E-commerce and AI: what you need to know
One of the hottest topics in tech and in business is artificial intelligence (more accurately “machine learning” or AI). Many business owners are currently looking to this technology for its potential to improve customer communications, and it is predicted that by the year 2020, 85 percent of all interactions will originate from machine learning “bots.” If you’re an e-commerce business owner who’s wondering how you can benefit from these advancements, you’re in luck. We’ve compiled a few of the most important reasons to adopt machine learning services right here in this article.
Predicting what your customers want
There are numerous ways for AI to be used in e-commerce to the benefit of both businesses and the consumer. Machine learning algorithms can, for example, identify customer habits and their interests based on search histories (both inside and outside of a specific business’s site).
With the proper configuration, this service can analyze shopping behaviors to customize and tailor the online shopping experience to that specific user. Product recommendations, pairings, and promotions can target individuals, improving the customer experience, and in turn, your bottom line.
“I’m looking for something a little more…”
Machine learning is also great for cataloging products. In the past, businesses would send out dense and cumbersome product catalogs that made it difficult for customers to find what they were looking for. In the near future, customers will be able to upload photographs of an article of clothing that’s similar to what they want to purchase or pair with another. Through AI, a website will be able to analyze the photographs and create a catalog of suggestions based on data from the image for a true machine-learning solution.
Customers can still talk to a “representative”
With advances in “plain language” systems, more and more users will rely on e-commerce over face-to-face sales interactions. Machine learning is getting better at interpreting conversations, and answering with natural-sounding responses.
If the choice is either searching “Blue summer dress,” or “I’m looking for something relaxed and in a warm blue color,” which do you think would make customers’ shopping experience better?
By replicating the in-person shopping experience over the internet, businesses can shift away from brick and mortar overheads to an e-commerce-centered structure. Significant savings can be realized in the areas of capital expenditures and human resources, all while reducing the opportunity for costly human error as well.
Given all of these factors, you can see how AI could improve your e-commerce business’s potential. Believe it or not, if you’re ready to begin integrating more “machine learning” into your business model, we already have the means to make that happen. Contact us as soon as you’re ready to transform your e-commerce business into a money-making powerhouse!