What Artificial Intelligence Can Do for E-Commerce

Immediately we want to debunk all the negative myths that float around the image of AI or the so-called Neural Networks.

 

Humanity is staring at AI with eyes wide open. People prophesy a bright future with no drivers or writers. Often, there are concerns about introducing AI into businesses or even avoiding it altogether, believing that it would be difficult to control. There are also fears that AI could completely replace human functions in any activity.

 

Is this actually true?

 

The future, where robots are working instead of humans, is still a long way off. Artificial Intelligence or Neural Networks is not a mysterious myth, it is just an advanced algorithm that helps to optimize large amounts of data in a network. Today, it is used in many fields, but the most widespread application for AI is in e-commerce. AI helps businesses understand the customer, personalize their approach, and generate demand.

Which eCommerce Applications Are Using AI

Targeting

As it has become clear, AI does not require space shuttle launch budgets. This mechanism is now available not only to large corporations but also to small local businesses. In order to keep a customer coming back to you every day, you need to be subtle with the target you're aiming your ads at. AI is able to collect, process, and categorize all the data you need about your target audience.

Afterward, if the target customer is found, you need to drive one to the deal. The AI is set up to do various things ( like newsletters, memos, ads) to make sure that the customer doesn't quit the site, abandoning a filled cart that he or she never paid for.

Advertising

Hence this point stems from the previous one. Of course, AI will not create the concept of advertising instead of marketers, but it is well within its power to automate the process of running ads online to maximize profits, spending a minimal effort.

Secure shopping

Thanks to AI software development, the depersonalization of transactions has completely eliminated the corrupt element, whatever a person buys. The security that the AI builds up by monitoring all processes and failures in them is another bonus.

Varieties of AI Software for e-commerce

The Voice Assistant

Voice search isn't just fun. It's a great assistant for those with busy hands and for people with any kind of disability. The use of voice assistants is increasing every year.

 

The introduction of voice search to any shopping site will revolutionize the online shopping experience. After all, it won't just speed up the process, but also make it easier for the elderly or those with sight deficiencies, for example.

The Chatbot

Chatbots have instantly become game-changers in the online customer service process, receiving and handling complaints, and any help desk activity. Again, the presence of chatbots allows you to eliminate the human factor from communication. And along with it, bad moods, insults, and unprofessionalism of employees are gone. The customer is satisfied to the fullest. The result is more sales and better customer service.

 

Besides support services, chatbots are also quite capable of increasing sales. For example, they can encourage a new customer and bring back an existing one by sending him reminders and links to promotions and sales.

Pros of AI in eCommerce

An automated and impersonal system becomes a huge plus when a person comes for a "product" but prefers to remain anonymous. For example in addiction treatment or the purchase of intimate toys. The buyer doesn't want to communicate with any salespeople, instead, he just wants to carry out the transaction. Thanks to AI, a brand can reach out to such a customer.

AI eliminates any possibility of human error or inappropriate emotion.

 

We all enjoy coming to the bank, getting a personal manager, and feeling like a VIP customer. But unfortunately, no company has yet been able to hire 1000 unique managers for 1000 VIP clients. AI algorithms are able to calculate the data about the client so that to approach him as personalized as possible without involving a unique service manager.

 

Another indisputable advantage of implementing AI in commerce is its 24/7 availability.

Cons of AI in eCommerce

The downsides of using AI in business include its budget, which will still have to be allocated. However, a business owner has bound to budget for any employee anyway: salary, vacation pay, and sick pay are mandatory conditions of legal hiring.

 

The main disadvantage of implementing AI in e-commerce is ethical because widespread adoption of AI in business will force employers to cut jobs.

Summary

Faster, Higher, Stronger is the Olympic slogan and the pace at which technology advances and directly affects the areas where money is made. Having such an ally as Artificial Intelligence allows business owners to free up space and power to be better than their competitors.

 

Do you think a machine can displace humans from commerce? Is it important for you to communicate while shopping, or is it already an archaic remnant?