SAP Emarsys has announced the launch of its innovative AI Product Finder. The tool has been developed to radically alter the way brands recommend products and customise their customer experiences.
This development comes as Australian consumer demand for AI in commerce intensifies, with data indicating that 47% of shoppers believe artificial intelligence has ameliorated their retail experiences, a substantial increase from 37% just a year earlier.
Generative AI takes centre stage in multiple industries, and SAP Emarsys affirms its commitment to AI through the announcement of this new suite of AI tools. These are expertly designed to empower marketers, supported by fresh proprietary research into AI. Their study found that of over 2,000 Australian consumers and 251 marketers, 36% of consumers believe that AI has simplified their shopping experiences.
Furthermore, around 32% feel that AI is enhancing the personal aspect of their retail experiences, whilst 40% state that AI assists them in discovering new products, a rise from 35% in 2023. With these benefits becoming more widely recognised, 43% of shoppers are expressing a desire for increased integration of AI into retail.
It's not just consumers who stand to gain. An impressive 76% of Australian marketers have increased their AI investment in this year. Among these, 77% credit AI for expanding customer engagement, while 72% report a increase in customer loyalty due to AI. A prime example of this is provided by Justin Bausch, CRM Manager at Ryderwear. He declared, "Without the use of Emarsys AI Segmentation, we would be guessing our marketing activity... Relying on smarter technology, data, tech to provide our customers with a more relevant and effective experience."
The AI Product Finder isn't only a game changer for customers; it's also a valuable tool for marketers and retailers. It enables an intuitive search of a brand's extensive product catalogue. The result is an easy method to swiftly identify and incorporate the most suitable products into their campaigns. The new Product Finder allows marketers to suggest relevant products, simplifying their jobs and making campaign creation more efficient. The helped them curate better product content that improves message relevancy and engagement.
"We are committed to an AI strategy that is trustworthy, ethical and empowering marketers to explore new realms of possibility in today's marketing landscape," stated SAP Emarsys Chief Revenue Officer, Thomas Harris. Emarsys' goal is to streamline complex tasks, ensuring clients can focus their resources towards better ROI and enhancing customer satisfaction.
The company has also pledged its support for the EU AI Act, recognizing the importance of customer privacy and trust. Thomas Harris commented on the commitment, "Customer privacy and trust is at the centre of all our AI developments... SAP Emarsys has responded with our commitment to uphold the highest standards of effective, efficient data privacy and voice our support for the EU AI Act."
A pilot programme for the AI Product Finder is now open for all customers of SAP Emarsys who are interested in experiencing its benefits.
