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How AI Will Transform Data Science for Retail

Jan Soerensen, General Manager, North America for Nosto, offers insights -- from working with thousands of retailers across the globe -- to help companies better understand how using AI can help them delve deeper into consumer behavior and generate new opportunities for growth. One of the biggest challenges currently facing the ecommerce industry is how to best offer customers personalized shopping experiences. Advancements in artificial intelligence (AI) and machine learning are rapidly changing the game by collecting and analyzing vast quantities of customer data and helping retailers leverage it to create highly personalized shopping experiences. Here's how AI can enable you to go beyond just personalizing products to building memorable, full brand experiences that fuel longer-lasting customer relationships. On average, we know that when a custom shopping experience is implemented for customers, they'll spend twice as long on a website, have an 18% higher order value, and a 133% higher conversion rate according to Nosto reports.