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Livestream Shopping During the Holidays: Perfecting Tech, Talent, and Timing

November 13, 2024 in Software & Internet

With the holiday shopping season approaching, e-tailers are gearing up to take advantage of major shopping days like Black Friday, Cyber Monday, and similar events. Social media trends highlight that livestream shopping has become an effective tool for driving holiday purchases and engaging audiences. Through live video shopping, this trend brings excitement to buying products, discovering influencers, and connecting with brands, increasingly positioning it as a mainstream shopping experience.

Livestream Shopping: A Growing Holiday Strategy

Live commerce, a recently popular shopping approach, combines entertainment and purchasing, allowing audiences to watch, interact, and buy in real-time. This strategy aligns well with the holiday season, when consumers seek exclusive deals and new products. For businesses, livestreaming is an engaging way to promote holiday specials, sales, and product launches. By leveraging influencer marketing, companies can tap into influencers’ dedicated followers, achieving strong conversion rates and connecting with targeted audiences through a blend of social interaction and e-commerce.

Tech and Platforms: Powering Livestream Shopping

Choosing the right technology and platform is essential for scaling livestream shopping during the holiday rush. Top e-commerce companies use dedicated livestream platforms that support real-time communication while incorporating features for audience interaction, like chat functions and live polls. Seamlessly integrating Video Commerce technology with inventory and payment systems also ensures a smooth shopping experience. Platforms designed specifically for live selling offer features such as “Call to Action” buttons and product purchase options directly within the stream.

A reliable influencer marketing platform is also vital. Leading platforms offer analytics tools and social media integration, enabling brands to adapt campaigns and quickly connect with ideal influencers. This approach broadens reach, particularly among demographics that trust influencer recommendations for holiday shopping.

Talent and Influencers: Key to Successful Livestreams

Influencer marketing plays a pivotal role in livestream shopping, especially during the holidays. Selecting hosts experienced in live shopping is crucial—they’re more than just endorsers; they entertain, inform, and inspire audiences to make holiday purchases. During these events, influencers add a personal touch, creating a friendly shopping environment that feels like a recommendation from a friend. This authentic connection enhances conversion rates, as audiences are more likely to respond to recommendations from relatable figures.

To Know More, Read Full Article @ https://ai-techpark.com/scaling-livestream-shopping-during-the-holidays/

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by martech

Your brand lives (or dies) in the contact center

November 11, 2024 in Business Services

Branding profoundly shapes customer experiences. While many global brands are easily identified by their logos, jingles, or color schemes, branding extends well beyond these visual elements. It should be woven into every interaction with customers — and no touchpoint is more essential than the contact center.

As the frontline of customer engagement, contact centers significantly impact brand perception and loyalty. Yet, companies often overlook the connection between brand image and the customer service experience. By implementing a cohesive branding strategy in the contact center, businesses can use advanced technologies like AI to turn routine customer interactions into powerful opportunities to reinforce brand identity, build emotional connections, and drive growth.

The contact center should be a channel to promote your brand, not a place where customer satisfaction is compromised. Advanced conversational AI enables brand consistency by engaging callers in such natural, human-like dialogue that they may not realize they’re speaking to an automated system.

These enterprise voice assistants efficiently handle routine inquiries, such as FAQs and order statuses, establishing a foundation of trust with customers. This trust is critical to contact center success, particularly in an industry where employee turnover reached 38% in 2022. Reliable AI support helps manage workloads by handling many routine calls, allowing human agents to focus on more complex, sensitive issues that require empathy.

Conversational AI also enables hyper-personalized interactions. In today’s market, personalization is a key expectation, and forward-thinking companies leverage AI-analyzed data to tailor each customer interaction. When callers hear a lifelike AI voice, they tend to speak naturally, sharing more context about their issues and preferences. This rich data helps AI provide deeper insights into customer emotions and needs, enabling companies to tailor their communication strategies and build stronger customer relationships. Insights from these conversations also allow businesses to improve their processes, ensuring consistently exceptional customer experiences.

Contact centers have evolved from cost centers into key drivers of revenue and brand equity. This shift gives companies a unique opportunity to adopt customer-focused approaches that address caller needs while promoting brand identity. Today’s most innovative contact centers use advanced AI to become dynamic, solution-oriented brand assets, delivering exceptional customer experiences and fostering sustainable business growth.

To Know More, Read Full Article @ https://ai-techpark.com/brand-identity-of-contact-centre/

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This Holiday Season: Will AI Be a Blessing or a Burden?

November 11, 2024 in Business Services

As the holiday season nears, businesses gear up to maximize operational efficiency, enhance customer interactions, and streamline processes. Artificial intelligence (AI) has become crucial in meeting these objectives, especially when customer activity reaches its peak. However, AI’s capabilities also bring essential questions: Will it serve as a valuable ally to simplify holiday operations and delight customers, or could it jeopardize customer trust and brand reputation?

This article examines AI’s role this holiday season, highlighting its benefits as a powerful asset yet acknowledging the complexities and risks it introduces, especially with the rise of deepfakes. We’ll explore how AI influences operational efficiency, poses unique challenges, and practical ways to navigate the holiday season with AI as an asset.

AI in Today’s Holiday Season

AI’s Role in Holiday Operations and Marketing

AI has revolutionized how businesses handle the holiday rush, especially in B2B contexts. By automating repetitive processes, minimizing human error, and boosting customer satisfaction, AI-driven tools like chatbots and predictive analytics make it possible to manage spikes in demand. For instance, conversational AI enables B2B companies to handle increased inquiries, while analytics help design targeted holiday campaigns based on data.

Research shows AI-driven marketing strategies can improve response times by up to 40% and boost customer satisfaction. However, beyond response speed, quality interactions that reflect brand values are essential for maximizing AI’s potential as an ally.

Deepfakes: A New Threat This Holiday Season?

Understanding Deepfake Threats in Business

AI advancements improve customer experiences but also introduce new security risks, especially with deepfakes. Deepfakes are AI-generated media that can impersonate real individuals, posing serious threats if misused. Imagine a deepfake message from a CEO during the holiday season—such an impersonation could harm customer trust and damage brand integrity.

Deepfakes present a significant privacy and security concern, with 25% of companies globally reporting exposure to deepfake attacks. These AI-driven risks are especially concerning during the holiday season when consumers are more vigilant. One misleading video on social media can quickly undermine brand reputation.

The holiday season is a prime time for businesses to leverage AI strategically, but doing so requires caution. If applied wisely, AI can simplify operations, increase customer satisfaction, and safeguard against its own associated risks. In an era of AI-driven deepfakes and cyber threats, businesses that prioritize ethics, transparency, and security can make AI a powerful ally, ensuring their brand thrives amidst the holiday season’s demands.

To Know More, Read Full Article @ https://ai-techpark.com/is-ai-your-friend-or-foe-this-holiday-season/

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Ultimate AI Design Tools for Product Designers in 2024

November 8, 2024 in Business Services

Product design is a dynamic and ever-evolving field, continually shaped by new technologies, with AI and generative AI emerging as transformative forces. These technologies are revolutionizing how product designers approach their work, seamlessly merging technology with creativity to create innovative and user-friendly products that we interact with daily.

AI-driven design tools empower product designers to experiment with multiple design iterations, enabling them to collaborate more effectively with cross-functional teams and tackle complex design challenges. Built on advanced AI and machine learning (ML) algorithms, these tools streamline visual design processes, allowing designers to generate highly accurate, personalized visuals faster and more efficiently.

To help you navigate the best AI tools for product design, AI TechPark has curated a list of the top AI design software and tools for 2024. These platforms will help designers create product designs that are not only visually appealing but also highly functional.

Adobe Firefly

Adobe Firefly, powered by Adobe Sensei AI, is part of Adobe’s Creative Cloud suite and integrates seamlessly with popular tools like Photoshop and Illustrator. Known as one of the best AI-driven image generation tools, Adobe Firefly enables designers to manipulate and enhance specific sections of a photograph. It offers versatile features, including text-to-image generation, generative fill, text effects, and color adjustments, empowering designers to explore and enhance their creativity with AI-driven precision.

Framer AI

For newer product designers or those seeking a user-friendly interface, Framer AI is an excellent choice. This intuitive tool allows designers to create and publish website designs almost instantly using text prompts. Framer AI also offers customization options, enabling users to adjust color palettes, fonts, and even web layout content. With its simplicity and versatility, Framer AI helps designers rapidly iterate on ideas and generate visually cohesive web designs without needing extensive design experience.

With new AI design tools emerging constantly, choosing the right ones can be a challenge. However, the tools above offer unique features that harness the power of AI to automate repetitive tasks, understand user preferences, and suggest designs tailored to those preferences. By leveraging these cutting-edge AI tools, product designers can streamline their workflow, enhance their creativity, and bring innovative designs to life faster than ever before.

In 2024 and beyond, AI-driven design software will play an essential role in enabling product designers to push the boundaries of creativity and efficiency. With these powerful tools at your disposal, the possibilities for product innovation are limitless.

To Know More, Read Full Article @ https://ai-techpark.com/top-4-product-designer-software-in-2024/

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Streaming Data for Business Success: The Power of Real-Time Analytics

November 8, 2024 in Business Services

As the business world embraces globalization and faster results, leaders from top executives to data analysts and marketing managers increasingly turn to real-time analytics. This powerful tool allows them to tap into the potential of streaming data, yielding valuable insights that drive business growth.

For instance, a large manufacturing company leverages real-time analytics to predict equipment failures before they happen, boosting productivity across departments. This exemplifies the true power of real-time analytics—unlocking the potential to transform any company into an industry leader.

Real-time analytics gives you the agility and foresight needed to outpace competitors and achieve lasting revenue growth well into the future.

Key Components and Technologies

Organizations need robust analytics platforms to process real-time data and enable strategic decisions at all levels. Using data ingestion tools like Kafka and Flume facilitates smooth data transfer, while stream-processing frameworks like Apache Spark and Flink enable responsive data analysis.

For faster data access, in-memory databases like Redis are essential, along with scalable options such as Cassandra or MongoDB. Business Intelligence tools like Grafana and Tableau visualize insights, aiding communication and strategic alignment.

In today’s complex B2B landscape, real-time analytics is crucial for businesses aiming to utilize streaming data to its fullest potential.

The Future of Real-Time Analytics with Streaming Data

The integration of real-time analytics with AI and machine learning promises unprecedented agility for businesses, allowing them to prevent issues, recover quickly, and gain real-time insights into processes, customers, and markets.

Edge computing’s rise suggests that data processing will increasingly occur closer to the source, reducing latency further—a crucial advantage for industries like manufacturing, where immediate insights are necessary to prevent costly issues.

As real-time analytics matures, it will be embraced by more sectors, from logistics providers optimizing delivery routes to banks enhancing fraud detection. Current trends indicate a future rich with new Business Intelligence technologies, driven by the demand for instant data analysis. Real-time analytics is not a fleeting trend but a transformative force that will shape the future of business.

To Know More, Read Full Article @ https://ai-techpark.com/real-time-analytics-with-streaming-data/

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BeCause, CEO, Frederik Steensgaard – AITech Interview

November 6, 2024 in Business Services

Sustainability has become a key focus for many companies. What do you see as the most significant challenges that businesses face when trying to manage and streamline their sustainability data?

Without a doubt, it is the reliance on expensive, inefficient and siloed manual processes to collect and distribute sustainability data. These outdated processes produce error-prone results that can’t easily be verified and are therefore untrustworthy, which makes it difficult for leaders to make the case for sustainability investments.

And the problem isn’t just on the hotel side. Without BeCause, booking platforms that want to leverage the growing consumer demand for more sustainable travel options are also hampered by the reliance on manual data transmission. To determine whether a hotel is sustainable or not, travel booking platforms will check if a hotel has a valid eco-label. Again, without BeCause these platforms must upload that information to their database manually using spreadsheets. Apart from being error-prone, it’s also labor intensive and, as a result, happens infrequently, if at all. This means that when a booking platform chooses to display hotel sustainability information, consumers see outdated and potentially erroneous information.

BeCause automates and streamlines the entire sustainability data flow through our centralized data management hub. When hotels input their data directly into BeCause they can match it with the requirements from different certification frameworks such as Green Key. While booking platforms can automatically pull a hotel’s eco-label status in real time, ensuring their listings are always up to date.

The European Union’s Green Deal is just one of many global initiatives pushing for more sustainable practices. How does BeCause help companies navigate and comply with such regulations while maintaining efficiency?

BeCause functions as a two-way hub for sustainability data, with information flowing in and out. We achieve this by using APIs to pull data from organizations like eco-labeling bodies, giving our hotel customers access to the latest frameworks.

In the case of government regulations such as CSRD, which is a massive game-changer for companies operating in Europe, we simplify the process by identifying the relevant data points for hotels and tourism companies.   While the framework includes over 1,000 data points, not all apply to these industries.  Relying on external auditors, end-to-end, can be extremely expensive and time-consuming, often taking months to collect the necessary data points – which is something the BeCause platform can minimize and even automate in many areas as well as delegate efficiently to the relevant internal or external knowledge holders.

To Know More, Read Full Interview @ https://ai-techpark.com/aitech-interview-with-frederik-steensgaard/

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Unlocking E-Commerce Potential with AI-Powered Phygital Technology

November 6, 2024 in Business Services

The advent of AI-powered adaptive commerce is transforming B2B e-commerce for enterprises across various sectors. Beyond merely enhancing customer insights or product recommendations, AI is now driving a new approach that blends physical and digital realms—often referred to as “phygital.” By integrating AI into physical environments, B2B e-commerce firms are crafting seamless and engaging shopping experiences that bridge online and offline spaces. Here’s how AI-driven physical technology is disrupting B2B e-commerce, along with tips based on our experience.

The Rise of Phygital Experiences in B2B E-Commerce

With the rapid rise of digital transactions, B2B companies are now adapting to meet the needs of clients who value both online convenience and tangible engagement. Phygital technology combines digital interfaces and AI-driven data with physical touchpoints, offering an integrated experience. Industries such as manufacturing, retail, and wholesale are especially suited for phygital solutions, as buyers often prefer to inspect products firsthand. For example, AI-AR and AI-VR tools allow B2B firms to offer virtual product interactions, giving clients a hands-on experience even if they’re not physically in a showroom.

How AI Drives Phygital Transformation

AI plays a crucial role in creating phygital experiences, providing insights that seamlessly integrate digital and physical interactions. Here’s how AI contributes to various aspects of phygital solutions:

Predictive Analytics for Personalization: Machine learning processes vast amounts of customer data, enabling B2B firms to deliver relevant recommendations. AI can personalize in-person experiences by presenting tailored information when customers visit a showroom or virtual demo.

Real-Time Data Integration: Phygital experiences require interoperability between digital and physical realms. AI consolidates data across sources to ensure up-to-date information on stock, pricing, and offers is available to both online and in-store customers.

Enhanced Customer Service with Chatbots and Virtual Assistants: Digital assistants and chatbots answer customer questions and guide them in making informed purchases. These can be deployed online or at physical kiosks to provide consistent support.

As AI technology continues to advance, phygital experiences in B2B e-commerce will reach new heights. Future innovations, like generative AI for enhanced virtual assistance and IoT for deeper digital-physical integration, promise even more robust phygital solutions. Companies that embrace these advancements early will likely achieve a competitive edge, offering unprecedented levels of customer satisfaction and convenience. Ultimately, the future of B2B e-commerce lies in balancing the tangible engagement of traditional sales with the efficiency of digital platforms. Phygital technology, supported by AI, will boost client satisfaction, drive sales, and streamline operations—ushering in a new era for B2B e-commerce.

To Know More, Read Full Article @ https://ai-techpark.com/revolutionizing-e-commerce-with-phygital-technology/

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by martech

Fuse the Power of AI and Data Management to Unlock Business Value

November 4, 2024 in Business Services

Today, enterprises find themselves on the cusp of a transformative era, poised to unlock unprecedented business value by harnessing the full potential of AI. According to McKinsey, 44% of companies implementing AI report reduced operational costs, with many also experiencing revenue growth. However, successful AI adoption and modernization involve more than just deploying the latest technologies.

To achieve meaningful AI integration, organizations must first deeply understand their existing processes and pain points, establish robust data management practices, and align AI capabilities with broader business objectives. This approach enables improvements in efficiency, accuracy, cost savings, and compliance, empowering companies to excel in competitive markets and maximize AI’s impact and return on investment.

The Foundation: Data

Quality data—accurate, accessible, and up-to-date—is crucial for successful AI. Machine learning algorithms, which drive AI applications, rely on high-quality data to learn and adapt. Therefore, master data management (MDM), which centralizes, organizes, and enriches data, along with data governance, is critical for powering AI initiatives.

To get started, organizations need a well-defined data management and governance strategy, including a clear vision, standards, and a structured approach through data quality roadmaps. Assigning roles and responsibilities for overseeing these processes ensures adherence to data policies and best practices.

Business and technology leaders must uphold these guidelines to establish consistency across data management, meeting regulatory requirements and industry standards. This governance framework promotes data transparency, builds trust, and mitigates risks tied to data inaccuracies and security breaches. It also prevents common issues like duplicate records, which can harm customer experiences and lead to compliance challenges.

Maintaining a unified, accurate view of data—a “golden record” for customer information—supports informed decision-making. A strong master data governance framework strengthens brand transparency and trust, enhancing customer loyalty and uncovering new opportunities. Clear responsibilities for data management enable organizations to proactively uphold data quality standards and avoid costly errors, both financially and reputationally.

Thriving in an AI and Data-Driven Future

AI has already transformed numerous aspects of business, and data-related functions are no exception. The push toward using AI for business value reflects a significant shift toward data-driven innovation, with operational excellence soon becoming an imperative. By strategically leveraging AI’s potential, companies can elevate efficiency, customer experiences, and market leadership. With reliable data as the foundation, businesses are well-prepared to navigate the complexities of an AI-powered world.

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Top 5 Data Analytics Tools That Defined 2024

November 4, 2024 in Business Services

Throughout 2024, data analytics continued to play a crucial role in driving data-based decision-making for B2B companies, while investment in advanced data technologies surged. These new tools offer deeper insights, predictive capabilities, and more sophisticated analytics to improve governance. The tools listed below are equipped with powerful features across BI, predictive modeling, natural language processing, and governance, reshaping the landscape of B2B data analytics.

Here are our expert reviews on the top five data analytics tools that defined 2024 and how each one can help businesses leverage data more effectively.

Tableau — The Visualization Expert

Overview:

Tableau is another leader in data visualization, helping organizations transform data into engaging visuals. Its drag-and-drop functionality makes complex datasets approachable and visually engaging.

Key Features:

Advanced Visualization Options: Offers a wide range of visualizations, from dashboards to interactive graphics.

Real-Time Analytics and Data Storytelling: Enables data-driven decision-making on the fly.

Enterprise-Grade Scalability: Designed for large datasets, ideal for big data projects.

Use Cases in Predictive Modeling:

B2B companies use Tableau’s predictive capabilities for forecasting trends and customer segmentation. Marketing teams, for example, can predict customer churn based on historical behavior.

Specialty:

High scalability and interactive storytelling features make Tableau ideal for companies relying on real-time analytics for strategic decision-making.

The best data analytics tool depends on a company’s specific needs, such as scalability, integration ease, and advanced analytics like NLP or machine learning. Tools like Power BI and Tableau lead in visualization, while Looker Studio offers a seamless cloud-native experience. SAS shines in compliance-focused environments, and ML tools offer robust predictive capabilities.

As we look to 2025, AI-driven analytics, real-time decision-making, and embedded data tools are set to continue their rapid growth. Each of these five tools laid the groundwork in 2024 and will continue shaping the data analytics landscape in the years ahead.

To Know More, Read Full Article @ https://ai-techpark.com/top-5-data-analytics-tools-2024/

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AITech Interview with Danielle Supkis Cheek, VP, Head of Analytics and AI at Caseware

October 30, 2024 in Business Services

In your experience, how can AI make the roles of professionals in auditing and accounting more meaningful and impactful?

We’re currently grappling with a significant backlog of work and increasing pressure to do more with less. Simultaneously, we’re facing a pipeline problem – retirements are outpacing the influx of new professionals.

AI is proving to be a vital tool in bridging this gap. It’s allowing firms to train new audit and accounting professionals faster and more effectively, enabling them to acquire a broader knowledge base in a shorter time frame. This is crucial because there’s a wealth of institutional and professional knowledge held by retiring professionals that has traditionally been difficult to impart to first and second-year staff due to its sheer volume and complexity.

This shift is crucial for the future of the profession. It’s making accounting and auditing more attractive to new talent. As we face the challenges of losing staff and increasing workloads, embracing AI isn’t just an option – it’s becoming a necessity for the future of accounting and auditing.

As AI continues to evolve, what steps should professionals in audit and accounting take to prepare for the integration of AI into their workflows?

I think it’s essential that firms conduct a comprehensive AI inventory within their organizations. This isn’t just about knowing what AI tools we’re using; it’s about understanding where AI fits into our risk profile, particularly in light of upcoming regulations like the EU AI Act.

Transparency is key in this process. I’ve noticed that many vendors are incorporating AI into their products, but not all of them are accustomed to the level of rigor and transparency that professional accountants are expected to maintain. I strongly recommend that firms centralize the approval and management of AI technologies. This aligns with quality management standards and ensures that AI tools are being deployed and used in a safe, controlled, and consistent manner.

Given your involvement with various AI task forces, what ethical considerations should be top of mind when implementing AI in auditing and accounting?

It’s crucial to remember that using AI doesn’t absolve you of your ethical responsibilities. You must never subordinate your judgment to others, including AI. This is a fundamental ethical expectation of any auditor or accounting professional, and it applies even when using advanced technologies. You can rely on AI for assistance, but you must always understand what you’re doing and take responsibility for the results. The involvement of AI doesn’t change that.

In fact, ethical standards have doubled down on this responsibility. The International Ethics Standards Board for Accountants (IESBA) clearly states that professionals must take accountability and responsibility for the output generated by AI, and there are specific ways to ensure this happens. Whether through rigorous testing, validation, or oversight, you are still the one ultimately responsible. The key ethical point here is that you don’t blindly trust anyone—or any machine—today, and that remains true with AI. It’s essential to ensure that, even with AI, you maintain professional judgment and oversight.

To Know More, Read Full Interview @ https://ai-techpark.com/aitech-interview-with-danielle-supkis-cheek/

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