📌 How artificial intelligence is lifting up marketplaces
AI case studies: #2024-04 | How AI is transforming the world?
Artificial intelligence is revolutionizing marketplaces by enhancing user experiences, automating processes, and personalizing recommendations.
In 2022, the global AI in the e-commerce market was valued at $5.5 billion and is projected to reach $35.9 billion by 2027.
AI is catalyzing market growth, driving efficiency, and elevating customer satisfaction across diverse industries:
⇒ AI-driven chatbots streamline customer interactions, boosting engagement and satisfaction.
⇒ Automated data analysis and predictive algorithms optimize inventory management, reducing costs.
⇒ Personalized recommendations powered by AI algorithms increase sales, with 35% of Amazon's revenue attributed to its recommendation engine.
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E-commerce Market to be Worth $21,168.6 Billion by 2030 by Meticulous Research
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Workbook: Building a sustainable data-driven organization, part 1
Hello, This workbook is based on conversations with AI startup founders and engineers. We present it as an evolving planner to help founders and leaders integrate the central notions of building a sustainable data-driven organization. There are many ways to build business solutions and tools with AI, including open-source models, LLMs, training models, fine-tuning, or using hosted APIs, all from scratch. But we also see a surge of interest in data-driven business acquisitions among large companies. It entails buying an existing solution, not starting it from zero, with the potential for more autonomy and ownership.
📌 AI case studies
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Recommended reads:
- Marketplaces in the Age of AI by a16z: https://a16z.com/marketplaces-in-the-age-of-ai/