If you are in the e-commerce industry, then artificial intelligence (AI) is a vital part of business. According to IBM, AI “leverages computers and machines to mimic the problem-solving and decision-making capabilities of the human mind.” AI transforms the shopping experience for the user by nudging people to purchase items, showing them how certain products will look in their space or on them, sending people targeted sales information, and so on. With artificial intelligence at the forefront of your e-commerce business, you can achieve tremendous success in the industry.
Artificial intelligence (AI) can improve the success of an e-commerce store because it mimics human action, thus allowing “someone” always to be present. By implementing AI into your business strategy, you will see improved workflow and efficiency. Here are three ways you can boost your e-commerce store with artificial intelligence.
Online store owners can boost sales with artificial intelligent recommendations. By providing customers with recommendations for products, your chances of upselling and cross-selling increase. Often, customers are willing to purchase other items if you suggest the right ones to them. Imagine the “in-store” experience where the salesperson knows the customer quite well and shows them the products they know they would like. That is an example of how artificial intelligence can benefit a business.
Amazon and many other platforms have leveraged artificial intelligence to make recommendations to customers, and they’ve seen an increase in conversion rates.
Image via Unsplash by Igor Miske
Virtual assistance comes in the form of chatbots or digital assistants. These AI assistants can be at your online store 24/7, helping customers with issues. Chatbots are extremely capable and are learning more every day. Some of the functions they can include:
Answer simple questions about products.
Provide information about shipping and returns.
Give personalized feedback to customers.
Connect customers to a live agent when necessary for further sales information.
Virtual chatbots are also improving at recognizing voice-based interactions.
Maintaining a sufficient inventory is essential to keeping the store operating at maximum efficiency. When your inventory system is efficient, you can seamlessly fill customers’ demands. AI ensures your stock is at the proper levels — not overstocked but enough to meet customer demand.
Artificial intelligence management helps you maintain the right amount of stocks by collecting data and using it properly. Some of the information AI can collect and use include:
Sales data from previous years.
Projections for product demands, including any changes.
Possible supply-related issues that could impact inventory levels.
Find Out More About AI
With the widespread use of AI in e-commerce, it is essential to understand how to leverage it for optimal value. You can enroll to take an artificial intelligence online course and learn the basics of AI technology, how it applies to your industry, and how to make the best use of it for success.
Taking a course on AI can help you meet the challenges and opportunities of the industry and create an AI strategy that will be most effective for your e-commerce store. Find out more about how AI is the way of the future in e-commerce today.