How Artificial Intelligence Is Reshaping The E-Commerce Industry

How Artificial Intelligence Is Reshaping The E-Commerce Industry

Hey, don’t get me wrong, but I am still going to be predictable. My childhood was spent watching American comedy science fiction sitcom with opening credits, ‘She’s a small wonder!’ About two decades later I can be found watching South Korean Series ‘I am not a Robot’. AI is the inspiration behind these series. This concept of making machines with intelligence similar to humans captured the hearts of all. Hence, Science fiction series, movies, and books have frequently been including AI. So what exactly is this AI which fascinates many? Let’s take a look.

Artificial Intelligence is a branch of Computer Science. This is the science of developing machines that are Intelligent and are able do tasks which normally require human intelligence to be completed. In short, AI is an intelligent machine that can plan, reason, solve problems, etc. just like a human – Actually on a positive side, it’s more error free compared to humans. And the best part, AI keeps on improving itself. Come to think of it, it’s really an intelligent Technology!

In the past decade, AI has gained much importance and is being incorporated in many aspects of life. The Impact of AI has rocked the business world too. Smart Business are opting for smarter solutions which AI is able to provide. The Commerce went electronic with the emergence of electronic-commerce and now it is becoming more intelligent in its working and transactions thank to Artificial Intelligence. Mentioned below are a few ways in which AI is reshaping E-Commerce Industry.

Safety first: AI is also efficient in maintaining the security of E-commerce Software. It is able recognize the threats from a hacker, and thus detect any malware system before they create more damage to the website by creating warning alerts. Also, AI will continuously be scanning and analyzing the system, so as to monitor the various activities and pointing out any doubted malpractices. AI can also detect any flaws in the present security, help with finding bugs, malware, viruses, and then suggest an appropriate response to fix it.

Liked what you saw? Buy it: If you find that an item which is to your liking (then may it be from an online picture or something you saw anywhere); just get a picture of it. E-commerce websites can then recognize the image – its brand, colour, fabric, size, shape, etc. with the help of AI; and then offer complimentary or matching items. Thus, AI enables e-commerce sites to provide the customers what their heart desires even if they don’t know what that item is.

Give your order hands-free: Since last few years Voice search is slowly infiltrating e-commerce industry. Thus, instead of typing, customers can voice out the items they want to search for. Whenever the visitor of the e-commerce website speaks, the Voice Search listens, and figures out what the voice meant, and from that, due to AI powered Natural Language Processing (NLP), it interprets what the website user is actually searching for. Use of AI enables due to which this interpretation is possible. 

Chat with Chatbots: Chatbots are AI system which is a medium utilized by the websites/service provider to interact with the consumer through text and voice in real-time. They help the e-commerce websites by providing response to all the customer queries within very less time. Also, the chatbots help buyers in the whole buying process – providing answers to their questions, suggesting a prefect product for their needs, checking the availability of that product, showing them the comparisons of multiple products, and even helping them in making the final payment. Thus, Chatbots are efficient and can thus reduce the number of customer service persons needed to be hired. And on the plus side, it works 24X7.

Intelligent Inventory Execution: AI takes a stock of the sales trends of past years, analyzes it, considers the changes in demands, and allows for maintaining the right inventory level. Thus, AI can ensure that the demand of consumers is fulfilled and there is no idle stock remaining. It can also be used to retrieve the products which are ordered by the company, and deal with the product returning by the customer. The inventory is excellently maintained and other than that AI robots can be utilized for retrieving, dispatching, and storing the inventory.

Managing Marketing Budget: AI makes proper use of the marketing budget of the e-commerce company and creates for them solutions for marketing on the social platforms like Google, Facebook, etc. It is ultimately going to reduce the CPC incurred by the company.

Marketing with a personal touch: AI has access to all the data related to the consumer, what are their shopping preferences and patterns, and based on them, AI is able to provide the customers an experience of shopping which is much personalized. AI defers from mass and homogenized marketing, and instead gives product recommendations to the customers based the inferences it makes from their personal data.

AI software is playing a dynamic part in reshaping the e-commerce industry. Today a number of Software Service providers including Techasoft are all ready to equip the e-commerce business with all possible technological assistance and improvement. So, let’s just be ready to evolve with the evolving times and embrace the Intelligent Artificial Intelligence.

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