Google has been busy on the ecommerce front lately, announcing a plan to drop commission fees for sellers who use its Buy on Google checkout service, while making its pilot-tested product recommendation engine publicly available to let sellers display more personalized offers.
One key reason friendly fraud is such a problem is that merchants and banks lack the capacity to distinguish between legitimate and illegitimate dispute claims. AI-based tools sending transaction data would allow for more accurate analysis of industry trends and consumer preferences, freeing up resources and reducing overhead.
Advances in AI-based personalization technology let retailers tap into vast amounts of customer data. Analyzing it allows you to create personalized experiences that help secure customer loyalty. However, this exercise requires a clear strategy that should be based on a robust technology platform.
With historically low unemployment, the competition for reliable hourly workers has never been so stiff. Traditional employers are further hampered by gig companies luring workers with promises of flexible schedules. Here are some hiring and workforce trends to watch out for in 2020 that can impact your business.
Accel Robotics, a startup using AI and computer vision to enable checkout-free stores, has raised $30 million in a Series A round led by SoftBank. The system lets shoppers in grocery and convenience stores, quick service restaurants and drugstore chains grab items and go, getting a receipt sent via text or app to their phone.
Bump Boxes, an ecommerce subscription box brand for pregnant women, has seen huge success with its AI-enhanced marketing campaigns, launching Facebook and Instagram campaigns in minutes, decreasing ad spend by 50% and increasing purchases by 25% in two weeks.
Artificial intelligence is an integral part of the future of ecommerce. Profitable companies will understand how to make technology work in tandem with human counterparts rather than give in to fear that automation will replace people’s jobs.
While the terms “machine learning” and “artificial intelligence” are often used interchangeably, the main takeaway is that these advanced technologies offer better ways to solve complex planning problems. More organizations are recognizing their benefits to improve inventory forecasting accuracy and optimize stock replenishment.
Is emulating Amazon enough to succeed? No, because very few companies have the resources. For most, winning the war means quietly striking partnerships and collaboration initiatives with competitors that were once unthinkable. At the center of these initiatives are new collaboration brokers, enabling product innovation at scale.
Artificial intelligence (AI) has become one of the most talked about technologies in the retail sector. Here are five ways AI creates a personalized digital experience for customers.