How to Leverage Artificial Intelligence for E-commerce
Artificial intelligence may not be a brand new concept, for it has been around for far longer than most of us would care to imagine. However, even though it is a comparatively recent phenomenon, artificial intelligence has made unprecedented strides over the past couple of decades. Of course, given the potential of this technology, it was only a matter of time before it made its way into the industries that serve the world. Among all the sectors where artificial intelligence has impacted, e-commerce appears to be among the top ones to have benefitted from it. However, it is not surprising, especially considering the critical part this industry has come to play in the global market.
E-commerce has also evolved since it first emerged on the scene and has now started to tap into other advanced technologies. And to further its cause and assist with one of its key goals, i.e., serve customers better. Not only that, the benefits of AI have started to manifest in countless other aspects of e-commerce too. E-commerce companies that have already embraced this avant-garde technology have observed substantially better business results, improved ability to offer highly convenient customer experiences, etc. What else can it do for the sector? We are glad you asked because here is a list of some of the other ways AI helps the e-commerce industry.
1. Retargeting: Research has shown that a significant portion of leads generated by a business often falls through the cracks, which is lost business. With AI, companies can prevent that from happening by developing extensive customer profiles, including information such as their interests, browsing history, etc. This data is then used to offer appropriate content, deals, offers, and when they visit the next, thus increasing their chances.
2. Image-based searches: Many times, people come across products they like but may not know its name. AI can help you prevent the loss of this potential sale by allowing your customers to search for products based on images. It can take things a step further and allow your customers to search for products by simply pointing their smartphone’s cameras at something they like or wish to buy.
3. Better recommendations: Recommendations are among the most effective means of conversion. Unfortunately, it can be pretty challenging to get them right — but only when you don’t have AI by your side. AI and machine learning can be leveraged to track and monitor customers to gain an extensive understanding of their requirements and preferences and then offer relevant recommendations.
There is no denying that out of all the industries in the world; e-commerce easily offers some of the highest potential. However, this success rate is highly dependent on how this service is provided to customers. This is why experts now recommend that the development of eCommerce websites must be integrated with modern technologies such as artificial intelligence, machine learning, etc. to fully reap its potential.