Generative AI will remain at the top of every CEO’s priorities in 2024. Automation and efficiency are just some of the benefits that can be gained by incorporating AI into your business strategy.
How can companies that want to invest in AI to gain a competitive advantage differentiate themselves?
The reality is that computing power has already been commoditized by companies like Google and Nvidia, and with advances like Open AI, Mistral AI, etc., modeling will soon follow. At Mirakl, AI is not the latest buzzword. Our Company And that Products we make We have been working for many years to make a meaningful impact on our customers.
Introducing AMI: Artificial Intelligence
For the past six years, Mirakl has been leveraging cutting edge AI to bring meaningful impact to each of our products. Mirakl's Artificial Intelligence (AMI) combines perfectly tuned Large Scale Language Models (LLMs) with best-in-class 3rd party AI technologies such as OpenAI and Mistral AI.
As a result, in just a few weeks, we released the ecommerce market's first generative AI capabilities in partnership with OpenAI. AMI, which means “friend” in French, represents our partnership with our customers to easily share data at scale across our network of merchants and advertisers.
How AI impacts the Mirakl product line
1. Automate supplier catalog onboarding
AMI converts any supplier catalog in one click, making Mirakl catalog onboarding the fastest and most flexible solution on the market. Our catalog transformer can ingest messy supplier catalogs in any format (API, EDI, XML, directly from the seller's e-commerce platform, etc.) and standardize the data into the retailer's or distributor's format and taxonomy in one click. This feature uses AI to automatically convert and map categories and attributes.
Marketplace alternatives require manual or static rule-based mapping of retailers' and distributors' needs, consuming time that could be spent on more meaningful activities. With AMI, results are ready within 24 hours without manual intervention.
Jonathan Attali, chief digital officer at fashion apparel retailer Zadig & Voltaire, said Miracle's tools will reduce the cost of selling through new channels.
“Other feed management solutions typically require an upfront investment of $100,000 and four months to sell in a new channel, which inhibits expansion,” he says. “Catalogue onboarding accounts for the majority of this cost.” Zadig & Voltaire is a seller on the Mirakl Connect marketplace network.
2. Speed up customer care ticket resolution
Is customer care resolution a bottleneck for your marketplace business? AMI reduces customer care incident resolution time by 90% on the Mirakl platform. While other solutions on the market require marketplace sellers and operators to manually sift through thousands of customer care cases without prioritizing them, Mirakl's Customer Care Intelligence feature uses AMI to perform automated critical scoring and sentiment analysis.
3. Create more relevant ad campaigns
Customer experience is paramount to a successful retail media program. Mirakl Ads is built to deliver the most personalized and relevant ads, leveraging AMI. Our algorithms look at the relevance of search keywords, product data, category context, and customer behavior and preferences before even looking at bids to ensure the right products and content reach the right customers.
Additionally, ads are automatically optimized through AI to deliver the best possible yield and return on ad spend (ROAS) for publishers.
These capabilities helped Maisons du Monde achieve 70% of its annual advertiser recruitment goal within five months.
“Mirakl Ads has made it incredibly easy for our merchants to start advertising on our platform. Everything is seamlessly integrated and self-service. Advertisers tell us they are seeing a better return on investment than other sites they advertise on,” says Olivier De Rocca Serra, Marketplace & B2B Director at Maisons du Monde. “We evaluated other competitors but none could match Mirakl's features and pace of innovation. We didn't find a big gap in the market or a better alternative, so Mirakl really stands out.”
How AI is driving Mirakl's internal approach to helping its clients grow
In addition to integrating AI across Mirakl products, integrating AI across the business to streamline processes and ensure high-quality output is also a priority for Mirakl. Mirakl is also pleased to announce that it recently hired a Chief Data and Artificial Intelligence Officer to continue to drive the use of AI across the organization.
AI has been a central pillar of Mirakl’s business strategy for many years, enabling it to be more ambitious in how it supports retailers and B2B companies around the world at scale.
