As a business owner, you know what your customers want and when they want it. Or at least you think you do. Automation is already taking over with services like Amazon Go, an AI-based shopping experience. These platforms are flipping conventional wisdom on its head, illuminating insights about how, why, and when shoppers buy.
AI is quickly changing the experience of online shopping for businesses and consumers. As an ecommerce channel owner, you’ll want to leverage this evolving technology in the most effective ways possible.
Gartner predicts that by 2020, over 80 percent of all customer interactions will be handled by AI.
How has AI led to big wins for retailers?
With rich data available for AI to process and leverage, many companies are seeing impressive results. Implementing artificial intelligence services for ecommerce consistently improves conversion rates.
Understanding Customer Behavior
AI can observe a user’s digital activity and the behavior of users across the web, deciphering their intent. Personalization then parallels the work of an experienced store associate. When you walk into a store, the salesperson who works there can learn a lot about you. They learn from what you say to them, and they begin building their understanding by observing your behavior:
A constantly learning AI that understands language can draw similar conclusions from online behavior. It understands not just what words mean, but also how they relate to the products in the store. An AI system can serve up recommendations relevant to each individual consumer.
AI-based predictive analytics helps to keep customers engaged on an ecommerce site. The program will offer upsells and attempt to re-engage for further business or convince a customer to go back to an abandoned basket. Marketers are already using predictive analytics to drive conversion, but now it’s happening at the cart level.
AI supported predictive and prescriptive analytics, supported by an automated delivery of the pre-determined content through the right channel helps keep customers engaged and drives more business. Delivery could be into the site in real-time to drive cross and upsells. Or, by using the time and channel predicted to get the best possible engagement. AI will attempt to re-engage for further business or convince a customer to go back to an abandoned shopping cart.
The Bottom Line
AI programs are spreading rapidly to ecommerce websites. Early Adopters will have a significant competitive advantage by offering a better customer experience, and gaining higher sales per customer. If you’re running an ecommerce business and not currently leveraging the power of AI, now is the time to get started! Optimize your shopping experience with data-rich predictive analytics, targeting, and machine learning. Entrepreneur.com provides a helpful infographic that shows how AI in ecommerce can grow your business.
For more info on how to bring AI to your ecommerce platform, contact Tenzing today.
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Devops Engineer at Tenzing
Antony has been in the Information Technology field for almost 15 years and has worked in the SMB market as well as large enterprise level corporate environments. With a Master's Degree in Computer Science and Electrical Engineering, Antony is very active in the area of Artificial Intelligence strategy.