AI in Ecommerce

AI or Artificial Intelligence has reached various domains of activity, improving and innovating processes, facilitating structures, and enhancing results in unexpected manners. By copying human reasoning, but with an unaltered focus and logic, AI is estimated to infiltrate a whopping 85% of customer interactions by 2021.

AI = Personalized UX in eCommerce
Apparently useless information or huge clusters of data can be easily and more efficiently managed with the help of AI. Personalized UX is nothing new in eCommerce regardless from which side you look at it (customer or provider), but AI can now bring about deeper levels of UX personalization. Deeper and more efficient. It is not about time, necessarily.

First of all, let’s take CRM systems for example. What used to take a lot of time, effort, and energy for someone to collect and analyze customer data and draw conclusions to come up with marketing and remarketing strategies, is now done much more effectively by AI, enabling, sustained, and maximized conversions.

LiveChatChatbots…
are now the ideal replacement of the 24/7 human support which implied numerous resources. Built on machine learning algorithms, these chatbots provide a seamless customer communication process, be it written or spoken. Assessment of customers’ or visitors’ questions and replies is done quickly and effectively, so assistance is easily provided and solutions offered. Chatbot = a specific computer program developed to simulate interaction with visitors and perform clearly defined tasks over the Internet or across eCommerce platforms.

Chatbots and sales…
are highly connected, as they enable the purchase process, facilitating the customer’s search and buying journey from the beginning to the end. AI-generated product suggestions will be clearly segmented on category, brand, sale representatives, or organizations, while also taking into account sales trends and cost-effectiveness for the customer.

working-on-a-laptop-14933938350om copyManaging inventory
Keeping inventory up-to-date, stocking shelves, and managing to keep accurate track of every product coming and leaving your store or storage can become an absolute nightmare sometimes. In this respect, Artificial Intelligence can bring a significant contribution to managing online store inventory, analyze performance, trigger cost-effectiveness, and also predict future demands based on customer purchasing behavior. Machine learning will develop patterns that will allow you, as an owner or seller to always have your inventory prepared with the right products or services.

Classifying images
Are you a buyer that relies on the visual? No problem, AI has got this covered as well. Again, based on the machine learning algorithm studying and analyzing patterns, AI is able to simplify the user’s search process, quickly and efficiently suggesting the exact product or service you are looking for, in the form of images. You can even find that specific thing you were looking for a while now, that you didn’t know the name of. Just how it looked. Amazing, right? This app for example will help you find whatever you saw and liked, in just a few seconds. You saw an amazing pair of shoes on someone walking by? Just snap a pic and use the app to find the place where you can get them. Easy, fast, and efficient. Anytime, anywhere.

Conclusions?
The possibilities of using AI in online business are spanning more and more over eCommerce. Everything will be simplified to target and enable an improved UX. This does not mean that Artificial Intelligence will take over.

AI will just be implemented to streamline the purchase and sales process to the advantage of both the customer and the seller. For the former, providing a quicker and more accurate product suggestion, time saving and satisfaction, and for the latter a chance to increase cost-effectiveness, brand visibility, and competitiveness on the market.

Perfectly being able to cater to our potential buyers and customers is the main objective in eCommerce. Personalization is the key to doing that and this is only achievable by sorting out the exact information concerning a specific person. AI has the necessary learning ability to do exactly that.

If you have any questions about our services, please contact us or drop us an email at hello@oak3.agency. We’re here to help! Oak3 is a Solution Partner for Magento and Shopware, so don’t hesitate to get in touch!