5 Ways Artificial Intelligence is Molding E-Commerce

Taking the help of AI has become the first priority for every business to keep them ahead in the market competition. AI technology has been booming in every business sector as it helps to make a business grow much better. AI has the ability to manage your entire business and offer a personalized experience to your customers. With the help of AI, you can automate your inventory and it also offers 24/7 customer support to keep your customers satisfied all the time.

Here are five ways how AI is molding e-commerce:

Chatbots:

Chatbots have been a very useful tool created with the help of AI technology. Every e-commerce website offers a chatbot system that is created to communicate with your customers in a personalized manner. It is not possible to keep your customer service staff working all the time but with the help of a chatbot system, you will be able to be available 24/7 to support your customers whenever they face issues or difficulties in handling the products.

Predictive sales:

AI work on a regulated algorithm that can offer your predictive analysis and deep learning for all your business data along with the daily sales. This technology is helpful to understand your customer’s shopping behavior and it can also help you to manage your business inventory. You will be able to identify what products are lacking in your business and what products have increased its sales.

Recommendation engines:

Recommendation engines have been employed by a lot of big e-commerce industries like Amazon and Flipkart. With the help of an AI algorithm, you will be able to understand your customer’s shopping behavior and according to that, you will be able to provide recommended products to your customers. Whenever your customers try to search for a product, AI will provide them with more recommended options related to their products and encourage them to shop more.

Voice assistant:

“E-commerce is not an industry; e-commerce is a tactic,” said Tobias Lutke, cofounder and CEO of Shopify, a Canadian e-commerce firm that helps companies set up and run online stores.

Before the introduction of AI, people use to take the help of Google if they want to search for any products or want to compare the prices of different products. But with the help of AI technology, many e-commerce businesses have introduced voice assistants to their platforms. Now with just your voice command, you will be able to search for any products that you want to buy. Siri and Alexa are the best options for voice assistant technology.

Creating customer-centric visual search:

When a customer tries to search for a product but as result, they get irrelevant products then they will become unsatisfied with the business and shift to other businesses. AI uses the help of Natural Language Process or NLP to contextualize and to provide relevant search results to your customers.GroupBy reviews is a search, merchandising and SEO solution enabled by machine learning that empowers your digital team to deliver a personalized site experience that demonstrably increases online revenue, empowers your merchants, and reduces the costs and complexities of IT. GroupBy Inc. is helping leading retailers, such as Urban Outfitters, CVS, and The Container Store, increase conversions, revenue, and profits.