70% respondents view AI as vital for e-com evolution: Harvard report

Businesses who are already using AI are reaping significant rewards, as 69 per cent of survey respondents report improved efficiency and speed of work as a direct result of implementing AI, said the report titled ‘AI: The Secret to a Thriving E-Commerce Business’.

The study showed significant obstacles remain to widespread adoption. These include data privacy concerns (cited by 55 per cent of respondents), a lack of talent with necessary AI expertise (49 per cent), and the absence of a clear AI strategy (48 per cent).

The report recommended strategies for boosting AI and generative AI adoption in e-commerce: appoint dedicated AI leadership, prioritise clean and well-governed data to address privacy concerns, integrate human oversight for accuracy, invest in employee upskilling, and adopt a phased approach by starting small and scaling gradually to build expertise and manage risks effectively.

"The report underscores what we hear every day: AI is no longer a 'nice-to-have' but a 'must-have' for e-commerce success. To deliver the personalised experiences customers crave while also driving operational efficiency and growth, organisations must prioritise implementing AI-powered platforms and solutions that enhance every aspect of the digital journey," said Sheila Morin, chief marketing officer (CMO) at Coveo. "We are no longer in the experience economy — we have moved into the AI-experience economy, where leveraging AI is essential for staying competitive and delivering meaningful, scalable customer experiences."

"The true power of AI in e-commerce lies not in replacing human interaction, but in enhancing it. AI-powered shopping assistants can handle routine queries, allowing staff to focus on complex, high-value customer interactions," said Ritu Bhargava, president and chief product officer, SAP Industries & Customer Experience.

Fibre2Fashion News Desk (SG)