12 Apr Artificial intelligence and the e-Commerce market
Today, with the advent of more and more technological advancement, almost all the e-Commerce players are leveraging the power of Artificial Intelligence (AI). This is mainly to enhance their customer experience and revolutionise the way common operations are carried out.
In this blog, we will look at some of the ways in which AI is changing the e-commerce marketplace scenario and helping such firms in their growth and scalability.
Optimization of warehouse operations
Bigger e-commerce players such as Amazon have huge fulfilment centres, spread globally. These firms are looking into millions of orders on a daily basis. Can you imagine the complexity of this process? How does one find where a particular product is? How to fulfil the order in the stipulated time? For this purpose, Amazon uses AI-powered robots that help in grouping, placing and arranging the packages to reduce the time taken to find and pack them. Well, this is just one example from the lot!
More and more businesses are adopting chatbots for their e-commerce stores. They are growing increasingly popular and all customers are falling in love with them! With fully-functional chatbots in place, customers can automatically find answers to their queries through text chats. In all of this, you won’t have to worry a bit! Chatbots are a wonderful product of artificial intelligence which facilitate businesses to offer round-the-clock customer support to their target audience. Another important factor is that they help to collect important data. Through chatbots, you can also track consumer behaviour and fuel your conversion rates.
Image recognition to find products
It is a quite common occurrence for all of us to like something and wanting to purchase it. however, we are not sure what it is called or where exactly to search for it. This is another way AI has been revolutionising the online marketplaces. So, the next time you want a particular item that you have fallen in love with, what to do? Take a picture and upload it and the apps powered for the same, will show you all related products. Having this feature integrated to your e-commerce site will give you the leverage of tapping a wide range of customers.
Customer Relationship Management
The whole world hails artificial intelligence for its predictive nature. Traditional CRM has been completely transformed by artificial intelligence. Gone are the days when one had to collect huge amounts of data and go through them individually to make conclusions and predictions. Today, we have AI and its power, to consume all the data that is coming over to you. And, process them, without any human intervention. AI processes the data and gives out important information to you. this includes who is more likely to purchase from you, what is their area of interest. It also tells you what is it that they will likely purchase and how you can engage with them to encourage conversions. WOW!
Earlier, there used to be a lot of aggressive marketing and re-marketing along with increase ad exposure. With the advent of AI, the new marketing world has been focussing more on quality. As a result, it stresses on the importance of pushing more relevant ads to the right visitors at the correct time. This will help to connect better with your audience, give them what they want and encourage them to buy more from you.
We have all heard of IoT or Internet of Things. Earlier internet meant only a group of computers and laptops connected together. Today, more and more devices and gadgets are coming to be connected to the internet. We have smart cars, smart watches, smart refrigerators and so on! So, if you are also looking to tap the advantage of AI to your e-commerce setup, you should really not delay it further.
From this above discussion, we can see that artificial intelligence is constantly helping e-commerce platforms to enhance the experience for the customers. With better recommendations, advertisements, smart technology and chatbots etc, AI has been changing the game with e-commerce platforms.
If you are also interested in using AI for your benefit, you are at the right place. At EOV, we have a team of experts who will help you in incorporating AI to your e-commerce platform. This will in turn help you give out better services to your customers. You can reach out to us at email@example.com to know how we can help you.