AI and Machine Learning- The Game Changers of Ecommerce Business
It won’t be wrong to say that future can be predicted. 20 years ago, the introduction of www (World Wide Web) has changed the future in an unimaginable way. But the world has not been stopping at any moment and every corner of it is welcoming the technology and the Internet. In this series, the ecommerce business has taken a new pace and flourishing well with the latest technologies. Big data, Artificial Intelligence, Machine Learning, Data science and deep learning are potentially trending in the market and tweaking the ecommerce in a new way.
Let’s know what are Artificial Intelligence and Machine Learning techniques in Brief
In nutshell, the technique that has the caliber to take the decisions on its own without human assistance is Artificial Intelligence while machine learning can be called as an extension of AI where the machines and devices can explore more information based on the data fed in them and even act on the present activities of the user to help them in making their decisions.
This power of making decisions through AI and machine learning have now been used by the ecommerce business to understand their customers and serve them with their mindset only. Thus many ecommerce platforms are now adopting this technique to their business. Amazon Alexa, Google’s Voice Assistant, Apple’s Siri are the best and live examples of Artificial Intelligence.
How AI and Machine Learning are useful for ecommerce sales:
Amazon Alexa is the best example of machine learning, deep learning, Artificial learning and the blend of every latest technique in ecommerce.
Let’s see few more:
- Since there is a cutthroat competition in the market and all the retailers and sellers are working to stand ahead of each other, they use each and every technique to attract customers and retain them. The machine learning helps in knowing the customer’s interest based on their search and buying history. This helps the sellers to serve them with the product they are looking for. When the customers find the exact match for their search they immediately make the confirmed buying decision and proceed to checkout.
- Based on one user’s interest and profile, with the machine learning technique the data can be accumulated that can be used for serving other customers coming in the defined criteria. For example, if a user searches for wearable wristband on the Amazon, there displays a long list of products from different sellers. At the same time, if any user searches for the wearable device, Amazon suggest him the wearable wristband with the message “You may also like” or “People are buying”. This adds more visitors to the shop and if the buyer finds the item fit for him, he will likely make the purchase immediately. Wow...Good Luck of the sellers.
Also read: How would new and upcoming Changes affect ecommerce Enterprises Businesses
- Next utilization of AI and machine learning is implementing ibeacons to the apps of the users. These ibeacons suggest the app user to explore their nearby locations and available stores depending upon their search on their devices and smartphones.
- Chatbots are the perfect example of Artificial Intelligence. The virtual assistant answers the customer’s questions based on the fed data. It intelligently makes the decision to pop-up the answer for the user. This is very helpful in ecommerce business when any customer have any doubt regarding the product or service, he/she can immediately be served. This makes the visitors into potential buyers.
Wrapping it up
On realizing the sweetness of AI and machine learning, the ecommerce websites are implementing the techniques to leverage their shoppers with the exclusive shopping experience. From clothing dealers to jewellery stores, from Netflix to prime Amazon all are working with latest technologies to boost the shopping experience of their customers. Amazon has one grocery store serving with AI technology in Seattle but it is planning to flourish more and for its billions of customers as well as sellers it is going to launch the Amazon Go grocery stores in various other regions.
Take an intelligent move with Artificial Intelligence and boost the sales of your online store.