We encounter artificial intelligence (AI) on a daily basis without realizing it; for example in health care, transportation, toys or banking. Similarly, artificial intelligence is regularly used in the use of smartphone apps and online services. The recommended videos that can be viewed on Netflix or YouTube, as well as music streams on Spotify or Apple Music, were individually selected for each consumer using the selection and content from previous use.
The same is true for the suggestions that can be seen when visiting online merchants. Merchandise items displayed at the bottom of a particular web page have all been carefully selected using AI algorithms and calculations for each individual consumer, based on analysis of data collected during online activities.
What is special about AI in e-commerce is that customers have questions about their products and they want to get accurate answers quickly. Automation and AI in e-commerce can help directly in the preparation of the data as well as in the active delivery of the data. It then seems as if a personal assistant is available in real time for each individual person visiting a website. According to Econsultancy, personalization has increased significantly over the last 4 years and is now one of the top 3 factors in online commerce.
This brings us to the core aspect of the current online trade: Personalization makes it possible to sell offered products online better and faster. For example, if someone looks at certain table lamps or jeans, these items will accompany the consumer in different variations through the following online foray. This is only possible if suitable and comprehensive article data is available. Although this development is not new, it will accompany potential buyers even more intensively in the future with online content based on their personal preferences.
This level of personalization enhances the customer experience and helps retailers increase sales. It is the ability to quickly assemble, analyze and present large amounts of data. The AI can possibly do this better.
Let's take a look at the jeans I mentioned, for example. The AI breaks the jeans down into hundreds of individual elements, such as the shape of the stitches, the height of the pockets, and ornaments; all the subtle things that entice consumers to buy the products. He Commerce can capture these keywords in real time and explore what is relevant to the consumer in order to increase the product information content. Equipped with a product database, the AI, after researching the customer's needs, is able to present appropriate suggestions that lead to sales as well as additional sales. The data analysis of the search results optimizes the findability.
This technique can be used with any product that has subtle visual differences from which the AI is derived. From jackets to sneakers or furniture. The AI will continue to evolve, refining the models in the algorithm to get more accurate search results. As long as an e-commerce merchant's content is powerful and all possible data attributes are prepared for consumers and prospects. This state can be achieved with data preparation, data cleansing and data enrichment. Advances in AI technology enable retailers to deliver new and exciting services in personalized customer experiences to increase profits.
It also means that customer experiences are mainly made possible by AI. Through suggestions that accurately predict customer preferences and search queries that lead to items that consumers are actually interested in. What's more, consumers not only demand suggestions, they expect them. Retailers must therefore find out what each consumer is most likely to buy when they visit the website. The result is a dynamic website structure, redefined for each customer. The individually compiled offers help to generate more sales and online purchases are less likely to be abandoned.
Consumers no longer compare an online store exclusively with a similar online store, as they are confronted with the best consumer experience ever in any sector. With more than half of all purchase decisions being based on the customer's experience, delivering a richer and more detailed customer experience is a matter of all or nothing. This makes sense in a world where consumers have access to virtually unlimited information and alternative options. Because there are many ways to provide consumers with enhanced experiences, many brand companies are using artificial intelligence.
AI prepares product databases and internal shop systems to find products online. For this purpose, most online shoppers use the search function on e-commerce websites. Challenge: Since consumers do not always search for the right word or make spelling mistakes, retailers are unfortunately unable to attract consumers with a high purchase intention.
A quarter of all e-commerce search queries are misspelled. This leads to sales losses of several million Euros, so again AI comes into play. With AI-based visual search, consumers do not have to make an effort to describe what they want to buy. By applying image recognition and natural language processing to search functions, AI helps retailers identify relevant search terms from a photo and make relevant search queries. For example, eBay, the world's largest online marketplace, used AI to quickly identify and match images uploaded to the app with the image search function based on visual similarities. Today, traditional text-based keyword searches are no longer sufficient to find the right product.
For him Commerce it is more difficult than before to deliver experiences that meet or even exceed customer expectations. Supported by AI, e-commerce can provide a differentiated experience that your customers will remember. Databases need to be tidied up and enriched, then consumer interaction works much better. It is important for them Commerce to realize that AI has become a part of our world and that it makes sense to use AI for their own benefit.
