The Growth of Artificial Intelligence in eCommerce – Branex.com

  • “AI is now also improving the online shopping experience for consumers as well as retailers like most other fields. But exactly how it is doing so, what is the speed of its growth and what are the challenges that we may face are the burning questions. Most retailers are already using AI into their ecommerce processes from virtual assistant chatbots to customized shopping experiences.”

Infographic: Chatbots & Customer Experience (Blake Morgan)

  • “Some predict that bots are the new apps…Consumers are overwhelmed with apps, and they prefer to converse on the messenger apps they’re already on. If you think about it this is a natural progression, considering that messaging is the root of all mobile communication. 50% of U.S. mobile users haven’t downloaded an app in the last year, but billions of people are already using messaging apps.”
  • “One of the reasons the chatbot has so much potential for businesses is its ability to scale. In 2016, 1.6 billion people used mobile messaging apps. That number is expected to reach 2 billion people, or 80% of all smartphone users, in 2018.” 

Click for full infographic and post.



Infographic: The Current State of Machine Intelligence 3.0

This is an infographic developed by ShivonZilis.com titled The Current State of Machine Intelligence 3.0. Also, be sure to read the associated post. Here are just a couple of my favorite quotes:
  • “We’ve had a few people tell us that the biggest predictor of whether a company will successfully adopt machine intelligence is whether they have a C-Suite executive with an advanced math degree. These executives understand it isn’t magic—it is just (hard) math.”

  • “Then, if you do understand how this technology can supercharge your organization, you realize it’s so valuable that you want to hoard it. Businesses are saying to machine intelligence companies, ‘forget you selling this technology to others, I’m going to buy the whole thing.'”

Infographic: Current State of Artificial Intelligence

“The basic premise of Artificial Intelligence (A.I.) was originally that human intelligence is predictable enough that it can be simulated with computers. As such, A.I. is a broad field involving many areas of research. This includes computer vision, language recognition, decision-making.
In more recent years, A.I. has also acquired other challenges including machine learning/ deep learning, as well as robotics as a whole. In fact, if you were to ask the average person what they thought of when someone mentions “artificial intelligence,” it’s likely they would say “robots” — thanks to pop culture: TV shows, movies, comics, books and toys.”

Artificial Intelligence
Source: BestComputerScienceDegrees.com

Infographic: Top 10 Data Points for AI eCommerce


One of the key challenges of building a business case for a nascent industry such as AI eCommerce is trying to find the data to support and justify your assumptions for lift of: conversion, AOV, revenue and more.
That, combined with a substantial amount of vendor research, has led to the development of this infographic that I’ve titled “Top 10 Data Points for AI eCommerce.”

Also, please take note of the source links. These are the vendors that have produced and published their case study data. If you’re interested, you’ll find even more data and material on each of their sites.


Sources:

Infographic: AI in eCommerce (Visenze)

“Artificial intelligence technologies hold a huge potential for e-commerce automation systems such as inventory management, supply management, price optimization, and other related software. It also turns out that AI can help automate even more tasks and enhance user shopping experience.

Visenze had recently shared a very pictorial infographic about the actual and potential use of artificial intelligence in e-commerce.” View the full infographic and post.

Chatbot AI: What, Why, How…Don’t get left behind

Chatbots are one segment of AI (artificial intelligence) that I haven’t written much about thus far, but it’s an exciting and interesting area. For starters, we should begin by answering the question, “What is a chatbot?” To assist, I’ll share this article on newatlas.com by Emily Ferron titled, “Mobile 101: Whatare bots, chatbots and virtual assistants?” It does a nice job of laying the foundation and describing bots and chatbots.

Also, to better understand where chatbots fit within AI, I’d recommend this article/graphics on the site thinkgrowth.org by Mimi An titled, “Artificial Intelligence and You: Demystifying the Technology Landscape.” They’ve plotted the elements of AI based upon the intersection of Sophistication and potential for Mass Adoption. This article has tremendous content…be sure to check it out.
Now, let’s tackle the question of the best use-case for a chatbot. There are many potential applications, but my favorite is…customer service. Why…you ask? The current state of AI and chatbots is eerily similar to beginning days of the mobile.
If you re-wind the clock 9 years, I was a VP and product manager for Huntington Bank based in Columbus Ohio. We were at the fore-front of developing the earliest mobile banking solutions nationwide. In fact, here’s the announcement in a blog post title, “Huntington Mobile Banking” that I shared on June 30, 2008 on my Mobile Banking blog. So, how do you think we built our very first business case for mobile banking? That’s right…customer service. Our goal was to reduce the number of expensive calls being fielded by live agents for basic information such as, “Has my direct deposit posted?” And most importantly…it worked. We were able to drive a 30% reduction in calls for the use-case segments that we built into the solution, and achieved our 12-month user goals in a fraction of the time.
To help re-inforce this point, I like the article posted on venturebeat.com titled “What to do about the chatbot dilemma.” In this article Tobias Goebel does a terrific job of building the case for using chatbots to aid with customer service and credits the Facebook CEO by saying, “You could argue it started in April 2016, when Mark Zuckerberg introduced Businesses on Messenger at F8 by saying: ‘I don’t know anyone who likes calling businesses.’”
So, to recap, we now understand what a chatbot is, a beginning use-case, a supporting quote from an industry leading CEO, and some broad strokes of how to construct a business case. The only thing left to do is actually build your chatbot…and I have some potential tools to help you with that as well.

This is an article by John Rampton on entrepreneur.com that is titled “Top 10 Best Chatbot Tools toBuild Chatbots for your Business.” I’ve used a few of these tools but many of the others I have not yet vetted. As with anything, each tool has pros/cons and you’ll need to evaluate each within the framework of your business and what you’re looking to accomplish.

Finally, be sure to check out Botlist if you’d like interact with some bots currently in the market to get your creativity flowing.