As a previous article advanced, more firms are using artificial intelligence to predict
consumer behaviour and encourage them to make sales. This post will look at
more developers leveraging this tech.
A start-up in Berlin, called SO1 has been using this technology and it claims that nine times
more people purchase products suggested by AI than those offered by traditional
promotions, even when the discounts are 30% less. This is because getting
‘advertisements’ for goods that you actually want to buy is much more effective
than receiving a random coupon.
Another firm making the most of artificial intelligence and
data collection is the giant Amazon. The company has amassed a huge
amount of information on its customers whether it is via its online shopping
website or through its smart products such as Ring Doorbell and Echo Speakers.
Its physical stores are also equipped with AI-aided computer vision technology.
Nonetheless, the head of UK's Open Data Institute, Jeni Tennison, is a
bit wary about the huge amount of personal information being collected. She
says that people are undoubtedly happy to receive personalised offers. However,
they do not like feeling pressured or manipulated “into particular buys based
on a caricature of who they are rather than the full complexity of their personality”.
Firms should be careful with data privacy © Royalty-free image
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