ai eCommerce News – Oct 25

Image credit: Norcal.news
  • “Artificial intelligence may be your lifeline in the lead up to Black Friday’s sheer madness. No matter how good you are at multitasking or marketing, there’s no way to keep track of all of the consumer data that determines whether people are likely to convert. This doesn’t mean, however, that the relevant information doesn’t exist. You just have to increase your capability to process it all.
  • AI tools like Sentient Aware augment your outreach power in a few crucial ways, including
    • Collecting information about users from the instant they interact with your omnichannel brand footprint,
    • Integrating performance data to help you understand the pain points associated with using your pages, such as slow load times,
    • Segmenting your visitors by device to discover whether you could be doing more to accommodate busy consumers”

  • “The greatest challenge facing Box in its AI push could prove a variation of the “garbage in, garbage out” problem. In that challenge, algorithms trained on low quality data sets learn bad insights – they spot patterns or make inferences that are incorrect, limited by the quality of the information available. Box will face a similar challenge by outsourcing the machine learning and AI tools in its platform, says Gartner analyst Darin Stewart. Quality and capability could vary widely working with third parties, he says, adding that Box will need to carefully monitor what it chooses to expose to customers. Box is also not alone in pushing into AI among content management players, says Forester Research analyst Cheryl McKinnon. ‘AI and machine learning will be the big area of disruption in 2018 – so the ability to move quickly and deliver real value to customers will be key.'”

  • “Amazon has announced it will open a research center in Germany that’s focused on developing artificial intelligence to improve the customer experience. Amazon wants to create over a hundred high-skilled jobs in machine learning at this new Amazon Research Center.
  • The goal of the new research hub is to use artificial intelligence (AI) so the ecommerce company can better understand visual data and, as a result, improve the customer experience across the different products and services Amazon has to offer, such as Amazon Web Service and its AI assistant Alexa.”

  • “At Pinterest, Fan has led efforts to launch products like Lens, a computer vision-powered tool for image searches and ecommerce, and Shop the Look, which also made its debut earlier this year. Shop the Look places a blue dot on images that, when clicked, displays recommendations of similar items available for purchase.
  • “From the baseline, we noticed that merchants that are part of a partnership for Shop the Look, they’ve seen double clickthrough-rate to ecommerce sites and 2 to 6 times engagement on Pinterest of their product,” she said.”

  • “Walmart.com is bigger than you might think. The site has 60 million items for sale, Walmart CTO Jeremy King said at the VB Summit in Berkeley, California today.
  • That’s up from 700,000 items when he joined Walmart in 2011, and it doesn’t include Jet.com, the ecommerce site Walmart acquired last year. Online sales have also made notable gains: The company reported a 67 percent year-over-year increase in quarterly online sales for the three months ending in June of this year. (That revenue growth was helped by Walmart’s Jet acquisition, though the company said the majority of its gains were organic.)
  • The secret to the expansion in inventory, said King, is artificial intelligence.”

  • “Kroger has revealed a new initiative, dubbed Restock Kroger, that aims to build out its e-commerce and omnichannel businesses, Internet Retailer reports. Kroger is the second-largest grocer in the US, and appears to recognize that a revamp of its digital options is in order if it’s to maintain that position. The initiative is expected to cost $9 billion over the next three years.
  • This is part of Kroger’s ongoing effort to provide quality online and omnichannel grocery options. Kroger had already planned to expand its online grocery pickup offering to 1,000 stores by the end of 2017, and has acquired multiple retailers with e-commerce value, as well as several technology companies. With online grocery projected to account for 20% of all grocery by 2025, Kroger is likely trying to position itself as a viable grocer both online and in-store.”

  • “By now it is a statement of fact that automation will take a hefty 30 percent bite out of the sector’s workforce of around two million while largely preserving the profit margins of these companies.
  • Almost all of them — Infosys, Wipro, TCS, Cognizant — have slashed jobs in India and are hiring less in the country while snapping up more workers in the US and investing large amounts of money there in “centers of innovation.” The hot new areas of AI and data sciences require fewer bodies and are mostly found overseas so this isn’t helping the prospects of domestic tech employees.”

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