After the Shop Talk Europe conference that happened on the 11th of October 2017, Robert W. Baird’s Coling Sabastian had an update on AI (artificial intelligence) and ML (machine learning), saying that companies today should either adapt or get left behind.
Sabastian also wrote saying that Amazon, Alibaba, Facebook, eBay and Paypal are the companies who are benefiting from AI. Artificial intelligence is rapidly growing in the e-commerce sector and tech companies are racing to provide services to retailers who are trying to catch up.
AI is still in its early stages and are still improving with time. However, there are online retailers who are already reporting benefits from AI. But, most of that AI, doesn’t really qualify as true artificial intelligence, according to Sabastian. What he means is that there is still a big opportunity for giants such as Google, Salesforce and IBM to power AI for many of the online retailers who do not have budget to create their own.
Sabastian also had this to say about Google specifically:
“With Amazon presenting a meaningful competitive threat to Google in commerce Search, the company sees AI and AR as innovative technologies where Google can maintain a leadership position. By the end of 2018, Google expects there will be nearly one billion AR-enabled smartphones in the market, along with an increasing number of smart glasses (from Magic Leap, Apple (AAPL), and Amazon, etc.) Google views the broad move towards “immersive computing” as playing to the company’s strengths, with voice-first quickly evolving to voice-and-visual (gesture) interactions, leveraging the ubiquitous Google Assistant. Google also highlighted YouTube as an increasingly important partner for online and offline retailers, driving significant store visits from local video ads.”
Article originally by Barrons Asia, written by Teresa Rivas on the 11th Oct 2017