What Is AI?

AI (Artificial Intelligence) is the simulation of human intelligence in machines that are designed to think and act like humans. AI systems can perform tasks such as recognising speech, making decisions, and solving problems that typically require human intelligence, such as visual perception, speech recognition, decision-making, and language translation. AI can be divided into narrow or weak AI, which is designed to perform a specific task, and general or strong AI, which has the ability to perform any intellectual task that a human can.

Potential Benefits Of AI

AI offers several key benefits, including:

1. Increased efficiency & accuracy:
   AI automates tasks and processes, reducing the time and resources required to complete them with more accurate predictions, decision-making and generative content due to the large amounts of data it can process.

2. Cost savings:
   Automating tasks and processes with AI can result in reduced labour costs and increased operational efficiency.

3. Improved Ad ROI:
   AI can make thousands of changes to advertising campaigns to optimise performance and increase return-on-investment.

4. Maximising revenues & achieving best margins:
   AI can dynamically re-price products to ensure optimum margins and sales revenue against a constantly changing competitive marketplace.
   
   

5. Personalisation:
   AI can be used to analyse individual behaviour and preferences, allowing for more personalised experiences and recommendations.
   
   

6. Enhanced decision-making:
   AI algorithms can provide insights and recommendations based on vast amounts of data, helping decision-makers make more informed choices.
   
   

7. Improved customer service:
   AI chatbots can provide quick and efficient customer service, freeing up human representatives to handle more complex issues.

8. Predictive maintenance:
   AI can help predict when equipment or machinery is likely to fail, reducing downtime and maintenance costs.

Availability Of AI & Alternatives

Artificial Intelligence (AI) is available to use within the following areas within our Advanced Edition version.

Many of the use cases are for generative AI to produce content, other are available for advertising and product recommendations.

The use of different AI engines will come down to cost. However, other in-built technology may be an effective alternative to AI dependent upon factors including product catalogue size, industry and ad spend.