How Artificial Intelligence is Transforming The Ecommerce Industry

“82% of clients will not give a trademark another opportunity after just one terrible knowledge and over 90% will look to other brands for a more satisfactory experience” — Mary Meeker

Table of Contents:

  • Introduction
  • How is Artificial Intelligence Transforming Ecommerce Industry
  • Four Great AI Applications in Ecommerce
  • AI-Enabled Smart Solution for the Ecommerce Industry
  • Conclusion
  • Retail sales are projected to amount to around $30 trillion by 2023
  • AI-driven business of $8 billion and is expected to reach $49 billion by 2021
  • 80% of customer interaction in the ecommerce industry will be handled by AI

How is Artificial Intelligence Transforming Ecommerce Industry

The aim of artificial intelligence in online shopping is to transform ecommerce traffic by foreseeing purchase patterns based on the products that buyers buy and when they buy them. For example, if online shoppers buy a particular brand of rice each week, the online retailer may send these buyers a personalized offer for the product.

Four Great AI Applications in Ecommerce

Although eCommerce has many advantages over artificial intelligence, here are 4 key AI applications for eCommerce that dominate the industry today.

  • Meeting the needs of consumers with deep insights.
  • Self-learning skills that help them improve over time.
  • Deliver personalized or targeted requests to clients.
  • Reasonable client retention and deals.
  • The personalized shopping experience for online shoppers.
  • Activate a personalized business email campaign.
  • Projected or expected changes in product demand.
  • Potential supply-related issues that may affect inventory levels.

AI-Enabled Smart Solution for the Ecommerce Industry

AI-based technologies are introducing online shoppers to a range of products they didn’t know existed in the market. For example, AI-based technology company SENTIENT TECHNOLOGIES is facilitating real digital consumers to recommend new products to online shoppers based on their shopping patterns and data insights.

  • AI-enabled supply chain automation that enables efficient management of supply chains for Ecommerce platforms.
  • AI-based data analytics tools for e-commerce sectors that host benefits such as business, customer profiles and intelligence.
  • Omnichannel AI solutions are creating a consistent and seamless customer experience online and at brick and mortar retail stores.

Conclusion

In Ecommerce, artificial intelligence plays a key role in driving innovative solutions and customer experience. The use of artificial intelligence in ecommerce is in the areas of personal shopping, product recommendation, inventory management.

Amy is the content manager at PROS — Internet Marketing & Technology Company in San Diego https://www.internetsearchinc.com/