Cas Paton, CEO and founder of UK-based online marketplace OnBuy, ranked Europe’s fastest growing ecommerce company in the FT1000, is encouraging businesses to ‘look before they leap’ before integrating big ticket AI solutions.
While Paton acknowledges the benefits and future implications of machine learning, he is conscious that businesses could easily be duped into integrating AI solutions that are still in their infancy and won’t deliver the results they’re hoping for.
Paton said, “There are some excellent tools out there, which businesses can use to help increase efficiency and output, but in the rush to capitalise on the noise surrounding AI, some development companies are bringing products to market that overpromise and severely underdeliver.”
“There’s a misconception that AI solutions are plug-and-play, but there are a lot of complexities that you need to consider when it comes to using machine learning and automation if you want to continue to provide a high-quality customer experience.
He continued, “You need to really understand the nuances of your business and the needs and expectations of your customer to make sure that the tool you’re adopting is fit for purpose. AI is only as good as the data you give it and needs to be trained over time, which leaves a lot of room for error.”
As a complex business, processing a huge amount of data. OnBuy is aware of just how damaging AI could be to the customer experience if wrongly implemented. Sam Hall, OnBuy’s Lead Data Scientist said:
“OnBuy contains a huge quantity of information. With 35 million products listed across our site, we must have absolute confidence that anything we implement can perform at scale and not deteriorate in performance over longer term use.
We’ve explored AI solutions in a number of other areas, so we’re well-versed in experimenting and evaluating any new tool before rolling it out to customers. Improving efficiency is important, but customer experience is paramount.
Being aware of the limitations of AI products is as important as accepting its possibilities. Any production AI patterns should have human involvement to make sure these systems don’t drift and are wrapped in sufficient business logic where active decisions are being made. In order to use AI responsibly, it’s essential that businesses do thorough research and shelter customers from inherent AI biases where possible.”
Paton isn’t against AI, however. As a fast-growth tech business OnBuy has embraced machine learning, encouraging departments across the business to find ways to adopt the tools at their disposal. It has been used to do everything from generate Excel formulas to providing quick access to research data. The company is even looking at using it for auto-categorisation and simplifying order tracking, but they approach every innovation with caution and a good degree of due diligence.
Paton concluded, “AI isn’t perfect. It’s extremely helpful, it’s rapidly improving but it’s got a long way to go. Where the industry is really seeing growth is the efficiency gains, where AI tools play alongside everyday human tasks.
AI is definitely going to be a big part of our future, so it’s important not to be left behind. My advice is to start with the basics. Businesses can easily utilise tools like Copilot (for dev) or Chat GPT (for copy generation) to improve day-to-day efficiency, but make sure you understand the benefits and limitations of AI before looking at bigger solutions that could impact the way you do business.”
ENDS
Media Enquiries:
Rosie Fitzgerald | Head of Brand | rosie.fitzgerald@onbuy.com
About OnBuy
Founded in the UK in 2016 by Cas Paton, OnBuy has a simple vision: to be the best choice for every customer and every seller. By not stocking its own inventory, the brand has established itself in the eCommerce sector as a pure online marketplace that doesn’t compete with retailers.
Offering millions of products across a range of sectors including electricals, toys, beauty, home and garden, OnBuy gives thousands of verified online retailers the platform to provide competitive prices and exceptional value to customers.
Trusted by millions of consumers and world-leading brands, OnBuy understands its customers and partners with its retailers, offering them an online marketplace that works with them, not against them. And with customers benefiting from the marketplace’s unique and generous Cashback offering, it pays to shop with OnBuy.
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