16/04/2024 | Press release | Distributed by Public on 16/04/2024 19:46
There's no denying that in the age of social media, we have become a visually-driven society.
But did you ever imagine that typing a simple, five-word prompt into your computer could make a completely computer-generated image in less than 60 seconds?
This is reality now, and it's just one of many ways that Artificial Intelligence (AI) and Augmented Reality (AR) technology can be applied. For the average person, these technologies are a fun tool to play with (who hasn't wanted to see what they would look like riding a unicorn off into a fireworks show?)
But for the world of e-commerce, AI and AR technology bring a whole new dimension to the visual side of your business.
Two major innovations of AI for e-commerce are virtual try-on technology and AI product photography. In this article, we'll explore how these technologies came to be, how AI is transforming the world of e-commerce, and how you can use it to your advantage as you grow your business.
Within the past few years, many businesses have incorporated User-Generated Content (UGC) into their marketing strategies. Rather than the brand or organization creating content to post, users of a platform like Instagram or TikTok create content that promotes the brand, in the form of reviews, comments, photos, videos and social media posts.
UGC is often seen as more authentic and trustworthy than branded content, as it is created by real customers who are sharing their genuine experiences rather than a blatant attempt by a brand to convince you to buy their product.
With the rapid growth of AI technology, a new generation of UGC has unfolded: AI-generated content (AIGC.) Ranging from AI video generation and writing to AI voice synthesis, this technology unlocks enormous potential for use by businesses.
Gartner, a leading technological research firm, predictsthat generative AI will enter a production maturity period (a.k.a., reach its full potential) within the next 2-5 years, which is indicative of huge growth for AIGC within that same time frame.
According to BusinessDIT, AI-enabled e-commerce solutions like AIGC are estimated to be a $16.8 billion by 2030. As of right now, 51% of e-commerce companies already use AI to improve their customer experience.
If you're not already using AIGC or AR technology for your business, you might feel behind the curve. Read on for the key ways these tools can help you rise above the competition and keep winning in e-commerce for years to come.
Those dark, grainy iPhone photos might have been okay when you were running your business out of your mom's basement, but now that you're trying to establish a presence in the e-commerce space, they just aren't cutting it anymore.
But hiring professional models can be expensive, not to mention time-consuming. Plus, you run the risk of investing resources in a photoshoot only for it to not come out exactly like the vision in your head.
Today, there's another tool at your disposal - AIGC.
AI has a few advantages that can enhance traditional photography. Rather than being limited to the concept and photos from one shoot, you can produce hundreds or thousands of product images in a fraction of the time it would take to organize a single traditional photoshoot (this also makes AI-generated photography more cost-effective.)
Additionally, the accuracy of the algorithms used by these AI tools ensures that every image maintains a consistent quality and style, which is incredibly challenging to achieve in DIY photoshoots.
Built on AR technology, virtual try-on capabilities give your business a competitive edge, and by allowing your customers to see what your product would look like in their lives before they make a purchase, they can spell a huge value-add for consumers.
Essentially, virtual try-on technology uses computer vision and machine learning algorithms to allow users to see how a product, such as clothing, eyewear or makeup, would look on them without physically trying it on.
Companies like Amazon have also used similar technology for items like furniture - using the camera on your smartphone, you can see how the bookshelf in your cart would look in your living room, in real-time.
You don't have to be particularly tech-savvy to access these solutions, either. They're available in AR frameworks like Apple's ARKit & RealityKit or Google's ARCore.
For instance, ARCore combines the virtual and real worlds using a smartphone's camera features like motion-tracking, environmental understanding, and light estimation.
There are numerous benefits to implementing virtual try-on for your e-commerce business.
One common fear is that brands that use AI technology for their e-commerce businesses will lose their sense of humanity and authenticity.
There are a few ways to combat this:
Warby Parkeris one example of a brand that has done an excellent job at incorporating both AI and AR technology while maintaining an overall authentic, human brand experience. The eyewear brand's website and app allow customers to try on Warby Parker's frames and see how they would look on their faces. But they've also maintained a strong human element through warm, personal branding, and their Home Try-On option.
Not that we know of . . . at least, not for that express purpose.
That's why Nogin is here to help. We know that thanks to the ever-evolving nature of the e-commerce world, it can be tricky to navigate - and there's no rulebook for evolving along with it.
We want to help you decode AI technology and show you how successfully implementing AI can keep your business ahead of the curve.
To find out more, set up a free introductory convo with one of our Nogin experts. We can't wait to meet you!