AI TOOLS
FOR
COMMERCE
Managing Business Activities
Use OF AI IN COMMERCE
AI allows ecommerce businesses to understand customers better and identify new trends. It can analyze customer engagements across POS channels and offer insights for optimization as more consumer data becomes available.
Machine learning can help your business identify and reduce customer churn by predicting when customers might be on the verge of leaving your platform. First, AI can pull data on customer churn indicators such as abandoned carts, browse abandonment, or website bounce rate. Then, you can automate purchase completion emails, loyalty discounts, and follow-up abandoned cart inquiries, making it easier to encourage customers to complete the purchase process.
SOME AI TOOLS
Shopify
AI
DYNAMIC
YIELD
SLYCE
Salesforce
COMMERCE
CLOUD
EINSTEIN
SENTIENT
TECHNOLOGY
SHOPIFY Ai
Shopify AI uses smart technology to help online stores. It studies data, predicts trends, and does repetitive tasks automatically. Shop owners now have more time to focus on major tasks and show their creativity. Businesses can work smarter, not harder, with Shopify AI, which makes it simpler for them to stay relevant in the competitive market.
With Shopify AI as their reliable companion, retailers can safely manage the constantly changing e-commerce landscape by leveraging insights and efficiencies that were previously thought to be unachievable. It is a beacon guiding the way to unmatched success in the digital economy, not just a tool.
SLYCE
Slyce: Slyce is a visual search platform specifically designed for retail businesses. It enables users to upload images or take photos to find similar products from the retailer's catalog. Slyce also offers augmented reality features for virtual try-on experiences.
Visual search technology has come a long way since its inception, transforming the way customers shop and interact with brands online. As the e-commerce landscape continues to evolve, visual search will play an increasingly pivotal role in delivering personalized, efficient, and engaging shopping experiences.
SENTIENT TECHNOLOGY
Sentient Technologies is an AI company that got its start using artificial intelligence and machine learning to automatically manage a hedge fund’s market positions.Sentient uses a combination of deep learning, bayesian techniques, and evolutionary algorithms at massive scale to create products that drive meaningful ROI. Sentient’s first focus was on using its AI platform to build an autonomous hedge fund where AI traders could manage positions in a fund. Sentient has also gone on to use its AI platform to conduct research in areas like healthcare and agriculture as well as launch two digital commerce products, Sentient Aware and Sentient Ascend, that focus on helping companies improve their customer experience and increase conversions.
DYNAMIC YIELD
Dynamic Yield collects user data through multiple channels, such as websites, mobile apps, emails and more. This data includes information about the user’s browsing, interactions with the site, demographics, purchase history, geographic location and any other relevant information.Once the data is collected, the platform uses advanced algorithms and real-time analytics to process this information and understand each user’s behavior and preferences. This allows Dynamic Yield to segment users into groups based on their characteristics and behaviors.Based on user segmentation and data analysis, Dynamic Yield can create personalized experiences in real time for each user. This includes content personalization, product recommendations, special offers and specific messages that are displayed to each user on an individualized
The platform also allows companies to perform A/B testing and experiments to evaluate the effectiveness of customizations. This means that companies can test different approaches and strategies to determine which ones work best and adjust their campaigns accordingly.
Dynamic Yield continues to collect data and adjust customizations based on real-time user behavior. This ensures that experiences remain relevant and effective as user preferences and behavior change.
SALESFORCE EINSTEIN
Salesforce Einstein for Service is a generative AI tool that can be used to improve customer service and field service operations. It can help to improve customer satisfaction, reduce costs, increase productivity, and make better decisions.
Commerce Cloud Einstein is a generative AI tool that can be used to provide personalized commerce experiences throughout the entire buyer’s journey.
It can be used to generate auto-generated recommendations, content, and communications that are based on real-time data from the Data Cloud. This ensures that the recommendations and content are relevant and timely.