Holiday season is good time to put AI to work for e-commerce (Andy Betts)

Gartner expects that by 2021, early adopter brands that redesign their websites to support visual and voice search will growtheir digital commerce revenue by 30 percent.

Shopping cart abandonment is an industry-wide scourge. It’s estimated that upwards of 70 percent of online shopping carts are abandoned before customers complete their purchases.

there’s a correlation between the lack of enthusiasm CMOs feel for their digital performance and the fact that only 36 percent of global marketing decision makers telling Forrester they use AI.

Yet only 7 percent of Chief Marketing Officers (CMOs) surveyed recently by IBM said that their digital transformation initiatives were exceeding their expectations.

The US Census Bureau pegs Q2 e-commerce sales at $127.3 billion, an estimated 9.6 percent of all US retail sales in the second quarter of this year. Online sales, number of orders and overall traffic to e-commerce sites are all up. On average, consumers spend $114.19 per online order

https://www.google.com/amp/s/martechtoday.com/holiday-season-is-good-time-to-put-ai-to-work-for-e-commerce-227678/amp

66% of AI decision makers struggle with finding and acquiring AI talent, and 83% struggle with retention

“The primary encumbrance to this ensuring that AI systems have a quality data set to draw from. The report points to the importance of a mature and well-developed information architecture in order to effectively create and leverage AI in the enterprise.

Naturally, developing an information architecture and the AI systems to leverage it will require human expertise. Forrester cites a talent shortage in this field, indicating that “Two-thirds of AI decision makers struggle with finding and acquiring AI talent, and 83% struggle with retention,” adding that the shortages extend beyond hard technology and science fields, as ‘firms need industry, social, legal, customer experience, and operational expertise to train, manage, and trust AI systems.'”

https://www.google.com/amp/s/www.techrepublic.com/google-amp/article/forresters-2019-ai-predictions-include-automating-20-of-it-support/

AI eCommerce News – Nov 9th

  • “Web traffic on smartphones and tablets will, for the first time, surpass desktop (at 54 percent and 46 percent respectively).
  • Mericle’s points about creating “easy shopping experiences” and “providing a seamless customer journey” are especially important in the ecommerce space, where more and more retailers are leveraging AI-powered customer engagement platforms to create individualized digital shopping experiences.”

  • “Away from kitting the CEO, Adidas used Dreamforce to launch a new AI-enabled shopping app designed to offer a personalized experience for consumers, based on their individual style and buying patterns. To pay for items, customers can tap-to-buy, using a credit card or digitally via Apple Pay or Android Pay.
  • Once a purchase has been made, the customer can track their order, and chat with customer services regarding it. Such chats will intially be with a human being, but within a few months, Adidas will introduce chat bots to handle simple queries, with human intervention only when things get more complicated to deal with.
  • From Adidas perspective, the important thing is that the app’s AI capabilities will learn as it goes. From interaction with a consumer, the app will pick up more and more data about what he or she likes and doesn’t like and start to make recommendations, encouraging upsell opportunities.
  • With the power of the Service Platform and Einstein built in, when you talk to those agents, they’re smarter and more productive than ever before. Einstein bots are transforming the world of service. They are the ultimate helper. Using Salesforce Einstein bots to power their service interactions, Adidas is able to do everything. It is able to handle all those repetitive tasks, those actions, whether you want to make a return, or you want to exchange something.”

  • “AI can predict customer behaviour better than human. It allows companies to create a more personalized experience for customers and better engagement for sellers.
  • Many artificial intelligence systems enable natural language learning and voice input. That means that CRM system can answer to customer queries or solve their problems.
  • AI is going to play a large role in the sales process, through the entire sales process and buyer’s journey.”


  • “Join us on Thursday, Nov. 16 at 2 pm EST/11 am PST for “The Rise of the AI-Empowered Marketer: Engaging Smarter to Grow Revenue,” a free live webinar, where we’ll explore what you need to know about AI for marketing success.”

  • “Research firm, Forrester, predicts that online sales will skyrocket to $459 billion in 2017, totaling 12.9 percent of retail sales.
  • The vast majority of merchants, however, spend a significant portion of their time just trying to figure out how to compete with Amazon. Understandably so, considering that the retail behemoth is poised to garner nearly half of all online sales this year.
  • In an effort to contend, many retailers are trying to set themselves apart by creating deeply personal and highly curated experiences online. Most of these are powered by AI technology.”

  • “Go to any industry conference, blog, meet up, or even just read the popular press, and you will hear and see topics like machine learning, artificial intelligence, and predictive analytics everywhere.
  • Because many of us don’t come from a technical/statistical background, this can be both a little confusing and intimidating.
  • But don’t sweat it, in this post, I will try to clear up a some of this confusion by introducing a simple, yet powerful framework – the intelligent agent – which will help link these new ideas with familiar tools and concepts like A/B Testing and Optimization.”

AI Perspectives – "Have" vs "Have-Not"

“Amplero, a Seattle-based, artificial intelligence marketing technology provider, decided to find out. It commissioned Forrester to conduct a study on attitudes about the use of AI in marketing. Forrester polled 150 North American technology decision makers working at B2C companies.
It turns out the have-nots have a better view of AI than the haves.
For example: 64% of the have-nots believe it can help them identify their target audience. Only 37% think that. Similarly, 63% of the have-nots are convinced that AI can help drive marketing personalization. Only 44% of the presumably sadder and wiser haves agree.
Here are a few more disparities:
  • 53% of the have-nots believe AI will better match campaigns/offers to the correct target. Only 24% of the haves think so.
  • 53% of the have-nots think AI can improve campaign efficiency, vs. 35% of the haves.
  • 51% of the have-nots say AI will drive revenue growth, compared with 36% of the haves.”