In What Ways is Artificial Intelligence Revolutionizing eCommerce?
retailciooutlook

In What Ways is Artificial Intelligence Revolutionizing eCommerce?

By: Retail CIO Outlook | Wednesday, August 05, 2020

Customers being the lifeline of all businesses every collective strategy, innovative technologies, the intuitive business design attempts to improve the customer experience

Fremont, CA: Artificial intelligence (AI) augmented the approaches and helped to frame out outstanding business practices at scale. By the end of 2025, AI revenue is expected to supersede to $36.8 billion. Businesses are inventing new modes of communication to engage the customers. AI helps in the process with more accurate data and allows the eCommerce shops to find the right customers.

Here are some changes and the benefits that AI brought in the eCommerce sector. Top 10 POS Solution Companies - 2020

Personalized Communication: 

Once a customer steps into a shop, the way they greeted, navigated, and communicated makes a lot of difference in the purchase decision. Here the role of intelligent chatbots comes into play. AI-powered chatbots are transitioning the conventional mundane customer interaction. With the help of ‘natural language processing and machine learning tactics, intelligent chatbot communicates like real human beings. AI chatbots provide personalized communication by understanding the misspelled words and different types of sentences. Many companies are building business-appropriate chatbots to cater to customer inquiries. 

Intelligent Visual Search Engine:

The power of visual search cannot be ignored, and it might have occurred to anyone- struggling to find out the substantial details of something which has found fascinating but impossible to go for an in-depth personal inquiry. However, visual search engines eradicate all the trouble and facilitate searching for anything with a decent snap.

Predictive Marketing and Sales:

The art of business forecasting includes complex data analysis and intricate business modeling. It not only completes the time but also continues to make trouble throughout the business. The massive increase in data stacking is such a difficult task to handle with limited resources. Since AI took over the data management task, businesses can now gain a significant advantage throughout their sales cycle. It stops the marketing team from misleading data rush on specific seasons and saves plenty of time. Plus, it deletes redundant data collection and processing. 

 Thus, the AI-enabled data-driven business approach allows them to make accurate lead scoring and sales prospect. Also, analyzing historical and real-time data, artificial intelligence allows the strategists to formulate better decisions for business growth. Including market trends, demographics, user behavior, seasonal shopping habit of people, AI helps to forecast the sales and therefore enables to frame out an effective marketing strategy.

See also: Top Procurement Consulting/Service Companies In APAC

Weekly Brief

Read Also