Top ecommerce tips: Why personalisation is the sixth sense

“In the age of AI, algorithms and recommendation engines, digital consumers have become used to more targeted and relevant messages so we need to bring this in store too. Personalisation has become our sixth sense.

More than a third of consumers interviewed for the report (38%) said that feeling like the experience was personalised to them made them more likely to purchase something.

The challenge now is to use the data to take the in-store experience to the next level. We need to pull in the best of both worlds, combining the personalisation enjoyed by e-commerce consumers, with the sensory tools that are already starting to lure shoppers back to the high street.”

https://www.google.com/amp/www.netimperative.com/2019/02/top-ecommerce-tips-why-personalisation-is-the-sixth-sense/amp/

‘Hot Skill’ Artificial Intelligence commands huge premium in job market

  • “The demand-supply mismatch is driving up salaries. AI professionals are getting 60-80% hikes while switching jobs, compared with an average of 20-30% in other skill areas.
  • Even an entry-level AI role can command a 70%-plus premium over that of a plain vanilla computer science (CS) engineer,
  • Barik estimates that there could not be more than a quarter of a million AI practitioners and engineers worldwide and the demand would have already surpassed more than a million.”

https://www.google.com/amp/s/m.economictimes.com/jobs/hot-skill-artificial-intelligence-commands-huge-premium-in-job-market/amp_articleshow/67948682.cms

Second Spectrum and L.A. Clippers Select Aws As Official Cloud and Machine Learning Provider of Clippers CourtVision

  • “Today, Amazon Web Services, Inc. (AWS), an Amazon.com company (NASDAQ: AMZN), announced that AWS is now the primary cloud computing, machine learning, and artificial intelligence provider of Clippers CourtVision, the live, augmented game-watching platform created by the Los Angeles (L.A.) Clippers and Second Spectrum, the official video tracking technology provider for the NBA.
  • In addition, Clippers CourtVision will test Amazon SageMaker to build, train, and deploy machine learning-driven stats which will appear on live broadcasts and on-demand NBA game videos.
  • “The combination of cloud computing and machine learning has the potential to fundamentally redefine how fans experience the sports they love,” said Mike Clayville, Vice President, Worldwide Commercial Sales, AWS.”

https://www.google.com/amp/s/www.nba.com/amp/clippers/second-spectrum-clippers-select-aws-as-official-cloud-machine-learning-provider-clippers-courtvision

THE AI TEXT GENERATOR THAT’S TOO DANGEROUS TO MAKE PUBLIC

Image: ALYSSA FOOTE

“In 2015, car-and-rocket man Elon Musk joined with influential startup backer Sam Altman to put artificial intelligence on a new, more open course. They cofounded a research institute called OpenAI to make new AI discoveries and give them away for the common good. Now, the institute’s researchers are sufficiently worried by something they built that they won’t release it to the public.

However, it didn’t take much to get the system to unspool paragraphs that resembled the work of disinformation artists. When WIRED typed in the phrase “Hillary Clinton and George Soros,” OpenAI’s system wrote the following:

‘…are a perfect match, and their agenda appears to be to create a political movement where Soros and his political machine and Clinton are two of the only major players. This is the first time Soros and Clinton have been caught on tape directly colluding in promoting the same false narrative. One of the key revelations in the leaked audio was Clinton’s admission to a Russian banker that she knew about the Uranium One deal before it was approved by Congress. Clinton was shown sharing the same talking points that were originally drafted by a Fusion GPS contractor hired by an anti-Trump Republican donor. The leaked audio is the clearest evidence yet that the Clinton campaign and the Hillary Foundation colluded with Fusion GPS to manufacture propaganda against President Trump.'”

https://www.google.com/amp/s/www.wired.com/story/ai-text-generator-too-dangerous-to-make-public/amp

From virtual assistants to anti-money laundering tech, AI is transforming banking

“PelicanSecure brings together tools that use natural language processing and machine learning to analyse patterns of behaviour to flag up “subtle anomalies” pointing to instances of fraud.

Factors like user location, spending patterns and unusual device configuration are all integrated into Pelican’s detection system.

Describing the role AI has to play in turning the tide against scammers, CEO Parth Desai says: “Traditional fraud detection methods are reactive in nature, meaning if a fraudster came up with a new idea to defraud an organization, the existing rules will fail to prevent it.

“AI, on the other hand, predicts those behaviours and protects against trending and future fraud typologies.

“AI, including machine learning, is unquestionably the future of fraud detection. Financial institutions are shifting towards AI gradually.

‘We believe the industry is still in the launching phase of this technology and that there is a lot more to explore over the course of the coming few years.'”

https://www.compelo.com/banking/analysis/ai-banking/

Artificial Intelligence Is Transforming Digital Marketing And For Good Reason!

Image Source: Pixabay/Afra32

• “85% of the customer interactions will be managed without any human interaction. (Gartner)

• AI technology can help businesses increase the labor productivity by almost 40%. (Accenture)

• 83% of businesses who adopted AI technology before everyone else have driven either substantial (30%) or moderate (53%) economic benefits from AI projects. ( Deloitte)

• 47% of digitally mature organizations, or enterprises with advanced digital practices, claimed that they have implemented a defined AI strategy. (Adobe) 

• 77% of consumers are actually using AI platforms, whereas 33% think they use AI-powered technology. (Pega)

This post also illustrates all of the ways that AI is already impacting our daily lives through our interactions with: Netflix, Amazon, Levi, Disney, Spotify and Sephora.

It also outlines the AI applications from vendors such as: Klevu, Relay 24, Phrasee, Crisp and Pave AI.

To Wrap Up

With the revolution driven by big data and AI, the brands have unleashed a multitude of possibilities to know their customers better. Artificial Intelligence has blessed the businesses with predictive selling, informed buying, enhanced sales-cycle, and data-driven decision making.

Behind all the technological evolution in intelligent marketing, the main driving force is the objective of ensuring a great customer experience and this is going to be the silver bullet for businesses to thrive in the coming years as well.”

http://customerthink.com/artificial-intelligence-is-transforming-digital-marketing-and-for-good-reason/

All eyes on AI!

The customer impact: AI is zooming in on the shopper experience

Computer vision and image recognition are changing the world of retail. At MWC, we will see examples of how cameras can determine what ‘fashion types’ frequent a store, based on peoples’ clothing, gender, age and haircut. The data that is being collected and analyzed helps retailers fine-tune the selection of their stores to customers.

AI isn’t just helping to guide the shopper journey, it is also providing consumers with assistance on how to use products. Imagine a vanity that recognizes what lipstick and powder you put on it. Its intelligent mirror identifies your complexion and the color of your hair and eyes and tells you how to apply them for the best effect – or maybe, recommends you pick something else.

Companies across industries are implementing more and more use cases in which AI technology monitors what users do, allowing the machine to jump right in with help if there is a problem. A large telecommunications provider, for example, uses AI to automatically detect connectivity issues in the customer’s home, contact them and provide immediate assistance.”

https://www.google.com/amp/s/www.techradar.com/amp/news/all-eyes-on-ai

Levi’s generates more than $220 million in direct ecommerce sales

  • “Levi’s generated 4% of its revenue through its online stores in 2018
  • Direct ecommerce revenue grew 18% year over year in 2018, down from 22% in 2017.
  • The brand operates 43 websites in total and drew 180 million visits in 2018.
  • A past example is the “Ask Indigo” bot that used AI to help shoppers find the right style and fit.”

https://www.google.com/amp/s/www.digitalcommerce360.com/2019/02/15/levis-generates-more-than-220-million-in-direct-ecommerce/amp/

Gartner: debunking five artificial intelligence misconceptions

“Gartner says it’s time for business and IT leaders developing AI projects to separate reality from myths to devise their future strategies

Myth #1: AI works in the same way the human brain does

Myth #2: intelligent machines learn on their own

Myth #3: AI can be free of bias

Myth #4: AI will only replace repetitive jobs that don’t require advanced degrees

Myth #5: not every business needs an AI strategy”

https://www.information-age.com/five-artificial-intelligence-misconceptions-123479166/

The State of Machine Intelligence 3.0

Looking Forward

“We see all this activity only continuing to accelerate. The world will give us more open sourced and commercially available machine intelligence building blocks; there will be more data; there will be more people interested in learning these methods; and there will always be problems worth solving. We still need ways of explaining the difference between machine intelligence and traditional software, and we’re working on that. The value of code is different from data, but what about the value of the model that code improves based on that data?

Once we understand machine intelligence deeply, we might look back on the era of traditional software and think it was just a prologue to what’s happening now. We look forward to seeing what the next year brings.”

https://www.oreilly.com/library/view/artificial-intelligence-now/9781492049210/ch01.html