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

Clearly, AI has the potential to radically improve the quality and speed of market opportunity identification.

But it's not just about finding better ways to do what researchers have always done or even automating tasks. Instead, AI can help us see new opportunities that we never could have uncovered before.

In a traditional BI environment, analysts must sift through hours of data on thousands of companies in order to identify promising new targets.

With an AI solution built around unstructured data sources (such as text documents or images), this task becomes straightforward; an AI system can simply scan millions of documents for identifying keywords or patterns and then provide recommended matches with commercial significance.

Commerce.AI is one of many advanced technologies available to product teams. It uses a range of machine learning techniques to find insights based on structured and unstructured data.

Understanding market opportunity identification is important for product teams to lay the groundwork for the product development process. Traditional methods have been in place for generations, and are still relevant today, while AI-based methods can give teams a competitive advantage. This understanding is crucial for the upcoming chapters, as product development should be based on a deep understanding of the market. Moving on from this understanding, we'll dive deeper into topics such as building, selecting, and iterating product ideas.

In the next chapter, we'll explore how the product creation process can be improved with AI.