Industry executives and experts share their predictions for 2020. Read them in this 12th annual VMblog.com series exclusive.
By Benny Tadele, vice president, Merchant Solutions, ACI Worldwide
AI to Revolutionize eCommerce
I predict that 2020 will bring a growing dependence on Artificial Intelligence (AI) for ecommerce. At a macro level, retailers will depend on AI to manage their business. Retailers will use AI to understand what goods to stock, what kind of marketing to undertake, all the way to how the business is doing compared to competitors.
When consumers shop goes online, merchants track the percentage of consumers who engaged in and completed the payment process. How the merchant captures their attention from start to finish, through to the checkout process is very important, and AI plays a large role. AI can be used when a consumer swipes the cards to ensure the payment is routed through the least expensive route and to also guarantee the best connection to avoid declines. This ultimately will improve revenue conversion and, in turn, the payment experience.
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About the Author
Benny Tadele, vice president, Merchant Solutions, ACI Worldwide
As the head of ACI’s Merchant Solution and Business in the ACI cloud, Benny has the responsibility of setting and executing the strategic directions of ACI’s Payment and Fraud Management platforms. He has been in the Merchant Retail Payment space for over 13 years and has held various leadership roles ranging from Engineering, Professional Services as well as Product Management.
