You would have already heard of the power of Artificial Intelligence and by now, most people know how AI will shape our world in the coming years. But the question is how can eCommerce stores leverage AI? What are the benefits that AI can offer to online business? And, what will be the future of AI in the eCommerce industry?
eCommerce businesses have implemented an AI approach to identify the interests and preferences of customers, provide relevant suggestions, generate new leads, handle customer data, and provide their customers with the best shopping experience. Letís see how AI in the eCommerce industry evolved.
Evolution of AI
Artificial Intelligence has played an integral part in the transformation of traditional shopping experience. eCommerce stores implement AI technology to take their online business to a whole new level. From evaluating data sets to identifying customer's interest and providing them with a personalized experience, AI can do it all for you.
In the past few years, AI in the eCommerce industry has witnessed major growth. Not only this technology allowed business owners to take their land-based store to the online world, but it introduced some interesting features such as chatbots and voice assistants. Recently, AI has introduced image search technology. Now, users can click the picture of their desired items and search for a similar brand in the search engines. No doubt, this trending technology will keep evolving in the coming years.
Advantages of AI
Currently, AI is used by some of the giant organizations such as Alibaba, Amazon, and eBay for a product recommendation, lead generation, customer interaction, and detection of inauthentic reviews. According to the statistics, 40% of customers use chatbot services to find the latest offers and deals. AI allows businesses to focus more on the productive and marketing tasks while the machines take care of the time-consuming manual jobs. Some of the main advantages of AI in the eCommerce industry are:
It produces the most relevant and customer-centric search results.
AI helps eCommerce stores to achieve customer retention by improving their shopping experience
It provides a personalized experience to your customers.
It offers chatbots and virtual assistants that guide customers throughout the shopping process and provide them with a hassle-free shopping experience.
Considering the previous purchasing records, interest, customer buying preference; AI presents the best and most relevant product recommendation.
AI filters inauthentic reviews and helps eCommerce stores to identify fake ratings.
10 Use Cases of AI in Ecommerce
AI not only helps businesses to automate the manual tasks but it allows customers to enjoy the best buying experience online. Here are the 10 use cases of AI in Ecommerce:
Better and relevant search results
Filtering fake reviews
Managing customerís data
Future of AI in eCommerce
We have seen how personalized shopping experience, image search features, relevant product recommendations, and the chatbot system have improved the customer's shopping experience. According to recent market research, more than 85% of customer interaction will be managed by Artificial Intelligence. This trending technology will bring a lot of changes in the eCommerce industry in the coming years. From improving the decision-making system to producing valuable business insights, AI will take the customer shopping experience to the next level.
Artificial Intelligence has re-shaped the eCommerce industry. It has removed all the barriers that could affect the customer's buying decisions negatively. If it continues to grow at the same rate, AI will expand the eCommerce industry in no time.