Author Archives: 47529

29 January 2023
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AI, Business

Unlocking the Power of Machine Learning in Ecommerce

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https://www.prefixbox.com/blog/machine-learning-for-ecommerce/

Machine learning has become an integral part of the ecommerce industry. It is a powerful tool that helps businesses make more optimal decisions and improve their overall performance. It already has a plethora of implementations, from demand forecasting and inventory management, through dynamic pricing and personalized ad targeting, to chat bots or picture generators. Nevertheless, in this blog post, I will explain two of the most common implementations of machine learning in ecommerce, specifically forecasting demand and pricing strategies.

Forecasting demand is a crucial aspect of ecommerce, as it allows to predict future sales and adjust the inventory accordingly. Machine learning algorithms can analyze large amounts of historical data to identify patterns and trends that would be difficult for humans to spot, which can then be used to make accurate predictions about future demand. For example, retailers can use time series forecasting models or regression models, which take into account historical data collected, market trends, and consumer behavior to predict how many units of a particular product will be sold in the future, which they can also use to help with inventory management. Although the accuracy depends on the amount and quality of data collected, this can help avoid stockouts, which can lead to lost sales, or overstocking, which can result in wasted resources. Additionally, retailers can use machine learning to forecast demand for new products, which can help them make more informed decisions about when to introduce new items and how much inventory to stock.

Pricing is a critical component of any retail business, as it directly impacts customer behavior and ultimately affects a retailer’s bottom line. Traditionally, retailers have relied on manual methods, their experience, and gut instincts to set prices, but these methods can be time-consuming and prone to error. Since experience is a component there, you can improve it by having more data, and thus this is another area where machine learning can make a significant impact. By analyzing data on competitor prices, consumer behavior or demand spikes, retailers can use machine learning to optimize their pricing strategies and maximize their profits. For example, retailers can use dynamic pricing algorithms, or data-driven pricing strategies, which adjust prices in real-time based on factors such as supply and demand, to ensure that prices are always competitive and to maximize revenue, a strategy that Amazon is using since 2013. Additionally, retailers can use machine learning to analyze customer reviews, ratings and feedbacks to determine which products are most popular and adjust their pricing accordingly.

Price optimization with machine learning

To sum up, machine learning is a powerful tool that helps ecommerce businesses improve their overall performance. By analyzing vast amounts of data available to them, with the ever-increasing data collection practice, machine learning is becoming an essential tool to gain an edge and stay competitive in the ecommerce industry, and as the technology continues to evolve, it is only likely that in the coming years, we will see even more innovative applications of machine learning.

Sources:

https://mobidev.biz/blog/machine-learning-methods-demand-forecasting-retail

https://tryolabs.com/blog/price-optimization-machine-learning

https://www.sciencedirect.com/science/article/pii/S187705091401309X

https://www.prefixbox.com/blog/machine-learning-for-ecommerce/

https://www.hbs.edu/faculty/Pages/item.aspx?num=49523

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17 January 2023
2 Comments
AI, Business

Revolutionizing the Workplace: The Impact of artificial intelligence and machine learning

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Artificial Intelligence – Changing the Landscape for Businesses
https://www.cubix.co/blog/artificial-intelligence-changing-the-landscape-for-businesses

Artificial intelligence (AI) and machine learning (ML) from self-driving cars, through picture and text generators, to virtual personal assistants, are making significant strides in a wide range of industries quickly revolutionizing the way businesses operate.

AI and ML are being used to automate repetitive tasks, freeing up employees to focus on more complex and strategic work. This can lead to increased productivity and cuts in costs. In addition, AI and ML can be used to analyze large amounts of data, providing insights that were previously not possible. This can help organizations make better decisions and improve their bottom line.

One example of how AI and ML are being used in the workplace is in the field of human resources. AI-powered chatbots can be used to screen job candidates, conduct initial interviews, and even schedule follow-up interviews. This can save HR teams a significant amount of time and resources. Additionally, AI and ML can be used to analyze employee data, such as performance reviews, to identify patterns and trends that can help managers make better decisions about promotions, bonuses, and other HR-related issues.

Another area where AI and ML are making a big impact is in customer service. Virtual personal assistants and chatbots can be used to answer customer questions, resolve issues, and even make recommendations. The times when just hearing an automatic voicemail script, had frustrated to no end every person trying to call a helpdesk are coming to an end. Additionally, AI and ML can be used to analyze customer data and predict future needs, allowing companies to proactively address issues and improve their overall customer experience, but it is already being implemented into manufacturing, finance, healthcare, and many other industries. 

However, it is also very important to consider the ethical and societal implications of AI and ML in workplaces. These technologies can lead to job displacements, bias, and lack of transparency. Therefore, it is essential for companies to consider these issues and actively work on mitigating them.

It’s clear that the impact of AI and ML on workplaces will continue to grow in the coming years. Businesses that embrace these technologies will be well-positioned to stay competitive and succeed in the future. And it will be especially true for early adapters, who will gain significant advantage over anyone that will be late for this express train. 

In conclusion, AI and ML are revolutionizing the way we work and live. Businesses that embrace these technologies will be well-positioned to stay competitive in the future. However, it is important to consider the ethical and societal implications of AI and ML in the workplace and actively work to mitigate them. And just like in 18th century when new technologies created Industrial Revolution, like 20th century computers and automation, and just like the emergence of the internet, all pushing businesses and workplaces to adapt and evolve, while rising quite similar ethical concerns, artificial intelligence and machine learning are just impossible to ignore.

Sources:

https://www.ibm.com/watson/about

https://www.mckinsey.com/capabilities/quantumblack/our-insights/ask-the-ai-experts-what-are-the-applications-of-ai

https://www.mckinsey.com/featured-insights/artificial-intelligence/notes-from-the-ai-frontier-modeling-the-impact-of-ai-on-the-world-economy

https://www.beekeeper.io/blog/3-reasons-you-want-ai-in-the-workplace/

https://www.bbvaopenmind.com/en/articles/artificial-intelligence-in-workplace-what-is-at-stake-for-workers/

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19 December 2022
2 Comments
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How disinformation is poisoning social media – the unseen dangers lurking online

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Source: https://calmatters.org/commentary/2022/11/california-disinformation-social-media-literacy-conspiracy/

There is no doubt that social media has drastically changed the way we communicate and share information. Unfortunately, the problem of disinformation and misinformation in social media has become pervasive in modern societies, with the spread of fake news, hate speech, and other malicious content. It has become a major issue for social media platforms, as it can be used to manipulate public opinion and spread false information. As a result, it has the potential to create political, economic, and social instability and in turn divides between people, as those who believe the false information may start to see those who don’t as their enemies.

The main source of disinformation are malicious actors who deliberately spread false information in order to achieve their own goals. They use various tactics, such as creating fake accounts, using bots to spread content, hiring influencers and engaging in astroturfing. They usually use sophisticated techniques to make their content appear more credible, such as using false sources, identities and creating sophisticated graphics. 

The spread of disinformation is also facilitated by the structure of social media platforms. These platforms are designed to maximize user engagement, which leads to content that is spread quickly and widely. What is more, the algorithms that determine what content is shown to users often favor sensationalist and controversial content, which is more likely to be shared and spread. Since users can post and re-post anything they want without any fact-checking, as a result, false information can quickly go viral, reaching a large audience in a short amount of time.

There are several steps that I believe can be taken to address the problem of disinformation. Social media platforms should verify the identity of users and prevent the creation of fake accounts. They should also take steps to limit the spread of malicious content and ensure that users are aware of the potential disinformation, all of the unverified political and informational content should have a visible warning. Additionally, platforms should work on educating users about the issue, so that they can better recognise and report false information since it is realistically impossible for such platform operators to verify all the content themselves.

Finally, governments should also take steps to regulate social media platforms and ensure that they are held accountable for the spread of false information. This could include setting standards for content moderation and ensuring that platforms step up to preventing the spread of malicious content. Additionally, governments should ensure that users have adequate protection against malicious actors, such as the right to sue for damages caused by disinformation. I sincerely believe, that without adequate legislation, social media platforms will only push the responsibility of verifying content onto the users, washing their hands from the issue, since they will not spend extra resources on something that is not required from them.

Overall, the problem of disinformation in social media is a serious issue that requires a multi-faceted approach. Social media platforms should take steps to prevent the spread of malicious content, while governments should regulate and hold platforms accountable. But regardless of whether the above will be implemented or not, there are some best practices that we all should know and follow:

  • Always fact-check the information before sharing it in social media and if you are not sure whether the information is credible just don’t share it.
  • Look for and verify the sources. Stories with only one or no sources are more suspicious than stories with multiple.
  • Consider the agenda. Keep in mind, that news organizations operate for money. It does not mean all of them will provide false information, it is quite the opposite. Nevertheless, there will be many of them that will want to target a specific group of people and will skew the perspective to better fit this group’s preconceptions. Be aware that many propagandists will very often use seemingly open questions that point to a specific conclusion to push their agenda as a matter-of-fact truth.
  • Be cautious of stories playing to emotions. They are not automatically false, but keep in mind that propagandists and scammers know very well of the power this tool wields.
  • Break the chain. If your friend or family member (I know we all have one of those) share some unverified or false information, call them out. It is most likely an uncle or aunt you have not seen in years, what is the worst that can happen?

Sadly, it is really a lot of work to always follow all of the above. Fact is that it takes very little to share a post, while much more to verify it by yourself. That is why, and I cannot stress it enough, if you are not sure about the creditability of a story, please just do not share it.

Source: https://thefulcrum.us/big-picture/Media/social-media-disinformation-and-electoral-integrity

Sources: 

https://onlinemasters.ohio.edu/masters-public-administration/guide-to-misinformation-and-fact-checking/

https://www.theguardian.com/commentisfree/2018/mar/19/fake-news-social-media-twitter-mit-journalism

https://www.washingtonpost.com/technology/2022/02/24/tips-avoid-misinformation-ukraine-2/

https://reader.elsevier.com/reader/sd/pii/S1877050918318210?token=9347E05BEAE7EE5932E48601501231F661566D16F3DDD3CDD5FF744618D9188BD2B38D104556E4338632ECC4C57DBA87&originRegion=eu-west-1&originCreation=20221218172857

https://library.geneseo.edu/ElectionsAndPolitics/SocialMediaLies

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11 December 2022
1 Comment
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The copyright and plagiarism controversies around AI image generators

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With the rise of artificial intelligence and machine learning, there has been a surge in the generation of images and other content. Unfortunately, with this increase comes the issue of plagiarism. Plagiarism, or the unauthorized use of someone else’s work and claiming it as one’s own, is an ever-growing problem in the digital age. But what about when it comes to AI-generated images? Is it possible for a machine to plagiarize? And should AI-generated images or prompts used to produce them be protected under copyright law?

Source: http://copyrightblog.kluweriplaw.com/2018/09/25/singularity-copyright-challenges-artificial-intelligence/

On one hand, it can be argued that AI-generated images are not subject to plagiarism. After all, machines can only generate images based on the data that is given to them. It’s a process of learning and understanding, rather than creating something completely new. As such, it can be argued that AI-generated images are not plagiarizing, but rather using existing data to create something new.

On the other hand, if an AI is given a dataset of images and then uses that data to create a “new” image, it is still taking someone else’s work and claiming it as one’s own and can thus be considered plagiarism, even if the AI is not actually creating something original.

When it comes to protecting AI-generated images under copyright law, on one side, it can be argued that AI-generated images should be protected because they are the product of creative effort and should therefore be eligible for copyright protection. On the other hand, there is an argument that AI-generated images should not be protected because they do not involve any human creativity and are therefore not eligible for copyright protection and this is a stance that the US Copyright Office has taken. However, to acquire said image, you also need specific prompts and those do contain the human creativity factor, but most of the generators available leave the prompts generated by an user open to everyone to see and copy. Ultimately, it is important to consider the potential implications of not protecting AI-generated images. For example, if AI-generated images are not protected by copyright law, this could pave the way for companies to mass-produce AI-generated images without compensating the creators of the original images. This could have a negative impact on the economic viability of creating original images and could stifle creativity.

While some believe that AI-generated images should be considered as original works, others believe that they should be considered as derivative works of the original images used to train the AI. I wish I could contribute my own solutions to all of the above aspects, but personally the only clear answer that comes to me is that prompts should be protected and not readily available like most generators make them be. As for the rest, well, after researching those issues I only became more and more perplexed, and I hope you as a reader will give those your own thought. After all, the debate about this copyright black hole is ongoing, and it is likely that it will continue to be unresolved for some time to come.

Sources:

https://www.theverge.com/2022/2/21/22944335/us-copyright-office-reject-ai-generated-art-recent-entrance-to-paradise

https://www.trustinsights.ai/blog/2022/10/ai-and-copyright-law-how-copyright-applies-to-ai-generated-content

https://copyrightlately.com/using-ai-artwork-to-avoid-copyright-infringement/

https://www.kotaku.com.au/2022/08/ai-creating-art-is-an-ethical-and-copyright-nightmare/

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1 December 2022
3 Comments
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Will digital artists become obsolete?

Reading Time: 3 minutes

Artificial intelligence picture generation has drawn interest of many (me included) and has given rise to a lot of discussion. I assume many of you reading this blog post tried some of the engines yourselves or at least saw what they are capable of producing. At first sight it is very impressive, although the technology still has a lot of limitations, it is progressing rapidly especially that many codes are publicly available.

When it comes to Graphic Designers Industry, accordingly with IBISWorld, its market size for 2022 is estimated as $43.4bn which ranks this industry as 9th among the Global Business Activities industries. With such substantial size, it is inevitable that AI picture generation will find its place in this industry. Whether its influence will be big or small, it will most likely substitute or support many of the processes, in the same manner as increasingly more sophisticated graphic software did over the years. To back up my claim, I prepared for you a short case study.

When you need a graphic, be it an illustration, book cover, logo, or a physical depiction of the wild dream you had last night, if you were not an artist yourself, you would most likely look for outsourcing to one. Feverr is one of the websites that rallies freelancers of various fields, graphic artists included. I would like to present you the results of youtuber “Ten Hundred” after hiring artists on said website to make a graphic for him about his alleged dream for various prices. Below you will see a comparison of four pictures:

Source: TenHudred’s video & Nightcafe.studio

Two top ones were generated by me in nightcafe.studio which took me less than 3 minutes. Yes, they are of different styles, but I am sure that a person more familiar with the generators and one having more free access would be able to prepare a more fitting comparison. The two bottom pictures were ordered by abovementioned youtuber Ten Hundred for 155$ and 205$ going from the left, and he waited for the results around a week after paying extra for quick order execution. The funny part is, he explained what he was expecting to receive by text message, similarly as you type prompts to the current AI picture generators, and most of the artist he hired missed some of the details requested or added their own interpretations. Nevertheless, the mentioned order was quite detailed and abstract, I do not believe it would be easy for the AI to cleanly cope with such a prompt, and here emerges an opportunity for freelance artists, although not only, to use this new tool as a base of their works. On Fiverr alone there are already a lot of people offering their expertise in using the generators for 5 to 10$, but also artists that offer to generate and tweak or enhance AI generated pictures. While making a digital image, you will most often create layers, and even being able to quickly generate an original and detailed background scenery is a huge timesaver.

I personally believe that the interest of digital artists in this technology will grow more strongly than their aversion towards this potential competition and the industry in general will be affected.

References:

https://www.youtube.com/@TenHundred

https://www.ibisworld.com/global/market-size/global-graphic-designers/

https://creator.nightcafe.studio

https://www.fiverr.com

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