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Mirakl integrates generative AI-powered tools

Wednesday 14 June 2023 14:07 CET | News

SaaS solution Mirakl has integrated generative AI-powered tools into its platform with the launch of a Large Language Model (LLM) feature built on OpenAI’s GPT-3.5.

 

Mirakl’s move to integrate generative AI into its suite of solutions seeks to unlock new levels of scalability and operational efficiency, with the addition of the LLM feature believed to help enrich the data quality of product catalogues of Mirakl-powered platforms.

Mirakl’s generative AI-powered tools and what they mean for ecommerce

Based on the information detailed in the announcement, the new technology is set to assist retailers, wholesalers, and manufacturers with improving their conversion rates on their ecommerce websites, bettering the customer experience, and increasing sales, while also complying with forthcoming regulations of the likes of the EU Digital Services Act.

The technology leverages AI and LLM to:

  • Improve and increase the completeness of product datasheets by extracting attributes from titles and descriptions.

  • Standardise product data across different geographies and languages by converting units and translating text content.

  • Optimise product content to grow conversion by rewriting titles and descriptions for products across first-party, marketplace, and dropship assortment.

This will help Mirakl expedite the process of onboarding new clients and assist them with managing their product range in an increasingly efficient manner.

Mirakl integrates generative AI powered tools

When talking about being a part of the platform economy, for any business it means being able to operate at an entirely different level of scale, as when launching a marketplace or dropship activity, a retailer or B2B player is increasing its assortment by 10, 20, to 50 times, something that should not happen at the expense of the consumer experience, security, or safety.

AI helps enable quality at scale as it analyses extensive data amounts, recognises patterns, extracts meaningful insights, and makes predictions, attributes that are believed to make AI an essential component of successful platform businesses.

Mirakl is at the forefront of leveraging AI for ecommerce, having invested in three key pillars with its proprietary models:

  • Automate: AI-powered product data-mapping (category auto mapping, product auto recategorization) helps align supplier content with an ecommerce operator’s taxonomy and business rules, expediting the onboarding of new catalogues from third-party suppliers tenfold.

  • Enhance: customer care intelligence uses AI-powered sentiment analysis to flag customer messages that require immediate attention, which helps reduce incident resolution time by 90%.

  • Accelerate: increasingly personalised product recommendations help boost ecommerce conversion rates by 15%.

The product enrichment capability built on OpenAI comes as the first planned to Mirakl’s suite that is set to leverage generative AI to provide higher-quality data at scale for ecommerce operators.

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Keywords: product launch, LLM, artificial intelligence, ecommerce, merchants, platform, marketplace, generative AI, fintech, data analytics, retail, compliance, online shopping, machine learning
Categories: Payments & Commerce
Companies: Mirakl
Countries: World
This article is part of category

Payments & Commerce

Mirakl

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