Book Image

AI-Powered Commerce

By : Andy Pandharikar, Frederik Bussler
Book Image

AI-Powered Commerce

By: Andy Pandharikar, Frederik Bussler

Overview of this book

Commerce.AI is a suite of artificial intelligence (AI) tools, trained on over a trillion data points, to help businesses build next-gen products and services. If you want to be the best business on the block, using AI is a must. Developers and analysts working with AI will be able to put their knowledge to work with this practical guide. You'll begin by learning the core themes of new product and service innovation, including how to identify market opportunities, come up with ideas, and predict trends. With plenty of use cases as reference, you'll learn how to apply AI for innovation, both programmatically and with Commerce.AI. You'll also find out how to analyze product and service data with tools such as GPT-J, Python pandas, Prophet, and TextBlob. As you progress, you'll explore the evolution of commerce in AI, including how top businesses today are using AI. You'll learn how Commerce.AI merges machine learning, product expertise, and big data to help businesses make more accurate decisions. Finally, you'll use the Commerce.AI suite for product ideation and analyzing market trends. By the end of this artificial intelligence book, you'll be able to strategize new product opportunities by using AI, and also have an understanding of how to use Commerce.AI for product ideation, trend analysis, and predictions.
Table of Contents (17 chapters)
Section 1:Benefits of AI-Powered Commerce
Section 2:How Top Brands Use Artificial Intelligence
Section 3:How to Use Commerce.AI for Product Ideation, Trend Analysis, and Predictions

Using Commerce.AI for consumer goods brands

As we now know, consumer goods brands are facing greater challenges than ever, and the solutions to these challenges can be found in the data. However, data alone is not enough, and consumer goods brands need to find a way to turn that data into actionable insights.

Let's explore five main ways in which Commerce.AI can be used for consumer goods brands by gaining value from that data:

  • Measuring product attributes and trends
  • Predicting revenue opportunities
  • Analyzing user personas and customer segments
  • Analyzing the customer journey
  • Generating consumer goods product ideas

Let's explore each of these in the following sections.

Measuring product attributes and trends

Product innovation is the best way to grow a consumer goods business. However, many managers struggle with understanding what makes their products different and better, which can result in missed opportunities.

The reasons for...