Nobody is unaware of that fact that Artificial Intelligence (or AI) is captivating the world’s attention. With the last few years, e-commerce sector has experienced an exponential rise with implementation of artificial intelligence. Artificial intelligence has proven to be a helping hand in translating several languages, offering customer service and thus it is innovating pretty fast. This is in fact giving space to reasonable fears as AI might eventually replace human workforces in various organizations.
It is the first time in the history of technology that human intelligence has been challenged by digital tools. Whereas Artificial Intelligence will absolutely modify how the work is done and who is performing it, the technology’s bigger influence will be in regards to complementing and expanding human potential and not replacing them.
The convergence of Artificial Intelligence and e-commerce sector will not just revolutionize the billions of online transactions which take place day-to-day, however in-store purchase behaviors as well.
If you have your own ecommerce store, it is mandatory to understand the key benefits AI is providing in association with ecommerce sector to your customers.
Artificial Intelligence has been helping ecommerce industry in multiple sectors. Personalized experiences are considered to be the leading benefits in retail zone. Listed below are some fields where AI is contributing to ecommerce business:
So what is a chatbot? Read here to know more about chatbots and its relationship with AI.
Chatbots are facilitating enterprises get involved with consumers by allowing 24*7 customer service along with personalized recommendations.
Artificial Intelligence software has an automated approach for tags, it automatically plans and visually searches the content by tagging options of the image or even a video. Artificial Intelligence is allowing customers to search complementary items irrespective of size, color, shape, fabric and also the brand. AI allows shoppers to simply discover identical products via e-commerce stores.
Conversational platforms such as utilizing Amazon Echo or Google Home allows shoppers to carry on a task, such as asking regarding some items by ordering virtual assistants. Artificial Intelligence Technologies like Natural Language Understanding enables shoppers to speak to a robotic machine to receive answers to queries regarding items, to buy products online.
Artificial Intelligence enables shoppers to “try on” clothing to have an idea what a shirt would appear like in various colors. Ecommerce applications has a mirror which enables MAC Cosmetics’ shoppers to virtually try multiple makeup looks in real-time. For example Nyka uses the same technology. Lenskart has real-time mirrors for trying specks on screen.
AI will customize shopping experiences by acquiring gestures which are translated into some commands such that consumers might find the exact product which they are seeking.
Utilizing Artificial Intelligence, brands will intelligently as well as efficiently scan high amounts of data to forecast customer behavior and provide relevant and useful recommendations to all the shoppers. This stage of intelligence is crucial in providing a ‘personalized shopping experience’ for the customers.
Preparing appropriate and SEO-content descriptions for all the items is time-taking and costly when it requires the hiring of writers to slog via each separate piece. Artificial Intelligence has the power to scrutinize chief features to design modified product descriptions and create them without human intelligence.
The speediness of AI deployment in various realms relies over some crucial factors like:
The primary factor is the potential to verify and estimate. With accurate security, ecommerce giants will deploy AI and then verify and then measure customer response. They might even straightly measure the impact across their bottom line fairly and rapidly.
The secondary factor is comparatively tiny consequences of some mistake. An Artificial Intelligent agent who is landing a passenger aircraft can’t afford to create any mistake as it can kill and affect people. On the contrary, an AI agent who is deployed in a retail sector which makes billions of decisions regularly is able to afford to make little mistakes, as far as the complete impact is positive.
The use of AI in ecommerce industry have been the largest application of artificial intelligence in India. Numerous e-commerce players in our country are targeting to acquire a crucial section of AI and shopping experience via a balanced blend of marketing, merchandising along with technological strategies. With Artificial Intelligence, popular online fashion store named Myntra, Flipkart and many more expect that how customers will take over to shopping on their portal. For these e-commerce industries, AI is of high utility and importance. The fast and widespread usage of mobile devices has encouraged the rise of e-commerce industries. Around about 80 percent anticipate revenue from Mobile Sites and Applications to rise in comparison to the same section in year 2016.
The importance of AI in the ecommerce sector is taking the industry to new heights via several latest strategies which are being utilized. In a recent IBM’s survey, around about 91% of retail executives reported that they assume cognitive computing is going to play a tumultuous role within the organization, and about 83% claims that it is going to have a crucial influence over the future of their businesses.
Irrespective of the fact that customers do their shopping online or within a store, their retail experience is the recent battleground for the AI as well as machine learning revolution.
AI has the power to detect underlying patterns in customers’ shopping behavior from the items they purchase and the way they purchase them. While inventory and sales database systems easily track history orders of all the items, with required data, machine learning systems will predict their regular shopping habits. This particular data is then going to be shared with providers, allowing better intelligent inventory management along with lean logistics.
The ecommerce sector has been booming from the past decade because of its technological advancements. Artificial Intelligence is offering progress for various retail leading companies such as Amazon who have recently associated with AI. Efficiency has enhanced since the past few years and highly personalized experiences are popping up.
Scared or excited? If you are a regular online shopper or some experienced online retailer, I will love to hear your thoughts about how Artificial Intelligence is entering into the world of e-commerce.
Industries have been utilizing machine learning to provide shoppers extraordinary experiences. AI has to emerge consistently to fulfill the requirements of customers who do lot of online shopping for their purchases via e-commerce sites. Moreover to this, for competing with ecommerce giants such as Amazon and Walmart, various businesses should utilize the magic of AI to know and perceive their shoppers for creating personalized experiences. Executing and keeping up with Artificial Intelligence-oriented technologies in today’s dynamic ecommerce sector can enable businesses to provide customer expectations as well as drive sales.