Top 10 Ways to use Artificial Intelligence in E-Commerce

The e-commerce business is flourishing and the blossoming trajectory of e-commerce is said to accelerate further. The revolution in e-commerce has set many successful business models that are not only successful but intriguing many business owners to venture into. According to experts, E-Commerce market is all set to reach $27 trillion and only in India, it is expected that more than 10 million sellers to join this domain by 2020.  

The mobile & internet penetration have helped the e-commerce marketing to achieve growth in many folds. Artificial Intelligence (AI) will be the latest revolution after mobile & internet. Now it is the era of AI Commerce. E-commerce companies have been entering into partnership with technology partner to build robust solutions that help them to retain customers and retain more and more customers. It is expected that the revenue in e-commerce business likely to touch $36.8 Billion worldwide by 2025 with the implementation of AI.

The implementation of AI in e-commerce will help the business owners to get the best results. In this post, we will discuss the implementation of AI in e-commerce.

1. Voice Assistants

Customers are acquainted with digital devices and assistants alike Google’s Alexa and Apple’s Siri. Now internet users can search the information by giving commands and in the case of e-commerce, it will have major impact. Of late, e-commerce companies are aiming for ‘Voice Optimization’ in order to reach the customers searching through voice command. The AI will be useful for the companies to implement the technology.

2. Customer Experience

When it comes to online sale, customer experience matters much. E-commerce companies have been working with tech companies to develop their stores and mobile apps having customer-centric experience especially. AI technology will help the companies to develop their e-commerce domain, market place and mobile apps as per their budget and their customers’ interest. AI will help customers to find their favorite products by doing simple few steps.

3. Automation

Automation is the next process that will be a must for e-commerce companies to grow in long-run. The AI will help customers as well as the owners to get desired results. For customers, the implementation of AI will be useful in getting their shopping done with having multiple options on their screen. For business owners, the process can the optimized by implementing the AI. The implementation will have major role to play in the providing discounts, sales, ordering new products and managing inventory.  All the process will work in parallel another creating perfect synchronization.  

4. Sales

The biggest scope of the e-commerce market is the sales. With the implementation of the AI in the sales process, the industry is going to have huge sales in every season. Sales team have been following and working with their leads to close the deal. In the e-commerce market, there have been constant follow up for users those left the site, app or application, without any deal. The AI implementation will help to retain the customers and generative as many as sales. It will enhance customer shopping experience and can target to reach to potential buyers by showing their lucrative offers and discounts.

5. Chatbots

 E-commerce players are becoming sophisticated with the implementation of AI.  The AI can be used in Chatbots that can give a personal touch to the customers. The chatbots are designed to stimulate conversation with the users and help them in their shopping. The chatbots work intelligently to crack the deal and get the sale done. On the contrary, the chatbots will give best shopping experience to the users and eases the stress of marketing & sales team.

6. Check Fake Reviews & Products

Counterfeit products and fake reviews are the major challenges that e-commerce owners face in their day to day transactions. The implementation of AI will be useful to check the counterfeit products and fake review of the products listed on their apps or site. The technology will help to track each and every product listed and it can also filter out the fake reviews to give best shopping experience to the customers.

7. Cybersecurity

Safe transaction is the biggest question mark for the online shoppers. The AI implementation will be useful have strong cybersecurity solutions in place to check any kind of fraud. E-commerce platforms will become more secure and safe by implementing AI and deep learning into security solutions.  

8. Personalization

AI and machine learning technologies have been using in designing apps and stores that are automated and enhances engagement model. It will take multi-channel approach to show and interact with the customers about their choice, which ultimately will turn into sale.  It is useful for online interaction and to suggest the customers. It will deliver seamless customer experience across all the platforms.  

9. Predictive Pricing & Incentives

AI and machine learning will help e-commerce retailers to add dynamic pricing layers to their products. The technology will understand the behavior of the current user and modify the price as per their choice and activities. The parameter to sale some products to be determined by the AI, which could be based on the customers spending pattern.  The implementation of AI will also allow giving discount & incentive to some customers as per their behavior.

10. Visual Search

This will be an interesting feature for the customers to give a try on e-commerce market place. By simply putting a visual they can get the related products on their screen and they can make transactions. This feature is already available with search engines and some social media sites. Once it is implemented with the AI in e-commerce domain, it will give big push to e-commerce industry.  

Artificial Intelligence powered solutions are the game changes in the e-commerce domain. The market is growing rapidly due to the internet & mobile penetration across the globe. With the implementation of technologies like AI & ML, the e-commerce domain will be more secure and generate more revenue.

Please do follow us on Facebook, Twitter & LinkedIn.