In recent years, there has been a hype around artificial intelligence and machine learning in eCommerce. After initial scepticism about a new technology they didn’t understand, retailers have started to embrace the benefits AI provides for eCommerce, and the demand for AI-powered solutions has become the norm.
Not only does AI automate previously tedious tasks of drag-and-drop merchandising and setting if-this-then-that rules, but it can achieve levels of relevancy that humans cannot keep up with. In addition, AI can help replicate the in-store customer experience online, and provide users with the one-to-one personalised product discovery targeted to their individual preferences.
But not all AI is created equal, and there are still misconceptions and limited understanding of the technology and terminology. Most modern machine learning approaches need a large amount of data to work and only start delivering relevant results after a certain time. However, eCommerce data is extremely sparse and product catalogues keep changing, making it hard for big data models to provide relevant results for e-commerce.
In our webinar AI in practice – How AI increases e-commerce conversions we will discuss:
- The difference between AI and machine learning
- Current challenges for e-commerce that can benefit from AI
- How Loop54's machine learning technology addresses these challenges
Jessica Egman - Founder of J.E Digital strategy and CMO at SoffaDirekt
Mike Odin - Head of Research & Development at Loop54