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Artificial Intelligence In Retail Is Already Here PYMNTS.com

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Artificial intelligence (AI) is becoming more and more prevalent in almost every facet of people's day-to-day lives, from its ability to defeat world-class chess players to its implementation into self-driving cars. AI is hot, flashy, buzzworthy and is the future of many industries and applications, but many consumers don't realize the subtle way it is already influencing and shaping the world of retail. Thanks to an abundance of consumer data at their fingertips, retailers have slowly and subtly begun rolling out applications for many sectors of the retail industry, everything from using AI to offer better product recommendations, to chatbots that can carry on an (almost) lifelike conversation with consumers and help push them toward checkout, to being utilized in image recognition systems. "The pertinent question isn't necessarily when but where you'll see AI deployed. And the truth of the matter is that AI can benefit essentially every step and process of eCommerce, from site layout to personalization to -- and this part is extremely important -- customer happiness," Andy Narayanan, vice president of visual intelligence at Sentient, an artificial intelligence software provider, wrote for Total Retail in a piece back in July.


How Predictive AI Will Change Shopping

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Imagine you're about to leave the house to pick up your kids. As you grab your keys, you hear a voice from the device on your coffee table: "It looks like you'll use the last of your milk tomorrow, and yogurt is on sale for $1.19. Would you like to pick up an order from Trader Joe's, for a total of $5.35?" You say yes, and Alexa confirms. The order will be ready for curbside pickup, on the way home from your kids' school, in 15 minutes.


What E-Commerce Business Owners Need to Know About Artificial Intelligence

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Artificial Intelligence is the buzzword of the year with immense anticipation and excitement attached to it, but also often a fear of the unknown. So much so, that tech behemoths Facebook, IBM, Google's parent company Alphabet, Amazon, and Microsoft recently announced a partnership to discuss AI best practices. While there are the science fiction-driven angles of AI, like robots, self-driving cars, Internet of Things, and augmented reality, there are also more practical applications that affect business owners every day, especially those working in the virtual customer service world of online retail. Gartner predicts that by 2020, 85% of interaction between customers and retailers will be through artificial intelligence customer service programs. Brands are rushing to build out their customer service approaches leveraging AI to create accurate product catalogs, fine-tuned search capabilities, and truly personalized online experiences.


What E-Commerce Business Owners Need to Know About Artificial Intelligence

#artificialintelligence

Artificial Intelligence is the buzzword of the year with immense anticipation and excitement attached to it, but also often a fear of the unknown. So much so, that tech behemoths Facebook, IBM, Google's parent company Alphabet, Amazon, and Microsoft recently announced a partnership to discuss AI best practices. While there are the science fiction-driven angles of AI, like robots, self-driving cars, Internet of Things, and augmented reality, there are also more practical applications that affect business owners every day, especially those working in the virtual customer service world of online retail. Gartner predicts that by 2020, 85% of interaction between customers and retailers will be through artificial intelligence customer service programs. Brands are rushing to build out their customer service approaches leveraging AI to create accurate product catalogs, fine-tuned search capabilities, and truly personalized online experiences.


5 Ways Artificial Intelligence Is Shaping the Future of Ecommerce

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Not only are online retailers competing with other online stores and brick-and-mortar locations, but also the overall noise that is the Internet. We live in a world where consumer attention span is getting shorter and shorter: 40 percent of people abandon a website that takes more than three seconds to load, and the average shopping cart is abandoned more than 68 percent of the time. I'm hard pressed to find an ecommerce site that is not constantly scrambling to engage more and drive more sales. Technology is finally helping with those efforts in a big way. Artificial intelligence (AI), which has demonstrated its value in industries like marketing, healthcare and finance, is now making a splash in online commerce.