The Silicon Review
Product strategy is a key prerequisite to launching a new product today, and it requires a hard look at the data—including competitive analysis, historical data, product reviews, and content strategy. Product teams usually do not have the capacity to manually analyze the billions of data points across these areas. Commerce.AI helps with this by offering the world’s largest product data engine, which integrates with the client’s existing data sources to magnify the product teams’ visibility and knowledge of the market.
Commerce.AI’s solutions help create better products across any industry, from automotive firms like Suzuki to consumer goods companies like Unilever to electronics companies like Netgear. “Whether you are building new products or services, running an e-commerce store, or are just looking for innovative ways to boost sales, our data-driven solutions are for you,” said Andy Pandharikar, Founder and CEO of Commerce.AI.
Today, big data and artificial intelligence have transformed commerce. Commerce.AI’s platform provides insights and recommendations to commerce companies based on machine learning algorithms. It provides real-time recommendations to help with high-impact decisions. In particular, Commerce.AI takes advantage of today’s big data by analyzing over 100 sources, including over 600 million products and services. This provides unprecedented access to insights for product teams.
In a recent interview with us, Andy Pandharikar talked to us about the company’s revolutionary platform that effectively avails product data at scale. He also spoke about the company’s recently launched AI-generated market reports. Read on for the excerpts from the interview.
Q. How did you come up with the idea of Commerce.AI?
Commerce.AI is a commerce-focused AI solution that provides data-driven insights to help product teams innovate and augment crucial product decisions at scale. It was inspired by the idea that there are billions of product data points across the Internet, which product teams just do not have the capacity to manually review. Commerce.AI is an AI solution that scans this unstructured data to provide unparalleled insight into product and competitive strategy, market research, and more.
Without being data-driven, product teams are in the dark. We fix that with the world’s largest product data engine.
Q. How are you democratizing AI?
Data is the fuel for AI. However, the harsh reality for many commerce companies is that this data is unavailable and out of their reach. For instance, many product teams struggle with being able to sift through millions of product reviews to simply see what customers are looking for or which features are the most loved. Commerce.AI has democratized AI, by making the power to innovate more open to all.
Without our data engine, the product data that fuels AI for commerce is disparate and messy, and therefore impossible to gain insights from. We provide effortless access to clean, organized product data, at scale.
Q. Could you tell us about your various offerings in brief?
Our expertise lies in data-driven product insights and personalization. We have been working with clients from all over the world and teach them how to use data to optimize their business strategies. Our services include product and competitive strategy, market research and intelligence, and AI-assisted content.
Q. Could you tell us about the recently launched AI-Generated Market Reports? How will it help your clients?
Our AI-generated market reports provide actionable insights that can help our clients identify new markets, understand and predict their competition, and better understand their customers.
We’ve analyzed billions of data points to provide unique perspectives that could never be achieved without AI. At the same time, the reports are unbiased, because they’re not based on any preconceived notions or opinions about businesses or their competitors - they simply look at the data.
With 10,000 market reports to choose from, clients from any industry can gain value from our market reports. Market reports also provide an “opportunity meter” for busy product teams, which is a simple indicator of the size of the market opportunity at hand.
Q. Do you have any new services ready to be launched?
We will soon be releasing a feature that uses AI to generate product ideas. It’s a tool that provides access to creativity on demand, and it's the perfect resource for anyone who wants to ideate new product ideas, fast.
If you have ever thought to yourself “what should I create?” then this AI-assisted solution might be for you. AI won’t replace human creativity and ingenuity, but it can be a powerful assistant to get your creative gears spinning.
In parallel with our market reports and other data-driven offerings, customers will be able to come up with ideas from scratch, determine the market opportunity, and create a plan for a successful launch.
Q. How do you help your employees grow?
Talent drain is a real challenge for companies. Our solution is to provide an environment that aligns with each individual employee’s growth. We find that when people feel like they’re stretching themselves, they’re more invested in the company. With the size and scope of the AI market, there are plenty of opportunities for our employees to grow. Further, it’s a priority to make sure that our team members are able to develop a work-life balance. Healthy people make for healthy companies.
Q. How important are partnerships to Commerce.AI?
Partnerships are key to our product data ecosystem. We need to be able to provide our customers with the data they need to make their decisions. Partnerships drive innovation and product development. We also need partners that are invested in the data ecosystem and want to collaborate on real-world solutions.
Q. Could you share a story where you helped out a client?
We have worked with leading brands like Unilever, Suzuki, Coca Cola, and many other Fortune 500 firms. For instance, Suzuki approached us to know more about what type of features or functions should be added to their products, and which pain points, requirements, product usage and expectations their customers had.
We started our work with a joint feasibility study and Proof of Concept project, which resulted in a commercial relationship. Ultimately, Suzuki translated the findings from our data engine into a prioritization of product improvement and development initiatives. Achieving this level of insight from big data would be impossible to do manually.
Q. How did the COVID-19 pandemic affect Commerce.AI?
The COVID-19 pandemic has had a huge impact on e-commerce. Using our data engine, we created an e-commerce report that analyzed shifting trends, including changes to specific brands and categories.
Ultimately, the COVID-19 pandemic proved to be a huge boon to e-commerce, and successful e-commerce companies are taking advantage of the massive amount of data that’s available to optimize their solutions.
Q. What does the road ahead look like for Commerce.AI?
Commerce.AI is set up for the future because we not only use state-of-the-art AI, but have access to an unparalleled amount of product data. 95% of data on the Internet is unstructured, and our data engine takes advantage of it.
The future is already here for customers because Commerce.AI provides solutions based on unstructured data today.
The Visionary Leader
Andy Pandharikar, Founder and CEO
His previous startup was acquired by the Flipkart group, which later got acquired by Walmart for $16B. Prior to that, Andy held various product and engineering positions at Cisco. He is also a member of SF Angels Group and has invested in a number of startups as an angel investor. He attended M.S. in Management Science and Engineering at Stanford University and an Executive Degree at Harvard Business School. Andy is an outdoor enthusiast, an ultramarathoner, and a certified lead rock climber.