Artificial intelligence (AI) is a buzzword that inspires business owners yet also instils in them a sense of dread. More accurately described as “machine learning,” this exciting innovation is swiftly becoming an integral part of doing business. In fact, industry experts are predicting that by 2020, 85 percent of the interactions between corporate customer service departments and customers will involve AI. If you’re an e-commerce business owner, you’re in a prime spot to get ahead of the curve early.
Predicting what your customers want
There are numerous ways for AI to be used in e-commerce to the benefit of both businesses and the consumer. Machine learning algorithms can, for example, identify customer habits and their interests based on search histories (both inside and outside of a specific business’s site).
With the proper configuration, this service can analyse shopping behaviours to customise and tailor the online shopping experience to that specific user. Product recommendations, pairings, and promotions can target individuals, improving the customer experience, and in turn, your bottom line.
“I’m looking for something a little more…”
Machine learning is also great for cataloguing products. In the past, businesses would send out dense and cumbersome product catalogues that made it difficult for customers to find what they were looking for. In the near future, customers will be able to upload photographs of an article of clothing that’s similar to what they want to purchase or pair with another. Through AI, a website will be able to analyse the photographs and create a catalogue of suggestions based on data from the image for a true machine-learning solution.
Customers can still talk to a “representative”
With advances in “plain language” systems, more and more users will rely on e-commerce over face-to-face sales interactions. Machine learning is getting better at interpreting conversations, and answering with natural-sounding responses.
If the choice is either searching “Blue summer dress,” or “I’m looking for something relaxed and in a warm blue color,” which do you think would make customers’ shopping experience better?
By replicating the in-person shopping experience over the internet, businesses can shift away from brick and mortar overheads to an e-commerce-centred structure. Significant savings can be realised in the areas of capital expenditures and human resources, all while reducing the opportunity for costly human error as well.
AI augments e-commerce businesses
Given all of these factors, you can see how AI could improve your e-commerce business’s potential. Believe it or not, if you’re ready to begin integrating more “machine learning” into your business model, we already have the means to make that happen. Contact Multi IT & Telephony Solutions for your own e-commerce website. We can also transform your e-commerce business into a money-making powerhouse!