OpenAI, an American start-up, developed speech artificial intelligence (AI), making it freely available to the public. As a result, ChatGPT is the largest, most widely spread, and best available language learning model in the history of artificial intelligence.
ChatGPT can be used either for professional or personal use. Some of the primary benefits of ChatGPT include writing and debugging code, copywriting, creating websites, creating newsletters, writing resumes and cover letters, producing simplified summaries of the text, writing jokes, songs, and poems, chatting, and drawing up contracts and legal documents.
The global artificial intelligence market size is estimated at $119.78 billion, as shown by data from Precedence Research. It is predicted to reach $1,597.1 billion by 2030, with a CAGR of 38.1% between 2022 and 2030.
As any other digital tools and digitalization strategies use of AI tools enable merchant to achieve better results with the same team. However, it needs to be understood that deployment of AI is not (and probably will never be) a one-off endeavor, rather than an ongoing journey where merchants, digitalization professionals, and consumers co-operate to achieve mutually beneficial goals.
While it is too early to make any definite conclusions about the influence of AI in eCommerce, it drives real value for the retail industry and enhances processes for digital commerce companies:
The major innovation that ChatGPT shows very clearly is understanding that every interaction a person has with it is part of a more extensive conversation. It’s personalization that’s not just an additional sentence but is based entirely on AI and built into the core of ChatGPT. The way it takes to return more relevant results in the context of the user’s journey looks genuinely incredible.
ChatGPT enables eCommerce companies to better understand customers’ context, be more personalized in that understanding and provide greater customization from the merchandising side. In addition, AI technology can help retail companies to build consumer trust and establish a strong reputation. Many tools with AI are already integrated into eCommerce, bringing undoubtedly great results.
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Using AI in email marketing isn’t just automation. It takes things a few steps further. AI uses advanced techniques to use insights from all your customer data, including customer behavior. AI uses it for making predictions and recommendations for personalization and segmentation at every stage of the customer journey.
AI can do a number of email marketing-related tasks at scale, including drafting articles, writing subject lines, and improving deliverability. For example, by integrating the ‘AI Studio’ product by SALESmanago, you will be able to generate and improve email content using a ready-made tool.
AI technology exists to make not only the email marketing process a whole lot smarter and more effective but helping improve customer experience throughout its shopping journey. There are so many AI-based tools that may be crucial for your business development.
So, if you are thinking about your retail digital commerce business boost and need to know how AI can help your business, contact Invertus, and our advisors will provide more information.
“There’s a wide range of applications to AI in the digitally enabled commerce: from creating a more personalized shopping experience to more accurate personal recommendations, efficient pricing strategies, and efficient marketing automation to increase conversions,” said Sarunas Pundzius, CXO at Invertus.”As any other digital tools and digitalization strategies use of AI tools enable merchant to achieve better results with the same team. However, it needs to be understood that deployment of AI is not (and probably will never be) a one-off endeavor, rather than an ongoing journey where merchants, digitalization professionals, and consumers co-operate to achieve mutually beneficial goals.”
At Invertus, we enable digital commerce for businesses that want to scale and cross borders. Contact us, and let’s discuss how we can help your business thrive.