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

Using big data to enable better forecasts

Because AI learns from big data, we can use it to uncover hidden patterns in large sets of data about separate products or entire markets and overcome the biggest challenges with traditional forecasts.

For example, with Commerce.AI, we scan billions of product data points across over 100 sources to find trending product categories, showing product teams what market opportunities are worth pursuing. The following diagram shows some trending product categories that were found using the Commerce.AI data engine. Product teams can select any category to dive deeper and find leading brands, top products, product reviews, and more.

Figure 3.1 – Trending market segments

This data enables insights on specific market categories, as well as larger market segments. For instance, in the preceding diagram, we can see that markets such as computers and accessories, vitamins, and kitchen and dining are particularly large...