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

Summary

In this chapter, we've learned how to use AI technologies to gain strategic insights into the market, identify opportunities and risks as they emerge, anticipate shifts in consumer preferences, and reduce the risk of failure. In some cases, market shifts can be good for your business – but they can also present new challenges if you aren't ready for them.

We've explored how Commerce.AI helps firms take advantage of market shifts to create new value propositions and improve the overall health of their businesses. Using AI to gain strategic insights into the market can help companies anticipate change, identify opportunities, manage risks, and even predict how consumers will respond to products before they are launched.

Commerce.AI goes beyond simply validating hypotheses to help teams find product-market fit more quickly by identifying underserved needs in emerging markets and areas of white space within incumbent markets. Enabling product teams to...