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Unless you have been marooned on a desert island, chances are you know what Artificial Intelligence (AI) is and have experienced the benefits of machine learning is having on customer experience and business operations these days.
One question certainly comes up in your mind – How can we utilize AI i.e. Artificial Intelligence in e-commerce business in 2018?
In this blog, we will discuss some of the most powerful as well as practical ways that retail businesses or e-commerce businesses or Custom E-commerce development are utilizing AI at present world of online shopping. Other great tech companies, like Facebook, IBM, Yahoo and much, much more have already publicly expressed their focus on AI, it development, the new source of business.
AI is presently a popular topic no doubt in business with Gartner predicting that by the year 2020 Artificial Intelligence would be a top 5 priority of investment for more than 20 percent of CIOs.
AI has started to embed itself into all facets of our lives. From the very first day, the growing number of self-checkout cash registers to advanced safety checks at the emergency point or airport; AI or artificial intelligence is just about everywhere and everything.
It is widely anticipated that AI is a set and it is to go into the turbo drive in the next few years with big guns, because Google, Microsoft, and more conglomerates already invested billions into new Artificial Intelligence initiatives.
Of late Google has invested more than 400 million Euro to purchase of the start-up DeepMind, a renowned AI company specialized in algorithms as well as machine learning for positive influence, is just one of the many different expected acquisitions as the potential of AI and that becomes the reality.
Artificial Intelligence Improves the Shopper’s Experience
Artificial Intelligence can enhance the shoppers’ experience quick and easy by delivering the personalized product recommendations. One of the primary ways of Artificial Intelligence has taken the Internet world by storm by giving highly personalized experiences and shoppers’ desire. AI is presently closing the gap between the patterns of detecting from a large number of data sets as well as intent, which is called the role of traditional human marketers, including the merchandise. For now, Artificial Intelligence will not completely replace all types of human effort, but it would dramatically enhance the effectiveness of e-commerce teams who use it while enhancing the extensive experience of shoppers who normally buy from AI-centered e-commerce businesses.
In accordance with the Boston Consulting Group, using Artificial Intelligence to personalize the consumer journey is no other than the huge value-added thing that those have been implemented with the individual strategies to see the sales gain of more than 11 percent, a rate 2 to 3 times faster than the other retailers have. There are many different e-commerce websites use Artificial Intelligence powered product with the recommendations of engines to target as well as personalize things that products display to the customers. Personalization, Chat Bots, Voice and the introduction to Predictive Analysis
Artificial Intelligence-powered personalization tools and that now extending into a new stage in the wide array of customers’ journey, such as personalization of search results on e-commerce websites to each and every person, particularly shopper as well as injecting the personalized product or service recommendation into the latest digital touch-point.
One of the most transformative Artificial Intelligence powered tools that we would experience, as consumers would utilize the natural language processing that is called NLP to know or to understand as well as respond the voice as well as live chat communication.
NLP or Natural Language Processing into voice commerce tools as well as virtual personal assistants or VPAs not only transform the consumer to interact with e-commerce websites but also help and allow them to search as well as buy-in utilizing the voice commands in the scenarios wherever the customer does not have a touch screen or computer.
To sum it up, AI has started transforming the entire e-commerce journey and continue to change the online shopping, which is one of the most revolutionary changes to the e-commerce marketing and business at the same time. Today’s e-commerce businesses are now able to harness that power to improve consumers’ shopping experience.