AI translation tool helps boost eBay sales by more than 10%

We often hear about artificial intelligence playing an increasingly important role for economic growth both at the micro (business) and macro (national) levels, and while this statement is somewhat It is a bit vague, as well as the lack of real evidence to reinforce the point of view that still makes semi-trust investors skeptical about the true effectiveness of AI, a recent study was conducted by Economic expert at MIT and Washington University in St. Louis Louis, USA has provided some convincing evidence, clearly showing how tools AI is playing an active role in promoting trade, particularly through allowing sellers and people buying beyond the language barrier, thereby being able to interact and trade more effectively.

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Looking at statistics from trading on eBay, researchers conducted comparisons of sales between the US and Spanish-speaking Latin American countries before and after the online shopping platform. This route applies an AI-based translation tool to the product list in 2014. (Specifically, the translation tool will have an impact on the title of each item as well as search queries, but not images. enjoy product descriptions).

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AI translation tool helps eliminate language barriers in e-commerce

Before using the AI ​​translation tool, eBay also provided automatic translation for customers. However, the use of AI has significantly improved the accuracy of the service. Do you think better product title translations will lead to higher sales? That's exactly what the researchers found after carefully analyzing the data. The end result shows that sales from the US to Spanish-speaking Latin American countries have increased by 10.9% after eBay officially used the tool.

In addition, the researchers also acknowledge that there are some other factors that contribute to this increase, but generally not significant, AI translations are still the deciding factor. . For example, the research team compared export data during this period with countries using languages ​​not included in eBay translation tools, as well as controlled factors such as spending for marketing (marketing) and the length of the product title.

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Besides, the researchers continue to compare this data with similar data obtained after eBay's AI translation tool is applied to Russian, Italian and French. As a result, the emergence of AI translation tools has significantly improved the ability of buyers and sellers to interact (a factor that has a significant impact on transaction volume) by about 26%.

'These comparisons have shown that the impact of trade barriers on language barriers is one of the most important factors for the success of trading activities. The improvement in translation has made the eBay world more connected and interactive, 'the team commented.

In a blog post from the University of Washington St. Louis, the researchers said their analysis results could be used as evidence that how AI is impacting the development of menstruation. health in general and e-commerce transactions in particular. But it seems that investors are still too passive, or rather, are cautious about the further application of AI to their business.

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In this regard, Mr. Xiang Hui, an expert from MIT artificial intelligence team, said: 'The problem is that, usually, it will take time for businesses to improve innovation and complementarity. Add a new technology to your operating structure. In addition, they must also consider carefully the risks before thinking about benefiting from this investment. EBay's success is a good example, showing that when technology is calculated and applied appropriately, it can create significant impacts in a positive way for businesses. '