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”

Gartner claims people are warming to AI

“’Four years ago, AI implementation was rare, only 10% of survey respondents reported that their enterprises had deployed AI or would do so shortly,’ said Chris Howard of Gartner. “For 2019, that number has leapt to 37% – a 270% increase in four years. “If you are a CIO and your organization doesn’t use AI, chances are high that your competitors do, and this should be a concern.”

US consumers love online shopping. Hate poorly design carts – Roy Edwards

I love this type of post…it’s a data goldmine.

  • Ecommerce in the US has grown rapidly. In 2017 Americans spent a total of $435 billion shopping online, according to the Ecommerce Foundation. With an annual growth rate of over 15%.
  • Even though Amazon is clearly the leading online retailer in the US with a market share of over 50%, followed by Walmart (14%) and Apple (6%)
    US consumers like to be informed about deals. 96% of shoppers report seeing recommendations while shopping, but only 17% of them find these suggestions relevant.
  • A recent Deloitte Insights survey found that more than 60 percent of shoppers prefer online channels.
  • According to a new Gartner forecast, “Global retail sector technology spending will grow 3.6 percent to reach almost $203.6 billion in 2019, with similar growth rates for the next two years.
  • What US consumers buy online?
    • Fashion (clothes, accessories, shoes) 74%
    • Travel (flight, hotels, tours) 56%
    • Digital goods 48%
    • Entertainment experiences (tickets for concerts) 47%
    • Groceries and consumer packaged goods 47%
    • Furniture 29%
    • Financial products (insurance, loans) 22%
  • 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