Artificial Intelligence helping consumers make smarter choices

AI와 온라인쇼핑과 투자

With the evolution of artificial intelligence and robotics, you may wonder how our everyday lives are changing.
As consumers, we are already using some of these developments to shop and bank more efficiently.
Oh Soo-young provides a glimpse of more AI convenience to come.
Whether you’re shopping online for clothes, groceries or a gift, you could browse aimlessly for hours if you don’t already know what you’re looking for.
That’s why online retailers in Korea are working to upgrade their services to help customers get the most out of their shopping experiences — with the help of artificial intelligence.

“When you’re out and about, you might see a jacket or a top you like but don’t have a way to check the label. Well, with this app, all you have to do is take a quick photo.”

Simply press the search bar and select the image option.
Then, take a photo and specify which piece of clothing you’re looking to find… and the app will produce a list of items with the same or similar features.
Another easy way to find the best product for yourself… is the app’s voice recognition service.

“Show me some popular gifts for a girlfriend.”
It not only picks up the words you’re saying, it understands your questions and makes recommendations.

The app also allows customers to track a delivery, check membership points and look up questions and answers.

“Where is the product that I ordered?”

“This year, we’re aiming to provide most mobile shopping services, like ordering and paying for purchases, through voice recognition. Also, we’re planning to expand our image search service so it can recognize all objects and text.”

It’s not just online shopping.
The financial sector is also incorporating artificial intelligence.
This investment bank recently released a fund that’s designed to achieve an eight-percent return with far less volatility than average products.

“This AI system, … a systematic system with an algorithm built and of course that needs to be upgraded over time continuously. I think this will be able to provide investors with much better trust because the volatity itself will become much less.”

Experts say AI-based products are increasing in number and diversifying as we speak.
The voice recognition and AI software industries are expected to grow to 3-point-6 billion and 2-point-9 billion dollars, respectively, by 2020.

“In the future, robot-advisors and other AI-based services will expand to most sectors and be applied in corporate decision-making. Companies and universities developing relevant technologies need active support as well as a stronger legal configuration to help pave the way for the creation of new services.”

The expansion of artificial intelligence is already helping people in Korea make more informed purchases and investments… and its advance is expected to keep making commercial services faster and more convenient.
Oh Soo-young, Arirang News.

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