Artificial intelligence (AI) or “machine learning” has quickly transformed from science fiction to reality, and is currently on track to become an integral part of the corporate business environment. According to experts, by 2020 85% of all customer interactions with businesses will occur via machine learning programs. So if your organization has an e-commerce component, read on to learn how AI can help you stay ahead of the curve.
Predicting what your customers want
There are many ways AI can benefit businesses and consumers. For example, machine learning algorithms can identify customers’ habits and interests, simply based on their search histories. Properly configured, AI can analyze customers’ shopping behaviours to customize the online experience based on a variety of factors like browsing patterns and purchase history.
Product recommendations, pairings, and promotions can also be targeted to individuals, improving the customer experience and your bottom line.
More intuitive product recommendations
Machine learning is also great for cataloguing products. In the past, businesses would send out cumbersome product catalogues that made it difficult for customers to find what they were looking for. In the near future, customers will be able to upload photographs of clothing that’s similar to what they want to purchase. Through AI, a website will be able to analyze the photographs and create a catalogue of suggestions based on the uploaded image.
Customers can still talk to a “representative”
With advances in “plain language” systems, more and more users will rely on e-commerce over face-to-face sales interactions. Machine learning is getting better at interpreting conversations, and answering with natural-sounding responses.
If the choice is either searching “Blue summer dress,” or “Billowy summer dress in a warm blue colour,” which do you think would make customers’ shopping experience better?
By replicating the in-person shopping experience over the internet, businesses can shift away from brick-and-mortar overheads to an e-commerce-centred structure. They will realize significant savings on capital expenditures and human resource investment, as well as reduce costly human errors.
If you’re ready to begin integrating more “machine learning” into your business model, we already have the means to make that happen. Contact our IT service experts as soon as you’re ready to transform your e-commerce business into a money-making powerhouse!