4 Ways In Which AI Is Revolutionizing The Ecommerce Industry
The essence of artificial intelligence or AI is spreading across every sector and industry across the planet today. More and more businesses are moving towards AI practices to provide ease to their customers. Saas products, Ecommerce plugins and other services are also working to provide AI tools for website integration and computer system integrations.
According to a survey by Tractica, AI in ecommerce will have boomed to $36.8 billions worldwide. AI has entered almost all the sectors from banking, healthcare, finance to ecommerce. 24/7 online shopping experiences, MRI machines for early detection of cancer cells or fraud detection and routine cash work at banks everything is wrapped up in AI.
We will be touching upon its effects in the booming E Commerce industry so, without further adieu let's explore some of the ways AI has revolutionized ecommerce apart from customer support and flawless shopping:
Are you one of those people who still use google search for comparing products, well it’s time to wake up!! In today’s digital age where we have Siri, Cortana, Alexa and Bixby, your search is just one voice command away. All you have to say is “ Alexa buy me this” and she will do the rest.The AI is programmed to get the best and the cheapest option. The technology has been integrated into our smartphones and is inclusive as well. This has been a great help for people who can’t type or are unable to see. If you want to get ahead of the ecommerce market get on board with the voice optimization of your site. Several reports show stats that 50% of searches will be voice based by 2025.
The reason the ecommerce industry has been able to afford 24/7 services is thanks to AI, chatbots. These bots are programmed with every possible question or situation that is faced by the customer service representatives on a daily basis. Not only do these bots solve your problems but recently they have been communicating with customers to help them make buying decisions based on their preferences. If the problem is beyond a chatbot then they will route you to further contact with a human customer service representative. The use of chatbots is a great ease for businesses that are spread across the globe and have time zone differences. These bots also help cut the cost of hiring humans for this position.
As a customer it’s pretty frustrating to open the homepage and see things that are irrelevant to you and foreign to you. AI has played a major role in tailoring websites according to the user who visits them. AI uses NLP ( Natural Language Processing) and contextualized data to improve search results as well as the website hero images you will see. This benefits the business twofold. Not only does the customer benefit but the business revenue increases as well. The longer the customer stays, the more time the AI spends in gathering their data to target them with more ads and emails in the future. Also, this helps the consumer get a hassle free shopping experience as well. The longer the consumer stays on the website searching the better the AI can study their habits and customize their experience.
According to Conversica, 37% of sales are affected because of poor leads. This points to the crack that potential buyers fall into due to bad targeting and follow up. The customer data collected by the website using AI such as items left in the cart, search for products, and other shopping habits can help you target potential buyers. Some shops are using facial recognition to detect which products a customer is likely to buy if they go on sale or have some kind of deal. How so? They detect the time a customer spends near a shelf or checking out something but then puts it back. This helps store owners help in determining what they have to email or text the buyer.
Gone are the days of yellow pages and cold calling for getting and retaining customers, AI has made everything easy and convenient. The best ecommerce platforms and stores are moving at a fast pace towards AI. We hope this artificial has convinced you to turn up the AI in your store as well. Let us know in the comments what has worked for you in the past and how do you plan to switch it with AI solutions.