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AI for eCommerce: Revolution of Online Commerce Industry

Many online retailers started using Artificial Intelligence in the eCommerce industry for providing smoother chatbot services. This technology has become a boon to understanding customer comments, analyzing customers' data from email campaigns, websites, and mobile apps to check their online interactions.<br><br>Read More: https://www.slideshare.net/AshMufareh/ai-for-ecommerce-revolution-of-online-commerce-industry

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AI for eCommerce: Revolution of Online Commerce Industry

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  1. AI for eCommerce: Revolution of Online Commerce Industry

  2. We define Artificial Intelligence as ‘Intelligence that is possessed by machines.’ But from a more comprehensive perspective, we describe this as a simulation of human intelligence so that we can automate tasks that usually require some human IQ level performance. In the upcoming time, Artificial Intelligence appears to be a promising option to perform the functions that we as humans are not capable of understanding and resolve with our brain-power. It is the far-reaching keen-sightedness of AI in the field of eCommerce, which has empowered businesses to multiply their profits by serving the needs of their customers and has the potential to enhance their prospects in the coming years as well.

  3. With continuous advancements in technology, the requirement for employing AI has increased for online shopping sites and the most useful and obvious application seen in the following forms: • Virtual Assistant: The best way to support your customers 24/7 with more accuracy and with more reliable resolutions. • Chatbots: ChatBot is a particular computer program designed to interact with users, which is being advanced with Artificial Intelligence and henceforth would reduce the requirement for providing customer-service. • Predictions: AI empowers sales teams to catalyze their understanding of customers, to determine their actual worth accurately, and to improve forecasting accuracy ultimately.

  4. Visual Search Engines: Anything which is aesthetically pleasing and can trigger spontaneous purchases that the user might not have considered buying otherwise. This plays a notable role in the e-Commerce industry as it provides various other features like automated product tagging. • Automated Pricing: Intelligent negotiation systems are getting unfolded to assure an increased customer base for creating more revenue. This process requires attractive offers presented to new users as well as some personalized discounts for holding customers by analysing their usage and records.

  5. Cybersecurity: Cybersecurity is a problem that can be a cause of concern for online businesses like eCommerce sites or social media sites. Such sites trade with personal data of people and security errors can leave companies in deep trouble. The field of Cybersecurity is, however, dependent on the traditional solutions, but AI has begun to cast its spell. • Personalized Searches: The purpose is to attract customers and persuade them to buy your products and services. However, understanding a consumer’s needs is a challenging task. If you’re able to understand the requirements, preferences, likes, and dislikes of your customers, you can provide them with the products that they will be more interested in purchasing.

  6. Authenticity of reviews: When you witness reviews and comments on blogging websites, how often do you see that the accounts appear fraudulent? Almost half the reviewing accounts are counterfeit and hint on being bot. Artificial intelligence is proficient of detecting such accounts that do not identify as a human and remove them from the stats and records of the reviews. • Recommendations: Integrating an AI-enabled recommendation engine requires large amounts of enterprise data from the client company. The data get used to training the machine learning algorithm to recognize information within product listings and customer information to correlate them and form recommendations.

  7. If there’s one suggestion you should recollect when choosing AI tools, it’s that not all apps are created equal. If you find a suggestion engine that doesn’t work, the problem might not be AI, but that particular application. Try and test various options to see which ones work best before giving up on AI and returning to traditional eCommerce tools. If you’re able to embrace AI-technology, you can get ahead of the circuit and make your customers feel critical instead of getting left behind. In contrast, your competitors embrace this new technology.

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