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

Connecting market shifts to brands, products, and services

Now that we've looked at ways to analyze and interpret market shifts from commerce data, let's learn how to connect market shifts to brands, products, and services. We'll look at this connection across two main areas:

  • Gauge positive and negative changes in your product and product category, and respond with speed and efficiency.
  • Recognize, manage, and resolve product risk areas and escalations and develop solutions proactively.

Gauging product shifts

Gauging shifts in the market is hard. How do you know what's happening and how to act on it?

It's not enough to be aware of shifts in consumer demand. You have to be able to act quickly, anticipating what those shifts will mean for your product or service offerings and how you might capitalize on them. By doing so, you can turn an opportunity into a competitive advantage that positions your company for success in the long term.