Uses and Benefits of Artificial Intelligence (AI) in E-commerce

E-commerce is going to be a place for enhancing the shopping experience for a customer. Will that turn into shelling more bucks, just because the customer is mesmerized by the overall experience? That is a psychological case study to be discussed some other day. But there have been heated rivalry going on at the e-commerce industry lately. With the acquisition of Indian e-commerce giant flipkart by America’s largest retail chain Walmart. India has become a level playing ground for e-commerce giants to stamp authority after losing the Chinese market in the e-commerce. Lately what is the latest happenings in e-commerce? Jeff Bezos is banking for maximizing automation and increasing profitability by reducing opex (operational expenditure). But wait a minute what are all these on earth have to do with uses and benefits of AI in E-commerce? Let’s find out.

Ever thought of a brain fade while shopping?

Yes, this happens quite a lot with people. We know what to buy when we leave from home and reaching the store we tend to make unproductive and inefficient decisions and end up spending more than we thought of. Imagine a place where you are being shown only the products or related products without much distraction. Yes, this is inculcating the good habits like the future belongs to Artificial Intelligence in e-commerce. When I said good habits and AI, I didn’t mean separately, but both goes hand in hand with each other. Who knows that Alexa would one day shop on behalf of you from amazon websites?

How does this technology work right away?

Rightly said by Mr. Mukesh Ambani that data is the next crude oil or next big thing. With the advent of increasing internet connections and the increasing penetration for the next billion of the world population going online, tech gurus and business pandits saw this coming. This was inevitable! AI and machine learning would be the core of e-commerce. Today’s tech companies use cookies to study the pattern of online surfing. This is then stored as data for companies to exploit upon. There are other ways such as developers manually generating data and converting those leads into sales, this being the uses and benefits of AI in e-commerce. All these combined together in future would be done by implementing AI at all the levels in e-commerce.

Is this a win-win situation for both the consumer and seller?

There are many ways to look into, but I would rather stick to the merits. Companies stick to using chatbots and chatbots can generate valuable data like customer taste and preferences and behavioral pattern over the internet. Chatbots also ensure seamless customer support which can be 24*7 and 365 days across various regions. Deploying chatbots would increase the conversion rates manifolds and would be in the interest of the business and organization. The math is easy, AI is all over and this would make things very smooth and seamless.

Integral and crucial role played in logistics by Artificial Intelligence!

As and when the scale of the business increases the complexity increases manifolds. This has to be dealt with diligently and also there has to be too much manpower that has to be deployed at one place. This is where Amazon is focusing on to deliver good logistics but deploying automation and in it obviously Artificial intelligence. There are ‘n’ number of mathematically correct algorithms that are to be deployed while sorting the logistics facilities.

Summing up the benefits of the AI in e-commerce also goes on in suggesting apt search engines for the products and the related substitute products that you would make purchase of in place of it. It is just like the future would be like Rick and Morty adventures with complete AI experience!