Discover how AI technology is revolutionizing the trading landscape for small EMDE traders. Uncover the game-changing potential of artificial intelligence in optimizing strategies and driving success.
E-Commerce has dramatically improved the lives of many in the West. Thanks to advances in technology, traders can now buy and sell goods far more quickly, efficiently and securely than ever before.
But not everyone has been able to benefit from these new technological capabilities. Millions of businesses in emerging markets and developing economies (EMDEs) have been locked out of E-Commerce, often because they don’t speak the same language as the finance or technology provider offering that solution. Or, in other cases, adoption of the technology has been far too slow to be effective.
Also Read: How Does Event-driven Architecture In Hyper-automation Help Your Business?
This puts them at an immediate disadvantage, given that the global E-Commerce market is expected to peak at $3.65 trillion in 2023, according to Statista. That means that as companies in developed countries continue to prosper, those in EMDEs will only fall further behind.
So how can their future prospects be improved? The answer is through the use of artificial intelligence (AI).
How AI can unlock Open Commerce’s potential?
AI comes in many different forms. But essentially there are two types that can improve the fortunes of EDME traders: generative and conversational AI.
Generative AI
Almost everyone has heard of ChatGPT and its capabilities. Along with Google Bard, Midjourney and many others, this form of generative AI is designed to create new and unique content.
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