New Report on ai eCommerce from BI Intelligence

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AI in E-Commerce

There's a new report out from Business Intelligence titled - AI in E-Commerce. Here are a couple of the attention grabbing notes:

• Using AI to personalize the customer journey could be a huge value-add to retailers.
• Retailers that have implemented personalization strategies see sales gains of 6-10%, a rate two to three times faster than other retailers, according to a report by Boston Consulting Group (BCG). 
• It could also boost profitability rates 59% in the wholesale and retail industries by 2035, according to Accenture. 

7 Examples of AI in Retail and e-Commerce (Nanalyze)

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7 Examples of AI in Retail and e-Commerce

Our friends at CB Insights have developed a new infographic titled “Artificial Intelligence in Commerce Market Map.” As usual, they’ve done a really nice job, and I’ve discovered a few new companies that I’ll review in the coming weeks. 

I know it’s extremely difficult to include every vendor in the ai eCommerce space; however, there were a few missing that I expected to see: Sentient, BoomTrain, Cloud-IQ, LiftIgniter, Neowize, WACUL, Apptus. Check out this post with infographic that I wrote in April titled “Top10 Data Points for AI eCommerce.” 

Here are a few key points from the post:

• "Proving once again that there isn’t a space that can’t be reshaped by AI, our friends at CB Insights mapped the startups disrupting retail and e-commerce using artificial intelligence (AI). Syncing online and real-world inventories is just the tip of the iceberg when it comes to converting retail to a 21st-century endeavor. The applications are broad enough, in fact, that CBO’s map covers 11 different categories."
• "The Baymard Institute was nice enough to compile the average of 37 different studies on shopping cart abandonment and found that 69 percent of shoppers did not complete the purchase in their cart. That is a problem hungry for a solution."
• (Granify) "The company promises its customers an incremental revenue gain of 3 to 5 percent within 90 days. "
• (Reflektion) "By modeling millions of users every day and predicting with high confidence what customers will do next, the software responds to real-time individual shopper intent, increasing conversions and revenue by +20%."