AI Integrated eCommerce
Artificial Intelligence, is intelligence demonstrated by machines, unlike the natural intelligence displayed by humans and animals. As eCommerce industry is most blooming industry for brands, it is much needed to be integrated with AI to aid customers with superior experiences and for simplifying the various operations.
Here are some ways AI is revolutionizing the eCommerce landscape, helping eCommerce brands quickly grow and scale:
- Automated customer support/ Chatbots
- Customer personalized suggestions
- Product Image Search
- Optimized inventory
- Customer compartmentalization
- AI driven content generation
- AI driven email marketing
- AI driven supply chain management
- AI driven data analytics
Automated customer support/ Chatbots
eCommerce retailers are increasingly turning towards chatbots or digital assistants to provide 24×7 support to their online shoppers. Built using AI technologies, chatbots are getting more intuitive and are enabling a better customer experience.
Apart from providing good customer support, chatbots are enhancing the impact of AI in eCommerce through capabilities such:
- Natural language processing (or NLP) that can interpret voice-based interactions with consumers.
- Addressing consumer needs through deeper insights.
- Self-learning capabilities that help them improve over time.
- Provide personalized or targeted offers to customers.
Product Image Search
eCommerce company also provides an image search feature to its customers combined with voice search. Customers can even upload pictures from their galleries and the app displays products (or the closest, relevant matches) detected in the image (reverse image search engine). Deep learning and computer vision behind the scenes makes it possible for the algorithms to detect sub-categories of items like fabric, fabric patterns, color, etc.
Customer compartmentalization
Cohort analysis is a subset of behavioral analytics that takes the data from a given data set and rather than looking at all users as one unit, it breaks them into related groups for analysis. These related groups, or cohorts, usually share common characteristics or experiences within a defined time-span. AI/Machine Learning-enabled Cohort analysis helps solving critical questions such as – Wouldn’t you like to categorize customers into different compartments for personalized marketing and outreach campaigns? How about segmenting customers based on Loyalty or Product Type so you can customize your offers?
Customer personalized suggestions
AI-driven personal recommendations are helping eCommerce engage their customers better. Artificial Intelligence in eCommerce, personalized product recommendations for online shoppers are increasing conversion rates by 915% and average order values by 3%
AI in eCommerce is impacting customer choices thanks to its knowledge of previous purchases, searched products, and online browsing habits.
Product recommendations provide multiple benefits for eCommerce retailers including:
- Higher number of returning customers
- Improved customer retention and sales
- A personalized shopping experience to online shoppers
AI driven content generation
AI/Machine Learning-enabled NLG (Natural Language Generation) content generator will offload the burden of creating content for your marketing campaigns.
How would you like personalized email content or social media posts generated automatically for your target audience?
Optimized inventory
Efficient inventory management is all about maintaining the right level of inventory that can fulfil market demand without adding to idle stock. While the conventional form of inventory management was restricted to current stock levels, AI-enabled inventory management is enabling how to maintain stocks based on data related to:
Sales trends over the previous years
Projected or anticipated changes in product demands
Potential supply-related issues that could impact inventory levels
Apart from inventory management, AI is enabling warehouse management with the emergence of automated robots that is being projected as the future of artificial intelligence in eCommerce. Unlike human employees, AI robots can be used to store or retrieve stocks 24×7 along with immediate dispatching of ordered items following an online order.
AI driven email marketing
AI-enabled Email Marketing that sends out marketing emails for products (or services) that are of interest to the recipient. Apart from reading more human than automated, these email marketing tools make an intelligent user analysis based on their response and are more aligned to individual customer needs.
AI driven supply chain management
AI-enabled Supply Chain Automation that enable effective management of supply chains for eCommerce platforms. Other benefits include enabling business decisions related to vendors, delivery schedules, and market needs.
AI driven data analytics
AI-based data analytics tools for the eCommerce sector that provide a host of benefits such as business intelligence, customer profiles, and online sale analysis.
Source: medium.com
