Do you think that e-commerce has come of age? Just think about it – you can browse thousands of dresses online to find that perfect one in just a matter of clicks. Isn’t it fascinating? Rather than visiting physical stores, modern-day consumers prefer going online where they get access to myriads of products or services, making the shopping experience faster and better.
According to Statista, it is expected to have over 2.14 billion digital buyers in the year 2021, which is a huge number for online businesses. If you are an entrepreneur, it is a great time to leverage your e-commerce brand by implementing some innovative solutions and technologies. Well, here’s a catch!
Many tech-enthusiasts believe that Artificial Intelligence is ground-breaking technology that can drastically change the e-commerce sphere. And for the most part, it has already started to disrupt online shopping and the customer experience in many notable ways.
Even the days of aggressive re-marketing are long gone now. The new quality-focused marketing age has begun, which directs relevant ads to the relevant customer at the right moment and at the right place. All thanks to Artificial Intelligence.
Now, let’s get straight to the point with the help of a creative digital agency in Melbourne and discuss – what is the role of AI in e-commerce? How it is disrupting the digital sphere of shopping?
Online shopping in the era of Artificial Intelligence
In this digital world, e-commerce has become quintessential for an online business to succeed and flourish. And with the forefront of innovative technologies like AI, it is slowly but firmly evolving with time. At present, the technology is being coupled with the Internet of Things, Big Data Analytics and Machine Learning for elevating the customer experience and getting more insights into the changing customer behavior. Almost every e-commerce giant is incorporating AI in some ways to get the maximum bang for its investments.
The widespread use of AI gave the world many out-of-the-box solutions that were surreal at some stage. But today, AI is no more a science-fiction; it is very real and practical. Just look at Google, Netflix, and Amazon; they all rely on AI to deliver enhanced customer services and experiences. By using AI to collect and analyze customer data, these giants offer some amazing solutions, such as product searches, customer services, etc.
5 profound ways AI is disrupting online shopping
The e-commerce world can’t overstate the impact of AI. It has changed the way online products are manufactured, marketed, and distributed today. Listed below are some of the many examples from the present world that depict how AI is changing the e-commerce sphere.
1. AI-powered chatbots for better customer services
Today, AI-enabled chatbots are everywhere – be it a mobile app or website. They are responsible for effortlessly improving customer engagement by building enhanced communication programs that can answer FAQs, recommend products and collect valuable data from customers.
A study predicts that by 2025, around 95% of customer interactions will be managed with chatbots. It’s a positive sign for online businesses. The accuracy of a chatbot to handle customers can’t be matched by human intelligence. This is one of the reasons why e-commerce websites are using them as a silver bullet to ably assist their customers 24×7 and improve their online shopping experience.
2. AI-enabled solutions for supply chain management
Online businesses lose money every year due to inefficient inventory management. But there is a solution. By managing logistics with AI technology, you can easily predict demands for products and can also manage the supply chain, which is impossible to mimic by a human. There are some successful retailers who are already using AI technology to eliminate deep-rooted inefficiencies by driving enterprise-wide visibility of their supply chains. In other words, you can also accurately manage the aspects of supply chain and logistics, such as inventory, staffing, distribution, and delivery, in real-time by using AI.
3. Smart product searches with AI
AI in e-commerce can also simplify product discovery. How? Well, just think about it – you can take a picture of a product in the real world and then use it to search for a product or retailer online. Such creative solutions classify products from different retailers and then categorize them for customers within a few seconds. This makes product searches and comparisons faster, better, and easier than ever. At present, Pinterest is its biggest example where this visual bookmarking site uses ‘Pinterest Lens’ to perform visual searches based on products or items spotted in the everyday world.
4. Optimizing Internet of Things with AI
Heard about IoT (Internet of Things)? It is something more than just a bunch of electronic devices connected together. Same as your smartphone, which you might be using right now, there are so many devices that can be connected to make life easier. On top of that, AI technology is a boon for IoT. For instance, Samsung’s Family Hub refrigerator uses AI and cameras to integrate this device into a smart appliance.
5. Providing personalized shopping experience with AI
AI offers a personalized shopping experience to online shoppers. With its widely appreciated biometrics and face recognition, you can successfully identify those customers who are revisiting your store and can also collect their likes and other shopping details. Subsequently, this will help you recommend the right products and services to your shoppers. According to web designers in Melbourne, companies that project personalized shopping experiences by integrating advanced technologies like AI gets increased revenue in return.
The bottom line: The future of e-commerce and AI is bright together
You see, Artificial Intelligence has been disrupting almost every aspect of online shopping and is going to replace intuition with intelligence in the future. Its benefits are more evident than ever right now. As business owner, all you have to do is stay pragmatic while implementing the technology in your e-commerce website. Also, you have to understand the capital-intensive side of AI technology in the long term. In a nutshell, it will be a win-win situation for your brand.
Author Bio
Jessica Richards – As an inbound marketing manager at Digital Pieces, Jessica aims to communicate the importance of inbound marketing through helpful writing pieces. She also enjoys working closely with clients to develop SEO marketing strategies that are authentic and successful for their businesses.