document.write(''); How to use artificial intelligence in e-commerce - Simo Baha

How to use artificial intelligence in e-commerce

It’s interesting how certain brands and retailers consistently dominate the digital shelf. It’s not a scare tactic. Those who embrace digital transformation by embracing now-commonplace tools such as artificial intelligence (AI) and Augmented Reality (AR) are at the helm of this takeover.

AI trading is not something to be afraid of, but a powerful methodology that you can use to your advantage in various ways.

Using artificial intelligence in e-commerce may not yet be second nature to your organization, or maybe you have a few tools in place but you’re not using them to their full potential.

Here are six of the best AI applications in e-commerce to help you inject a little more “future now” into your tech stack.

Artificial intelligence makes sense in e-commerce

Despite some beliefs, AI works for you, not the other way around. Powerful applications of AI for e-commerce are emerging every day, all with the goal of saving organizations time, reducing errors, and increasing operational efficiency. Below are some of the main ways in which artificial intelligence can be used in e-commerce.

1. Power Product Recommendations and Personalization With AI

When was the last time you met someone new and immediately forgot their name? While you can’t apply AI to your nascent social circle (yet), it can be applied to a trend that continues to be in demand among today’s consumers: personalization.

71% of customers want personalized shopping experiences, and 76% are disappointed when they don’t get them. McKinsey & Company.

However, even when you are able to collect tons of data and become insightful into customer preferences, it can be difficult to apply it all.

AI commerce capabilities can help you recommend similar or complementary products based on customers’ previous browsing or purchase history and send those offers as push notifications or emails.

For example, if someone has recently purchased a carry-on bag, they may want a matching packing cube or toiletries. But perhaps they wouldn’t buy an accessory without a recommendation (and maybe a discount to sweeten the deal). It’s a win-win: more organized luggage for them, higher order value for you.

2. Support (or create) a Customer Service Team

Whether routine day-to-day customer service inquiries are making your growing business’ customer service team ineffective, or you simply need extra support during busy times like the holidays, e-commerce chatbots could be your new best friends.

These virtual assistants don’t have to take over your customer service department entirely, and research shows that In some parts of the world, consumers still like to connect with real people. However, in other industries, human-less customer service is sometimes strongly preferred.

By partnering with AI, you can always be ready to welcome a new (or returning) customer to your site and offer an initial point of contact. AI can also help you sort through and save any queries or issues a buyer might have (and in some cases even resolve them) before deferring to a representative on your team.

The ticketing or resolution process will of course vary by solution, but your team member can use the information gathered by the virtual assistant and jump right into solving the problem in just a few steps. Duplicate queries or errors may also be flagged for easier resolution.

Plus, having 24/7 field service available for field inquiries gives you peace of mind that your customers are at least being acknowledged, even when your team members are enjoying a much-needed vacation or busy with other initiatives.

3. Help detect fraud in e-commerce with artificial intelligence

Are you sweating at the thought of checking traffic light images? Yes, this is what fraud feels like when you implement additional AI protection.

AI fraud detection works by analyzing patterns in transaction data and flagging anything that looks fishy. It can give both you and your customers extra assurance that their information is protected and that you take security seriously.

These protections also allow you to collect more data and preferences from your consumers, which can lead to better personalization, recommendations, and more.

4. Manage inventory more efficiently

It is not surprising that foods and out-of-stock products can sink your brand. But tracking inventory can be a seemingly impossible task, especially with the rise of multi-channel commerce and the added complexities of buy-online, pick-up-in-store (BOPIS).

An AI-powered inventory management solution can also enable you to dominate the channels you’re currently in and reach new ones by taking the guesswork out of what and how much inventory is available.

Additionally, AI-powered inventory management tools can help you analyze sales data, predict future demand, and suggest future order points.

5. Optimize pricing to delight consumers

In the face of inflation and other economic uncertainty, you can be your customers’ ally by keeping prices low thanks to AI-powered insights.

In e-commerce, artificial intelligence can optimize prices by helping to analyze consumer behavior, check competitor prices, and track market trends.

You can also go the extra mile with personalized offers and discounts for your customers, powered by data from past purchases or browsing history.

6. Create product content at scale

Thanks to the legwork AI bots and writing assistants (metaphorical legs, of course), creating massive amounts of quality output at the speed and scale you need can be a lot less difficult.

According to Salsify “2023 Consumer ResearchIn the report, 55% of surveyed global shoppers say that “bad” product content prevents them from shopping online. “Bad” in this context means missing or incomplete product information, poor quality product images, or other inconsistencies and errors.

You can use AI to provide a consistent foundation for your digital shelf presence wherever your products are online, thanks to the possibilities of some powerful (award-winning) versions which enable data integration from product information management (PIM) systems and mass content creation.

In some cases, the best AI bot creative copycats may lack some authenticity or originality, but that’s where the rest of your team can tag along.

With AI writing assistants, you can spend more time seasoning content for different seasons or crafting complex messaging and thought leadership that fits your evolving organization and responds to trends.

Dominate the digital shelf in e-commerce with artificial intelligence

For brands and retailers looking to dominate the digital shelf, it’s important to be open-minded to embracing new trends and partnerships, especially when they’re the same.

AI won’t take over the digital shelf on its own. brands and retailers must thoughtfully use this intuitive technology to their advantage, ultimately to the delight of consumers.

Source link