The Impact of AI on e-commerce
Artificial intelligence (AI) is changing e-commerce in many ways. With AI tools, e-commerce processes are becoming more streamlined and productive. From finding the cheapest fare to predicting the box-office results of a movie, the impact of AI is huge, to say the least.
There are also many firms offering AI-based tools to business owners who want to improve the business efficiency of their e-commerce stores. These online tools are designed to streamline processes such as marketing, product development, and logistics.
Below are some of the AI powered tools that can help improve business efficiency and increase return on investment for e-commerce stores:
AI powered tool 1: Autocomplete search plugins
One of the goals of an e-commerce website is to boost consumer conversion by providing a simple and fast e-commerce experience to visitors. Autocomplete search is one feature that truly helps in this regard by enabling users to search product ideas that had not even crossed their minds.
AI powered tool 2: Personalized recommendations
Most e-commerce stores today bombard their visitors with many product recommendations. But studies have shown that personalized recommendations have a higher chance of getting repeat customers.
AI tools like Choice.ai and Personali help retailers offer personalized experiences to their visitors. These two tools are particularly noted for constructing personal experiences for e-commerce users by collecting and analyzing consumer data.
AI powered tool 3: Virtual shopping
Virtual reality (VR) is underutilized in the e-commerce industry. While there is hype about it can potentially impact the world, there are some e-commerce stores which have created VR shopping experiences for their consumers. These include Alibaba which created the site Buy+ in 2016. The site lets users purchase products from various stores by wearing a VR headset.
AI tool 4: Influencer Intelligence
E-commerce stores can go beyond search engine optimization and paid marketing. They can also use influencer intelligence to boost conversions. There are now influencer intelligence tools designed to improve return on investment and lower total paid spend.
