As a retailer, JD has run its business with the power of technology. That’s made it an attractive partner for brands looking to move into China, or expand their reach within the country. That’s what brought Philips to the company, and together they will be applying artificial technology to learn about brand performance, consumer actions, and develop strategies with respect to a dynamic market. They made this partnership in Shanghai last month, at the World Artificial Intelligence Conference.
How useful is JD’s AI in retail? It’s been used to reduce time spent analyzing data. Structured data can be searched fairly easily, but it still requires time and people to go through it. Unstructured data is harder because of the nature of the data. Video, social media, advertising materials, and other media are more difficult to break down and assess requiring even more time. With machine learning, JD can move much faster through either data types. Then users are grouped based on that assessment, then forecasts can be drawn up to project what they might do next.
With vision technology, JD gains insight into the effectiveness of any given advertisement. Images and video appeal to different groups, and can be a factor in getting user to stop browsing and commit to a purchase. This is information JD uses to inform on design decisions, refine the user experience on their platforms, and brands like Philips can work with them to learn how to present themselves better to Chinese consumers.
In a statement from Vice President of JD.com, and President of JD AI, Bowen Zhou, connecting with users through technology is a guiding ambition for the company. Zhou stresses that the data collected from JD’s AI provides them with an opportunity to improve all they can for customers and at the same time give brands the tools to increase appeal while reducing cost.
While AI is a benefit for customers and partners alike, JD sees a bigger future outside of retail. During this years “WikiHop” event, their AI came in 1st in reading comprehension. It outperformed every other platform there, even humans. Zhou sees a more nuanced future for their AI, one that goes beyond retail and into numerous industries.
Contact JD.com: www.nasdaq.com/symbol/jd/real-time