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

Gaining value from data-driven forecasts

Product teams can gain value from any kind of forecast, whether it's a simple Google search that gives you an idea of how popular a certain product is, or something more complex, such as Commerce.AI, which allows you to look at trends based on billions of data points. Let's look at how AI can be used to provide value for product development pipelines, forecasts, and roadmaps. Pipeline refers to a list of all the products currently being worked on by a company or team in its product management system (PMS), such as Jira Software or Trello.

The problem with pipelines is that they can become useless if they do not change frequently
enough to reflect market shifts and changing customer needs. Let's say you have 20 products in your pipeline; however, because the market might shift 2 months into the future, those products may not get shipped by then due to lack of demand. With forecasts from Commerce.AI, you can make sure...