Tag Archives: MachineLearing

16 November 2023
2 Comments
AI, Business

Algorithms in E-commerce

Reading Time: 2 minutes
Online spending study regarding Estonia, Latvia and Lithuania in the light of pandemic. - - Gemius – Knowledge that supports business decisions

Nowadays AI and machine learning are used in many spheres of business. They are very effective tools which bring a plenty of benefits to those who utilize them. I propose to have a look at algorithms that are implemented in e-commerce and how they influence our decisions and experience of online shopping.

Product recommendation engines

The recommendation engine is one of the hottest trends in the global e-commerce space. Using algorithms, product recommendation engines are used to surface products for customers based on various factors.

They benefit retailers by showing visitors the products that, based on the data fed into the engine, they are most likely to buy. For the shopper, the improved relevance means a better shopping experience.

Personalization

Properly personalized content on the website or mobile application increases conversion and customer engagement. The selection of the best content is possible thanks to machine learning algorithms for e-commerce. 

The results on the website are adapted to the personal preferences of each individual person. In this way recommendations for using machine learning in e-commerce could help you to increase your revenues.

On-site search

Traditional site search relies on finding an item in the product database which matches all or some of the shoppers’ search query.

Machine learning algorithms can be applied here, which allow additional data such as add to cart and purchase behavior around products influence the sorting of results, meaning shoppers will see more relevant output. It leads to higher chances of purchasing which is very favorable for the shop.

Dynamic pricing

Algorithms can be used to control and set pricing levels and optimize inventory for online retailers.

For the vendors, it can help them to find the right price point for their products and maximize profitability. It can take into account several variables to get, testing for different visitors, before finding the best blend.

Chatbots

Chatbots are designed to have online conversations with users and assist them in the purchase process in the most effective way.

However, from my point of view, conversations with these bots aren’t always effective and may lead to a need to still contact someone from the support team, as not all bots create replies according to your specific situation.

Image recognition

Image recognition can be used in site search to find visual matches for products entered and show relevant results for users.

Retailers invest in AI and image recognition systems to influence customers’ behavior and also for a process automatization. This could be defined by user’s preferences based on the category of products the person usually buys (what color, what brand) and based on the data from social media (Instagram, Twitter, Facebook).

Fraud detection

The cost that online stores lose due to fraud continues to increase steadily. Therefore, fraud identification and protection are important processes for all online stores. Machine learning algorithms for e-commerce can improve these processes and make them more effective.

These are the most important features of algorithms in e-commerce for both businesses and shoppers. We have a great possibility to make our sales more profitable and make our shopping experience more enjoyable by using them. The impact of these innovations is impressive, and for sure they will be developed even more in the future.

Resources:

  1. https://addepto.com/blog/best-machine-learning-use-cases-ecommerce/
  2. https://dotknowledge.uk/articles/view-article/how-online-retailers-can-use-algorithms-to-grow-their-business
  3. https://searchspring.com/blog/what-merchandisers-should-know-about-ecommerce-search-algorithms/
  4. https://www.eukhost.com/blog/webhosting/6-ways-ecommerce-stores-benefit-from-algorithms/
  5. https://www.itransition.com/machine-learning/ecommerce

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29 December 2018
2 Comments
Bez kategorii

Arnav Kapur reads minds. What’s your superpower?

Reading Time: 3 minutesAlterEgo is an early-stage prototype of wearable headset that allows a user to communicate with machines by verbalising words in head without speaking them loudly.

How it works? User just have to articulate words internally. Then, electrodes pick up neuromuscular signals and send them to AI assistants, services or applications where machine learning system interprets these signals like words and finally the user receives an answer. But not an ordinary answer. It can be execution of the command by the device or even aural words given by bone conduction without speaking them. AlterEgo claims that their product “allows humans to converse in natural language with machines… without disrupting the user’s usual auditory perception, and making the interface closed-loop”.

Arnav Kapur, a graduate student at MIT Media Lab, was the lead researcher of this invention. He said that  “Our idea was: Could we have a computing platform that’s more internal, that melds human and machine in some ways and that feels like an internal extension of our own cognition?”

Interestingly, Arnav perceives AlterEgo as antidote to the anxiety concerning AI. He emphasizes that he is aware of the doubts and fears that people have while thinking about AI and he claims that his device will help us rather than replace us. He believes that AlterEgo will save our time and not disrupt our minds. It is meant to improve our relation with electronical devices and make them less involving. Furthermore, AlterEgo aims at helping the ones that have voice disorders.

Examples of usage of AlterEgo include asking about weather, time, date or any information from the phone, advice on how to win chess, summing up the prices of products we are buying, connecting with IoT by for example switching channels on TV, putting the kettle on, turning the light off etc.

alterego

There are many nonobvious ways in which this device could be beneficial. Thad Starner, a professor in Georgia Tech’s College of Computing suggest using it in the military where communicating silently is often a must for the success of the operation. More down-to-earth example is ordering an uber while being at the meeting or during the lessons.Sometimes we also need to check infomation discreetly and quickly for example with our lawyer at the hearing.

Tanzeem Choudhury, an associate professor at Cornell University who runs the school’s People-Aware Computing Lab, thinks that AlterEgo will be useful with situations in which we are embarrassed to talk or even write about something.

The main challenge that Kapur has to face in the near future is building a data set for the device since silent speech is something completely groundbreaking. At the moment they are working on different languages versions, extension of vocabulary as well as new functions of the device.

How would you use AlterEgo? Do you think that this device can cause any negative consequences like deteriorating the way we speak for example? Let me know in the comments!

 

References:

https://www.bleepingcomputer.com/news/technology/the-alterego-headset-lets-you-silently-communicate-with-a-computer/

https://www.media.mit.edu/projects/alterego/overview/

https://www.technologyreview.com/s/610949/say-goodbye-to-alexa-and-hello-to-gadgets-listening-to-the-voice-inside-your-head/?utm_source=facebook.com&utm_medium=social&utm_campaign=owned_social&fbclid=IwAR2AXnU3p2QAhBQO9D1d_YLT2jAmK21SrFhSpg-ECrzjjpYq_IkfXkxRk3w

 

 

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