There is no such industry that has remained untouched by the influence of artificial intelligence. From virtual reality gaming systems to artificially intelligent robots in industrial manufacturing, the progress of AI technology is revamping the way we communicate with the world. But e-commerce has been specifically susceptible to the disruption caused by AI as algorithms and other learning technologies are highly influencing the way people buy and sell goods online.
With artificial intelligence in the scenario, e-commerce with no longer be following the traditional method of stimulating customer demand through advertisements. As artificial intelligence is able to process and assimilate a massive amount of data, therefore, it is able to predict customer needs and analyze user behavior. Overall, artificial intelligence is a promising technology that aims to streamline the entire e-commerce chain. This blog discusses how AI has impacted the e-commerce industry in recent years.
5 Ways AI is Revolutionizing the E-Commerce Business
Here are some of the ways AI is disrupting the e-commerce industry:
1. Virtual Assistants and Chatbots
One of the main benefits of shopping from physical stores is the availability of voice assistants or employees who can help you navigate the stores and find the products that you are looking for. However, with people now shifting to online purchases, e-commerce applications are now implemented with chatbots and virtual assistants. With the technology of AI, these chatbot offers users 24 into 7 support.
The users just need to type their queries or interpret voice-based interactions through a natural language processing system. With eCommerce app development services, e-commerce entrepreneurs are now investing in implementing chatbots into their online stores.
2. Fraud Detection
With the growing number of e-commerce transactions in the last few years, there has been an exponential rise in the number of digital frauds. In this context, organizations that are operating in the e-commerce industry need to find an innovative solution for keeping the customer’s data safe. This can be done with the implementation of cutting-edge tools and technologies that ensure end-to-end payment encryptions.
Also with AI entering the scene, businesses can now successfully detect spam, thus preventing fraud. Along with machine learning algorithms, AI can analyze data from online transactions and detect patterns that may indicate the presence of any fraudulent activities. In this way, e-commerce businesses can lower the risk of cyber exposure, thus reducing instances of fraud. This also helps the customer to put their trust in your brand and make a seamless purchase.
3. Visual Search Engine and Image Recognition
Visual search engines and image recognition are one of the most exciting trends of AI in e-commerce. This is an AI-driven technology that enables users to discover products or services with a single click. Visual search reads images to find the size, color, shape, proportions, and even texts for identifying product brands and names.
This type of search is a keyword-driven search that instantly delivers the expected results. With the help of visual search engines, users are able to find products by directly uploading images from their smartphone or device, thus getting more accurate and faster results.
4. Voice-Powered Shopping Assistant
The voice-powered shopping assistant is a technology that is still growing but once developed it will be used optimally. This type of shopping assistant can make the online shopping experience of the users more pleasant and interactive. It enables them to have a real-time conversation with a virtual shopping assistant just as one experiences during shopping from a physical retail store. This will give a more human and personal touch to the online shopping experience that can increase customer retention and engagement.
The key here is to utilize artificial intelligence by combining it with NLP. By doing so, e-commerce platforms will be able to engage a huge number of customers and offer them an intuitive experience. With an NLP-backed e-commerce application, customers will be able to express their requirements and needs in deeper detail through e-commerce search engines.
5. Personalization
Artificial intelligence has incredibly adapted to providing a personalized experience to its customers through artificial intelligence. AI algorithms in the upcoming years will sift through huge databases for retrieving actionable insights into customer behavior. This will help e-commerce businesses in predicting what exactly their customers need and when they need it.
AI can also be utilized for retrieving information from the shopping history of customers and suggesting products on the basis of their searches. This AI technology can also be utilized in e-commerce websites. Personalization is the only key to a great and pleasant customer journey which is why most e-commerce businesses are now leveraging AI algorithms for advertising and marketing purposes.
In a Nutshell
AI is poised to disrupt the entire e-commerce sector. The capabilities and applications of AI are attempting to solve real-world problems in the e-commerce industry and will continue to evolve in the upcoming years. Whether you own a small-scale or large retail website, all you need to do is integrate your e-commerce business with the top technologies of artificial intelligence that can make your business run eventually.
Scale your e-commerce business by connecting with the best e-commerce mobile app development service provider, who can build you a feature-rich e-commerce platform.
