{"id":25374,"date":"2020-12-15T06:00:00","date_gmt":"2020-12-15T14:00:00","guid":{"rendered":"https:\/\/insidebigdata.com\/?p=25374"},"modified":"2020-12-16T09:11:48","modified_gmt":"2020-12-16T17:11:48","slug":"how-ai-is-being-applied-to-retail-deep-learning-brings-superpowers-to-ecommerce-with-companies-like-wish-and-rtb-house-leading-the-charge","status":"publish","type":"post","link":"https:\/\/insidebigdata.com\/2020\/12\/15\/how-ai-is-being-applied-to-retail-deep-learning-brings-superpowers-to-ecommerce-with-companies-like-wish-and-rtb-house-leading-the-charge\/","title":{"rendered":"How AI is Being Applied to Retail: Deep Learning Brings Superpowers to eCommerce with Companies like Wish and RTB House Leading the Charge"},"content":{"rendered":"\n

A major, accelerating shift is underway in retail. As consumer spending behaviors rapidly move online, traditional and online retail outlets are in a heated arms race to adopt and develop deep learning technologies in order to maximize engagement, increase sales and ultimately, drive revenue.<\/p>\n\n\n\n

Recently, conversations about AI have dominated the tech scene with people like Mark Zuckerberg, and nearly every major tech company founder, participating in the debate. Everyone agrees that AI will transform our lives. From an advertising point of view, global giants, such as Google and Microsoft, have already deployed new AI technologies inside their ad systems and they are projected to dramatically boost ad revenue.<\/p>\n\n\n\n

What is Deep Learning?<\/strong><\/p>\n\n\n\n

Deep Learning, an advanced form of artificial intelligence (A.I.), is all around us, and it\u2019s growing increasingly ingrained in how we live and work. Deep Learning tech is \u201cthe brains\u201d behind the automated traffic control on our city streets, our sophisticated translation systems, and the fast, accurate facial recognition at our airports. It\u2019s also an integral technology for any breed of self-driving car. Additionally, Deep Learning can also vastly improve both the shopping and e-commerce experience.<\/p>\n\n\n\n

How is Deep Learning being used in e-commerce?<\/strong><\/p>\n\n\n\n

Some practical examples of the predictive power of Deep Learning in action include the ability to increase online ad response without increasing your cost of sale or decreasing your ROAS, delivery of more personalized offers for shoppers based on browsing history or habits, or instant, deep insights about a particular consumer based on their recent purchases or shopping behaviors.<\/p>\n\n\n\n

What companies are implementing Deep Learning in eCommerce and how it is being applied?<\/strong><\/p>\n\n\n\n

Wish.com: Using Deep Learning to Only Show Users What They are Interested in<\/em><\/p>\n\n\n\n

The Wish app uses data mining and deep learning to show users (who are ultimately shoppers) products they are likely to buy, save, or share. Showing just a handful of products at once, Wish is benefiting both buyers and sellers. For the buyers, Wish eliminates clutter. It doesn\u2019t show shirts, pants, skirts, or belts \u2014 as a few examples \u2014 that are not apt to interest the shopper. The shopping experience is streamlined. For merchants, this means that products are presented to the most likely buyers, potentially encouraging sales. For small and mid-sized online sellers, Wish\u2019s popularity \u2014 perhaps half a million daily users \u2014 may demonstrate how personalizing pleases customers and ultimately may increase sales.<\/p>\n\n\n\n

Wish employs big data principles, deep learning, and state-of-the-art search technologies to create a highly-visual, entertaining, and personalized browsing experience for each user. <\/p>\n\n\n\n

\u201cThe more we invest in data to personalize the recommendation experience, the more we see improvement in conversion rates,\u201d according to Peter Szulczewski, CEO and Co-Founder.<\/p><\/blockquote>\n\n\n\n

RTB House: Transforming Advertising Engagement Through Deep Learning<\/em><\/p>\n\n\n\n

RTB House is another example of innovators exclusively using Deep Learning and proof that what seemed like sci-fi just a few years ago seems now to be a natural process to make online activities more efficient than ever before.<\/p>\n\n\n\n

The driving force of RTB House is its disruptive performance marketing AI platform built on 100 percent Deep Learning and what it delivers for marketers. Its self-learning algorithms, inspired by biological neurons in the human brain, analyze and learn internet users\u2019 behaviors in real time to generate outstanding results. Its platform identifies high-value shoppers and boosts results via one-to-one personalized ad creatives. Due to Deep Learning algorithms, performance is up to 50 percent more efficient<\/em> than standard machine learning AI-based approaches.<\/p>\n\n\n\n

\u201cDeep Learning is even more advanced than machine learning, and can handle much larger quantities of data very quickly for common retail applications,\u201d said Gary Burtka, VP of US Operations at RTB House. \u201cBut Deep Learning, a form of AI that mimics the workings of the human brain, has important implications for retailers. And some already are putting it to work.\u201d<\/p><\/blockquote>\n\n\n\n

Additional Examples of Deep Learning Transforming the Retail Sector:<\/strong><\/p>\n\n\n\n