it to users’ needs. “The easier it is to buy and sell used items on Ricardo, the more sustainable behavior will become second nature in Switzerland,” says Francesco Vass, Managing Director of Ricardo. “With Ricardo AI, we’re making the trade of unused second-hand items as simple as possible, and we’re convinced that we’re making a further important contribution to promoting the circular economy.”

Press Contact

Mojca Fuks
Senior Corporate Communications Manager & Media Spokesperson

[email protected]

+41 76 220 59 89

About Ricardo
Founded in late 1999 in Baar (ZG), Ricardo has grown over the past 25 years to become one of the most popular online marketplaces for secondhand goods in the Swiss e-commerce market. Ricardo is part of SMG Swiss Marketplace Group AG.
www.ricardo.ch

About SMG Swiss Marketplace Group AG
SMG Swiss Marketplace Group AG is a pioneering network of online marketplaces and an innovative digital company that simplifies people’s lives with forward-looking products. SMG Swiss Marketplace Group AG provides customers with the best tools for their life decisions. Its portfolio includes Real Estate (ImmoScout24, Homegate, Flatfox, Immostreet.ch, alle-immobilien.ch, home.ch, Publimmo, Acheter-Louer.ch, CASASOFT, IAZI), Automotive (AutoScout24, MotoScout24), General Marketplaces (anibis.ch, tutti.ch, Ricardo), and Finance and Insurance (FinanceScout24, moneyland.ch). The company was founded in November 2021 by TX Group AG, Ringier AG, La Mobilière, and General Atlantic.
www.swissmarketplace.group

Marta Andreoni

Head of Design for Automotive

Introduce yourself and your role at SMG

I’m Marta Andreoni, Head of Design at SMG Automotive. I lead the design and UX writing team shaping AutoScout24 user experience. 

In my role, I wear many hats. My main focus is ensuring we stay true to our vision “simplifying people’s lives and connecting humans through innovative digital platforms” and our brand promise, “make it happen”. I challenge my team to think user-first, push for innovation, ease of use for our customers and make forward-thinking decisions, even within business and technological constraints.

 A big part of my role is supporting each designer’s growth, motivation, and career development. Through one-on-one coaching, mentoring, group work, and projects, I help my colleagues set and achieve their goals while fostering new learning opportunities.

What helps you feel empowered and confident in your role?

If I had to mention one thing I would say “being proactive” has been key to feeling more empowered. I enjoy solving problems, so when issues or opportunities arise, be it in the product, market or the team, I get curious and I proactively investigate the reasons and try to bring inputs to be discussed with others, this makes me feel I can be part of the process or solution and my point of view is going to be taken seriously. My optimism also plays a role, giving me confidence that even the most complex challenges can be solved. 

Besides, having trust from other managers and colleagues makes me feel in a safe environment where I can take ownership on topics I’m passionate about. 

What’s one thing SMG does well in fostering an inclusive workplace? What more can be done to amplify and support different perspectives in the workplace?

In my experience, we strive for balancing top-down and bottom-up inputs, ensuring employees can influence product directions, processes, and culture. People are approachable, and our strong feedback culture helps voices be heard. Across SMG, initiatives like regular People & Culture Surveys, topic guilds, and events in our locations across the world foster open exchange and mutual learning.

That said, I’ve noticed that quieter voices sometimes get less space, or interacting with top management can feel intimidating, especially when giving critical feedback. To make participation more inclusive, we could apply more facilitation and group work techniques like structured turn-taking, written input, and smaller group discussions – ensuring everyone, regardless of confidence level, seniority or personality, feels comfortable contributing. 

Design is often about seeing the world differently. How do unique perspectives contribute to more innovative, inclusive, or impactful design?

Design is about understanding diverse user personas and perspectives to create solutions that truly meet their needs or create new opportunities. I believe in the power of collaboration to shape user experiences – bringing together different disciplines, backgrounds, and lived experiences helps challenge assumptions, uncover blind spots, and drive more inclusive, innovative, and impactful solutions.

Looking back on your career, what’s one lesson or piece of advice you wish you had known earlier as a leader in design?

There are three things no one really prepares you for as a design leader: dealing with constant change, facing failure and handling emotions at work. These topics aren’t talked about much until you face them. I was lucky to learn from others’ experiences, but much of it came through my own.

One thing I wish I had understood earlier is the power of emotional intelligence, my job is no longer about the content and the design, it is about people. Self-awareness, not just of your own emotions, but also how others feel and react, can be the difference between conflict and harmony, frustration and clarity. The more I grow as a leader and designer, the more I realise that design isn’t just about doing the design job, delivering solutions on the market: it’s about navigating people, their emotions, and making change more acceptable and transforming issues into opportunities, both within the organisation and through great products.

 

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