Unless you have spent your last few years on a remote island, you’ve most likely heard of Artificial Intelligence (AI). It’s changing the way our world communicates as well as changing the way we shop. AI is beginning to embed itself into all aspects of our lives. From the growing numbers of self-checkout cash registers to advanced security checks at airports and subway stations.
It’s widely anticipated that AI is going to get into the turbo mode especially in the next 2-3 years with all the tech giants like Google and Microsoft already investing heavily in making it happen. Google’s recent purchase of DeepMind for 400 Million Pounds is a testament to this fact. DeepMind is an AI company that specializes in algorithms and machine learning for positive impact is just of many positive developments in making AI at the forefront of all the technologies that will dominate the future.
AI is now also improving the online shopping experience for consumers as well as retailers like most other fields. But exactly how it is doing so, what is the speed of its growth and what are the challenges that we may face are the burning questions. Many retailers are already using AI into their ecommerce processes from virtual assistant chatbots to customized shopping experiences.
Netflix is one of the companies which knows that AI is the future and has already using it to great effect. It uses AI to provide personalized recommendations to subscribers based on their previous streaming habits. In this Infographic now, the questions that we raised earlier will be answered along with important stats.