with a chatbot to find a product online
Let’s talk about conversational commerce.
Learn how AI can enhance the shopping experience
5. Improve ecommerce fraud prevention
Fraud detectionOpens in a new window is a critical part of ecommerce, but scammer tactics are always evolving and increasing in sophistication. In fact, 5% of its annual revenueOpens in a new window to fraud each year.
AI’s predictive capabilities can learn scamming behaviorOpens in a new window and become smarter than the bad actors. The data points gained in this process can help payment solutions teams improve their fraud detection and target malicious activity without impeding legitimate purchases.
Hurdles to implementing AI in commerce — and how to navigate them
For all the benefits of AI, there are certain roadblocks that keep america phone number list businesses from realizing its full potential.
Your AI is only as good as the quality of your data. A majority (70%) of commerce leaders say that poor data integration and harmonization is at least a moderate pain point on the road to AI implementation. To reap the benefits of AI in commerce, make sure all your company’s data is in one consistent format. This is known as “data harmonization”. Once your data is harmonized, it can be used to fine-tune an existing large language model (LLM) — an AI algorithm that uses deep-learning techniques and large datasets to understand, generate, and predict new content — to enable generative intelligence.