You must hear weapons only used in Wars & the military. But do you have any ideas about E-commerce weapons? I can bet on this there are millions of people who are not aware of E-commerce business weapons. Now let me introduce you to the Weapon of Ecommerce Business is Artificial Intelligence. As you know you can not win any war without weapons like that you can not create a good e-commerce business without Artificial Intelligence. AI is used in different ways in E-commerce application.
What is AI?
Artificial Intelligence is a process of human intelligence by machines. Which is used in e-commerce development for suggestions, speech recognition, and machine vision.
In E-commerce Where You Can Use AI
E-commerce is a word that never ends, thousands of features are available to develop in e-commerce. Most E-commerce business owners are not aware of where they use AI. To help these people we are here sharing the top 10 smart AI-based things that you must need in your E-commerce platform. ‘
Personalization is one of the best things to do in your E-commerce business platform. One of the most powerful applications is a product recommendation. AI can easily track your searches, cart, and other suggestions for the right product choice and shopping.
With the help of AI and personalization, your revenue can increase and personalized suggestions can provide a better customer experience. 90% of customers purchase products from the same provider if they have a good personalized customer journey.
Forecasting & Analytics
Artificial Intelligence is helping the retail market to get more accurate decisions. Companies use Artificial Intelligence to forecast sales, stocks, and marketing results.
Ai allows improving your target by analyzing where the result-oriented customers come from. What are the platforms to get more customers or what gender, age group is focused on your e-commerce business products?
The technology of AI makes it possible to increase lead generation by discovering clients who are already shopping with your competitors.
Warehouse & Inventory Management
Artificial Intelligence is playing a vital role in inventory management there. E-commerce business is always challenging for the e-commerce business. With the help of AI tools, it is quite easy to manage your inventory like space, delivery time, order management, space, and products in stock. According to Gartner reports , 77 % of e-commerce companies will implement AI for the operations, and 87% of the eCommerce companies will implement smart technologies in their inventory management.
Robotic Instruments in The Warehouse / Physical Stores
AI intelligence-based Robots are helping eCommerce business owners at physical stores. Robots will be used in Physical stores to help people.
Robots like PadBot P3 & LoweBot mainly focused on greeting customers while they enter and answering their simple questions. These robots can direct clients to the products they are looking for and they can also retrieve human works. Robots are capable enough to help & direct people for the products.
They can easily describe pricing and the places where the products are placed in the shop/outlet.
One of the best applications of AI is fraud detection. There are thousands of people who are doing fraud in terms of reviews and ratings. Order and cancellations of order.
Also, it helps to check and verify third-party vendors, how frequently they are posting their products. With the help of AI and ML, you can easily manage all these things.
In eCommerce, business support is compulsory to help people. The chatbot is a computer-generated program that is designed for conversation with humans over the eCommerce platform.
Chatbots are one of the best solutions to reduce your manpower and help customers in a satisfying way. Chatbots are responsible for online business operations and marketing activities.
You must hear about Smart Search and Visual Search. This is also a process of AI intelligence automation.
According to research, 60 Million people in the U.S alone had home speaker systems. Moreover, 62 % of people love to shop through their devices like Alexa, Siri, or Google Assistant shop online. This proves that now people are enjoying smart search options which are voice and visual searches.
AI brings eCommerce closer to the technology, with the help of Virtual Assistance people can get real experience to the people with the help of Virtual Assistants.
Innovations in AI are revolutionizing eCommerce, virtual assistants will be the future of eCommerce shopping.
With the help of AI implementation in eCommerce platforms, pricing can be managed easily. AI in eCommerce can help in financial intelligence from their competitors and suggest better pricing for your products so you can generate more revenue. These tools ensure you respond in the market with pricing very quickly.
According to research by conversica.com, 33% of leads are not followed by the sales team or department . Just because of this problem companies face huge losses in their business. The eCommerce companies have an unusable database that is not useful for the eCommerce platform. But when data comes to integration with AI, it solves the problem of finding potential customers for your business.
Let us suppose there is a person who has been searching for an iPod for the last 2 months over a mobile platform. If you are an iPod seller then definitely AI will suggest iPod in his advertising history. This is the main process of Retargeting your potential customers with the help of AI.
AI is one of the fastest-growing technologies nowadays. E-Commerce is already at the top so you need to work in smart ways. uses of AI-based tools and implementation will be really very worthwhile for your online eCommerce business. There are thousands of e-commerce businesses that are already worthful and we can assure you that it will change your entire business process. You do not need to worry about anything, you just need to wait and watch. You can find an e-commerce development company and they can easily implement AI tools in your business.