Artificial Intelligence has transformed modern-day businesses big time. Routine tasks and processes have been automated. Smart systems have replaced humans, bringing down glitches and errors.
Improved productivity, operational efficiency and reduced chances of errors are some other factors pushing entities in various verticals to confide in AI.
Ecommerce too has a lot to benefit from the revolutionary side of AI technology.
Global ecommerce is $2.8 trillion market already. By 2021, retail sales will reach $4.5 trillion, which is almost double the current market size.
Mobile platform, which emerged as an extension to ecommerce, now drives it laterally. Nearly 59% of all sales were made on mobile last year.
AI simplifies several touch points for e-tailers. Customer relationship management is easier than before. Customer interface is more optimised, inducing buyers to stay and potentially buy. Predictive analysis helps in managing inventory and fulfilling timely orders.
What’s more, the marketing side is assisted too. AI driven big data analytics is more accurate. For example – push notification is a major tool for retailers to communicate with customers. Instead of sending first stage exploratory messages, how about sending factual messages that are first validated? This gives them a better chance to target their needs more closely. Isn’t it?
Like I said, both the platforms, web and mobile need to be synchronized simultaneously. In fact it is also necessitated by the way most ecommerce sites are designed today.
Small retailers mostly use mobile app extensions on their stores because having a stand alone app is relatively expensive.
Enterprises have already started deploying AI tools in most of their functions. For start-ups and small businesses, it will take some time but they are sure to embrace it in due course. Such is the ecommerce warfare today!
See this wonderful infographic on top AI trends for m-commerce in the coming months –