AI E-Commerce: Mobile commerce, accounting for $161 billion at the end of 2016, is set to jump to $319 billion by 2020. This means the future of e-commerce is secure. It is a way of life which is going to stay for quite sometime. It can also be seen that it is one of the most rapidly growing businesses. As the business opportunities grow, it is but natural that the competition increases in the industry. Businesses look for the best ways to be on top on the game by bringing about the best in everything, be it inventory control, user experience, security and so on. The biggest hurdle that one can see while trying to optimize their applications would be to manage the everyday operations like data collection, data entry, etc which are repetitive and boring for a human. This is something which can be made easy with the use of AI.
A few ways this can actually be executed are discussed in this article.
1. Recommendation and Personalization – AI E-Commerce
In the world of digitization everyone wants to be noted and popular. When a brand gives personalized experience to an user, it makes them feel special. This improves the chances of the client shopping more and re-visiting the app every now and then. Machine learning can easily personalize apps for users by collecting relevant data when the user uses the app for the first time.
2. Inventory management
Inventory is the biggest devil for a business. The more the inventory the lesser the gains for a company. Recording the inflow and outflow of the goods and services is one of the biggest challenges for an organization. By using data mining, predictive analytics, etc., inventory can be easily controlled by businesses no matter how big or small it is.
3. Finding the right thing at the least possible time
Nobody wants to wait for you to get your act together in this world today. Everybody is busy in their own world. In such a situation, it is very important to ensure that a client can easily find the product that they are looking for among the many goods that you have. This can be done by using some of the features of AI such as Search ranking, Query expansion and image based search.
4. Maintaining Customer relationship – AI E-Commerce
Customer is king for any business to survive. This makes the businesses to ensure that clients once into the App, never go empty handed or without a satisfactory expansion. For a good customer relationship, it is necessary for the businesses to remember the details of the clients which is an mammoth task for humans. This can be easily done with the help of machine learning and also a personalized experience can be provided by integrating voice searches and voice navigation systems in the apps.
5. Ensuring spam free-website
Identifying the unnecessary ads while browsing is a big selling point for almost all businesses. With the help of AI one can detect fraudulent transactions and help the clients be safe. This also reduces losses to the companies.
Artificial Intelligence, as seen in the above discussion has a lot of potential and when put to the right use can help a business scale new heights that could have never be imagined a decade ago. Artificial Intelligence thus augment the performance of e-commerce applications.