The internet has opened the door for revolutionizing various sectors. E-commerce sector is one of them. E-commerce sectors have unlocked new opportunities and scope for retailers. Retailers also have never seen such a growth in their sales. Artificial intelligence is taking E-commerce to the next level. In this article, we are going to discuss 10 applications of artificial intelligence in E-commerce.
1. Chatbots
E-commerce websites are using chatbots to improve customer support services. Chatbots are providing 24/7 customer support to buyers. Visit any recognized E-commerce website. You will be prompted with a chatbox asking what do you want or how can I help. You can tell your requirements in the chatbox and you will be served with highly filtered results. Chatbots are built using artificial intelligence and are able to communicate with humans. They can also collect your past data and provide you with very personalized user experience.
2. Image search
Ever come across a situation where you liked any product or item but don’t what it is called or what it is? Artificial intelligence service eases this task for you. The concept of image search is implemented in E-commerce websites with the application of artificial intelligence. Artificial intelligence has made it possible to understand the images. Buyers can make a search on the basis of images. Mobile apps of E-commerce websites can find the product by just pointing the camera towards the product. This eliminates the need for keyword searches.
Also Read: Top 10 AI Trends In Marketing Should Watch for In 2020
3. Handling Customer Data
E-commerce platforms have two things in abundance. On is an endless list of products and the other is data. E-commerce has to deal with a lot of data every day. This data can be anything like daily sales, the total number of items sold, the number of orders received in an area, or as a whole and what not. It has to take care of customer data also. Handling that amount of data is not possible for a human. Artificial intelligence can not only collect this data in a more structured form but also generate proper insights out of this data.
This helps in understanding the customer behavior of the whole population as well as of the individual buyer. Understanding the customer buying pattern can make E-commerce to make changes wherever needed and predicting the next buy of the user also.
4. Recommendation Systems
Have you ever experienced how E-commerce websites like Amazon are constantly showing the products similar you just checked? Well, this is the application of artificial intelligence in E-commerce. AI and machine learning algorithms can predict the behavior of the buyer from its past searches, likings, frequently bought products. By predicting the behavior of the user, E-commerce websites are able to recommend the products that the user is highly interested in. This improves the user experience as the user no longer have to spend hours searching for the product. It also helps the E-commerce websites to improve their sales.
5. Inventory management
Inventory management is one of the most important areas in any business. You have to keep yourself updated on how much inventory you are holding and how much more is needed. There are thousands of product categories over E-commerce websites. Keeping an eye on the inventory of all the products daily is not possible for a human. This is where artificial intelligence comes into the picture. Artificial intelligence applications have helped E-commerce in managing the inventory. Moreover, the inventory management system will get better over time. AI systems build a correlation between current demand and future demand.
6. Cybersecurity
Artificial intelligence has also improved the cybersecurity of E-commerce websites. It can prevent or detect any fraudulent activities. E-Commerce has to deal with a lot of transactions on a daily basis. Cybercriminals and hackers can hack the user account to gain unauthenticated access. This can lead to the exposure of private data and online fraud. The reputation of the business also gets a big blow. To prevent this, Artificial intelligence and machine learning algorithms are developed that can mitigate the chances of fraud activities over the website.
7. Better Decision Making
E-commerce can make better decisions with the application of Artificial intelligence. Data analysts have to handle a lot of data every day. This data is too huge for them to handle. Moreover, analyzing the data also becomes a difficult task. Artificial intelligence has fastened the decision-making process of E-Commerce. AI algorithms can easily identify the complex patterns in the data by predicting user behavior and their purchasing pattern.
8. After Sales Service
Selling the product is not enough. Businesses have to aid the customer in the complete buying cycle. After-sales service is an integral part of the after-sales service. Artificial intelligence applications can automate the feedback form, replacements, and handling any other ambiguity in the product. By solving the buyer’s issues, the brand value of the website gets improved.
9. CRM
In the past, Customer Relationship Management (CRM) relied on the people to collect a huge amount of data in order to collect the data and serve the clients. But today, artificial intelligence can predict which customers are most likely to make a purchase and how can we better engage with them. Artificial intelligence applications can help in identifying the trends and plan the actions according to the latest trends. With the help of machine learning algorithms, advanced CRM can learn and improve over time.
10. Sales Improvement
Artificial intelligence applications can generate and predict the accurate forecast of the E-commerce business. The study of historical data, data analytics, and the latest trends can help in optimizing resource allocation, build a healthy pipeline, and analyze team performance. The managers can get a better insight into the latest trends in sales. They can analyze the trends and can improve sales by making strategies well before time.
Conclusion
Digital Platform has made life easier for the retailers as well as buyers. E-commerce websites are witnessing an exponential hike in their sales. Artificial intelligence has helped E-Commerce websites in providing better user experience. Artificial intelligence research in the field of E-commerce is leveraging the sales of E-commerce too.
Also Read: Top 10 Ecommerce App Development Companies In New York
This section covers how Artificial Intelligence can help you achieve these goals.
We’ve seen internet-based commerce, mobile commerce, and it’s now AI in e-commerce.We were overwhelmed with chatbots and personal helpers.
And there are many useful alternative applications of Artificial Intelligence.
IMHO, chatbots have a long way to go, and the ambitious goal is to replace humans with AI.
Machine Intelligence will impact them with the best-in-class user experience.
It can help you in designing a new website or adding smart widgets to your existing site.
Online ShoppingAs the world started to get more connected and has become a global village in the right sense of the word, it has not only impacted the way people communicate and stay in touch but also has an impact on the way businesses make strategies.
However, just like many other things, online shopping has evolved over the years, and no doubt the e-commerce future trends will be different from the ones that we have nowadays.
The same is true for future trends in online shopping.Future Scope of Online Shopping WebsiteStarting an online shopping website can be expensive, however, of course, it is not as expensive as opening an offline retail store but you would like to know about the future scope of the online shopping website before you invest in it.
When the online shopping trend was emerging the stores that were opened back then are now running successfully and are on the top like Amazon however it's not too late now too.
You need to provide your customers with some services or benefits that other websites are not so that the customers would prefer your website over the others.Future Online ShopA few decades ago when people did not have this much access to the internet and devices like phones and laptops, there was no concept of online shopping and some people might have never thought that their shops will look like this in the future.
It is because many companies on the global level are working for the future in the enhancement of online shopping to attract customers to their websites and of course if they do not do so, they will be left behind in this fast-growing technological world.Future Scope of Online ShoppingThe future scope of online shopping is bright and is expected to reach its peak within this decade.
Hyderabad, it's time to Shop local online.India's burgeoning logistics sector is boosted by a growing consumer class’s of online shopping, just one click and everything is at the doorstep.
Shopping in Hyderabad seems to enjoy not just purchasing luxury but also the everyday necessities swiftly from the comfort of home, leaving the local market's doldrums.These shifts have led a number of industry observers to predict the end of retail with change more in the next five years than it has over the past century.
Soon or later the brick and mortar will vanish.
Hydstores.com aim to sustain these changes by bridging the gap between retail stores and online consumers to win in the long term.The rush of new technology in recent years has made it trouble-free than ever for customers to play between brands, so how are prime retailers uphold brand loyalty among their customers?The solution is the tact of user experienceDesigning comfortDelivering a good user experience through the medium of new technology is well known with the leading retailers.
Do you know that most of these mainstream websites mainly outsource the products from other states or overseas, whereas the same product available in your city is collecting dust?
The ability to complete these transactions so quickly and seamlessly keep customers coming back.
The Gilded Tarot Boxed SetBy Ciro Marchetti and Barbara MooreMost Tarot decks with really spectacular designs are really just art collections.
The Gilded Tarot transcends this limitation by having some of the most strikingly beautiful art on any Tarot deck, yet follows the Rider-Waite-Smith model.
The result is a unique deck that any person with some Tarot experience will find instantly familiar and usable.
This deck can be used with any Tarot system or book.Designed by Ciro Marchetti, and an award-winning artist from the United Kingdom, wants to envelope you in the beauty of this deck.
The Wheel of Fortune shows the zodiacal wheel around a solar center as part of a bizarre, almost alien machine.
The Hanging Man follows this machine concept, but he is dressed in brilliant reds and greens.The colors are deep and intense, almost metallic.
The eCommerce business is soaring higher than ever.
So, in the fiery competition of the eCommerce space, it is necessary to keep pace with the growing technology.
TheeCommerce companies which understand the technology trends and craft the e-commerce platforms by using the new technology in ecommerce web design company in dubai have more chances of succeeding.As the statistics over the past few years suggests, e-commerce companies that focus on innovation and the latest trends have seen significant growth in their revenue generations.
Besides, the latest eCommerce website design trends have boosted the overall online shopping sessions and have increased sales.
On the other hand, the eCommerce companies which failed to identify and reflect the eCommerce Website Development trends have trailed behind...Read More Here
