If technology fascinates you, let me share a true story with you.
My sister’s neighbor who lives in the US has named her son Digital (pet name).
Surprised? So was I.
Just like “why this unique name” was bothering me, I delved more, and found this awe-inspiring theory!
Digital is a smart, intelligent boy with high intelligence and analytics abilities that makes him stand apart from his peer group. He can solve problems and offer suggestions and has high intuitive power that most of his predictions come true.
Moreover, the best part is the recommendation capabilities that his mother(and even my sister and people around him) follows, while making major decisions like buying or selling goods (she’s an entrepreneur in the e-commerce sector).
Could you trace AI in the story? Well, that’s the inference.
AI is omnipresent. E-commerce is purely digital where AI plays a dominant role. Let’s explore!
What do Stats Say?
- As per InsightAce Analytic Report, the market value of AI-powered e-commerce solutions is expected to reach a huge 16.8billion USD by 2030.
- As per a recent forecast by Loop Ventures, 75% of US households will have a set of AI-enabled smart speakers by 2025.
Also Read :
Top 5 Reasons Why Your E-Commerce Business Needs a Mobile App
Let’s discuss the top reasons why your e-commerce businesses need a mobile app for successful outcomes.
AI Chatbots/Virtual Assistants
Who do you meet when you go shopping in physical retail in-store? You meet customer service representatives, In-store sales associates, and shopping guides. Using e-commerce technology, you experience a similar practice but in the virtual mode.
During online shopping over e-commerce platforms, you meet virtual shopping assistants. They are digital chatbots, AI-ML-NLP powered virtual assistants who give you valuable recommendations and answer your queries about specific products, brands, prices, offers, discounts, etc.
These AI-conversational chatbots are intelligent chatbots who can understand your needs before you speak, and fetch you product varieties matching your preferences. AI chatbots are intuitive chatbots that analyze your previous shopping data/records, and history of shopping details, and accordingly offer you suggestions, that help you in the decision-making process.
For instance, Amazon is actively using AI-ML chatbots that help shoppers/customers by showing “suggestions for similar products”. This is a significantly powerful use case of AI in e-commerce in the retail sector.
AI Copywriting
Retail brands, online retailing sector,b2b, and b2c brands are using AI in e-commerce for copywriting tasks, creating attractive & result-oriented sales copies. It is a revolutionizing step by the brands and retail companies who are using AI for copywriting ads, generating competitive sales/marketing copies in seconds.
AI writing tools in e-commerce are indeed a massive use case of these powerful digital technologies. There’s no need to hire copywriters or content writers as AI is aptly creating a headline, blog intros, brand descriptions, etc.
Advanced AI language models, and writing tools, can deliver social media content, digital ad copy, and e-commerce copy to the companies adopting AI. This way, e-commerce businesses are leveraging massive AI capability leading to reduced costs, hiring costs, and saving time.
AI Voice Search
How many of you use Alexa for searching your products /information online?“Alexa, tell me today’s price of tomatoes in my neighborhood market”, or, “Alexa, tell me the top 5 e-commerce companies in the US.” And, Alexa delivers you accurate search results!
AI in e-commerce is flourishing via multiple use-cases including voice search capability via smart speakers. Google Home is another example of AI-enabled voice search command. Voice command is the input here while you get the result/output on the screen.
AI-enabled voice-search technology allows e-commerce businesses for a greater volume of keywords and content. As per Loop Ventures’ forecast, 75% of the total households in the US will have a set of smart speakers by the year 2025.
The use of AI in e-commerce facilitates consumers/customers/business fraternity to utilize the voice search capability for online shopping, conducting online research for business, and other avenues.
Sensible AI for Business Output
AI in Retail. AI in E-commerce. AI in Online Shopping. All these terms have one common link – AI. The magnificent AI is everywhere. In the business world across industries, not just retail and e-commerce, AI (Artificial Intelligence) seems to be omnipresent with astounding use-cases and benefits boosting business outcomes.
B2B e-commerce or B2C e-commerce, AI helps online retailers in demand forecasting, optimizing product placements, etc. Stay tuned to know more about AI’s magical effects on your e-commerce business!
Interested to know how Artificial Intelligence can transform your e-commerce business? Contact Us
