Artificial intelligence, eh? Seems like no matter where you turn, you can’t seem to escape a conversation about it. Well, that’s because it is not merely your next-generation technology that will fade into oblivion in a short while. No, artificial intelligence is a profoundly productive tool that has the potential to transform the world as we know it today ultimately. The might of AI has made its way into most industries already and is increasingly helping them in ways no one ever would have thought possible. Take e-commerce, for example; a relatively new sector in the overall scheme of things, it has been quick to adapt to the continually evolving needs and demands of customers. Ever wondered how?
Yep, with assistance from artificial intelligence and myriad other technologies, of course. However, we’ll focus on AI for now. Take the urgent expectation of customers to receive service that is tailored to their requirements. Though a seemingly daunting task, artificial intelligence has empowered e-commerce platforms to deliver highly-personalized service to customers with a hitch. Another crucial aspect where AI has proven to be of valuable assistance is cart abandonment — in this regard, AI helps enhance customer engagement, thus reducing cart abandonment rates by a substantial extent. So, AI stands to support e-commerce business owners. Now, let’s see how it can be integrated into your business.
- Virtual shopping assistants: Essentially apps driven by artificial intelligence, virtual shopping assistants can rapidly process data to gauge customers’ preferences and budget. It closely monitors customers’ online behavior while browsing through the site and offers suggestions following that behavior and the data thus collected. As a result, users don’t have to make much effort to look for what they want, thus enhancing their experience with your e-commerce platform.
- Fraud and risk prevention:
Since artificial intelligence, among other things, keeps an eye on users and every move they make while visiting the platform, they quickly develop a deep understanding of typical behavior. It gives them a benchmark, and when someone deviates from this baseline, algorithms can quickly get into action to prevent any fraudulent activity.
- Simplified search: an e-commerce website will have a humongous catalog of offerings. In this context, an AI-powered search functionality makes use of NLP to understand customers’ queries better and provide more fitting results.
- Chatbot: A chatbot equipped with artificial intelligence can help customers save both time and effort of calling a helpline when they need assistance in regards to a service or product on offer. Instead, they can receive immediate help by merely typing out their query.
E-commerce is a fiercely competitive industry that needs assistance from novel technology and tools to keep up with the customers of today. As we mentioned above, there are a plethora of tools that will help you do just that, but artificial intelligence’s reach and impact are much better. So with help from a trusted eCommerce development company, you too will be able to tap into this new previously-unexplored potential the market has to offer.