E-commerce giant, eBay, has said that it intends to use AI to increase the level of competitiveness of its sellers.
According to the company’s president, Devin Wenig, the new pricing and inventory AI system that the company intends to implement will be a revolutionary offering to the businesses that sell on eBay.
‘We have been working on a number of AI-based solutions for a long time with the intention of helping our sellers to leverage on market dynamics and make the best out of the system,’ the CEO said in a post published on the website of the company.
The new inventory and pricing AI solution is expected to be integrated into the more than 30 domains of the company.
Under the new system, sellers will be able to detect trends in the market and adjust their process accordingly. The new system has been said to automatically inform sellers of the trends in demand for particular products and make appropriate price recommendations for the products.
It appears that the new AI system is meant to help cushion sellers against the harsh dynamics of the market.
In some instances, sellers on eBay, who are mainly small and medium-sized companies located in various countries around the world, have failed to take advantage of spikes in demand by using inappropriate pricing plans.
However, it is expected that the new solution will help sellers match their supply to the current trends in demand for their products. Also, given that the new system automatically recommends pricing plans to the sellers, it is expected the system will solve the problem of poor pricing that many sellers have been facing.
Apart from predicting shifts in demand and recommending prices, the new AI-powered system of eBay is set to help the sellers promote their products on various platforms. Currently, the eBay ShopBot, a special bot program that helps to advertise the products of eBay sellers on various social media platforms, in the beta stage. It is expected that this bot will help sellers place highly targeted advertisements about their products on carefully-selected social media sites.
The new system also helps sellers to upload highly refined images of the products that they are selling, thus helping to improve the overall appearance of the posts that eBay sellers make on the site.
The eBay CEO added that the company is committed to using AI to not only improve its service offering but also to make things easier for its partners.
