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INDUSTRY REPORT 2019 Leading Vendors to the IR Top 1000 E-Retailers

Personalization: Leveraging AI & Machine Learning to Capitalize on In-the-Moment Intent

Personalization: Leveraging AI & Machine Learning to Capitalize on In-the-Moment Intent

Today, more so than ever, you have access to large shopper data sets which enable you to do some pretty cool stuff. Whether it be predictive shopping experiences, augmented reality or chatbots, the smarter the experience, the more relevant and personalized it becomes.

It seems the hottest topic right now consists around how to leverage AI into business initiatives. At Certona we hear this all the time from our clients, but there is a misunderstanding about AI and its benefits. Do you really know what AI is and how you should use it?

Simply saying, “we need to do AI,” quite frankly means nothing (with all due respect 🙂). As Gartner warns in their recent research, Hype Hurts: Steering Clear of Dangerous AI Myths, “Reality: There is no such thing as “an AI.” Enterprises don’t need an “AI.” They need business results in which AI technologies may play a role.”

AI is a means to an outcome. Ask yourself, what is the business goal you’re trying to achieve and what is the most efficient way to achieve it, especially with resource constraints?

So what is AI and how do you leverage it? According to Gartner, “Big data was famously defined through the volume, variety and velocity of the data that organizations found themselves facing. AI can be seen as converting such overwhelming information and data flows into granular insights on which AI-driven systems may take automated actions. Data about customer behaviors and interests might have been overwhelming until advanced analytics strategies could parse them and make them useful, but AI now offers the chance not just to analyze the aggregate, but respond in the particular. Crucially, AI does so in a manner that allows it to contribute to improvements in its own performance.”

AI is not new, it’s been around in the computer science field for years, in fact, you probably use it and don’t even realize it. In retail specifically, AI is used for powering real-time 1:1 product and content recommendations, predictive analytics, virtual assistants and augmented reality.

Certona leverages AI to create sophisticated shopper profiles, in real-time, to predict and present the next best action in their journey. The AI-powered personalization platform ingests big data and uses AI and its subsets to continuously learn about individual shoppers and their preferences to re-rank and re-score the catalog within milliseconds to capitalize on their in the moment intent.

In conclusion, there’s a lot of hype around AI and its capabilities. Don’t get caught in the marketing buzz and sales pitches, educate yourself with the right resources to understand which direction and application of AI is best for your business objectives.

Please feel free to contact us with any questions. We look forward to hearing from you!