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AI’s usefulness are plenty; many online store owners and e-tailers are integrating it into their e-commerce to enhance the shopping experience and increase their sales.
Artificial intelligence has revolutionized everything it has touched, and the e-commerce industry is no different. AI has completely changed how we shop on the internet, from providing shoppers with personalized recommendations according to their interests and helping them make refined decisions to delivering products faster than ever, AI has revolutionized e-commerce.
Because of AI’s usefulness, many online store owners and e-tailers are integrating it into their e-commerce to enhance the shopping experience and increase their sales. For this reason, we will be having a look at various ways in which AI is being used in the e-commerce industry:
Chatbots are one of the most widely used applications of AI and have made it possible to provide quality customer support 24/7. Almost every industry out there has employed chatbots to provide automated customer support to customers.
Even for minimalistic and useful programs like the Scrabble Word Finder, chatbots have been employed to provide automated customer support. In the e-commerce industry, the introduction of chatbots has made it possible for store owners to provide automated assistance to their customers and report any possible issues that customers are facing with their orders.
Chatbots are powered by AI algorithms and these chatbots provide real-time 24-hour customer service regarding commonly faced issues. Many companies are now also using chatbots to automate order processing and payments. Chatbots are highly useful and they can be used for multiple purposes, you just need to program them the way you intend to use them.
AI can be used to provide a customized experience to customers. It is not difficult for AI to track the activity of a user and display the products that he/she browses the most.
For instance, if a user lhas been visiting an e-commerce store for a while looking for brown shoes but never ordered a pair then AI-powered technology can help make adjustments so that the next time the user returns to the website, he sees more of that product and displays them prominently on the website.
This provides a personalized shopping experience to users, showing products that they are interested in, and as the products in which users are interested are shown, again and again, it compels them to buy those products.
Apart from e-commerce, AI is also being used by gaming websites to show various useful tools like Word Unscrambler, Anagram Solver, etc to users based on their gaming interests.
AI is also helping retailers by allowing them to send automated emails. Sending out personalized emails to your customers is very important to remind them about your business and keep them engaged. Artificial intelligence is helping retailers to improve their marketing campaigns in a way never done before.
It allows them to send out personalized content to users at different intervals based on their interests in certain products or offers.
AI can be integrated with marketing automation software and both of these useful tools can then be used to build a digital profile of users based on their browsing history, search history, and purchase history. This allows retailers and store owners to send more personalized emails to individuals based on their needs and interests.
Another very helpful way in which AI is being widespread in the e-commerce industry is in the identification of fraudulent transactions. Any business or company would want to ensure that its company is protected against fraudulent activity but protecting your business against fraud isn’t a feat to achieve. Here AI is helping businesses to identify fraudulent transactions.
For the customer service team of any e-commerce store, it can take hours to verify each transaction manually and ensure that it is not a fraud and no one has this amount of time. Here AI is being used to detect patterns in transactions and purchases that might be indicative of fraud. Of course, AI cannot catch every fraudulent activity or transaction but it can surely minimize them.
Without AI, it could take multiple employees to spend hours recognizing fraudulent activity. With AI, businesses can ensure that their employees are focusing and giving coverage elsewhere where AI cannot be employed.
Artificial Intelligence is also playing a diligent role in inventory management. With the help of AI, e-commerce stores can accurately predict the demands of customers in the future.
AI analyzes data from multiple sources and the past and based on that data, it comes with accurate data that businesses can use to make informed business decisions regarding their inventory and supply chain.
AI helps e-commerce stores in predicting how much stock they should buy ahead or manufacture so that when the time comes, they are ready to handle the increased demands of customers.
AI uses historical data, as well as data from several other sources, and then analyzes that data in various ways that humans couldn’t. This is used by e-commerce stores and retailers all over the world to prepare their inventory beforehand to avoid running out of stock and maximize their revenue.
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