In any market, industry, organization or any business are looking for new technologies. Latest technology which is mostly utilizing in all sectors is Artificial intelligence. It totally changes the perception of business people. After digitization of the retail industry, there are a lot of opportunities for the business people across the globe. In olden days it is difficult to promote the products to the customers. But after the introduction of AI, there is no need for humans for promotions & supply chain and it becomes easy for the business owners. It supports taking wise decisions at the right time. Identifying patterns, sourcing data from various channels, Facial recognition &, etc change the e-commerce industry. Buying and selling experience is enhanced for both buyers and sellers after using AI in E-commerce. So each and every business are looking for Artificial intelligence development for their e-commerce business. They all are consulting mobile application development companies for developing e-commerce applications and the cost of app development like Flipkart along with artificial intelligence for their e-commerce store
So let's know about how AI transforming E-commerce Business
1. Automation of storehouses
A vital element of the e-retail industry, warehousing services play an important role in defining the trend of profits for a company. Most popular companies used robots to increase warehouse processes such as parcel packaging, sorting, as well as repainting. Efficiency in the delivery schedule for the products and sorting mechanisms speed is increased due to AI.
While there are simply several ways in which AI has made e-commerce today, the scalability and impact of AI in e-commerce are just foretold to rise. The growth allows identification of best prospects, receiving better customer relations, raising earnings, and connecting the gap between privacy and personalization.
2. Customer service
With the growing role of technology, competition has enhanced dramatically and with the rise in competition, customer service has become a powerful requirement of businesses. According to a survey, on an average 73%, consumers favor brands which avail excellent support. Now speaking about customer support, it has been mentioned that users favor having human interaction for a quality However, using human resource for the same can be costly for businesspeople. With the arrival of AI delivering interactive customer support has become easy and budget-friendly. Conversational chatbots have been used by different companies all across the globe.
3. Personalized experience
Artificial Intelligence is consistently establishing its expertise in giving a personalized experience to users worldwide. AI can assist online retailers to add personalized pages to their website and give personalized advice to their visitors. This not only gives the buying experience interactive but also improves the chances of generating more sales. This is because the recommendations are not just based on what user before visited or liked, but it also incorporates complementary products that they might reasonably like. Nowadays, there are various AI systems that enable NLP and voice input, for example, Siri, Alexa, etc. This provides a CRM system to answer customer queries, solve their problems and even identify new possibilities for the sales team.
4. Visual search
Using AI in e-commerce for personalized product suggestions goes a long way towards supporting bridge the gap between working with a sales associate in a store and scrolling through a website solo. But maybe one of the best things about brick-and-mortar shopping is being able to browse the ways of searching for similar products until something truly excellent pops out.
AI assistance is taken by e-commerce companies like eBay, the guesswork out of online shopping by simplifying the search process. eBay has recently added similar technology but is upping the ante by allowing users to share pictures from social media or websites in order to find similar products for sale on the site. Recent studies show that social media platforms are capable of 3.2 billion daily visual shares, so it stands to reason that customers want to shop what they share. Visual search is still in its beginning stages, but AI technology is driving the charge in shading the lines between online and in-store shopping.
5. Fake reviews
Unfortunately, fake reviews became a problem for online retailers and e-commerce shops. And according to Study 90% of respondents said that positive online reviews impact their buying decisions. Also, 86% said that their buying decisions were affected by negative online reviews. However, as we know there are fake reviews written by competitors, bots, etc. So, how AI can handle this problem? At present, many e-commerce companies utilize artificial intelligence to fight on fake reviews by putting more stress on verified and helpful reviews. For example, Amazon uses AI to battle fake product reviews and inflation of their popular star ratings. Their AI focuses on the influence and weight of verified customer purchase reviews and boosts them. AI also takes into record those reviews that are rated as helpful by other users.