AI will soon be able to effectively “read” your mind and suggest products months before you even think about buying them, an expert has claimed.
Alona Dobshynska says that generative AI is developing so quickly that it will soon be able to predict future spending habits for individuals.
The certified AI product manager – who has spent the past decade developing sustainable digital products as a C-level executive at fintech companies like CEX.IO and Baanx – said it already does this by analysing previous habits.
AI will take this a step further and use this data to predict what you might want in six or 12 months time, Alona – who built a feature for crypto cards which allows people to buy everyday products – explained.
She said: “In the past it was rule-based systems that used predefined criteria. For example if a customer buys X, it will recommend Y.
“AI has stepped up a gear. It dynamically learns from data, customers location, past purchases and behaviour and adapts over time.
“This offers a more sophisticated and accurate personalisation.
“In essence, many modern services, like Instacart and Uber, utilise AI to create personalised experiences.
“They are adapting in real-time based on user data, preferences, and behaviour.
“Products based on AI models continuous learning enables them to stay relevant and make predictions that feel intuitive to the user.
“This will enable it to accurately predict someone’s future purchases, possibly months in advance.”
Alona, who recently won an award as Innovator of the Year in the Financial Services category in the 2024 Cases&Faces Annual International Business Conference and Award ceremony.
She also dismissed fear mongers who believe it will steal jobs.
As an example, she cited fears that product managers would be made redundant when ChatGPT burst onto the scene because it could write documents that previously only humans could.
“AI won’t eliminate them because they are more than this,” she said.
“They run the communications between teams and act as a lynchpin which is a significant part of the delivery of any project. AI can’t do that.
“And now they have started to incorporate AI into their daily jobs, they can see its benefits as well as its limitations.
“It has driven efficiencies but also reduced the stress that they are going to be replaced – because clearly they are not.”
Alona believes as AI extends and expands people will be less and less threatened by it, but more incorporate it into daily and professional life.
She likens it to internet search engines like Google when they launched around the millennium.
“Everyone was sceptical about Google,” she said.
“Now everyone knows how to use it and do it every single day. The same thing will happen with AI.
“All the products they are using, AI will help personalise things for them.
“Whether that be for finding the best offers or educating themselves about how to use a new product.
“It will be something similar to Google that we use to make our daily lives easier and not seen as a threat in the slightest.”
