AI trends 2024: Ramping up innovation, productivity, and CX
AI trends for 2024 include more personalized customer experiences and increased productivity as businesses incorporate generative AI into their processes.
As companies modernize the customer experience, artificial intelligence is taking a starring role. In a market where data is king and buyers are more informed than ever, AI solutions are game-changers to how businesses can interact with and syndicate their data to consumers.
While it’s exciting to see how far AI has come, it’s naive to think that operationalizing AI across an organization requires nothing more than flipping an algorithmic switch.
In fact, harnessing the full potential of AI often includes overcoming a massive challenge facing organizations across the globe: accessing and integrating accurate data from various siloed technology platforms.
Composable commerce technology provides a solution to this challenge, helping companies achieve AI success.
Composable commerce technology and AI
To understand how composable commerce supports enterprises in their AI endeavors, let’s start by looking at the areas where AI excels:
- Product data cleansing + enrichment: AI solutions can scan massive datasets and search for anomalies, inaccuracies, or inconsistencies and flag them for human review or suggest improvements.
- Product content translation + localization: AI-driven localization algorithms can adapt product content to specific regions, accounting for regional preferences, units of measurement, and currency, providing a tailored experience for customers from various cultural backgrounds.
- Personalized product recommendations: AI solutions analyze customer behavior, including browsing habits and past purchase history, to offer tailored product suggestions that improve CX and encourage upsell or cross-sell opportunities.
- Unburden customer support: AI-powered chatbots can reduce the workload on a support team and improve the efficiency of a ticketing system. These bots can handle routine questions, provide product information, and even intelligently route complex inquiries to human agents when needed 24/7.
- Improve site search functionality: AI solutions can provide improved product tagging and categorization functionality, meaning that customers can find the products they’re looking for on a website site faster and easier.
In order for these applications of AI to be effective, however, organizations need to overcome the challenge of integrating data across a wide range of disparate systems.
Think about it. In order for a large language model to identify errors in product content generation, it needs access to:
- Product design files stored in the product lifecycle management (PLM) system
- SKU numbers stored in the enterprise resource planning (ERP) system
- Product descriptions and material lists from the product information management (PIM) system
- Possibly photos or videos stored in the digital asset management (DAM) system
And that’s all just for product content cleansing. When it comes to incorporating customer success teams and SEO functionality, the web becomes even more complex.
Composable tech benefits
Enter composable commerce, a modern architectural approach designed to address these challenges and more. Composable commerce is built on the premise of flexibility, enabling businesses to select and integrate best-of-breed technologies that address their specific business needs.
By decoupling front-end and back-end systems, composable commerce allows for the seamless exchange of data and crucial information across previously isolated platforms.
This technology encourages:
- Scalability: As your business grows and evolves, so can your tech stack. Adding new functionalities or scaling existing ones becomes more manageable and cost-effective.
- Flexibility: With the ability to mix and match services, businesses can quickly adapt to market changes, customer preferences, and new technological advancements without overhauling the entire system.
- Open communication: Composable architecture promotes better integration and data flow between systems, ensuring that all components can communicate freely and efficiently.
- A foundation for product information: Perhaps most crucially for AI implementation, composable commerce helps an organization create a foundation of accurate, reliable product data through technology that communicates effectively in real-time.
Composable architecture: Getting modular for e-commerce agility
Leading brand are turning to composable architecture as a way to build and rebuild their digital commerce capabilities block by block as they respond to changing customer needs.
Breaking boundaries, driving innovation
If the past year or so has been any indication, AI shows no signs of slowing down. For an organization to remain relevant, adaptability is the name of the game. The key isn’t just adopting AI, but fostering an environment that can evolve alongside these technologies.
From more advanced personalization engines to entirely new forms of customer interactions and operational automation, AI will continue to evolve and demand a robust technological framework to support new functionalities and possibilities.
Unlike rigid monolithic platforms, a modular approach is built on flexibility, allowing organizations to test, learn, and iterate on different technologies without being bogged down by a legacy system.
Composable commerce technology enables brands to create a centralized repository for all product data by seamlessly connecting their PIM, ERP, OMS, DAM and other systems, making product data easily accessible to AI applications.
This unified data environment enables retailers to create a foundation of rich product information, including descriptions, attributes, images and pricing to provide AI algorithms with accurate, complete and up-to-date information. That allows companies to generate dynamic pricing, personalized recommendations, targeted marketing campaigns, and drive other intelligent functions.
With a composable framework, organizations can efficiently manage and activate their entire product record across all channels without being hindered by the complexity of their tech stack, the quantity of custom integrations they’ve created, or the number of stakeholders involved.
