AI AND SHOPPING HABITS
Created on February 27, 2022
02. WHAT IS AI?
05. SHOPPING HABITS
06. AI IN MARKETING
04. AI LIMITATIONS
07. RESULTS OF AI
03. AI ADVANTAGES
“Everything we love about civilization is a product of intelligence, so amplifying our human intelligence with artificial intelligence has the potential of helping civilization flourish like never before – as long as we manage to keep the technology beneficial”
- Artificial Intelligence (AI) and Machine Learning (ML)
- Reduced human error
- Risk avoidance
- Replacing repetitive jobs
- High cost of creation
- No emotions
- Box thinking
- Can't think for itself
- Efficent self-service for help seeking customers
- Content tailored to the customers' needs
- Increased efficiency of customer support agents
- Enhanced data-driven suggestions for customers
- More time to innovate on customer experience
AI in marketing may feel more science fiction than fact to many, but it’s not a far-off concept; it’s here right now. According to Salesforce, just 29% of marketing leaders used AI in 2018, but that number surged to 84% by 2020. And by the end of 2021, global spending on artificial intelligence hardware, software, and services is expected to exceed $340 billion, per a forecast from IDC.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets.
Starbucks is one example of a brand using its loyalty card and mobile app to collect and analyze customer data. They announced plans for personalization back in 2016.
Since then, they’ve built quite the app experience. It records the details of purchases, including where they are made and at what time of day. Starbucks uses predictive analytics to process this data and serve customers with personalized marketing messages. These messages include recommendations when a user approaches a local store and special offers to increase the customer’s average order value.
Amazon created the Just Walk Out Technology, that eliminates the need to have cashiers (and annoying lines) in the store. To experience this kind of shopping, customers only need the Amazon app and account.
The flow looks like this:
- When shoppers turn up in a store, they need to scan the “In-Store Code” with the Amazon app.
- Shoppers then pick products from their list just like in any other store.
- At this moment, sensors enhanced by computer vision technology identify products taken from the shelf and track them in the cart.
- When shopping is finished, customers are free to go out with no additional actions – they get charged later through their Amazon account.
AI can provide the speed and scale necessary to facilitate thousands of customer interactions, and ML can allow marketers to ensure that the products, services and communications remain relevant for each customer throughout those interactions.
We are living in a world where automation and continuous development are a new reality. The rise in application/usage of Artificial Intelligence has opened doors for numerous opportunities that were once beyond imagination.
- sprintzeal.com /blog , AI and Consumer Buying Behaviour – Future of Marketing
- Future of life institute
- Grazitti Interactive , marketing for digital natives , The Impact of AI & ML on Marketing
- get smarter.com /blog , How AI Is Affecting Advertising and Marketing
- CHI software developement center Artificial Intelligence in the Retail Industry: Improving Shopping Experience
- INTELLIPAAT /blog , what is artificial intelligence
- Artificial intelligence marketing - Wikipedia
- The store front /blog , how ai and ml are powering the retail experience
- ONPASSIVE, artificial intelligence
Thanks for you attention!