AI technology gives new momentum to e-commerce
“Incredible! I thought she was a real person!” exclaimed a visitor in amazement after discovering that the livestreamer selling beauty products on a large screen was actually a digital person—a form of AI technology.
The digital livestreamer, named Yanxi, has completed over 400,000 hours of livestreaming for more than 5,000 brands. Attracting at least 100 million views, according to a representative at the booth of Chinese e-commerce giant JD.com at the China International Fair for Trade in Services (CIFTIS) 2024, held from September 12 to 16 in Beijing.
Efficient Livestreams and 24/7 Service
With the help of AI technologies like Yanxi, merchants can set up an e-commerce livestreaming room in just two hours, at a cost that’s only a tenth of what a human livestreamer would require. This enables them to offer consumers services around the clock.
JD.com’s AIGC Platform Boosts Efficiency by 90 Percent
JD.com has also launched an AI-generated content (AIGC) platform that helps merchants create product images, marketing texts, and short videos with a single click. This innovation boosts efficiency by over 90 percent.
At CIFTIS, it is clear that AI, with its diverse product range, is infusing new vitality and dynamism into e-commerce.
AI-Driven Cross-Border Trade Insights by Alibaba.com
Alibaba.com, a Chinese e-commerce giant for cross-border trade, announced at CIFTIS the use of comprehensive AI technology applications in foreign trade. Every step of cross-border trade, including sourcing, search, product launch, reception, and logistics, is now integrated with AI technology.
Tailored Market Insights Through AI and Big Data
When a product is sold on Alibaba.com across different countries and regions, the display models’ priorities and prices shown to sellers vary, explained Jiang Lin, Head of Capital Market at Alibaba.com. The platform helps merchants better understand markets in various countries and regions through Big Data and AI analysis.
Last year, Alibaba.com launched an AI business assistant, now used by over 30,000 small and medium-sized enterprises. This assistant can automatically generate complete product information, including titles, keywords, prices, and images, from a product image or keywords. It reduces the time required to publish products from 60 minutes to about 60 seconds.
Businesses Benefit from AI-Driven E-Commerce
Lyu Hongwei, co-founder of Hebei Hangfa Technology Co Ltd., noted that the tedious and repetitive task of publishing products has been delegated to the AI business assistant.
China’s cross-border e-commerce recorded imports and exports worth 1.22 trillion yuan (172 billion USD) in the first six months of 2024. According to an analysis report on regional e-commerce development in China released at CIFTIS, a 10.5 percent increase is expected.
Digital Trade Technologies Propel Service Trade
The digital trade service in the AI era is expected to offer comprehensive export services for businesses. Liu Guangjun, Head of the Chinese Trade Department of Alibaba.com, foresees new growth opportunities for the service trade.
As digital technology continues to evolve. It will further drive the development of global service trade in the future, predicted Long Guoqiang, Deputy Director of the Development Research Center of the State Council, at CIFTIS.