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Your Ecommerce is now backed by data science. Know thy customer!

Conversational search and recommendations is one of the go-to AI tool for e-commerce as it tops conventional search and recommendation by allowing greater interaction between the user and the system. The system gets to engage in a natural dialogue with your customer directly and understand his or her needs better by asking a series of relevant and sequenced questions. If you are to buy a smartphone, the system may ask your budget, your preferred brand, and your preferred system specifications to narrow down its search, thereby saving you a lot of time and trouble of going through N number of brands. System Ask — User Respond (SAUR) paradigm for conversational search can be achieved via Multi-Memory Network (MMN) architecture, in which the system is fed with a wealth of user data in e-commerce. It conducts a search during the ongoing conversation and responds when it is confident of having the right or most accurate results.

Retargeting ensures sales and is done by placing ads on external websites to grab the attention of customers once they have exited your own online platform. It helps in creating multiple engagements with the customer, and leads to sales. Retargeting can be used a) To connect with existing customers wherein you could add their email addresses to send them specific ads via your retargeting ad network and b) To connect with probable customers or browsers who have shown an inclination towards your product. This is found via their browser cookies and you can retarget these browsers.

Retargeting can be divided into two: Social retargeting wherein the ads are displayed on customers’ social media networks such as Facebook, Instagram, Twitter etc and Search retargeting wherein ads are displayed on customers’ display network such as Google results, YouTube, etc.

Marketers are constantly on the lookout to ensure customers are shown products they’re most likely to purchase and Personalisation of Ads helps. AI helps immensely in product recommendation advertising for e-commerce. With endless data in the bag, AI predicts what the customer wants to buy and when. AI helps in making advertising highly relevant and contextual, thus it resonates with your customers even more. This is done by using the historical data sets in identifying customer buying and behavior patterns, their likes and dislikes etc. Thereafter, your ads are custom-made or personalized for each of your customers, and these would then deliver the required end result i.e. either a click or a purchase. Every positive response adds to the aforementioned data sets used, thereby, making them more efficient.

Targeting with geo-location intel in e-commerce is a sure shot formula to increasing sales as it allows you to tap on-the-go customers. By knowing their location, you can direct customers to your nearby shop, products/services, restaurant etc. This is done through their smartphones through which they share photos of a particular place they are in, as well as GPS enables apps. Once such data is obtained, real-time ad campaigns can be delivered to their smartphones. You are not only connecting to the right customer, but also at the right time. Google Ads contain a feature allowing advertisers to specify a location or a set of locations in which they want ads to be shown.

All these AI tools make the system and the user come closer, while marketers get the required sales, and human effort is minimized.

You could also read about how AI Based location targeting can boost your marketing ROI multifold, here.

Video editing and film-making

If you have ever been in the business of video editing, especially when a famous celebrity was involved, and no matter how much you try to salvage the video, you cannot; deepfakes will help with that clip and your video will be made uninterrupted. Earlier, movie directors would spend millions on creating the perfect location for their movies. This is now achievable with a far lesser sum using deepfake and AI. Deepfakes can be real game-changers in film-making. Imagine new movies starring Charlie Chaplin opening to full houses. This, ofcourse, after all the copyright issues are taken into consideration..

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wasim basir

marketing, board member

It’s most obvious in the digital media space, from click buys to personalized web experiences. For marketing, the AI journey has just kick-started, while in the tech sector it has been applied for a while now. We are still at an early stage where inroads are being made into AI content via chatbots and even some explanatory content creation but what will make anyone jump up and embrace it is when we will start seeing a lot of mainstream content being created by AI.

rich arnold

board member

Prior to joining Infinite Analytics, Richard served as the CFO of CrowdFlower, COO and CFO of Phoenix Technologies, as a member of the board of directors and chairman of the Audit Committee at Intellisync, and previously as CFO and executive vice president strategy and corporate development at Charles Schwab.

pravin gandhi

board member

Pravin Gandhi has over 50 years of entrepreneurial operational and investing experience in the IT industry in India. He was a founding partner of the first early stage fund India - INFINITY. Subsequently a founding partner in Seedfund I & II. With over 18 years of investing experience, he is extensively well networked in investment and entrepreneurial scene and is an active early stage angel investor in tech & impact space. Pravin holds a BS in Industrial Engineering from Cornell University, and serves on the board of several private corporations in India. He is on the board of SINE, IIT Mumbai Incubator.

Purushotham Botla

co-founder & cto

Puru has his Masters in Engineering and Management from MIT. Prior to MIT, he worked with Fidelity Investments building electronic trading products and high volume market data processing applications. He has completed his BE from VJTI, Mumbai.

deb-roy

Deb Roy

Executive Director, MIT Media Lab

Deb Roy is Professor of Media Arts and Sciences at MIT where he directs the MIT Center for Constructive Communication, and a Visiting Professor at Harvard Law School. He leads research in applied machine learning and human-machine interaction with applications in designing systems for learning and constructive dialogue, and for mapping and analyzing large scale media ecosystems. Deb is also co-founder and Chair of Cortico, a nonprofit social technology company that develops and operates the Local Voices Network to surface underheard voices and bridge divides.

Roy served as Executive Director of the MIT Media Lab from 2019-2021. He was co-founder and CEO of Bluefin Labs, a media analytics company that analyzed the interactions between television and social media at scale. Bluefin was acquired by Twitter in 2013, Twitter’s largest acquisition of the time. From 2013-2017 Roy served as Twitter’s Chief Media Scientist.

Erik Brynjolfsson

Board Member

Erik Brynjolfsson is the Jerry Yang and Akiko Yamazaki Professor and Senior Fellow at the Stanford Institute for Human-Centered AI (HAI), and Director of the Stanford Digital Economy Lab. He also is the Ralph Landau Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR), Professor by Courtesy at the Stanford Graduate School of Business and Stanford Department of Economics, and a Research Associate at the National Bureau of Economic Research (NBER).

Akash Bhatia

Co-Founder and CEO

Akash co-founded IA while studying for his MBA from MIT. Prior to MIT Sloan, he co-founded Zoonga. Before this, Akash was an engineer with Oracle in Silicon Valley. He has completed his M.S from University of Cincinnati and B.E from the College of Engineering, Pune.