Four Ways AI is Influencing the E-commerce Industry

AI influencing eCommerce
Published By - Kelsey Taylor

AI is practically in every possible area by now including e-commerce. AI is influencing the e-commerce industry and needs no formal introduction.

There are so many articles about how Artificial Intelligence has stretched its legs to almost every possible road and is being continuously experimented upon.

Today, we will be discussing its hold over the realm of e-commerce and the benefits of artificial intelligence in e-commerce.

AI has been helping the e-commerce section for quite a long time now and is vigorously enhancing its functions for better accuracy and results.

The use of artificial intelligence in the e-commerce industry are several with some of the primary applications being:

  • Chatbots and Virtual assistance
  • Omnipresent customization
  • Email Automation
  • AI-driven predictive analytics models & lead scoring

Chatbots and Virtual assistance

Whether it is an artificial intelligence e-commerce platform, or AI healthcare platform, or the Internet of Things (IoT), you swap from left to right, and there are these Chatbots waiting for your queries.

Also, this is high time for virtual agents and virtual assistants in the marketing zone. More and more human touch is being given to the VAs more in-depth studies on them to enable a natural conversation style.

What’s more, is that these AIs can learn new things and input that new set of data even while processing.

For example, the software company Autodesk Inc. made the first attempt of using Chatbots in the arena of customer service.

An elementary robotic character to get customers with the software’s activation codes. The chatbot was eventually dropped-out as it didn’t have any human persona in it.

Finally, in 2017 Autodesk created an Artificial Intelligence virtual assistant: “Ava”.

Moreover, for the second time this year, a Google announcement is rocking the world of customer contact center, with the launch of Contact Center AI.

Omnipresent customization and personalization

Businesses are creating a customer-centric search in their e-commerce. Also, not just for marketing but for selling purposes too.

Consumers, including us, often abandon carts while experiencing e-commerce mostly because the product search-results are irrelevant.

To solve this problem, e-commerce businesses like Twiggle, Pinterest and many, work on natural language processing to filter, contextualise and conclusively enhance search results for online customers.

While using commercial websites like Nykaa, Myntra, Amazon we all can feel the vigorous upgradations now and then for better personalisation and recommendations for each.

Now, with the advancement in AI and machine learning, getting a more in-depth knowledge of user’s behavior is much smoother.

AI Automation tools

Automation tools are without a doubt a significant part of marketing. Control multiple social media platforms and business networks, with AI engine steadily monitoring all the channels and devices for prevailing universal user view.

Marketing Automation significantly helps any e-store owner, providing them with proper analytics, social marketing, and advanced management.

AI automation is also helpful for trend forecasting and behaviour analysis. That too for multiple individuals. With the implementation of Artificial Intelligence automation, email marketing can generate better results.

Lead management and campaigns have more target accuracy, both demographically and geographically.

AI-driven predictive analytics models & lead scoring

One of the most impressive features of AI is its nature of prediction. You can work on your Customer Relationship Management (CRM) and also study the possibilities of upcoming trends.

Moreover, examine each of your consumer’s behaviour even categorically.

AI-driven predictive analytic models generate better lead scoring which eventually improves marketing and sales.

Artificial Intelligence automates better predictive analytics and prescriptive analysis by ingesting, structured & unstructured data (images, text, videos, documents and others).

Till this date, there is no industry left untouched by AI. If your business is on the internet, you use AI for help. If you own an app, you have AI in its UI.

Furthermore, according to a recent Gartner survey, 85% of relationships between a business and a client will take place without any human interaction.

The way AI is influencing the e-commerce industry leads both to become more and more sophisticated with every new morning.

Conclusion:

According to Gartner, the way AI would influence the e-commerce industry is by 2020 more than 80 % of customer interaction will be taken care of by AI. It also states that by 2021 the market is expected to reach $49 billion.


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