Before we get into the role of artificial intelligence (AI) and where it is set to take digital commerce, I think we should begin by unpacking a definition of digital commerce – what does it mean? It can be defined as the process of selling and buying products and/or services using digital channels. It includes the people, processes and technologies necessary to execute the offering of product, promotions, pricing, analytics, customer acquisition plus retention, and customer experience at all touchpoints throughout the buying journey. This definition can be applied to all sectors of business irrelevant of area of operations, so it includes banking, retail, automotive, etc. Sector is irrelevant in a world of digital transformation at the speed of COVID – all businesses seek digital channels to market their goods. Today, digital channels have been expanded to relate to digital transformation that is inclusive of people, processes and technologies used throughout the customer buying excursion.
Jun-22-2021, 03:45:06 GMT