AI is a broad term that refers to the ability of machines to perform tasks that would typically require human intelligence, such as perception, learning, reasoning, problem-solving, and decision-making.
AI can be divided into two main categories:
The main difference between the two lies in the type of tasks they are designed to perform. Specific AI is designed to perform specific tasks or solve specific problems, while generative AI is designed to generate new and original content.
Another difference is the training process: AI is trained on specific datasets to perform specific tasks, while generative AI is trained on large datasets to learn patterns and structures within the data, which it can then use to generate new content.
Creating new-age frictionless user journeys – The building blocks
For customized, on-the-spot discount offers and in-the-context payment experiences, the following steps can be taken:
To leverage generative AI models for customized discount offers, businesses can use Deep Learning techniques such as Natural Language Processing (NLP) and image recognition to analyze customer data and identify patterns in their behavior. These insights can then be used to generate personalized offers for customers, thereby increasing customer loyalty and retention.
For example, a restaurant can use NLP to analyze customer review responses to identify dishes that are most popular. The restaurant can then use generative AI models to personalize discounted offers for popular dishes during the next order, enhancing the likelihood of customers ordering more often from the restaurant.