India's largest platform and marketplace for GCC & AI leaders and professionals

Sign in

India's largest platform and marketplace for GCC & AI leaders and professionals

3AI Digital Library

Ecommerce trends, buying behavior & online platforms – Journey, Reflections & Perspectives

June 6, 2021

Dipayan Chakraborty
Ex-Analytics Head – Myntra, Flipkart

In 1995, the first item ever was ordered online on Amazon – a book. 25 years later, Global B2C eCommerce sales amounted to nearly $4.53 trillion in 2020 and these figures expected to nearly double by 2023. If anything, we’re likely to see an even bigger increase in sales than predicted by these pre-COVID-19 estimates, as eCommerce sales have seen massive growth and transformation since early 2020. The pandemic has had an immediate impact on buyer behavior that has accelerated the digital & AI transformation for many businesses. COVID injected nearly $107 billion in eCommerce sales in the US alone, with a 169% increase in eCommerce purchases coming from new or previously infrequent users. Ecommerce has revolutionized retail. It has evolved to meet the changing needs, and to make online shopping easier for the modern day customer. Whether it’s hyper-customization, enhanced return policies, or improved integration, all of these changes have taken the world of ecommerce by storm. Dipayan, 3AI thought leader & mentor has witnessed this journey and he will share his anecdotes and will reflect on trends, landscape and future forward scenarios. The session will be moderated by Sameer Dhanrajani, President – 3AI.

    3AI Trending Articles

  • What if AI scans legislation and allocates funds to agencies?

    New Treasury Department software points the way. But research suggests that it’s impossible to show that an artificial ‘superintelligence’ can be contained . If, like me, you’re worried about how members of Congress are supposed to vote on a stimulus bill so lengthy and complex that nobody can possibly know all the details, fear not — the […]

  • AI in Investing – are we there yet?

    Believes Atanuu Agarrwal from Upside AI, this and much more in a conversation with Sumit Chanda from JARVIS by Monitree, Siddharth Panjwani from K2 Capital, and Atanuu. With the world moving too fast and data piling up by every millisecond, why haven’t we fully utilized the capabilities of technology to carry out Smart Investing for […]

  • New 2D tag with AI authentication to spot counterfeit products Faster & Accurately

    The authentication process takes under 3.5 minutes to complete, and involves scanning the tags under an electronic microscope to obtain the PUF pattern, which is sent to the AI-driven software for validation. A new anti-counterfeiting technique uses two dimensional (2D)-material tags along with artificial intelligence (AI)-driven authentication software, and promises to deliver faster, more accurate […]

  • Way to make object-recognition models perform better

    Adding a module that mimics part of the brain can prevent common errors made by computer vision models. Computer vision models known as convolutional neural networks can be trained to recognize objects nearly as accurately as humans do. However, these models have one significant flaw: Very small changes to an image, which would be nearly […]