Artificial Intelligence has always been a topic of interest for most of us. In the early 90’s, Hollywood movies were centered on Artificial Intelligence and surprised us whether it would be possible or will remain as a fiction. With the passage of time, AI became an essential part of our lives and fiction turned to reality. From Tesla to Siri and Pandora to Nest, we have seen the dominance of Artificial Intelligence whether it be home, office or business.
Artificial Intelligence has also disrupted retail industry at large. The dominance of AI in e-commerce has helped companies to build better and closer relationship with customers. In fact, AI is changing the way e-commerce stores operate unlocking the ways to analyze big data, helping retailers to engage their customers on a new level and create better customer experiences.
According to Gartner, “all big e-commerce companies will use voice and visual product search by 2021”. Moreover, futurologist predicts that deploying AI solutions will bring 30% revenue increase to the marketplace by 2020. The question is why to implement AI in website development especially e-commerce ones. Let’s have a brief overview.
Offer Better Search Results
It is a fact that everyone is short on time and can’t wait patiently. The same goes for when customers are looking for information. They want everything faster and in the easiest way. At present, voice search is popular among youngsters, and in the future, it will be in high demand.
For instance, Siri, Google Assistant, and Cortana are popular voice search engines, based on deep learning. Voice search will go mainstream for every shopping store online, as the option is now an essential part of website development.
By leveraging machine learning, Artificial Intelligence Software organizes, tags and visually search content by labeling features of the video or image. Often we have seen that e-commerce websites do not display relevant results, resulting in abandoning the customers. Natural Language Processing will help narrow and improve search results for online shoppers.
Better Collaboration and Interaction through Bots
Chatbots are the present and future of e-commerce stores. It allows seamless communication and offers numerous benefits. For instance, you might know that they can offer 24/7 customer support. Moreover, with the improvement in chatbots, they will soon be able to identify human emotions, making it easier for shoppers to interact with the brand via chatbot.
It will cut off the communication barrier and make the shopping experience better than ever. Chatbots can also suggest and recommend products to the shoppers based on their past search behavior. It will help stores to drive more revenue, generate more sales and improve customer experience.
Not only limited to e-commerce stores, chatbots can be helpful in service industries as well including healthcare, insurance, and hospitality.
Delivering Valuable Content to Target Audience
Content is king and delivering the right information to the consumers is the driving part of any e-commerce store. In fact, triggering the right message at right time will drive sales and lead customers to buy your product.
However, it is not as simple as it may look without deploying Artificial Intelligence in your e-commerce store. It allows internet marketers to create relevant content at every phase of marketing funnel that is centered towards the pain points of customers.
With the help of algorithms, it is easy to gather information about the target audience through robust analysis and examining the data of competitors. It will help e-commerce stores to find what their audience likes and what their preferences are. With the given insights, curating content and providing an appropriate answer will no longer be difficult, resulting in higher customer engagement and conversions.
Offer Customized Shopping Experience
The number of e-commerce stores is increasing day in and day out. The competition is getting harder and tougher than ever. Therefore, brands should think of providing better and customized shopping experience to the customers. With the implementation of AI, stores can come up with the offerings that truly adheres to customer’s interest. For instance, if a customer is looking for a shopping deal on clothing and accessories, the store displays categories of products with deals, discounts, and promotions. It is only possible through leveraging of AI in an e-commerce store.
The goal is to not only provide smooth navigation but also provide customers with the best shopping experience, where they can find everything they need. The customer at the end of shopping session must feel that the store was created only to serve them.
Enhanced Marketing
E-commerce marketers can benefit from machine learning as a part of Big Data analysis and Artificial Intelligence. A number of opportunities can be availed by e-commerce marketers including:
Conclusion
Artificial Intelligence is going to be the driving force for businesses including e-commerce stores. If you are ignoring the latest technological deployment in your business processes, you might not be able to stay in the market. Before AI becomes the necessity, make sure to take the step before it’s too late.