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

Using Commerce.AI for consumer electronics brands

As Commerce.AI runs the world's largest product data engine, there's a whole host of opportunities for consumer electronics brands to become more innovative. Let's explore how to use Commerce.AI to better understand product positioning, analyze the consumer electronics market, improve research initiatives, generate product ideas, and more.

Understanding product positioning

Understanding product positioning is critical for understanding the market potential for any given product. The following diagram shows how the Commerce.AI positioning chart can be used to understand where the different products stand in their market space by comparing their sentiment scores (vertical axis) and Number of reviews (horizontal axis):

Figure 6.1 – A product positioning chart mockup comparing sentiment and number of reviews

In the case of a camera, for instance, an entry-level point-and-shoot model may...