Artificial intelligence in eCommerce (1)

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Artificial Intelligence in eCommerce
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What is Artificial Intelligence?

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Advantages of Artificial Intelligence in
eCommerce
Stronger Search Algorithm

• If you constantly search for shoes and sneakers,
  then again if you go to the search bar and type
  just s-n, then AI present in your eCommerce will
  predict that you are looking for sneakers.
• So, this is how the user will quickly find
  whatever he/she is searching for and the user
  experience will also be improved.

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2. Product Recommendation

• Artificial Intelligence in eCommerce also
  benefits to get product recommendations.
• A stronger Artificial Intelligence will establish
  a stronger product recommendation algorithm.
• Artificial Intelligence will automatically
  detect the relevant products of the product you
  just bought.
• So, dont get surprised if you have recently
  purchased a smartphone and you are getting phone
  covers in your recommended products list.

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3. Better Inventory Management

• Inventory management is a monotonous task when it
  has to be done manually. But, artificial
  intelligence is designed to do the most tedious
  tasks.
• Artificial Intelligence in eCommerce will do
  everything for you while you are making plans to
  expand your eCommerce store reach.
• So, you just have to plan the strategy while AI
  is taking care of your eCommerce store.

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4. Better Sales

• With the help of Artificial intelligence in
  eCommerce, sales strategy also developed, and the
  sellers can now plan tactics that work.
• AI lets you target the audience, based on
  audience gender, location, interests, etc. So,
  you dont need to spend advertising money on an
  irrelevant audience.
• If you are selling womens products, then your
  advertising budget wont be used in showing the
  ad to man users and exhaust your advertising
  budget improperly.

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5. Better Communication with Customers

• Communication is the key! The key to more sales
  is communication. Communication with customers.
  You need to engage with customers to know about
  their needs and thoughts.
• Artificial Intelligence and Natural Language
  Processing have bettered understanding customers
  in a better way.
• If a customer leaves a message inquiring about
  the shipping time, then the chatbot should be
  capable to answer that question accurately and
  give the customer a great experience.

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6. Better After Sales Service

• If a customer has any questions on the delivered
  items or wants to return it or wants any type of
  after-sales service from you, then again,
  Artificial Intelligence can handle it very well.
• This is how Artificial Intelligence can implement
  a better after-sales service and provide a better
  experience to the customers and make them review
  your business better.

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Artificial Intelligence in Retail Stores

• Amazon Go Store

• Walmart

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Conclusion

• According to a study conducted in August 2018 by
  Capgemini, AI could save 340 billion annually by
  the year 2022.
• They also consider that 80 of retail would be
  from allowing AI in their retail.
• So, to conclude this, we can say that by enabling
  AI in retail or eCommerce, we can get great
  output and increase the business revenue
  manifolds.
• And according to an article on Forbes, 53 of
  marketers are willing to adopt AI in their
  business in the next couple of years.

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