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.

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Table of Contents (17 chapters)
Preface
Preface
Who this book is for
What this book covers
To get the most out of this book
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Conventions used
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1
Section 1:Benefits of AI-Powered Commerce
Section 1:Benefits of AI-Powered Commerce
Free Chapter
2
Chapter 1: Improving Market Opportunity Identification
Chapter 1: Improving Market Opportunity Identification
Identifying market opportunities the traditional way
Big data challenges in market opportunity identification
Using AI for market opportunity identification
Exploring AI-powered market reports
Summary
3
Chapter 2: Creating Product Ideas
Chapter 2: Creating Product Ideas
Understanding the pillars of AI
Why is product ideation so hard?
Using Commerce.AI for creative AI
Summary
4
Chapter 3: Understanding How to Predict Industry-Wide Trends Using Big Data
Chapter 3: Understanding How to Predict Industry-Wide Trends Using Big Data
Technical requirements
Why traditional forecasts fail
Using big data to enable better forecasts
Gaining value from data-driven forecasts
Summary
5
Section 2:How Top Brands Use Artificial Intelligence
Section 2:How Top Brands Use Artificial Intelligence
6
Chapter 4: Applying AI for Innovation – Luxury Goods Deep Dive
Chapter 4: Applying AI for Innovation – Luxury Goods Deep Dive
Technical requirements
Understanding the challenges of luxury brands
Understanding the data extraction process
Using Commerce.AI for luxury brands
Summary
7
Chapter 5: Applying AI for Innovation – Wireless Networking Deep Dive
Chapter 5: Applying AI for Innovation – Wireless Networking Deep Dive
Technical requirements
Understanding the challenges of wireless networking brands
Analyzing product data for wireless networking brands
Using Commerce.AI for wireless networking brands
Summary
8
Chapter 6: Applying AI for Innovation –Consumer Electronics Deep Dive
Chapter 6: Applying AI for Innovation –Consumer Electronics Deep Dive
Understanding the challenges faced by consumer electronics brands
Analyzing product data for consumer electronics brands
Using Commerce.AI for consumer electronics brands
Summary
9
Chapter 7: Applying AI for Innovation – Restaurants Deep Dive
Chapter 7: Applying AI for Innovation – Restaurants Deep Dive
Understanding the challenges of restaurants
Analyzing product data for restaurants
Using Commerce.AI for restaurants
Summary
10
Chapter 8: Applying AI for Innovation – Consumer Goods Deep Dive
Chapter 8: Applying AI for Innovation – Consumer Goods Deep Dive
Technical requirements
Understanding the challenges facing consumer goods brands
Analyzing product data for consumer goods brands
Using Commerce.AI for consumer goods brands
Summary
11
Section 3:How to Use Commerce.AI for Product Ideation, Trend Analysis, and Predictions
Section 3:How to Use Commerce.AI for Product Ideation, Trend Analysis, and Predictions
12
Chapter 9: Delivering Insights with Product AI
Chapter 9: Delivering Insights with Product AI
Commerce.AI for product concept and development
Product launch
Product management
Summary
13
Chapter 10: Delivering Insights with Service AI
Chapter 10: Delivering Insights with Service AI
Empowering your front line
Managing your locations
Enhancing service offerings
Summary
14
Chapter 11: Delivering Insights with Market AI
Chapter 11: Delivering Insights with Market AI
Analyzing trends and white space discovery
Connecting market shifts to brands, products, and services
Understand market DNA
Summary
15
Chapter 12: Delivering Insights with Voice Surveys
Chapter 12: Delivering Insights with Voice Surveys
Engaging your customers with ease
Improving your offerings
Improving customer loyalty
Summary
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16
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Chapter 7: Applying AI for Innovation – Restaurants Deep Dive

The restaurant industry is notoriously difficult. It's a highly competitive space with slim profit margins, and these challenges have only been exacerbated during the COVID-19 pandemic, in which restaurants are subject to more stringent guidelines than ever before.

The average cost of opening a leased restaurant in the US is $275,000, and only about 20% of new restaurants survive past their first five years. This means that there are many failures, but also many opportunities for those willing to take risks and try new things.

In this chapter, we'll discuss how artificial intelligence (AI) can help overcome some of these challenges. We'll look at how AI can be used to improve operations and increase revenue, all while reducing costs and increasing profits. We'll also discuss how AI can be used to create more engaging experiences for guests in the restaurant industry.

In this chapter, we...

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