Impact on purchases and commerce
The impact of MCs on purchases and commerce cannot be ignored. As we evaluate market opportunities presented by this emerging trend, it is important to understand the implications and potential benefits that MCs bring to businesses and consumers alike.
The rise of MCs, which refers to the use of AI and machine learning in consumer interactions, has revolutionized the way businesses operate. These intelligent systems have the ability to analyze vast amounts of data, predict consumer behavior, and provide personalized recommendations, ultimately enhancing the overall shopping experience.
Machine learning models such as collaborative filtering and content-based filtering are key in predicting consumer behavior and providing personalized recommendations. Collaborative filtering uses user interactions (e.g., ratings, purchase history) to suggest products based on similar users’ preferences, with algorithms such as k-NN playing a major role....
