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Artificial Intelligence: 6 applications in E-Commerce

The advent of high speed internet has revolutionized the way businesses are conducted. One sector that has benefited immensely is ‘E-Commerce’. Retailers are provided with innumerous opportunities to explore and growth in sales and revenue. As a matter of fact, E-commerce has been taken to a very high level by artificial intelligence.

Applications of AI in Ecommerce

Artificial intelligence in ecommerce industry has helped small entrepreneurs to compete with the bigger ones and to enjoy doing business over the web. Some of the benefits derived from AI are as follows:

·       Image search: There are situations where the shopper may come across an item or product that is liked, but is not able to know what it is or called! This task can be made easy with artificial intelligence. Image search concept has been implemented in the sites with AI application to understand images. Now images based search has become possible. Mobile apps can find products simply by pointing camera towards products, thus eliminating keyword searches.

·       Chatbots: They are being used by Ecommerce sites to enhance customer support. Buyers are now provided with 24/7 customer support. A chat box prompts site users to provide instant help with their selection or to answer their queries. Highly filtered results can be enjoyed in minutes. AI is used for chatbot creation and communication is made possible with humans. Also, it helps to collect user’s past data to provide personalized experience.

·       Managing customer data: Two things are abundant in Ecommerce platforms, with one being data and the other endless product list. Plenty of data is to be dealt by ecommerce platforms on a daily basis. It can be total item numbers sold, daily sales, receipt of number of orders, etc., including managing of customer data, something not possible by humans. Besides collecting data in structured form, it is also able to create appropriate insights to understand customer.

·       Inventory management: This is indeed a crucial aspect for any business and there is a genuine need to update continuously about the inventory currently held and how much is required to be ordered periodically. Ecommerce sites do have product categories in thousands. Humans cannot possibly keep an eye on the entire inventory at the same time. AI fulfills this task easily and effortlessly by developing correlation between future and current demand.

·       Recommendation systems: After checking products at different sites, the system shows similar products being prompted by the leading ecommerce sites like Amazon! It is due to AI application in Ecommerce. Machine learning algorithm and AI can predict buyer behavior from past searches, frequently bought products and likings. Predicting user behavior, ecommerce sites can recommend those products which may interest the users. Thus, it enhances user experience and ensures that the person does not have to spend much time searching for the product, thereby increasing sales.

·       Cybersecurity: This is another area that has been benefitted by AI implementation. Any fraudulent activity is detected and prevented, thus allowing users of ecommerce sites to have peace of mind when shopping for their favorite products.

Therefore, artificial intelligence in ecommerce sectors has definitely benefitted retail businesses and users alike.
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