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AI is revolutionizing the landscape of business, commerce and so many aspects of our lifestyle. From the way, we handle gadgets to the way that kids play with toys. This evolution has been brought about an onset of drastic changes in the field of e-commerce store & customer relationship management. AI has a notable impact on the way of e-commerce businesses engage and retains shoppers with the capabilities of hyper-targeting each customer, personally. Here we take a look at some of the possibilities of how AI could shape the future of e-commerce.
On the ongoing pace, e-commerce businesses are taking advantage of the visual search capability of AI technology to look for an object they want to shop. Earlier, most of the shoppers have used a text-based search in a search field instead of that, with AI, shopper only need to submit an image in the search field to analyze and get a match to that image.
Neiman Marcus is the one among the e-commerce store who has influenced the market with the visual search. Neiman Marcus store makes use of the visual search capability of enabling app users to search photos of objects in the real world, to find matching ones in the Neiman Marcus catalog.
Visual search offers convenience over keyword search to find sizes, color, proportions and shapes, even text to identify product names and brands. Shoppers just have to put a picture of what they like in the search bar. The visual search leads to faster and more accurate outcomes through all the possible priorities and matches. Visual search and image recognition boost the keyword search in a very contextual way to search deeper.
In addition to using images, shoppers now avail the advantage of voice search to find products they want to buy. Using speech, it facilitates the search for the product. Voice search makes use of AI to recognize what is spoken and to get higher quality at recognizing phrases and voices.
Voice search brought into vogue with voice assistants like Siri and Alexa, which has made it imperative for ecommerce merchants to re-optimize their pages in order to easily handle the voice-based searches. AI voice-based searches often deliver results in more sensible, structured form rather than in keyword form.
With a virtual Shopping assistant, AI voice-based searches enables shoppers to have an interactive real-time voice conversation on the e-commerce platform. Optimally, it can give more personal and human touch to the online shopping experience which will increase customer engagement and retention.
Amazon’s voice-controlled home automation Bluetooth speaker, Echo, now empowers users to make online shopping by using voice search technology. Shoppers can place orders through voice with device integrated with Alexa technology.
With AI, personal shoppers can take advantage of the personal fashion assistant. Through personalized recommendations, on the basis of their preferences and past usage patterns AI technology curate products a shopper would like, without having to do any of the work manually.
The virtual assistants will send push notifications or prompts when prices drop to let the shoppers know there is a price change, hence increasing the footfalls on the site, leading to more successful conversions. Online personal shopper technologies like Shoptagr and Mona, will use big data, collected in real time, to “learn” customers shopping behavior and preferences.
Brands are now turning to machine learning to enhance search results for shoppers . Machine learning can enhance search results each time a customer purchase from a site. It enables the site to sort, search results by relevance by generating a search ranking, instead of keyword matching.
To offer better search results eBay is using machine learning. eBay harnesses the unique capabilities of AI and big data to analyze and display the most relevant search results from a vast collection of the product list.
With actionable insights, Machine learning makes the e-commerce platform best suited for their customers and come up with the most relevant offers, campaigns, strategic messaging etc.
Artificial neural networks are a kind of AI that attempts to recreate how the human brain behaves. With the help of neural networks, retailers can able to to take the data they get based on ad performance, to get to know why those ads aren’t working.
Because neural networks can understand from experience, predict trends, and recognize patterns. Predicting the performance neural networks has the capability to understand on what tactics customers reacted to in a marketing campaign, and what should be eliminated and re-structure.
Harnessing the power of AI, online retailers can able to offer shoppers a better products, services, as well a personalized experience. AI will also maximize brand’s marketing efforts while cutting down the unnecessary utilization of money on inefficient ad campaigns.
AI potential has been utilized by e-commerce companies across the world to minimize shopping cart abandonment, optimize the conversion rate and automate processes. In addition, Contextual Messaging and Predictive Intelligence can also be used to extract maximum business from the new and existing set of users of the e-commerce platform.