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JAM SESS10N - AI EDITION: How AI is changing value creation in digital commerce

Written by Juliane Ehmke & Benjamin Grycan-Raap

The most important facts in 20 seconds
  • (Generative) AI has the potential to fundamentally change the commerce value chain and the associated customer experience.
  • Practical use cases show this: AI helps organizations to achieve clear added value in the areas of content creation, product development, personalization, customer service, pricing and marketing, sales & CRM.
  • Companies that are just starting out with AI should initially focus on "simple" applications from which they expect the greatest added value.
Agenda

 

The AI revolution has already begun in digital commerce. From content creation and product development to personalization and customer service, as well as pricing, marketing, sales, and CRM, smart AI solutions have the potential to fundamentally transform the commerce value chain and the associated customer experience. Our "JAM SESS10N - AI EDITION"  as part of our main event THE SESS10N on October 16, 2024 in Stuttgart - therefore also focused on the specific opportunities offered by AI and where it is already being used successfully.

 

(Generative) artificial intelligence has the potential to fundamentally change the commerce value chain and the associated customer experience.

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Generative AI: the game changer in digital commerce

 

Generative AI offers digital commerce companies many options for creating content, such as text-to-image conversions (including OpenAI with DALL-E2, Stable Diffusion, Midjourney) – and smart SaaS models are making it increasingly easy to integrate this content. This opens up additional opportunities for digital commerce to create high-quality and attention-grabbing content for the customer journey. For example, to reduce the drop-off rate in the user journey, optimize marketing and increase the relevance of their own offers. The following practical examples show in which areas of application generative AI already provides great added value:

 

ABOUT YOU: Highly personalized shopping experiences for customers

 

With generative AI, the fashion online shop ABOUT YOU creates highly personalized shopping experiences for its customers and ensures an all-round improved customer experience through an individual and appealing online shopping environment. Conversational commerce and AI avatars also push customer relationships. At the same time, ABOUT YOU uses generative AI to set a new standard for cost efficiency and user interaction.

 

Klarna: Automated and personalized customer service

 

The Swedish payment provider Klarna is optimizes its customer service based on generative AI with a deeper understanding of customer concerns, improved personalization based on this and, as a result, clear efficiency gains. Two-thirds of all customer service conversations or chats were already conducted by an AI in the first month. Thanks to the accuracy, the number of repeated requests has fallen by 75% and the average time taken to solve a problem using AI has fallen from 11 to 2 minutes – and that with the same level of customer satisfaction as when processed by human employees.

 

AI-generated product videos for greater reach and customer loyalty

 

The combination of generative AI and video production techniques makes it possible to create dynamic video content that can be quickly and perfectly adapted to the needs of different target groups. The tailored approach can significantly increase the conversion rate. At the same time, target group-specific product videos offer the opportunity to strengthen one's own brand identity by clearly differentiating the company from the competition.

 

AI chatbots and assistants for greater customer satisfaction

 

AI chatbots and assistants offer companies a wide range of internal and external applications, from the classic chatbot in customer or employee service to content creation and sales assistance. Our in-house developed AI chatbot "Dicobot", for example, is the first point of contact for all possible questions from our users on the diconium website. It can be used to handle individual customer enquiries, provide personalized recommendations and conduct more complex conversations on an individual basis.

 

The first steps towards AI success

 

In our co-creation with the Hamburg-based JAM SESS10N, it quickly became clear that there are many potential AI use cases. However, the all-important question is: which AI fields of action are best suited for your own company and offer the greatest added value to further drive business success? Before using AI, companies face the major task of defining their specific goals and use cases in order to proceed in a structured and targeted manner. Our pro tips:

 

Our pro tips:

Identifying the right use case: Identifying and selecting the right use cases is a major challenge for many companies. The first step should be to identify specific areas and fields of action in which AI can be most effective. By taking a systematic and strategically sound approach, companies can ultimately select the right use cases and lay the foundation for a successful AI implementation.

 

Start with less complex AI projects: Companies should initially focus on a few AI use cases that are comparatively "simple" and can therefore be implemented quickly. Small pilot projects offer them the opportunity to gain initial experience and valuable insights within the team and company. Over time, the impact on value creation can be gradually increased to achieve the greatest possible AI success.

 

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Bringing AI knowledge into the teams: By ensuring an open mindset for collecting ideas and developing helpful and comprehensive AI solutions, AI can be used more intensively by all employees in the company. After the first AI successes in the company, more complex and elaborate AI projects can be identified, planned and implemented over time. 

 

In the end, the "JAM SESS10N – AI EDITION" has shown one thing above all: AI is here to stay. Now is the time to take advantage of the great potential of this new technology!

You can find more tips and information about the value-adding use of AI in your company at THE SESS10N on October 16, 2024 – with exciting speakers, co-creations and more.

 

Join THE SESS10N

 

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