AI Business Integration: Making New Tech Work for You
Why integrate AI into your business?
From FinTech to SaaS, I’ve gathered use cases for integrating AI into your business based on specific industry categories. However, you could apply most, if not all, of the below across multiple business types and industries.
Ecommerce (Drive Your Pricing Strategy)
Back in December 2023, I had the pleasure of interviewing a bunch of Amazon sellers. I wanted to understand how they were using AI for their Amazon stores. Multiple sellers cited use cases like text and product optimization alongside improving efficiency through automating admin tasks.
My favorite reason for using AI in ecommerce is competitive pricing. Why? In 2024, Statista found the global online cart abandonment rate to be over 70%. Yikes! And since sticker shock is a driving factor in cart abandonment, competitive pricing should be on your radar.
In Action
Amazon sellers like Rahul Paragi (who I interviewed for the above piece) use AI-powered repricing software to ensure their prices remain competitive. Paragi explains that the algorithm “adjusts prices based on competitors’ pricing, sales, inventory data, marketplace trends, and custom profit goals.
“Meanwhile, another seller, Gil Clark Jr., says repricing tools are “a game-changer, automatically adjusting prices to stay competitive while maximizing profits.
