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

Chapter 11: Delivering Insights with Market AI

The marketplace for everything is here and now. Every possible good or service that can be imagined is listed on an online marketplace, from flights to real estate, to concert tickets to old-fashioned manual labor.

It's not just something we read about in the news – it's a new reality. All around us, people are buying and selling goods and services as never before. The same forces of digitization that have democratized access to information also enable marketplaces to become ubiquitous.

It used to take companies years of investment and millions of dollars in revenue before they could even dream of creating a new, profitable product line; now, it takes weeks or months. The barrier for entry into many markets has fallen so low that competition is at an all-time high.

To succeed in this new market landscape, product teams need to be able to identify trends and patterns in their products' data that can inform...