What the numbers say: 70% of U.S. and European executives surveyed by SearchNode believe that artificial intelligence (AI) will help their e-commerce businesses improve personalization. 54% of respondents believe AI will enhance site search functionality, while 52% expect it to improve forecasting. Relevance: Global corporate investment in AI reached $93.5B in 2021, according to Stanford University. Generative AI has become a leading trend in e-commerce since Open AI released Chat-GPT in November 2021. Machine learning and large language model (LLM) technology enable generative AI to interact with humans and adapt to their behavior. These interactive user-centric capabilities lend themselves to applications related to personalization. What's next: Amazon has begun testing an AI tool that summarizes products using reviews from other customers. The move comes after Shopify released Shopify Magic, a feature that writes product descriptions based on user prompts. |
