Singapore – Following the widespread adoption of AI across diverse industries, a recent Salesforce report highlighted a significant shift in Singapore’s e-commerce sector, indicating 42% of the respondents have already completed its full implementation.
In this report, 38% also indicated that they are presently engaged in the experimentation stage. Another 20%, on the other hand, are in the process of evaluating the potential integration of AI into their operations, according to the 2024 state of commerce report.
Findings also showed that the common uses of AI in commerce include tasks such as crafting product descriptions, refining merchandising, and optimising channel strategies. Sales forecasting and automating service communications are also frequent use cases.
However, despite its initial phases, AI adoption in commerce organisations is still developing, with only 19% having fully implemented it in their workflows. Notable improvements in internal processes and productivity have also been observed within the said group.
The report also indicated how commerce has extended its presence to various pre- and post-purchase customer touchpoints.
In particular, more than half (56%) of Singaporean organisations now incorporate payment capture functionality in marketing emails, while the majority (95%) indicate incremental revenue from customer service channels.
Additionally, around 70% of the participants also expressed that inadequate data integration and harmonisation pose at least a moderate challenge on the journey to AI implementation. This implied that many firms still grapple with the absence of a well-defined AI strategy or the requisite skills to maximise its potential.
Speaking about the report, Sujith Abraham, senior vice president and general manager at Salesforce ASEAN, said, “AI is empowering the commerce industry in Singapore to add value at every touchpoint of the customer journey. This paves the way for a fresh wave of digital innovation that boosts productivity, customer engagement, and business growth.”
“Still, successful AI implementation and usage depend critically on the quality of data and its management. Companies that can effectively leverage their data in a trusted manner for AI-powered innovations can create immersive, connected customer experiences that will strengthen relationships and build long-term brand loyalty,” he concluded.
