If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Bengaluru-based food delivery major Swiggy is looking to incorporate artificial intelligence (AI) -driven speech recognition models for its call centre process. The company has partnered with BPO and social enterprise IndiVillage to power the platform's broader AI and machine learning (ML) charter. This engagement will also include voice annotation work that provides training data for Swiggy's ML algorithms. Swiggy, in its press statement, explained that there is a need to efficiently extract information from the call data when a call centre service executives move from one call to another. This will help the executive understand the'voice of the customers' to enable a deeper understanding of the issues faced by customers and accordingly solve for the same.
In many separate arenas of the world of technology, COVID-19 has been the great accelerator. Cloud computing is perhaps the most obvious example, with the pandemic inducing heavy reliance on remote collaboration and communication tech; a surging interest in cybersecurity solutions is another; mandates for social distancing has also rendered traditional forms of commerce impractical and given rise to the ubiquity of eCommerce. B2B commerce has gone truly digital in the wake of the pandemic, and it's changed processes and behaviours for those on both sides of transaction – perhaps for good. "All of a sudden, you don't have the ability to have field reps out there, interacting with customers face to face," says PROS A/NZ managing director David Bray. "For a lot of organisations, it's limited their ability to be able to do things through call centres easily because their workforce had to move to work from home. "[There's been] a huge shift towards looking at how to use the eCommerce as part of a broader B2B engagement." Such a large shift requires an overhaul in the ways in which B2B organisations and their salespeople approach their role. It's no longer adequate to rely on in-person meetings with customers, lunches with clients or other physical events – salespeople must virtualise their role, and that requires the right tools. Buyers have taken full control of the buying process in this new virtual model of commerce, and this means the B2B seller has to step their game to earn customer loyalty by engaging with those customers where, when and how the customer wants. The key to this is AI. "B2B organisations that are selling typically have a large number of products and a large number of customers," says Bray. "With that comes a massive amount of data, and the challenge is to effectively use this data in real-time to provide a relevant experience to buyers.
Businesses can safely re-open by accelerating digital transformation with stronger emphasis on expanding their distributed business models and digital connections. Companies of all sizes are understandably desperate to get back to work. The prevailing blueprint for doing so seems to be one of adapting pre-COVID norms in the short term to account for the virus, using social distancing, masks, staff shifts or schedules, etc., on the assumption that a widely available vaccine will sooner or later herald and enable a full return to those norms. But will the Next Normal really just be the Old Normal plus protection? And even if it's possible to do so, should companies really aim to return to the status quo?
You have all heard the alarming cries, "Robots are coming for our jobs!" The answer is yes, and no. With Open AI releasing its avant-garde pre-trained language model -- GPT-3 has suddenly become an obsession for the machine learning community, where it can not only generate codes but also human-like stories. Along with its wide range of utilities, it has also surprised the developers and programmers with its generalised intelligence, which is relatively more advanced than the previous pre-trained language models. Artificial Intelligence (AI) can analyze large amounts of data (Big Data) and recognize patterns in that data.
The more online customers the more eCommerce sales that bring the competitive environment that becomes most challenging especially for the marketers. To be on the competitive edge one should need to find the eCommerce trends by traveling all around the digital marketing world where your products or services promotion can take off effectively. The AI Chatbots helps in replacing human activity and give great customer experience via a live chat interface. Moreover, the retailers can find in-depth business insights with the involvement of Artificial Intelligence that gives accurate results and they can target millions of customers. The video popularity increasing and the brands are showing interest in creating the video content much more.
Imagine buying a dress online because a piece of code sold you on its'flattering, feminine flair' -- or convinced you'romantic floral details' would outline your figure with'timeless style'. The very same day your friend buy the same dress from the same website but she's sold on a description of'vibrant tones', 'fresh cotton feel' and'statement sleeves'. This is not a detail from a sci-fi short story but the reality and big picture vision of Hypotenuse AI, a YC-backed startup that's using computer vision and machine learning to automate product descriptions for ecommerce. One of the two product descriptions shown below is written by a human copywriter. The other flowed from the virtual pen of the startup's AI, per an example on its website.
According to a study conducted by EAE Business School at the beginning of Spain's lockdown, 30 percent of Spanish consumers indicated they would do more shopping over the Internet as a result of the COVID-19 pandemic. The data also reveals that during the first three months of the pandemic, 4 percent of these consumers were new to online shopping in general and 8.3 percent used online shopping for the first time to buy food products. How this change in consumer buying habits evolves will depend largely on the shopping experience that customers encounter as they emerge from lockdown. To improve the experience, brands will have to work on core strategies such as understanding their clientèle, identifying their preferences and needs, establishing relevant communication with them, and providing transaction facilities. This is where the techniques behind artificial intelligence can become important business allies. Artificial intelligence is the technology that will have the greatest impact on ecommerce in the years to come.
While the whole planet was frozen by the coronavirus pandemic, offline stores found they couldn't compete with even the smallest online stores when people's lifestyles were limited by their homes or neighborhoods. But those who have just started online sales this year will quickly find out what to do to sell efficiently on the internet. This is why the overall competition will rise. Wondering how you can gain a foothold at this moment? Take a look at modern technologies – artificial intelligence (AI), machine learning (ML), and big data analysis.
As evidenced by the COVID-19 crisis, e-commerce has become an integral part of our everyday lives. This migration to the digital world has caused organizations to ask themselves several questions, mainly, how do we monetize our digital content, and how do we do it effectively? One solution is to bring an artificial intelligence (AI) and machine learning (ML) driven shoppable media experience to the consumer. This type of solution enhances the customer's shopping experience by converting static media content to a dynamic interactive and shoppable media experience that truly engages the customer and reduces buyer resistance and increases electronic cart size, and thus, sales. As we all know, innovative concepts and technology enhancements vastly improve the consumers' shopping experience.