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)
1
Section 1:Benefits of AI-Powered Commerce
5
Section 2:How Top Brands Use Artificial Intelligence
11
Section 3:How to Use Commerce.AI for Product Ideation, Trend Analysis, and Predictions

Product launch

In the past, product managers had to rely on gut feelings and their own experiences to make the right product decisions. Today, AI is changing this dynamic by providing a more objective way of making product decisions based on data and past interactions.

Let's take a step back and look at how AI is changing the world of products, with a focus on four areas:

  • How AI is changing product launches
  • Predicting demand from early signals
  • AI for the two types of product launches
  • Using AI for product launches—advantages and disadvantages

Let's start off with an overview of how AI is changing product launches.

How AI is changing product launches

Traditional product innovation was built around the interview-centric approach. In other words, product managers assumed that the best way to understand their customers was to spend time with them. This approach has evolved quite a bit over the past few decades. The trend now is toward...