Artificial intelligence (AI) has quickly become one of the industry’s biggest buzzwords, and many businesses are looking to utilize this technology to provide enhanced digital experiences. AI is programmed intelligent software or hardware that can learn and solve problems and has forecasted growth of 54% this year in the software market worldwide. It continues to be adopted across various industry and technology verticals – including product information management (PIM).
PIM Companies are Quickly Adopting and Integrating with AI platforms
PIM systems are essential to commerce business’s success due to their responsibility of providing updated product data to the commerce websites. The process of managing extensive amounts of product information can become tedious and inconsistent, especially when exporting data to various commerce channels. A 2018 Forrester Wave report assessed PIM vendors on their strategy and included AI as a perceived strength as part of their evaluation.
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Businesses want more automated PIM processes. Akeneo introduced Akeneo PIM 3.0 to integrate into its AI-backed Franklin library of 50 million products that continuously update product descriptions and information using AI technology. When AI is incorporated into PIM systems, businesses can provide more effective, intuitive, and meaningful customer shopping experiences.
Detail Online Acquired by inRiver
Our PIM partner inRiver has recently acquired automated intelligence and analytics platform, Detail Online. This acquisition brings inRiver new capabilities, enhancements, and insights for product and content performance and underperforming commerce channels. The ability to provide greater product information and content is increasing, and AI is the direction that many information management platforms like inRiver will ensure this solution for their customers. With the landscape of PIM rapidly changing, this opportunity comes at just the right time.
Why it’s Important to Perficient
While an important acquisition for inRiver, as steadfast partners, we’re excited to see what the joining of these two companies will bring for the future of PIM and its users. The road to AI-powered PIM systems has begun. To learn more about our partnership with inRiver and our PIM services, contact our experts today for other inquiries and information.