AI Articles and Analysis in Consumer goods

Deloitte reported that 42% of questioned executives think AI will be “of critical importance” within two years. We researched the marketing space to discover how and where AI might be driving business value for companies in marketing. Some companies are finding results using AI-powered personalized marketing strategies. 

Data is essential when it comes to building machine learning models for business applications. A strong AI strategy is predicated on data that is specific to the business problem a company is trying to solve, as outlined in our recent article: Data Collection and Enhancement Strategies for AI Initiatives in Business. When it comes to executing on that strategy, oftentimes the first thing a company needs to do is collect some or all of the data it will need to build the right machine learning model for its use case.

Episode Summary: We speak this week with Aneesh Reddy, cofounder and CEO of Capillary Technologies, which focuses on machine vision applications in the retail environment.

Adoption of chatbots—coded programs that can engage in some degree of conversation with human inputs, often through the help of artificial intelligence (AI) or machine learning—is undoubtedly a growing trend. There are thousands of chatbots in use today, on websites, messaging apps, and social platforms. It follows that bots would find a prominent place in the retail world.

There are several companies claiming to offer AI solutions to consumer packaged goods (CPG) companies. We found that these solutions are intended to help CPG companies with at least one of the following business problems:

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.