Wednesday, March 24, 2021

The Role of Artificial Intelligence in eCommerce Industry

Artificial intelligence in e-commerce offers interactive services to retailers and to online shoppers, provides customers with reliable and specialized shopping experiences, and recommends products that are uniquely suitable for each customer.

AI-enabled systems provide chatbot services, scan customer preferences in real-time, analyze customer feedback, and provide appropriate product recommendations.

Artificial Intelligence in eCcommerce
The Role of Artificial Intelligence in the eCommerce Industry

Artificial intelligence in eCommerce

In recent years, we are witnessing the confirmation of Artificial Intelligence (AI) as a tool to improve business processes. And eCommerce, which after all is still a digital native, has been one of the great drivers of this transformation and adoption of AI.


Artificial intelligence (AI) tools or business intelligence tools improve your business processes, provide more information to your sales team and improve customer recommendations with items frequently bought together or bought as an alternative.


Most likely you are already using AI in your business, perhaps without being aware of it.

Many of the third-party tools and external services that we integrate with our eCommerce platform are already based on the use of artificial intelligence to solve some of the problems that arise. For example:

The recommendation systems allow you to offer your customers the products that may interest them based on factors like their purchase history or behavior in one 's browsing session.


The internal search engine helps your users find products most direct way by describing some of its features text.


The chatbots enable your customers to experience a conversation with a human (either by text or voice) when what is behind is a software program capable of interacting and responding to some of the most common questions often to have.


The different applications of Artificial Intelligence in eCommerce contribute to building a better customer experience in the purchase process.

AI-enabled systems provide chatbot services, scan customer preferences in real-time, analyze customer feedback, and provide appropriate product recommendations.

 

Without a doubt, including AI technologies in your electronic commerce has many benefits. 

If you are determined to implement AI, you can start by looking for a service provider that is in charge of handling it. Especially if you do not have an expert in the field within your team, although it is recommended that they begin to train.

Evaluate what your eCommerce needs and in which areas you want to implement artificial intelligence. For example, if you want to use them in customer service, payment management or logistics.

As your business grows, you can move from using standardized services to looking for customized solutions.

We are just seeing the first advantages of artificial intelligence. Its potential is much higher and, as time goes on, it will become essential for business. Thus, starting to use it from now on seems to be the most natural step.


Developing Artificial Intelligence Strategies in eCommerce

The first thing we need is to establish a strategy (however minimal) that defines the elements and processes necessary for us to be successful from the beginning. 

To create an Artificial Intelligence strategy in eCommerce, you must take into account the following elements:

 

Alignment with the product and business strategy: Identify areas that could benefit the most from using Artificial Intelligence.

 At a minimum, it is convenient to analyze the current state of your product or service and the internal processes that you follow in your company at the level of logistics, operations, marketing, or even human resources, etc.

 

Cross-cutting implications: Identify barriers that may prevent the application of AI in other areas of the business.

For example, its application related to technology state and legal issues is usually typical.

 

Selection of first product: Usually, the first steps in internal developments are very delicate and determine a great deal of continuity.

For this reason, it is important to first choose products that have an impact but are relatively simple. That is, quick wins that serve as a cover letter for the company and generate confidence and trust.

 

Team building: Here we already have the same possibilities as in any other type of project.

But, in general, there are not internal profiles that have enough experience and knowledge to create teams to develop ML-based projects. 

For this reason, it is important to determine whether you will fully or partially address the team-building process.

 

Internal and external communication: It is important to properly convey the value of these types of projects and what can be expected from them. Most company profiles have very little knowledge in this regard.

For example, an investor needs to know how Machine Learning is going to help the business grow. 

A Sales Manager will have to know the sales expectations with the application of the new tools. 

The marketing team will need to understand that development processes and times work differently.

The Human Resources team will need to understand the motivations of the profiles required for this type of project. 

 

At this point, the process to define the strategy to implement Artificial Intelligence in e-commerce can be overwhelming. This occurs both because of the apparent complexity and, above all, because of the initial ignorance. Therefore, my recommendation to approach it is to do it little by little.

If your online store is just starting out or is still young, the tools available will allow you to focus on what is important: selling and building loyalty.

And if you consider that your business is already mature to develop internal tools based on Artificial Intelligence, but you have never done it, experience tells us that it is not necessary to spend a lot of time creating a whole strategy at the beginning that we do not even know if it will work for us.

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