Top AI eCommerce News – Apr 26

“Overall, the surplus stock that Otto must hold has declined by a fifth. The new AI system has reduced product returns by more than 2m items a year. Customers get their items sooner, which improves retention over time, and the technology also benefits the environment, because fewer packages get dispatched to begin with, or sent back.” Read full article
“Using structured data – a transformative step to drive discoverability of our vast inventory, insights into supply and demand, pricing trends, among other things – and artificial intelligence, we’re creating a shopping experience that is tailored to each eBay user’s interests, passions and shopping history.”

“As online behaviour among consumers rapidly changes, we’re also building capabilities to meet consumers where they spend the vast majority of their time, including within social networks. We launched eBay ShopBot, an AI-powered personal shopping concierge on Facebook Messenger that helps people find the best deals from eBay’s one billion listings by just chatting with it.” Read full article

Infographic: Top 10 Data Points for AI eCommerce


One of the key challenges of building a business case for a nascent industry such as AI eCommerce is trying to find the data to support and justify your assumptions for lift of: conversion, AOV, revenue and more.
That, combined with a substantial amount of vendor research, has led to the development of this infographic that I’ve titled “Top 10 Data Points for AI eCommerce.”

Also, please take note of the source links. These are the vendors that have produced and published their case study data. If you’re interested, you’ll find even more data and material on each of their sites.


Sources:

AI Infographic from Fortune.com



Here’s an infographic from Fortune magazine with a different perspective on the list of Top 50 AI startups from CB Insights.
“We know that artificial intelligence will soon reshape our world. But which companies will lead the way? To help ­answer that question, research firm CB Insights recently selected the “AI 100,” a list of the 100 most promising artificial intelligence startups ­globally.” Fortune.com

AI Vendor Research: Wacul


Vendor: Wacul
Headquarters: Tokyo Japan
Key Product: AI Analyst
Connect Wacul AI Analyst to your Google Analytics
Receive complete AI analysis on site improvements and conversion recommendations based on your data
No charge for setup and requires less than one minute

The service has tiered pricing, with the cheapest premium version coming in at about US$350. Techinasia.com
Articles about Wacul:
Clients:
JapanKnowledge, FeedForce, Pasona, GMO Cloud, ICOM, Expert

Founders:
Hirofumi Otsu, President & CEO
Yui Kakiuchi, CMO

Data:
Book-Off Online conversion rate up over 120%
Digital Hollywood conversion rate up over 130%
White Essence conversion rate up over 200%
Eikyu-fumetsu.com conversion rate up over 300%
S-Pool Komon Haken conversion rate up over 400%
Nurse De Hatarako conversion rate up over 440%
Differentiator:

AI Analyst by Wacul uses artificial intelligence to evaluate your Google Analytics data and provide recommendations for optimizing your site conversion rate.

Infographic: AI in eCommerce (Visenze)

“Artificial intelligence technologies hold a huge potential for e-commerce automation systems such as inventory management, supply management, price optimization, and other related software. It also turns out that AI can help automate even more tasks and enhance user shopping experience.

Visenze had recently shared a very pictorial infographic about the actual and potential use of artificial intelligence in e-commerce.” View the full infographic and post.