Artificial intelligence is no stranger to eCommerce—in fact, retailers have been leveraging the considerable power of AI for years to handle customer requests, streamline inventory, predict consumer trends and more.
But the recent arrival of a new generation of machine learning has proven to be a proverbial retail gamechanger: Generative AI.
In this episode of Impact TV, Disrupting Commerce with Gen AI For the Better, we’re unpacking how this transformative technology is already having a profound impact on retailers’ bottom lines—and on consumers’ lives. Why? Part of the reason could be that unlike previous nascent technologies, Generative AI (GenAI) was made available to the general population—leveling the playing field by putting the power directly into the hands of the people, not just brands.
First rolled out into the market in mid-2023, the benefits of GenAI have been felt directly by end-users rather than being incubated and potentially limited by corporations—and the potential use cases of this revolutionary technology are almost limitless.
According to Forbes, the AI-enabled eCommerce market is projected to reach US$16.8 billion by 2030 —so naturally, online retailers have been scrambling to roll generative AI into their tech stacks.
Just like eCommerce disrupted commerce, AI Commerce—or eCommerce powered by AI—is significantly going to increase convenience,” says Simon James, International Lead and Group VP of Data & AI for Publicis Sapient. “ Therefore my best guess is that it’s going to drive adoption and disrupt eCommerce as we know it Today.”