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Artificial Intelligence
Conversational AI for the Ecommerce Industry

Conversational AI for the Ecommerce Industry

 

Conversational AI for the Ecommerce Industry

This is the era of digital technology; Every day, we face the most exciting technological changes around the world, which we have ever seen.

Due to which today, millions of people prefer to shop through eCommerce platforms.

The rate of development and adoption of new technologies has been high in every industry in recent decades, and is set to continue in the future.

A few decades ago, we needed to go to a physical store to buy something, and we needed to check if the item was stock available.

If it is not available again, one needs to visit another physical store or return to the same store after a few days, which is very annoying for customers.

But, with the introduction of eCommerce, the nature of retail has changed significantly.

Now, we can view and buy unlimited products from online stores with few clicks without stepping outside the office or home, and they can also do order tracking to know the status of the order.

Ecommerce platforms have become the need of the hour for every user, and it is expanding very rapidly.

Due to which today, millions of people prefer to shop through eCommerce platforms.

“According to Statista reports, the number of global digital buyers will reach 2.14 billion by 2021.”

Catching up with the growing needs of customers is one of the most important trends in the eCommerce market.

But, selling goods / products online is still one of the important challenges facing many eCommerce platforms.

When eCommerce companies find complexity in meeting the growing needs of customers, they move to automation.

As a result, many eCommerce platforms are shaking up conversational AI technology, which has brought voice assistants and chatbots to eCommerce.

And conversational AI is a game-changer for both users and customers, which can enhance customer-centric and customer-driven practices.

After online shopping sites, the messaging app, Conversational AI (includes NLU, Natural Language Processing and ML).

Many enterprises have seen opportunities facilitated by conversational AI technology and have helped their customers shop more easily.

According to IDC, “worldwide spending on cognitive and AI systems will be $ 58 billion in 2021” [Source: Businesswire]

Now, let’s take a look at how AI-powered ecommerce automated assistants will help develop eCommerce platforms and shape the future of eCommerce marketing.

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By the end of this blog, we will tell you how advanced the e-commerce industry is with the use of conversational AI.

Enhanced customer support

We all know that customer support plays an important role in the growth of the business.

Because without customers, no business has existed for a long time, and the maximum number of brands are before providing 100 percent satisfaction to the customer.

The biggest challenge in the eCommerce platform is the lack of 24/7 enhanced customer service, and this is the only reason many eCommerce businesses fail.

“According to a study by Sprout Social, 89% of customer queries are required, which are usually ignored by most eCommerce platforms.”

The response time of the business to the buyer’s queries is approximately 12 hours. This is why most platforms are losing their potential buyer.

And this issue can be resolved with the help of conversational AI.

A chatbot for ecommerce can answer all the repeated questions asked by users, and it also builds a genuine relationship with customers.

The 24/7 presence of live chat will provide a huge competitive advantage over others in providing a customer experience, and it enhances the completeness of your ecommerce among customers.

Visual search engine

in recent times, Conversational AI E-commerce platforms with visual search capabilities are allowed to be shut down.

Visual search engines make the buyer’s life easier than before with the help of image recognition technology.

Using this ecommerce AI chatboat capability, one can search by the captured image and reach the desired product location with minimal interaction.

Benefits of visual search for retailers

  • Integrates offline and online shopping experience
  • Path short from search to conversion
  • Easy tracking and evaluation of achievements
  • Capitalization of social evidence

Fake Review Detection

85% of users do online research before purchasing a product from online shopping.

Fake reviews became a headache for most enterprises.

All these review accounts can be fake or bot accounts. Your contestants or hackers may be behind these things.

In online shopping, customer reviews are playing an important role, and it is affecting consumer confidence.

This concern can be resolved by using Conventional AI for eCommerce platforms.

It is capable of detecting fake review accounts and removes them from reviews records and statistics.

Personal recommendations

E-commerce companies are aiming to provide the best-personalized recommendation experience across multiple devices.

This is possible with conversational AI and machine learning. AI-based personalization uses a multi-channel approach.

It uses in-depth learning to analyze how customers interact with online shopping from various channels (such as websites, mobile apps, social media platforms such as Facebook Messenger, and many more).

With the use of AI-powered ecommerce, businesses can effectively interact and engage with markets and customers with push notifications that help improve the user experience.

From customers, personal recommendations help them to discover the best offer without having to go through several stages.

Voice assistant

Voice is gradually replacing text-based search in retail and eCommerce platforms.

Ecommerce platforms are going with voice assistants that reduce customer effort.

With the use of voice-based virtual assistants, a keypad is not required to search for an item. Just talk to Smart A shopping bots / online shopping assistant, and voice search mechanism will do the rest.

Cyber ​​security

This is another important concern in the online shopping business. Since these platforms (ecommerce and social media) deal with personal data, data security breaches can cause deep trouble for companies.

Artificial intelligence algorithms can transform large chunks of data into smaller chunks, which are easier to protect against breaches and risks.

Virtual personal shopper

A virtual personal shopper can help customers make the right decision about their purchase.

Virtual shopping assistants operate with AI to help customers locate the best and most relevant products and deals.

The use of virtual personal shoppers is a great example of conversational AI affecting the ecommerce industry by disrupting traditional customer engagement techniques.

These are the various ways in which the eCommerce industry is leveraging the progress of conversational AI.

Currently, conversational AI is making waves as before.

In the next 5–10 years, organizations will be differentiated as enterprises using entrepreneurial AI in their business and enterprises will not oppose it.

Now, you choose whether to go for a conversational AI automation approach or a traditional approach?


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