Future of Digital Commerce and Artificial Intelligence

Have you been keeping up with the digital marketing trends lately? Then you must be aware of the latest trends about digital commerce and AI. From digital marketing experts to SME entrepreneurs, everyone is trying to incorporate AI in their respective business and get the most out of it. If you are not familiar about the invasion of AI in E-Commerce, then you are missing out on one of the hottest trends this year.

AI solutions work as the easiest solutions to your E-Commerce business. The best part of incorporating digital commerce and artificial intelligence is that it does not burn a hole in your pocket yet manages to generate business worth thousands of dollars for you.

This article reflects on the powerful ways in which AI can be used in digital businesses, from the self-checkout cash registers to security checks at the airport, we are surrounded by Artificial Intelligence everywhere. With tech giants like Google and Microsoft investing heavily into AI, it is all set to experience a big hike in the next couple of years.

One of the great examples of this is Google’s recent purchase worth £400m, DeepMind which is an artificial intelligence company that specializes in algorithms and machine learning for positive impact.

Whereas giants like IBM, Facebook and Yahoo are already considering artificial intelligence as a new source of business. According to a recent study by Business Insider, as much as 85% of the customer interactions are been carried out without human interactions. This helps the businesses generate new leads, understand their existing customers and provide an enhanced customer experience.

Understanding AI and Machine Learning

Before we delve into various options in AI eCommerce, let us get familiar with the terminology first. Here are a few common terms that we should understand

Artificial Intelligence

The ability of a robot to complete tasks without any human help. Thus, AI is basically the application of algorithms to make decisions.

Machine Learning

The ability of a robot to define its own rules and improvise them according to the algorithm to get better results.

Future of AI in E-Commerce

Now that we understand what AI means, it is not as complicated as it sounds. Once you start using it in your E-Commerce business, you will realize that it is not an expensive option per se.There a number of ways in which you can use artificial intelligence depending on your website structure and design.

Have a customer-centric search

Artificial intelligence gives businesses a fierce competitive edge regardless of the size of the company or its budget. A recent example of this is Twiggle, a business that lets E-Commerce search engines just like humans. This right here is a successful model as it focuses on customer satisfaction. You might lose a potential customer because of the irrelevant results that you search bar shows. To tackle this problem, Twiggle uses natural language processing to narrow and improve search results for online shoppers.

Another great example is Pinterest’s Chrome extension update, that lets a user select an item in a photograph online, and then request Pinterest to show similar items using the image recognition software.

These examples teach us how shoppers can use AI to help discover its customer’s complementary products according to the shape, size, color, fabric or brand. The usual impacts of these are breath-taking.

For instance, your customer might like someone’s pin shoes at the gym and use your AI-equipped site to find similar items and make a purchase.

Retargeting Potential Customers

If we look at the retail sector, facial recognition is already being used to identify shoplifters by scanning the faces on CCTV. But how to use AI in E-Commerce to enhance a customer’s experience? A large number of AI Commerce are no using facial recognition to capture dwell times of the customers in the physical stores. Now we use this information to reflect offers on the customer’s computer or mobile screen. For instance, if a customer spends significant time in front of an iPhone, his screen will have special offers on iPhone reflecting while browsing.

Developing an efficient sales process

These days, customer’s lives are reflected a lot by advertisements across a variety of platforms from TV commercials to Social media. If you are focussing on your problem-solving skills and thus delivering a strong sales message that reaches to the customers at the right time, then integrating AI into your customer Reputation MAnagement is the way to go.

A lot number of AI systems enable natural language learning and voice input such as Siri or Alexa for the same purpose. This allows CRM to identify and respond to the customer queries, and also discover newer opportunities for the sales team. These AI-driven CRMs should be developed in such a way that they can handle more than one function at the same time.

There is no doubt that AI impacts E-Commerce and is bringing revolutionary changes in the sales data. These changes ensure that the customers will be offered only those products that are appropriate.AI sweeps out the errors and transforms the overall shopping customers for your experience.

Give them a customized touch with chatbots

A lot of technological advances over AI Commerce as drastically improve customers expectations, and now focuses on improvising experiences for the individual customer, and not the mass. There are a number of influencers that need to purchases.

The E-Commerce retailers these days are becoming more sophisticated with the help of artificial intelligence to capture the attention of a potential client. One such method developed is known as ‘conversational commerce’. With the consumer needs rapidly evolving, retailers need to have an amalgamation of visual, vocal, written and predictive capabilities. And using chatbots is just one of the many ways to drive the conversation in today’s era of conversational Commerce.

What is a chatbot?

A chatbot is a computer program developed to have a meaningful conversation with human users over the internet. Chatbots take up important responsibility, especially when it comes to customer handling and marketing. Not only can they automate order processes, but they are also an effective and low-cost way of healthy customer service.

Providing customer service has become a prerequisite for a successful E-Commerce Store. Many a time when the customer is browsing online, they all logged in to either of the social networking platforms such as Facebook or Instagram. Thus, a great opportunity here would be to use the Messenger functionality and provide them with instant customer support.

You can also get a chatbot developed for a shopping cart. Once, this bot gets integrated with one of your shopping carts, it will work with all the stores on the same platform. The more shopping carts your bot supports, the stronger it becomes. It also has a Shopping Cart integration to retrieve information such as shipping terms and product details that your chatbot may use to give accurate answers to the customer.

Implement virtual assistants

Chatbot thinks virtual robot assistance. Concept of chatbot a virtual online assistant. We all need a little help online. That is the reason cloud-based AI software agents were discovered in the first place.

We know the functioning of Siri, Alexa, and Google Now. These voices have successfully introduced the concept of talking to your own electronic gadgets. However, which limited use of these virtual assistants, they are becoming quite boring for the customer.

Thus, this is a wake-up call to add innovative concepts to your virtual voice assistants. This is where the future of AI in E-Commerce resides.

Conclusion

“Artificial intelligence does a job we weren’t necessarily crazy about doing anyway, it does it quietly, and well, and then we take it for granted”.

Although the word ‘artificial; seems like an imposter, Artificial Intelligence lets the businesses have a personalized touch for your customers. Artificial Intelligence thus makes it possible for retailers to understand millions of user interactions every day and thus target offers down to a single customer.

AI in E-Commerce provides the sales team with tremendous information that helps them personalize sales. These AI-driven applications help the sellers to engage the right prospects with the right message at the right time.

Thus, AI will have a tremendous impact on the E-Commerce industry in the coming years, as it has already started to change the way customer shops online. With the success rates of AI-driven applications such as Snapchat, it is evident that such platforms will sooner or later become mandatory for E-Commerce success.

What do you think?

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