Foresight Industry Research Institute and Zhongguancun Big Data Industry Alliance jointly released China AI Digital Commerce Industry Outlook for 2021-2025 (“the report”) lately, a report that takes a close look at the performance of AI applications in China. The report noted that emerging AI technologies represented by generative and combinatorial AI have the greatest growth potential and are expected to become the key application technology stack on China’s digital business industry chain. In the examination of technology applications, AI firm Moviebook was highlighted as a key player, with the comment that the generative AI digital twin technology stack launched by the firm is helping open up a new growth market for the digital business sector.
With the acceleration of innovations in integrated and generative technologies alongside artificial intelligence as the core, digital business has given birth to a new industry form – AI Digital Commerce. According to the report, pioneers in the AI Digital Commerce ecosystem are mainly leading AI digital business solution providers and business giants engaged in the AI digital ecosystem.
Moviebook has been taken as an example of leading AI digital business solution provider in the report, with a wide business range that spans the entire life cycles of AI digital business content generation and AI digital services. With established technologies, the company has developed leading applications within the realm of advanced AI technologies such as generative AI, AI+DT and AI+Big Data. Alibaba, backed by robust finances and a powerful business footprint, is a great example as leading business giant engaged in the AI Digital Commerce ecosystem. The firm has advanced AI technologies, an in-depth presence in the AI Digital Commerce ecosystem, and business activities encompassing the segments covering AI-based digital business content, services and operations.
The report goes on to point out that digital business is a new industrial form based on the continuous penetration of digital technologies such as artificial intelligence and business upgrading. The market size of China’s digital commerce core industry chain is expected to reach 166.3 billion yuan (approx. US$26 billion) in 2021 and 618.8 billion yuan (US$97.25 billion) in 2025, with an average annual growth rate of 38.6%, digital commerce is becoming an important business form and force on the heels of Internet retail.
AI Digital Commerce leverages AI technologies including machine learning, natural language and computer vision to digitally upgrade business models and services, enabling functionalities such as digital content generation, user data insights, virtual scene expansion, virtual customer services, intelligent recommendation and image retrieval. These functionalities make commercial workflow and services visual, interactive and intelligent, facilitating content-based marketing of goods, reducing production costs and improving workflow efficiency. By 2025, AI technologies are expected to achieve an overall penetration rate of 30% in the digital commerce sector, while the market size of AI Digital Commerce is expected to reach 185.3 billion yuan (US$29.12 billion).
Fusing generative AI and combinatorial AI technologies to expand the applications from “production” to the whole industry chain, leading AI digital business solution providers, such as Moviebook, are capable of offering significant advantages in terms of cost reduction, efficiency and visualization of business properties, creating a new way to produce digital business content for a better, more controllable digital experience. As for new ways to generate content, traditional content creation methods are costly and inefficient, and feature unstable output of content that is often too one-sided and obscure.
Moviebook’s generative AI technology significantly improves the efficiency of digital commerce content generation, reduce production costs, automate operations and meet the threshold of industrialization. When it comes to the innovative digital experience, the automated digital product creation model enabled by Moviebook’s generative AI is universally applicable to all product SKUs. AI-based multimedia content generation technology can quickly generate visual and interactive digital business content for traditional goods, which not only deeply transforms product displays and the consumer experience, but also meets the demand for simultaneous transformation of multiple products, forming an integrated digital business model covering experience, insight and the decision-making process.