AI in eCommerce: The New Revolution for Online Businesses

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AI in eCommerce The New Revolution for Online
Businesses

AI in eCommerce The New Revolution for Online
Businesses

• Whenever we hear the term artificial
  intelligence (AI), the first thought that
  springs to mind is a bizarre story technique that
  is commonly seen in science fiction films and
  literature. However, in the e-commerce market, AI
  focuses on the concept of algorithms and learning
  technologies, which serve as the foundation for
  automation and much more.

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The Rise of AI in E-Commerce
According to Gartner, the number of corporations
implementing artificial intelligence has
increased by 270 in the previous four years.
However, there are many misunderstandings about
AI in general.
For example, many people assume that artificial
intelligence is a new field of research, despite
the reality that it has been around for about 70
years (the term artificial intelligence first
came into use in 1956).
Naturally, a lot has changed since 1956. For
starters, artificial intelligence is no longer
limited to the most powerful enterprises and
research organizations. Because of the
inexpensive cost (in comparison to many legacy
technologies), small and medium-sized businesses
have been able to integrate AI into their
operations.
As a result, the technology has spread across
almost every major business in the world, with
hundreds of distinct implementations and
application cases. 1
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Benefits of AI in E-Commerce

• Virtual Assistants
• E-commerce virtual assistants are bots that
  employ machine learning and natural language
  processing technology to comprehend customer
  inquiries and deliver the appropriate help. This
  is hardly a novel technology, since we are all
  familiar with Apples Siri, Amazons Alexa, and
  Google Assistant by now.
• E-Commerce Personalization
• E-Commerce Personalization is the process of
  tailoring the purchasing experience to individual
  consumers needs, pain spots, tastes, and
  preferences. In other words, it is the technique
  of actively and dynamically exposing material
  (whether it be items, brands, or campaigns) to
  the consumer depending on their purchase history,
  click-through, browsing behavior, and so on.

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How are eCommerce Companies using AI in Business?

• Personalized Product Recommendations
• Collecting and processing customer data regarding
  their online purchasing experience is now easier
  than ever. AI is being utilized to provide
  customized product suggestions based on prior
  consumer behavior and lookalike customers.

• Enhanced Customer Service
• You can simulate higher-touch customer service
  with virtual assistants and Chabot technologies.
  While these bots arent totally self-sufficient,
  they may help with basic transactions, freeing up
  real support employees to handle more difficult
  issues.

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How Amazon uses AI in E-commerce
Amazon uses AI in two ways which are
Personalized Product Recommendations
Amazon provides tailored product suggestions as a
marketing tactic that allows the corporation to
maintain its market share and please customers by
precisely predicting their demands through
customized product recommendations. Amazon
employs item-to-item collaborative filtering to
fuel its recommendation system.
Alexa-Enabled Voice Shopping
Amazon says that its voice assistant Alexa
enables customers to locate and purchase things,
as well as walk through the checkout flow, using
voice instructions rather than clicking or
tapping a screen. According to Amazon, this
allows users to control their checkout experience
without having to use their hands.
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AI For eCommerce Content Creation and Scaling
The eCommerce industry is a fast growing industry
where business owners constantly struggle with
content creation. AI in eCommerce assists in
content creation and scaling. Thanks to AI
powered content writing assistants, a major chunk
of writing redundancy is reduced. AI automated
most of the writing operations, so the eCommerce
businesses can focus on bringing more value to
their online store. WriteMe.Ai is an AI-powered
content writing assistant which helps eCommerce
businesses and content creators to generate
excellent content for landing pages, product
pages, blog posts, social media, email campaigns
and digital ads in minutes!
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Conclusion
AI and machine learning technologies have already
had a significant impact on e-commerce and will
continue to do so. AI enables an e-commerce
company to analyze massive amounts of data every
second without breaking a sweat. The demand for
such technologies in e-commerce will grow.