The management performance of eBay is improving as the e-commerce company expanded its investment in artificial intelligence technology.
According to Forbes, a U.S. economic news outlet, eBay is actively introducing artificial intelligence in many areas to enhance buyers' purchasing experience, identify customer tendencies, recommend products and provide analysis information on sellers. It is expanding investments in the artificial intelligence sector through the CEO's awareness of artificial intelligence and the recruitment of artificial intelligence experts.
In 2016, eBay CEO Devin Wenig said that the trading sector would be a key area in the artificial intelligence sector and that eBay would strive to become a leader in online e-commerce.
eBay has been more aggressive in using artificial intelligence technology since it hired Jan Pederson, who has worked on Twitter and Microsoft, as its vice president and chief scientist in 2018.
eBay's advantage is that it has been accumulating vast amounts of data for more than 20 years. eBay has 179 million active buyers and is building tens of millions of sales networks in 190 markets around the world. Since its inception in 1995, it has created an inclusive and accessible business platform. eBay is currently one of the top 10 e-commerce companies in the world.
eBay is currently introducing artificial intelligence into areas such as personalization services, product search, insight provision and discovery, product recommendation systems, computer vision systems, natural language processing and translation services.
Through this artificial intelligence strategy, eBay aims to enhance its customers' purchasing experience and build and deploy the right infrastructure. Buyers can enjoy an artificial intelligence-based personalized shopping experience. Artificial intelligence provides personalized purchasing information based on buyers' enthusiasm and style. The product search function has also become smarter. With artificial intelligence, consumers can understand the context of their search and get a clear picture of the products they want.
eBay posted a net profit of $763 million in the fourth quarter of last year on the back of increased investment in the artificial intelligence sector.