Top 5 Predictions About the Future of Artificial Intelligence in E-commerce
E-commerce is a highly competitive and very much data-driven industry, where those businesses win that perform high speed of service, ensure a high level of quality and maximum convenience for customers at all stages: from selecting to making a purchase.
Artificial intelligence brings lots of opportunities for e-commerce stores to better communicate with their customers, analyze large volumes of customer data and thus – increase customer loyalty and satisfaction.
We at Forte Group provide customers with full-cycle software development services, while a significant part of our developments involves e-commerce solutions. Our analysts created a list of predictions concerning how artificial intelligence will help e-commerce in the nearest future.
AI is able to analyze a specific customer’s behavior and predict their further actions and thus to offer a customer what they need. Personalized recommendations based on the previous shopping experience and habits will encourage buyers to make more purchases and, as a result will bring increased profit along with customer satisfaction.
Virtual buying assistants not only will notify customers about price drops on products they are interested in and take over routine processes like filling out forms, but also will be able to make purchases on behalf of a customer.
Chatbots will replace humans in the process of communication with customers. But at the same time communication will be personalized and customers will not feel like they are talking to a robot. What is more, chatbots will be able to identify the needs of a customer, check the delivery status of the order and provide the informative response.
With the help of Artificial Intelligence huge volumes of unstructured data in e-commerce will be quickly analyzed both in real-time and dynamically. That will allow to find out which products or brands are more popular in a specific region, which stores will soon run out of specific goods and where discounting is needed.
Customers will be able to take pictures of items they like anywhere: in a shop window, on a billboard or on a person in the queue – and easily find them in e-commerce stores even without knowing the brand. This will contribute to a significant increase in e-commerce sales.
All images credit: Pixar