AI or Artificial Intelligence is present in every aspect of our lives; it is omnipresent. Technology offers tremendous potential to better our lives.
Every business is getting smarter, from small startups to conglomerates due to the Intelligence Revolution. Some popular applications of AI are AI assistants, AI-enabled healthcare, and social media. The instances of where it’s being put to use will only increase. Meanwhile, let us have a look at some successful implementations of AI :
The apparel giant provides an app to help shoppers create their look when shopping for a product. When a person visits Adidas e-store and is looking at a garment, recommendations are provided for a complete outfit, based on that customer’s previous data and preferences.
This service initially was highly ineffective on the vendor’s end before AI deployment. Every item had to be manually inputted into the system, which impacted employee productivity and caused problems in the warehouses. By leveraging AI to improve e-commerce and increase sales of complementary products, Adidas increased the number of submitted clothing by 960% and decreased the time needed to submit it by 95%.
IKEA is acknowledged for two things: simple designs and innovative strategies for living. Now, the organization is relying on AI-powered VR for its augmented reality app. The app enables consumers to design their houses by placing the 3D furniture around the house and test the space. Hence, they can view how a piece of furniture would look like in their home, all at the comfort of their home.
Asset Management One International
The Chinese giant Asset Management One International joined the AI revolution by launching an AI Deep Learning Global Equity fund.
The fund uses Deep Learning and AI techniques to invest across the global market, using an algorithm to simulate the human brain. The portfolio is constructed using an optimizer that aims to generate stable returns and outperform the MSCI ACWI index.