Introduction to Artificial Intelligence (AI)

A broader brand with advanced functionality in the domain of computer science is considered to be AI – it is an abbreviated form of Artificial Intelligence. The machines having AI technology are smartly designed in such a way that the tasks which are being managed by the humans can now be replaced with the technology of Artificial Intelligence. The are some key players in the world of science development among which, two of these factors are the Artificial Intelligence’s branches, which are Natural Language Processing (abbreviated as NLP) and Machine Learning.

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The eCommerce industry has been deployed the technology of Artificial Intelligence, that intends to provide specific targeting and personalized experience by the prospects. It has been claimed by Statista that by the end of year 2021, around 3.8 Billion people are anticipated to have smartphones, and we are witnessing the steady increase in these numbers going up.

This estimated indicates that mobile industry will see a boom since everyone urges to get himself or herself a phone. These smartphones aimed to provide user friendly interface and smooth functionality of the device which will give rise to the lead generation.

There are some methods and tips to incorporate the Artificial Intelligence (AI) in the industry of eCommerce so that the processes of sale could be optimized.

1. Users Get Options for Effective Search

It is a thumb rule of business to follow customer centric values in which customer is a king, he/she can never be wrong regarding their needs or demands, and it’s your responsibility to provide them positive experience. Therefore, keeping your customers on priority is a core value of a customer centric businesses.

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Does is bother if you are crazily looking for a specific thing and end up having nothing but lose temperament? Exactly, that’s your customers feel when your website doesn’t meet their expectations.

However, being a business handler, jot it down in your to-do list that it is your responsibility to give easy guide to customers regarding the products they had been looking for. This can be possible by incorporating a visual search feature or a voice search feature.

• Voice Search

While using the Google on search engines, already the most famous feature is voice search. In it, you can put forward your query by just speaking in in Google mic and eventually the voice recognition feature gives the amazing outputs.

For instance, Alexa – it the Artificial Intelligence technology present on Amazon being its digital assistant, it recognizes the language in which you are speaking and show the results (command based) which you were looking for.

• Visual Search

The online store’s engagement can be increased by incorporating the visual search feature and also enhances the chances to retain conversion visitors, thus generates more leads. By using this feature, one can upload the photo and make similar searches with it which are present in your online shop. This credit goes to the algorithms of machine learning which is processed by the system, then the image gets classified and at the end it shows similar outcomes.

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• Recommendation Sales Feature Implementation

Recommendation Sales Features is among those systems which analyze the information of the prospects i.e. the user’s browsing history, prior purchases track. This is all done in order to give suggestions or recommendations based on the services, information and the products.

The Recommendation Sales Feature comprises two main systems, which are:

• Filter in Content

This is the system technique of Recommendation Sales Feature in which metadata filtration, choices and activities of a single user are utilized. This filter performs by considering the user behaviors, and pattern of activity for the integration to a smart algorithm. It can provide recommendations or suggestions to the visitors of website by keeping a trach of prior data and information.

• Collaborative Filter

In the collaborative filtering feature, the system provides recommendations or suggestions by keeping track of several users’ data and information unlike content filtration in which data is gather by a single user only. Collaborative filter is more reliable and accurate than the content filtration. This particular feature was incorporated by the Amazon and it witnessed a big increment in sales, after implementing this algorithm.

An increase in website’s click-through rate along with personalized experience of potential buyers can be seen by incorporating the recommendation sales feature. Since the complementary products or services are being offered to the customers which gives a best combination when used with original product, a clear increase in average value of order can be seen. By holding the attention of your customer through such offers can make them stay on website or retain for a longer time than usual, thus conversions take place.

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• Designate a Virtual Assistant or Chat Bot

To start the conversations with your users, chat bot turns out to be the great source using different channels. This will benefit to your customers by offering them proper assistance and make them understand the right choice through the navigation.

Most of the times, prospects are quite eager to ask and know different details about the services and products. It is not easily possible to stay online all the time to entertain the questions of customers. Here, how does an automated chat bot incorporation idea sound like? Which can recognize the intention or aims of the customers by following the keywords and the already communicated scenarios.

There are 64% of the businesses’ customers who anticipate a smooth interaction by making use of online businesses. A quick response can be offered to the customers, from which different kind of data can be gathered i.e. email information and fill forms for other information. A digital and virtual assistant is an application program that knows the normal language of human beings and it can benefit users by responding to the questions, thus eventually enhances the chance of leads.

• Products’ Description Optimization

A smart way to give detailed introduction about your products or services by adding products description on website against the respective item. This is how you can make your website SEO friendly to get the top rank of your online shop on search engine. It gives businesses the motivation to write optimized content for their products and services’ description, which helps to get organic audiences on your website. Well written descriptions that beautifully elaborates the products’ features can turn many leads into the conversions, since they can make up the minds of customers for a purchase.

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This is all done manually usually, but it can all be performed automatically by using the technology of Artificial Intelligence, thus humans can save and utilize this time in other important tasks.

Many of the websites are incorporating Artificial Intelligence (AI) technology in order to get their products and services’ description writing done, Alibaba is one of them. More than 20,000 lines of descriptions can be prepared in a second by incorporation of Artificial Intelligence technology. This way website’s merchants will not consume more time in creating descriptions of products and services.

• Avoid Fake Reviews

Majority of the prospects tend to make a purchase by following the reviews of other customers, and sometimes competitors or haters give bad reviews for no reason. Artificial Intelligence incorporation can identify and delete the spams and fake reviews.

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• Benefit from Price Optimization

It is the process in which a moderate price is identified that your targeted audience can pay for your products or the services. Through this, more sales and conversions can be made.

• Supply Chain Automation

If there is a mismatch between demand and supply of your online shop, you can face trouble in terms of items’ shortage. The “Out of Stock” status divert your customers’ mind to switch to the websites of your competitors.

Having an automated supply chain management, you can keep check and balance of your inventory and win the conversions of ready buyers.

• Conclusion

The online businesses’ and startups’ development and maintenance can be wisely managed by incorporating the Artificial Intelligence (AI). The consumers and merchants’ gap can also get bridged through (AI). With the passage of time, the demands of prospects are increasing, and it is becoming quite a challenge for every business to creatively engage the prospects. AI is on a journey to evolve the customer’s experience; thus, it is beneficial for ecommerce and customers both.

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bizibi is a full turnkey solution for an ecommerce platform purely focused to the Trinidad and Tobago market. A feature rich multivendor platform that includes delivery and payments as well as a fully powerful marketing engine that not only generates a whole portfolio of marketing material for you, but also with its integration with social media we can also deliver it to your audience.

If you would like to have an online store go to bizibi and signup here.

Before diving deep into how can you effectively use Artificial Intelligence in eCommerce, let’s first understand briefly what exactly is AI or Artificial Intelligence. 

Here we go!

What Is Artificial Intelligence?

Incorporating complex algorithms and software, Artificial Intelligence (AI) is a highly advanced and broad branch of computer science that mimics human cognition to deliver unrivaled performance. In simple terms, Artificial Intelligence deals with the designing of smart machines that have the potential to carry out various tasks that would otherwise require human intelligence. Two main branches of Artificial intelligence have been the primary players for bringing a paradigm shift in the world of technology. They are:

1. Machine Learning (ML)
2. Natural Language Processing (NLP)

Why AI Is Important For E-Commerce Spectrum?

According to Statista, around 3.8 billion people across the world are estimated to have smartphones by 2021. This number will only rise further. It simply means that online purchases will also boost up. In such a case, AIplays a pivotal role in providing a seamless as well as interactive user experience. It has already been adopted by various businesses, including the eCommerce industry because it assists the business to provide more personalized services and significantly helps in increasing sales. 

Ways to Use AI in E-Commerce

1. Including Effective Search Options

Imagine you are looking for a particular product on a platform. Despite writing accurate keywords, you are not getting the desired results. How will you feel about it? Of course, you will just leave the platform and opt for other available options, right? 

You need to understand that it is very important for you to create a positive customer experience. It will be very annoying for your users to search for something on your website and not find what they were actually looking for. Therefore, it is your utmost priority to provide your users with effective search options so that your platform can guide them to the right products. There are two ways through which AI can help you to provide effective and relevant search results. They are:

• Implementing a voice search feature.
• Implementing a visual search feature.

2. Integrating a Chatbot oR Virtual Assistant

There are times when customer services might not be available 24/7 and hence, you cannot respond to the customer’s queries all the time. This problem can be solved by integrating a Chatbot. 

A Chatbot or Virtual or Digital Assistant is a simple application that has the capability to understand the natural human language. Therefore, such applications can help the users to solve their queries, doubts, or any other questions regarding the products. It is an ideal way, not only to initiate a conversation but also to guide the users to the right choices. With Chatbots, you can provide an immediate response to your customers, which is much needed while dealing with them. 

3. Optimizing Your Product Descriptions

Well-optimized descriptions of the product can assist you in gaining a higher ranking for your online store. Let’s see how:

• They work for your SEO.
• They drive organic traffic to your website.
• They convince potential leads to make purchases.
• They increase brand authority and trust.

Although you can optimize your product descriptions manually, it is best to automate the whole process of optimization with the use of Artificial Intelligence. It would save a lot of time as well as energy, which you could use for other important purposes. 

One of the best examples of a website that uses AI for optimizing their product descriptions is Alibaba. You will be amazed to know that the website’s AI tool produces around 20,000 lines in a second. Therefore, there is no need to spend time on creating as well as optimizing the content as the tool does it all. 

4. Discarding Fake Reviews

Do you know that around 90% of customers make purchases on the basis of reviews and approximately 86% of buyers are reluctant to make purchases from a business that has negative reviews? Therefore, it is always important to get rid of fake reviews. It can highly affect your business’s name as well as revenue. With Artificial Intelligence, you can easily spot as well as delete fake reviews, which is extremely pivotal to prevent any scam. 

5. Leveraging The Benefits of Price Optimization

For online shoppers, price plays an important role in determining whether to buy your product or not. Therefore, it becomes important for you to make sure that your prices are fair, competitive, and reflective. The process of price optimization includes searching for the optimal price that the customers are ready to pay for a specific product/service. It may sound easy to you, but it is really not like walking on the roses. The process, sometimes, can become highly complex, especially at the global level.

For such a complex task, you can use AI’s feature named ‘dynamic pricing’. In this, the whole process of price optimization is automated by setting the best optimal price for your product. One of the best examples of a company that uses dynamic pricing is Amazon. You will be surprised to know that over 250 million changes are made in Amazon prices every day. 

Final Thoughts 

Undoubtedly, the proper use of AI in the E-commerce spectrum can enhance production as well as the maintenance of an online business. Besides, it can also assist in bridging the gap between the consumer and the merchants. 

With the evolving time, the demands of online shoppers are increasing rapidly, and so does their expectations. AI can help you stay ahead in this highly competitive market and also grow your business like never before. Together AI and your E-commerce store can deliver extensive positive results for you!

bizibi is a full turnkey solution for an ecommerce platform purely focused to the Trinidad and Tobago market. A feature rich multivendor platform that includes delivery and payments as well as a fully powerful marketing engine that not only generates a whole portfolio of marketing material for you, but also with its integration with social media we can also deliver it to your audience.

If you would like to have an online store go to bizibi and signup here.