Discover How Generative AI can Revolutionize Ecommerce

you've probably already experienced the
amazing world of generative AI with
applications such as chat GPT and Ali
these technologies have the ability and
the potential to seep into every aspect
of our lives and already there are fears
that AI is going to take our jobs and
move us into a dystopian Futures like
the Terminator all that being said this
brings forth new opportunities in
e-commerce and in this video I'm going
to talk about at a high level what
generative AI is why it's different to
AI used in previous e-commerce
Technologies and what are the
opportunities in e-commerce for
generative AI so let's waste no more
time let's get to it
welcome to the world of generative AI
so what is generative AI generative AI
is a fascinating branch of artificial
intelligence that focuses on generating
new and original content including text
images and video although this
technology has actually been around for
a while it's only recent developments
that's meant that it can be trained on
enormous data sets literally billions of
pages of text what generative AI
effectively does is it takes these
enormous data sets and turns them into
models learning the patterns and
relationships that can help them
generate new outputs generative AI has
found application in art entertainment
design and data synthesis for instance
it can help artists and content authors
in exploring new possibilities and
creating original Works however early
implementations of this technology has
had issues with accuracy and bias and
has been prone to hallucinations and
spitting back weird answers we therefore
need to consider the ethical concerns of
generative AI as well as the misuse of
AI generated content and deep fix going
forward this technology can help with
writing code designing drugs developing
new products redesigning business
processes and transforming Supply chains
in e-commerce artificial intelligence
plays a crucial role but not all AI is
the same traditional Ai and e-commerce
focuses on producing results based on
existing data and predefined rules they
learn from historical data and make
predictions based on what they've seen
before these types of machine learning
models have powered things like product
recommendations fraud detection and chat
Bots generative AI however is a
completely different Beast it's all
about generating new and original
content generative AI models employ deep
learning techniques so that they can
create complex and realistic outputs
generative AI learns the underlying
patterns of the data to generate new
unseen content there are challenges this
technology requires more computational
resources and data to train the models
in e-commerce traditional AI has
transformed product merchandising
customer support and fraud detection but
generative AI has the potential to
unlock New Frontiers around generating
new content that will drive sales and
transform customer experiences
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so let's explore the potential
opportunities that I see that generative
AI brings to e-commerce
opportunity one original product design
and product configurations generative AI
can create new designs new variants and
new collections enabling businesses to
offer fresh and unique products and
product collections that cater to
diverse customer needs opportunity to
personalize customer experiences
e-commerce data and content can be used
by generative AI to build completely
personalized shopping Journeys and
customer experiences based on the
customer's data and preferences
opportunity 3 the automation of content
generation generative AI could be used
to automate the content production
processes helping businesses to produce
far more compelling content for product
descriptions blog posts and marketing
content opportunity 4 Dynamic pricing
generative AI can analyze marketing
Trends competitor pricing customer
Behavior to generate optimize pricing
strategies this means that businesses
can adapt their pricing in real time
maximizing revenue and competitiveness
virtual assistants powered by generative
AI would provide exceptional customer
support throughout the entire shopping
Journey opportunity 6 visual search
instead of relying on text-based queries
generative AI enables visual search
which means you can find products using
an image innovation in generative AI is
accelerating and opening up a whole new
wealth of opportunities even now
Technologies like chat GPT are being
used by professionals and the wide
population it won't be long till we
start to see this AI technology used
alongside existing Technologies to power
our e-commerce customer experiences my
guess is the first use of this
technology will be embedded in existing
applications but later we'll see
specialized uses of this technology
trend on specialist data sets if you
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say thank you you goodbye and I'll see
you next time