AI Articles and Analysis in Consumer goods

In 2017, Emerj conducted research into the applications of machine learning in marketing with 51 different AI-focused marketing executives. The AI marketing vendors we spoke to named retail and eCommerce as the top sectors ripe for applying marketing AI software. Below is a graphic from our research showing the sectors that AI marketing vendors sell into most:

Artificial intelligence and machine learning have fueled technological innovations in marketing, eCommerce, and several other industries. Many people experience the benefits of AI and ML systems without even knowing it every time they search on Google or click on a song in Spotify.

Modern AI and machine learning software require large sets of data in order to train its algorithms to make judgments, make predictions, and take actions. Data is a critical part of bringing artificial intelligence to life in different industry sectors. The applications we’ve highlighted below involve organizing historical and real-time data from existing businesses in the retail sector from which data scientists can build machine learning models.

Episode Summary: One of most fun parts about doing our geolocation pieces at TechEmeergence is that we are able to interview so many people within a given country or city. Recently we did a huge piece on AI in India. We got to interview folks from the government and the bigger existing businesses, as well as a handful of people at the unicorns in Bangalore.

Forrester surveyed call center business leaders and found that 46% of them expect their business to grow by 5%-10% in 2019. To make this happen, Forrester reports that companies will increasingly explore the use of AI-driven chatbots and voice services.

International Data Corporation reports that the global wearables market continued to grow in the second quarter of 2018 as shipments reached 27.9 million units, an increase of 5.5% year-on-year. This growth translated to $4.8 billion year-on-year for the quarter. Smartwatches continued to be the most popular wearables.

Episode Summary: In this episode of the AI in Industry podcast, we interview Sumit Borar, Senior Director of Data Sciences and Engineering at Myntra, an eCommerce site for fashion, about the current and future state of eCommerce personalization and how the way customers in India purchase products online affects that personalization. Myntra talks about the challenges of bringing dialed-in personalized recommendations to the physical world and the challenges of bringing eCommerce into the developing world.

Reuters referenced an Orbis Research figure estimating the global cosmetics market to be worth around $$805.61 billion by 2023.