It shouldn't be surprising that we use eCommerce more than before. The online retail industry continues to grow before Covid-19, and global pandemic only helps create more demand for digital shopping options. Emarketer reported that e-commerce grew by 28% by 2020 and as a growing need, technology that encouraged e-commerce also grew and adapt better according to consumer needs.
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One of the core technology that encourages online retail booms is artificial intelligence (AI). It sits in the background, analyzes a large number of data so that the e-commerce platform can quickly serve their customers in the appropriate way and how they shop online.
Here are 10 ways AI helps e-commerce continue to grow.
1. Smart recommendation machine
Online retailers can recommend goods to customers based on their previous purchase and preferences and products they have seen. This is done with technology known as in-depth learning, AI function that processes data and creates a pattern for decision making in a manner similar to the human brain. For Amazon, 35% of their $ 21 billion income comes from using smart recommendation machines.
2. Chatbots conversation
AI Powers Natural Language Processing (NLP), which can understand the language as spoken and not only written. Chatbots can now understand consumers easier, which allow them to react more accurately. The result is a smart virtual customer service team that can operate in various languages, 24/7. Juniper research predicts chatbots will save business more than $ 8 billion per year in 2022.
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3. Computer vision.
On large retail sites like Amazon and eBay, thousands of images are uploaded every day. Check everything to ensure the quality is perfect and not harming the brand retailers will be a sustainable task for the big team of employees. But AI can scan thousands of images quickly to maintain the quality of the "store window" site.
4. Learning Machine (ML) Analytics
Maintaining a strong online retail platform not only requires strategic implementation, but constant reviews and adjustments. AI and ML analyze data, providing digital retailers with intelligent insights that they can use to perfect their activities. ML is also used to process a large number of data and seek anomalies that indicate fraud activity, so companies can be alerted for early and minimize damage to their customer and brand loyalty.
5. Image recognition
If the customer has an image of what they want, it can be easier for them to upload images to eCommerce sites as a search. It is common for online shopping sites to have large image banks, and AI scan these image banks and issue matches or make alternative recommendations. Online retailers also use image recognition to find inappropriate content. For example, with the introduction of the logo, a legitimate brand can scan large image banks for fake products and their requests removed from online retail sites.
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6. Augmented Reality (AR) and Virtual Reality (VR)
Both AR and VR use AI technology. AR adds elements to what is already there, so if someone wants to paint their new color kitchens, they can upload pictures of their kitchen and change the wall for paint color retailers. Or maybe they want to try a new hairstyle; They can see what it is in their head. VR creates an environment from the beginning and through the use of a headset, consumers can see things that live and really experience what it feels to set up in a new reality.
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7. Automation
AI moves a number of marketing and administrative functions that run an e-commerce business. Its use varies greatly, from voice recognition with sound devices, to personalized marketing campaigns that have the ability to specifically target individuals, to review inventory so that the latest product availability.
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