Long-distance AI applications in eCommerce help businesses maximize their profits by optimizing and automating decisions from web design to customer support.
AI helps online businesses to identify patterns from unstructured data sets and provide them with a personalized experience. Here’s how AI can empower the e-commerce industry.
1. The rise of voice assistants and voice search
The AI E-commerce website has the potential to increase accessibility and empower users through voice assistants.
With larger product directories and more information, AI-powered voice assistants allow customers to use natural language to reduce or eliminate manual effort, making things easier for them.
Technological developments include the ability to use voice assistants and voice search AI. They now offer visual speech recognition experience, but artificial intelligence handles challenges such as background noise and accents.
Ecommerce bigwigs like Amazon already allow customers to see the best deals and buy online with voice-controlled helpers. Not surprisingly, voice commerce sales are expected to reach $ 40 billion by 2022.
2. Building stores from scratch
Web store design has increased tremendously in sophistication and scale over the past decade. It has evolved so much that AI is now doing that for you.
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The combination of artificial intelligence and machine learning enables artificial design intelligence (ADI) tools to understand creative rules and apply them independently. It enables technology to automate web design work, helping customers build eStores from scratch.
Powerful website builders like Vix provide AI-powered design help, allowing you to create estores in under 30 minutes. The tool asks a series of questions, including the type of website you want and your design preferences. Within 2 minutes, you’ll get a pre-populated, customizable, fully-featured website with contact details and logos. Of course, you can still adjust the design, but this method works great for users who want to run a website faster and faster.
3. Chatbots: Enabling more sales and better customer service
AI-powered chatbots allow you to sell to the right person at the right time. No wonder 80% of businesses will start using chatbots by 2020.
Customers, especially Millennials, are tired of waiting too long to talk to an actual representative when they call a company. They prefer fast chatbots and deal with inquiries quickly, reducing the average wait time from 11 minutes to 45 seconds.
Chatbots can be used to:
Provide 24 x 7 customer service to ensure global coverage.
Over-selling based on consumer past purchases.
Restore abandoned carts by sending well-planned reminders.
Answer them when the customer is on the go while shopping.
Offer customers exclusive codes and coupons.
Spare time for your manual customer service to focus more on product/contract specifications and business development.
4. Hyper-personalized product recommendations
AI-based product recommendations increase eCommerce revenue by up to 16%. When a shopper creates an account with the e-commerce portal, each browsing session and transaction causes data.
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The AI algorithm processes this data to predict which products the shopper will buy. These hyper-personalized recommendations are valuable to the e-commerce platform (by promoting greater product visibility and driving sales).
5. Good inventory management and sales forecasting
Use AI-powered tools to manage your inventory with as strict control as possible, minus any manual effort. Store exactly what you need and optimize your stock levels at any time.
Adding AI capabilities to a list of e-commerce store campaigns helps to avoid excessive reserves, thereby reducing the amount of money in inventory and freeing up space.
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Amazon uses AI to automate its inventory management process, reducing the amount of time it takes to move products into storage centers.
AI can also help critters create shipments with smarter volumetric weights that reduce logistics costs. Similarly, AI helps any e-commerce company fine-tune sales forecasting activities. This helps to promote the products the e-retailer sells.
6. Superior security for customer data
The biggest responsibility for e-commerce stores is to secure customer data.
Estores are prone to fraudulent activities such as hacking and extra jogging.AI can help increase the security of your database.
Final Thoughts:
AI has the potential to improve the performance of e-commerce sites, and forward-thinking retailers are using technology to great effect. Online retailers use AI’s predictive capabilities to build strong relationships with customers by personalizing customer experiences, thus generating repeat business. For many e-commerce websites, AI provides an undeniable competitive advantage. However, it soon becomes a part of everyday business and those who integrate it into their operations are one step ahead of the pack.
