ai eCommerce News – Sept 27

“Ajay Kashyap, co-founder, Boxx.ai told ET, “The engagement revenue has increased by 40% in terms of topline impact with the new version of our product and we will be working on taking this upto 60% soon.” Over the course of this year, Boxx.ai will also look at expanding operations to one more country – it is in the process of finalizing which one—and add more features to its existing product.”
“More retailers are turning to artificial intelligence to help shoppers find clothes that fit their bodies, budgets, and personal styles. As one of today’s hottest technology trends, AI translates vast volumes of retail data into rich, actionable insights so executives can make smart decisions faster.
Whether a shopper’s look is casual chic, vintage-inspired, or haute couture, AI lets them perform easy product searches to find exactly what they’re looking for. For example, AI can help individual shoppers find the perfect pair of jeans by tracking their sales history, online browsing, and Instagram likes to provide a seamless shopping experience.

Here are seven examples of how AI innovations make life easier for fashion companies and fashionistas alike.”

Alibaba AI Helps Mobile Engagement

“It now has 529 million users, up by 22 million more people. The use of AI has improved not only the content provided by Alibaba, but also in how people search for products.
The secret to this is really simple. AI has made product search more precise.

This is done through a variety of ways, from machine learning, deep learning, transfer learning and much more. Computers learn a shopper’s preferences whenever someone would type in the product being searched for.”

AI eCommerce News – Sept 21st

The second reason chatbots and voice assistants are likely to make notable change is that we’re seeing businesses looking to maximize their cost-efficiency by streamlining their operations. Both of these factors combined explain the rise in popularity of AI bots providing the experience of a personal assistant, be it a chatbot or a voice assistant.
Last Christmas, millions of people purchased Alexa products, and sales of Echo speakers increased ninefold. Currently, one in five people would consider making purchases through a bot and would spend an average of £500 ($598.34) using AI to make purchases. Gartner predicts that AI bots will power more than four in five customer service interactions (85 percent) by 2020.
Voice-activated virtual assistants are present in a lot of devices and while their functions overlap, they all have their own isolated and defined ecosystems. But a collaboration between Amazon and Microsoft will not only change that, it will potentially have a big impact on the future of eCommerce.
The collaboration between the companies will allow Alexa and Cortana to talk to one another, giving Windows 10 users the capacity to access Alexa’s skills by giving voice commands to Cortana. Meanwhile, Alexa will be able to assist Amazon Echo users to stay on top of all the appointments and reminders that Cortana has gathered.
It’s just the nature of the business. With all of the excitement surrounding innovative solutions and emerging platforms and hardware, tech developers and consumers, alike, are constantly looking ahead. However, constantly living in the future tense somewhat blinds us to the growth that occurs in certain avenues like ecommerce. According to a study by the International Trade Administration, ecommerce is expected to grow by 30.7 percent in 2017, which is an incredible figure when you think about the scope of the industry.
The ecommerce giant has been ramping up its connected devices portfolio ever since it outed the original Echo smart speaker in November 2014 — a device we dubbed “a tad baffling, but also intriguing” at the time.
The speaker went on to become something of a surprise hit for Amazon, whose prior mobile hardware forays had badly flopped. And while it has never broken out Echo sales figures, it’s clear the idea of a smart speaker has excited huge interest from industry, dovetailing with rising hype around voice interfaces as the next big user interaction shift, as computing becomes increasingly embedded into the environment where it might not be viable (or desirable) to have lots of screens.

AI technology can also help combine the efficiency often associated with online browsing with the immediate access physical stores provide. For example, groceries can utilize mobile apps that would allow clients to check what they need online, scan a barcode, order the products and check them out without having to go through the checkout line. This type of efficiency allows busy shoppers to finish their task with no interruptions and will undoubtedly keep them going back to that store.

Growth, Innovation and Leadership: North America

September 17-20, 2017 | Hyatt Regency Lost Pines Resort | Austin, TX

This must attend event is your opportunity to innovate, grow and thrive amidst today’s digital disruption. Designed to provide clarity on big picture issues, Growth, Innovation and Leadership North America will provide the insight to fuel sustainable top-line revenue growth, create customer value and develop long-term competitive advantage. #FrostGIL

Artificial Intelligence…Defined

Image credit: Wired.com
Q. What is artificial intelligence?
A. It is the science and engineering of making intelligent machines, especially intelligent computer programs. It is related to the similar task of using computers to understand human intelligence, but AI does not have to confine itself to methods that are biologically observable.
August 31, 1955
The term “artificial intelligence” is coined in a proposal for a “2 month, 10 man study of artificial intelligence” submitted by John McCarthy (Dartmouth College), Marvin Minsky (Harvard University), Nathaniel Rochester (IBM), and Claude Shannon (Bell Telephone Laboratories). The workshop, which took place a year later, in July and August 1956, is generally recognized as the official birthdate of the new field.
The proposal defined what its authors meant by “artificial intelligence”:

An attempt will be made to find how to make machines use language, form abstractions and concepts, solve kinds of problems now reserved for humans, and improve themselves. … For the present purpose the artificial intelligence problem is taken to be that of making a machine behave in ways that would be called intelligent if a human were so behaving.
Definition of artificial intelligence
1 :a branch of computer science dealing with the simulation of intelligent behavior in computers
2 :the capability of a machine to imitate intelligent human behavior
  • Artificial intelligence is a computerised system that exhibits behaviour that is commonly thought of as requiring intelligence.” (3)
  • “Artificial Intelligence is the science of making machines do things that would require intelligence if done by man.” (4)
  • The founding father of AI, Alan Turing, defines this discipline as:
    • “AI is the science and engineering of making intelligent machines, especially intelligent computer programs.” (5)

Super-shopper chat bots poised to disrupt e-commerce – Beerud Sheth

  • “These intelligent bots will be hyper-rational shoppers”
  • “Shopping bots can visit hundreds of merchant bots to find the best product or price”
  • “Bots will render dynamic pricing algorithms irrelevant”
  • “Bots may help the user transact anonymously”
  • “Bots will diminish the value of customer loyalty”

“The very nature of the shopper is about to change: the new customer is a super shopper, an economically rational actor with practically infinite information, memory and compute capabilities. They will not care about convenience or selection – they can take care of it themselves. The only way to appease them will be to deliver better quality or price.”

Levi Virtual Stylist + "Stop pretending you really know what AI is" (John Pavlus)

Image credit: www.multichannelmerchant.com

“The virtual stylist, which is powered by mode.ai and personalized fit data from TrueFit, provides the in-store expertise in the hands of every consumer.  It is built with the help of artificial intelligence.  Users are able to receive fashion advice throughout the site, on either their mobile devices or laptop.”
  • “Artificial intelligence (AI) is the general label for a field of study—specifically, the study of whatever might answer the question ‘What is required for a machine to exhibit intelligence?’”
  • “If that doesn’t sound very satisfying, the experts don’t disagree. ‘At this point, AI is an aspirational term reflecting a goal,’ Darrell says. What he means is that “AI” isn’t, technically speaking, a thing. It’s not in your phone. It isn’t going to eat the world or do anything to your job. It’s not even an “it” at all: It’s just a suitcase word enclosing a foggy constellation of “things”—plural—that do have real definitions and edges to them. All the other stuff you hear about—machine learning, deep learning, neural networks, what have you—are much more precise names for the various scientific, mathematical, and engineering methods that people employ within the field of AI.”
  • Great read…be sure to checkout his full post

ai eCommerce News Sept 4th

Image credit: eweek.com

Alexa-Cortana Deal to Boost AI and Voice-Enabled Commerce Markets

“The Aug. 30 announcement by Microsoft and Amazon that they will enable their respective virtual assistant technologies, Cortana and Alexa, to talk to one another, is being regarded by industry experts as the first crack in the wall that separates today’s leading virtual assistant technologies.” 


“‘Alexa enables a set of defined skills for specific use cases and Cortana is designed to be a voice interaction interface’ for finding and retrieving information. Together, Cortana and Alexa will push the boundaries of what voice-enabled AI can do beyond what each platform can do alone.”

“Russian retailer Lamoda’s use of Dynamic Yield resulted in a $15 million uplift in gross profit, a staggering 35-times return on their investment in the platform. The company built over 160 unique audience segments, and delivered unique experiences to each in the form of segment-specific coupons and personalized category pages.”

“Perhaps not surprisingly, Rajan believes deep learning still has much more to offer the ad industry. For example, it could figure out long-term cause and effect relationships between what you see or do online today and what you click on or buy next week. ‘Being able to model the timeline of user interest is something that the deep models are able to do a lot better,’ she says.”