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How AI Could Alter the Future of Ecommerce

By: SMITH THOMPSON

With just a few clicks, you can get access to virtually anything on your smart device! You can even get them to do whatever you would like just by talking to them. Indeed, it’s incredible how fast we have been able to get to where we are today with technology. Another such transformational group of technology is Artificial Intelligence, which goes hand-in-hand with other technologies like Machine Learning, Deep Learning, Natural Language Processing, as well as Business Intelligence.

Ecommerce Shopping Behavior Observations

Today, people are able to shop around using digital devices as well as on several digital channels such as sites and mobile applications. Indeed, those who shop around today really like to look for an item with the help of a smartphone browser or an ecommerce application and then save their cart for later. Further on in the day, they’ll go onto another device such as a tablet or a desktop as they offer bigger screens that way they can quickly and safely checkout and pay. Intricate behaviors, a variety of preferences, and different constraints that are a part of modern ecommerce bring those who would like to start an online business or those who already have one, a lot of challenges. On top of that, there have been many disruptive technologies, such as Artificial Intelligence, which have radically changed ecommerce.

How AI Can Change What Ecommerce Will Look Like in the Future

Down below, we will outline how AI will help dramatically change what ecommerce will look like in the future. In fact, Gartner has recently predicted that, “By 2020, customers will manage 85% of their relationships with the enterprise without interacting with a human.” This statistics shows that AI and all of the technologies that go hand in hand with it will not be dealing with people. This report has been backed up by the fact that some of today’s top technological giants are investing in it. For example, Google has bought the AI company, DeepMind, for £400 Million and companies like FB, IBM, as well as Microsoft are starting to pay attention to both AI and ML more and more each year, too.

How successful an ecommerce company depends a lot on how good both the user experience and customer satisfaction is, regardless of the level. As a result, AI and other revolutionary technologies are going after the same thing while offering solutions to the ecommerce industry. Let’s take a look at what AI can bring the ecommerce industry in the upcoming several years.

Improved Ecommerce Search Experiences via AI

The potential ecommerce visitors that initially go onto an application or a website are on there to try to find whatever it is that they are looking for and they typically do so through a search UI. This is very helpful as it lets them know whether the ecommerce store does or doesn’t have the item that they are looking for. As a result, modern and advanced search engines utilize both NLP and AI technologies in order to narrow down the search in the correct contexts and then deliver those results right away. Take, for example, Twiggle, which is an advanced search solution that incorporates AI. Through it, it is able to understand search queries the same way that humans can. In addition, its improved catalog functionality is able to standardize all of the structured information as well as all of the item attributes. It also offers automatic clustering to make it quick and easy to find items.

Clarifai is another example as it incorporates computer vision AI technology. This lets shoppers take photos of items and then apply visual search engines which you can apply to your ecommerce company. It may seem similar to that of Pinterest, but this website is still very limited in comparison.

New data shows that about 20% of Google searches occur through voice inputs. As a result, the future of search engines through AI in ecommerce seems very positive and even includes simultaneous modes of input such as text, voice, and visuals.

Conversational Ecommerce with the help of AI

Earlier, we addressed the various modes of customer input that are available in the digital landscape. On top of that, we are able to add the predictive capabilities of AI into searches that are written, vocal, and even visual, which has helped create the new archetype now known as  Conversations Commerce and Chatbot. Indeed, this conversational type interface that is combined with AI will turn a brand new page for ecommerce. This is because, just as conversation ecommerce items, Chatbot does not only answer the questions of those who visit, but it is able to do so much more. For one, since it can be integrated with the shopping cart solutions of an ecommerce company, it offers a seamless integration with numerous different shopping cart solutions that are available today. It is also able to automate the order process. Indeed, it is able to branch out to many different social media applications such as Facebook that way those who are on a social media application are able to shop around without ever having to leave the page or the application.

As you can see, it offers an inexpensive, but very efficient solution for ecommerce companies that want to cater to every ecommerce visitor while only utilizing a small group of trained employees. In addition, by being able to customize the Chatbot, ecommerce companies are able to influence item details, quantities, and the shipping terms in a way that is very personalized all thanks to AI.

Combining Robotics with AI

Now, although there is Chatbot available for online retailers, what are the brick-and-mortar stores using as they work with all of that inventory and real estate? The answer lies in robots that have AI powers. Lowe has tried out an AI-powered robot that is able to do the same things that the Chatbot can do for ecommerce companies. The only difference is that Lowebot is a large machine that works to provide shoppers with an assistant. Just as sales representatives would do, you would find this machine at the front door of a retail store, greeting everyone as they enter. In addition, it is able to show visitors to wherever it is that they need to go as it can locate exactly where any item is. Therefore, it is able to interact with customers on a deeper level. On top of that, it can assist the employees with inventory management. As a result, just because omnichannel ecommerce may also have a brick-and-mortar store or even a chain of stores, it doesn’t have to miss out on all of the benefits that AI technology has to offer.

There are a lot of ways in which AI can help the ecommerce industry in the future. Keep reading to learn about a few ideas so that you can have a better picture of what you can expect.

  • AI can help out ecommerce by properly dealing with fake reviews as well as successfully fighting counterfeit items.
  • AI is able to bring together what currently isn’t: personalization and privacy.
  • Mixing AI with wearable technology in order to raise ecommerce sales. A few examples include the Apple Watch and the Fitbit.
  • AI is able to provide the chance to make assortment intelligence engines for big ecommerce companies that have several storefronts that way they can better deal with the pricing structure as well as the differences that are currently visible in pricing.
  • NPL, AL, as well as ML technologies let ecommerce firms offer virtual assistants to their shoppers in both B2C and B2B ecommerce.
  • AI can help ecommerce make an automated and smart agent that can match both buyers and sellers which can assist with transactions, providing institutional infrastructure.
  • AI technologies let ecommerce companies make a very efficient sales process which is based on both prediction engines as well as voice assistants.
  • AI can improve recommendation engines.

Conclusion

Hopefully having read this text, you have gotten a deeper understanding into what ecommerce and the technologies that go hand in hand with it will look like with the help of AI based on the current and the rising technology trends, solutions, and experiments happening in the market right now.

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