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Monday, February 27, 2023

Where Should Retailers Start with ‘generative’ AI?

 Some good points are covered. 

Where should retailers start with ‘Generative’ AI?

Feb 27, 2023, by Tom Ryan  with additional expert comment at the link.

“I think it’s exciting, what’s possible with generative AI,” Amazon.com’s CEO Andy Jassy said in a recent interview with Financial Times. “And it’s part of what you’re seeing with models like ChatGPT. But most large, deeply technical companies like ours, have been working on these very large, generative AI models themselves for a long time.”

Amazon is believed to be behind the “generative” AI race between Microsoft and Google, which hosted media events in early February highlighting their generative AI technology.

The AI-driven technology promises to understand and respond to natural language inputs with context. According to Investor’s Business Daily, Bank of America analyst Justin Post wrote in a note, “Use of AI will be a critical driver of all things Internet, including content relevance, ad performance, e-commerce conversion, marketplace efficiency and even customer service.”

ModernRetail said brands and retailers are looking to partner with ChatGPT-tech providers, with only a few larger, tech-driven corporations like Amazon, Shopify, JD.com and Alibaba seeking to develop similar tools themselves. Reuters wrote, “An exchange with AI known as a large language model likely costs ten times more than a standard keyword search.”  ... ' 

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