AI Development and Trends in E-Commerce

The traditional retail industry is undergoing a significant reinvention and upgrade as more and more brick and mortar stores boost business by adopting e-commerce platforms powered by cutting-edge tech. The recent rapid development and deployment of AI technologies such as machine learning, computer vision and reinforcement learning have enabled new e-commerce products and solutions for various scenarios and strengthened the retail value chain. Alibaba's Taobao and Tmall, Amazon, JD.com); or on a brand's own official web stores (e.g. Thanks to recent advancements in AI and digital technologies, operating costs for e-commerce have been reduced, enabling more retailers to realize e-commerce transformations. The 2018 global retail e-commerce market amounted to US$2.8 trillion and is expected to grow 75 percent to US$4.9 trillion by 2021.