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

Understanding the challenges faced by consumer electronics brands

Let's start by exploring the challenges of consumer electronics brands to understand why new, innovative, data-driven, and AI-based solutions are needed to drive product success.

Some of the challenges we'll cover include the needs of the connected consumer, the new reality of short-term attention span, the demands of the content consumer, and growing competition from emerging markets.

The needs of the connected consumer

The connected consumer is a recent phenomenon, but one that has become the new normal for consumer electronics. Practically, every consumer now expects to be able to connect to the internet and engage with their technology in some way.

This isn't just about smartphones and tablets anymore. It's about wearables, home automation, and smart speakers such as Alexa or Google Home. All of these devices enable consumers to interact with technology in meaningful ways.