Why is it that so-called artificial intelligence is one of the best-used e-commerce systems? Let’s start with the effects that these basic businesses and innovative strategies can develop from now on. Because in effect, and in any business that wants to improve and maximize its results, artificial intelligence can be the ultimate resource that entrepreneurs in this growing business sector can have.
With an impressive 35% of its total revenue, product sales and cross-selling on Amazon’s e-commerce platform are among the first stories of this retailer’s success. Which technology is working in the style of this change? Amazon’s recommended product technology, which is primarily powered by artificial intelligence or AI.
In addition to product recommendations, artificial intelligence is being used in the e-commerce industry by online retailers to provide chatbot services, analyze customer feedback, and provide personalized services to online shoppers.
Incidents of artificial intelligence
A 2019 study by Ubisand found that 5 out of 1 consumers are willing to buy goods or services from a chatbot, while 40% of online shoppers look for great deals and offers from chatbots Buy.
Although global e-commerce sales are expected to reach 80 billion by 2021 by 4.800, Gartner predicts that by 2020 will manage all consumer interactions through AI technology (without a human agent).
So how is AI in e-commerce changing the shopping experience in 2019? Through this article, let’s take a look at some of the key applications of artificial intelligence in e-commerce, as well as some real-life industry examples.
How is artificial intelligence changing the shopping experience?
Artificial intelligence in online shopping is transforming the e-commerce industry by predicting the pattern of purchases that shoppers make and when they buy them. For example, if online shoppers buy a particular rice brand each week, the online retailer may send these buyers a personalized offer for the product, or even good with rice pots. The learning machine can also be used as a learning tool for a partner’s product.
Tools in e-commerce
E-commerce AI tools or AI-enabled digital assistants, such as Google’s Duplex tool, are developing capabilities such as shopping list creation (from the buyer’s natural voice) and even placing purchase orders.
Some of the major AI applications in e-commerce are more efficient than others in achieving goals in the store or online commerce. In this regard, it should be noted that while e-commerce has many advantages over artificial intelligence, here are four key applications of AI for e-commerce that are dominating the industry today.
Chatbots and other virtual assistants. E-commerce retailers are increasingly turning to chatbots or digital assistants to offer 24/7 support to their online shoppers. Made with artificial intelligence technologies, chat robots are increasingly intuitive and allow for a better user experience.
The effect of AI?
In addition to providing good customer support, chatbots are increasing the impact of AI in eCommerce with similar capabilities.
Natural language processing (or NLP) that can translate voice-based interactions with users.
- Address customer needs through deep understanding.
- Self-learning skills that help them improve over time.
- Provide personalized or targeted offers to customers.
- Smart product recommendations
In the first application of AI in e-commerce, personalized product recommendations for online shoppers increase conversion rates by 915% and average order values by 3%. Using big data, AI in eCommerce influences consumers’ preferences based on their knowledge of past purchases, searched products, and online browsing habits.
Product recommendations provide many benefits to e-commerce retailers, including:
- A large number of returning users
- Better customer retention and sales
- The personalized shopping experience for online shoppers
- Enable the Custom Business Email campaign.
Personalities of A in e-commerce?
One of the most effective methods, personalization, is the core of AI in e-commerce marketing. In e-commerce, creating specific data collected from each user online, from AI and machine learning, is gaining critical user insights from user-generated data.
For example, AI-enabled tools, BoomTrain, can analyze customer data from multiple touchpoints (including mobile apps, email campaigns, and websites) to see how they interact online. This insight enables e-commerce retailers to make appropriate product recommendations and provide a consistent user experience across devices.
Effective inventory management is about maintaining a reasonable level of inventory that can meet market demand without increasing waste stock.
Although the traditional form of inventory management was limited to the current stock level, AI-driven inventory management enables a way to maintain inventory based on related data.
- Sales trends in recent years
- Expected or expected changes in product demand
- Potential supply-side issues that may affect inventory levels
In addition to inventory management, AI enables the management of an emerging warehouse of automated robots presented as the future of artificial intelligence in e-commerce. Unlike human employees, AI robots can store or retrieve stock 24×7 with instant delivery of ordered items after an online order.
In addition to transforming the e-commerce industry in some ways, AI is developing many innovative solutions in the B2B e-commerce sector. Let’s look at recent industry case studies related to artificial intelligence affecting this sector.
Intelligent AI-capable solution for the e-commerce industry
AI-based technologies are introducing online shoppers to many products they did not know existed in the market. For example, AI-based technology company Sentinet Technologies is enabling virtual digital shoppers to recommend new products to online shoppers based on their shopping patterns and data insights.
Encouraged by the success of the Amazon Alexa device, this e-commerce giant Alexa is offering a voice shopping system that lets you review Amazon’s best daily deals and place online purchases with just your voice. Are and what? Amazon Alexa can also provide wardrobe tips, including the best fashion collections and comparisons between outfits to see what looks best on you.
In the fashion e-commerce industry, AI reduces the number of returns on products purchased through online sales. For example, fashion brand Zara deploys AI’s capabilities to suggest appropriate clothing sizes (based on buyer’s measurements) with its style preferences (loose or fit fabric). This can help the fashion brand reduce the return on its products and improve its resume purchases.
In addition to these innovations, AI-based solutions are transforming the e-commerce industry into the following areas.
AI-capable email marketing sends marketing emails to recipients who are interested in the product (or service). In addition to reading more human than automated, these email marketing tools perform intelligent analysis based on user feedback and tailor to the client’s individual needs.
AI-capable supply chain automation that enables efficient supply chain management for e-commerce platforms. Other benefits include making business decisions related to vendors, lead time, and market needs.
Artificial intelligence-based data analysis tools for the e-commerce industry provide numerous benefits such as business intelligence, customer profiles, and online sales analytics.
Solutions in stores or online stores
OmniCannel AI solutions create a seamless and consistent customer experience in brick and mortar and online retail stores. For example, Sephora’s AI-based omnivorous solutions use a combination of AI and machine learning, natural language processing, and computer vision to bridge the gap between store and online user experiences. ۔
As highlighted in this article, artificial intelligence in e-commerce plays a key role in driving innovative solutions and customer experiences. Some of the keys used for artificial intelligence in e-commerce are personal shopping, product recommendations, and inventory management.
As an online retailer, are you considering implementing a working model of artificial intelligence for your business? Designed for AI in e-commerce businesses, Contents is an established data analytics provider that empowers online retailers with product-focused solutions.
Searching for e-commerce
Twig uses natural language processing to narrow, context, and ultimately improve search results for online shoppers to solve this problem. Another company trying to improve e-commerce search is a US-based tech company, Clary Fay. ClearyFi’s early work focused on search ideas, and as its website states, the software is “artificial intelligence with vision.”
The company enables developers to create smart applications that “see the world as you see it,” enabling companies to create a customer-centric experience through advanced image and video recognition. Taking advantage of machine learning, AI software automatically tags, organizes, and visually detects content by tagging image or video features.
Read more about their personalized training, which allows you to create custom models to teach AI to understand any concept, be it the logo, product, aesthetic, or Pokemon. Be You can then browse or search for multimedia assets using keyword tags or visual matching with these existing models (such as Ordinary, Color, Food, Wedding, Travel, etc.). Can use
Technology as a prerequisite
Artificial intelligence technology gives companies a competitive advantage and is available to developers or companies of any size or budget. A great example of this is the recent update to Pinterest’s Chrome extension, which allows users to select an item from any image online and then using image recognition software from Pinterest. Similar items are said to be placed in front.
It’s not just Pinterest that introduces new search experiences with AI. Buyers are increasingly saying goodbye to continuity control as a new software platform that powers e-commerce websites to create innovative theoretical search capabilities.
In addition to finding matching products, AI allows buyers to discover complimentary products, regardless of their size, color, shape, fabric, or even brand. The visual capabilities of these programs are truly extraordinary.
By getting visual clues from the first uploaded images, the software can help customers find the product they want. Consumers no longer need to buy anything they want to buy.
For example, you might like a friend’s new outfit from the gym or a coworker’s new Nike pair. If there is a visual, then AI allows users to find such items through e-commerce stores easily.
Focus potential customers again
According to Conorisica, at least 33 marketing leads are not followed by the sales team. This means that potential pre-qualified buyers interested in your product or service will inevitably fall into the trap.
In addition, many businesses are overwhelmed by unmanageable customer data with which they do little or nothing. This is an amazing gold mill that can be used to improve the sales process. For example, if we take a closer look at the retail industry, facial recognition is already being used to catch thieves by scanning faces on CCTV cameras.
But how can AI be used to improve the customer shopping experience?
Well, some businesses are using facial recognition to track customer residency times in physical stores. This means that if a user spends significant time with a particular product, an iPod will store this information for use on their next visit.
As the AI develops, we expect special offers on consumer screens based on the time spent in the store. In other words, Omni Channel retailers are improving their ability to re-market to consumers.
The face of sales is changing with businesses that respond directly to the customer. It’s like businesses are reading customers’ minds and all thanks to the data used with AI. One of the key uses for artificial intelligence in e-commerce is personal shopping. To browse or search for multimedia assets using keyword tags.