Artificial intelligence, quantum computers, and brain implants may have grabbed headlines, but these technologies have yet to affect our daily lives. Launching an online business is a dream for many entrepreneurs. In the present scenario, creating a profitable company which needs an amount of time isn’t a big deal as you no longer require to pay for a physical storefront. All you have to do is you require to set your own work schedule, be flexible enough to work from home or anywhere you desire, and most importantly, you can make money while you sleep.
However, running an online business is still a lot of work. There are plenty of ways for things to go wrong as the business is running 24/7. If the proper systems aren’t put into place, it can quickly lead to a nose dive. Here comes Artificial Intelligence (AI) into play. There is no denying the fact that technology is just about everywhere right from the growing number of self-checkout cash registers to advanced security checks performed at the airport; without human intervention. And you may find this interesting to know that with tech giants such as Google and Microsoft; the tech is all set to delve into turbo drive in the next couple of years. In fact, major tech firms such as Facebook, IBM, and Yahoo have admitted in public that artificial intelligence has become a new source of business.
Down below, I would like to mention certain ways to use artificial intelligence in e-commerce.
#1 Creating a customer-centric search
Can you imagine of a business that enables e-commerce search engines to think the same way humans do? Well, we have Twiggle! By using natural language processing, the company can easily narrow, contextualize, and ultimately improve search results for online shoppers. Another interesting business is a US-based tech start-up Clarifai; their software is ‘artificial intelligence with a vision. They enable developers to build smarter apps that ‘see the world like you do,’ empowering businesses to develop a customer-centric experience through advanced image and video recognition.
Moreover, AI is enabling shoppers to discover complementary products in regards to size, color, shape, fabric, or even brand. Honestly speaking, the visual capabilities of such software are truly outstanding. Gone are the days when a consumer required to be shopping to see something they would like to purchase. For example, if you like your friend’s new dress or a work colleagues new pair of gym wardrobe’s. By using visual, AI enables consumers to easily find similar items through e-commerce stores.
#2 Identify exceptional target prospects
Are you facing challenges such as lead generation? Most of the new AI technology arms e-commerce businesses with timely intelligence to solve such challenges. Mintgo is one such business that provides artificial intelligence solutions for marketing, sales, and CRM systems. Through Mintigo’s software, Getty images have successfully generated significant new leads by capturing the data that shows which businesses have websites featuring images from Getty’s competitors.
Which means identifying high-quality prospects and giving their sales team a competitive advantage is no longer a tricky task. Practical sales intelligence is delivered at scale to Getty’s sales team across millions of potential customer records. Without AI and machine learning in place, Getty’s system would not be possible at these volumes.
#3 Next level of personalization
Personalization isn’t a new term for e-commerce, if you have been using Amazon, then I am pretty sure you exactly know what I am about to reveal in this point. With ever-increasing advances in artificial intelligence and machine learning technologies, new deep levels of personalization have started to penetrate the fast-growing e-commerce world. Boomtrain, AI engines sit on the top of the multiple customer touch points to help the business analysis of how customers are interacting online. Whether it is a mobile application, the website, or an email campaign, the AI engine is continuously monitoring all devices and channels to create a universal customer view. This unified customer view enables e-commerce retailers to deliver a seamless customer experience across all platforms.
So next time, when a consumer is browsing iPhone cases or something on your website, chances are there, they might receive a push notification on their mobile regarding flash sales on iPhone cases. It’s basically a win-win situation for both the parties.
Dave Jarvis is working as a Business Development Executive at Magento development company – etatvasoft.com. His aim is to sharpen his analytical skills, deepening his data understanding and broaden his business knowledge in these years of his career. Follow Him on Twitter.