Benefit of using artificial intelligence in E-commerce industry

by Klaus on September 30, 2019

in Articles

You have probably heard the word Artificial Intelligence (AI) unless you have been practicing asceticism in the deepest part of the caves of the Himalayas for the last 20 years. Artificial intelligence is not just a fantasy or a profitable concept of the Hollywood anymore. Now, it’s real, it’s here and everywhere. It is certainly affecting our choices and even our lives in a positive way. 

With its help, we now making thoughtful choices than we used to a decade back. The e-commerce industry has begun to harness the power of the AI. With the help of big data, the e-marketers know about the things that interest us. And they have successfully managed to integrate that information into flashy shopping recommendations (ads) with the help of actionable sales intelligence. 

No doubt, AI enabled many companies to generate awestruck revenues. This caught the attention of a number of Seo Firms in Dallas and as a result, more and more small to medium scale businesses are making their presence online every day. Big-commerce development companies along with E-commerce experts with good knowledge to make best use of AI are now highly in demand. 

Okay, given that the huge amounts of profits the companies are rapidly making, one might ponder what significance does the AI holds for a customer, the undisputed backbone of the entire sales process? Collaborative studies show that today’s online-customers are making smarter choices unlike they used to years ago. Back then, one might have ended up splurging on the things one didn’t actually need. The reason being that the e-commerce market wasn’t configured to show personalized results based on the individual’s search history or choices or interests. The search results were fraught with ads that were neither personalized nor interesting.  

However, AI became the harbinger of the whole new era of better and personalized customer experience resulted in increased sales. And by considering the speed it’s spreading its presence, nothing seems to be going to deter it. 

According to a collaborative study done by Business Insider, 85% of the customer interactions will be taken care of by Artificial Intelligence by 2020. This indicates the fact that how much stronger the AI is getting and how effectively it is affecting the online market as well as our lives. 

The companies that develop intelligent automated programs with the ability to mimic human interactions suggest focusing human talent and efforts on the more pressing areas. Lots of companies have already integrated Chatbots to their websites. These chatbots are configured to understand the query of a human based on the already stored information and logically provide a solution. Automated emails, phone calls, and comments are just the beginning of the future artificial intelligence will explore and we will benefit. 

What Value Artificial Intelligence Hold for E-commerce Companies?

E-commerce companies are amongst one of those sectors that are availing the power of artificial intelligence to its fullest. Not long before the search engines started to gather user’s search history in order to improve the search predictions. Users were already provided with functionality to turn off the tracker upfront. However, after some time, gigantic clusters of internet users experienced and appreciated the dramatic improvements in their search results as well as in the ads shown thanks to the AI. 

That search history gets stored in a secure database and later, used to personalize the customer experience of a user. That directly benefits the e-commerce companies because they now know if there are users who would like their product or service. And, after a detailed speculation of big data, the right customer sees the right product at the right time.

Artificial Intelligence: Emergence of a New Kind of Business

To become a successful startup, you need to provide something that’s already not there and will ease the lives of a huge population. Many firms that provide predictive marketing (AI) services exemplified it. These companies offer artificial intelligence services that help other firms engage their customers in an impactful way. Information was never been proven that powerful before. Now, with the help of predictive intelligence companies, the sales team can personalize their sales cycle and can identify the possible prospects.

E-commerce companies may consider availing the services of these companies for winning new business every now and then. There are millions of people who regularly shop online. However, it is always better to focus on those few hundreds that may want to buy from you. And, prediction intelligence service provider companies helps you to do that.

Many companies have Already Availing AI. Have You?

Companies like Getty images have started using Mintigo to spread their approach to a wider yet thoroughly analyzed possible customers. Availing artificial intelligence not only helps them get new and regular customers but it also helped them keep an eye on the activities of their competitors. 

Even the top search engines such as Google and Bing records users activities so that they can improve their search and ad results. Highly-accurate and personalized results are the reasons why most of the people depend so much on search engines for surfing. Customers who buy online don’t usually like to bother putting verbatim keywords and invest a lot of time in searching for the desired product or services. They want the best suitable product for them in minimal time. And, that’s where artificial intelligence come in handy. 

The IBM’s Watson is another great example which is being used by a company and for what? To help the user to buy the extremely personalized T-shirts. The users have to answer questions like “where would you like to wear the t-shirt?” and, based on the user’s answer, it filters out all the possible results that the user might not appreciate. Some hi-tech retail stores are also using AI to increase their sells through analyzing user’s activities. For instance, a facial recognition software tracks how much time a user spent on a particular section of the retail store. 

Don’t let the science fiction Hollywood movies deter you for incorporating the AI in your business module. Artificial intelligence can not only boost your business to the next level but can also help your customer to get personalized ad and product recommendations.

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Sami October 2, 2019 at 13:31

Thanks for sharing this useful article.
Sami recently posted… Critical Exim Vulnerability Exposes Email Servers to Remote Attacks

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