How Is Artificial Intelligence (AI) Reshaping eCommerce?
Do you believe AI could turn your business future-proof? Many do.
One in ten enterprises use ten or more AI applications and 69% of companies say AI & ML is transforming their business – Forbes.
AI adoption might seem a bit early or far-fetching for businesses but the actual fact is that many retailers are already into the AI bandwagon.
However, it is hard for brands to adapt to AI unless they have a clear idea of its real-world applications. This eBook discusses the necessity and benefits of AI in eCommerce to help you decide on where the technology can prove useful for your business.
- The Current AI Scene
- Bigwigs using AI
- How AI is Reshaping eCommerce?
- Visual Recommendation Engines
- Conversational Commerce
- Warehouse and Delivery Automation
- Omni-channel Marketing
- Handling Fake Reviews
Preview the first 3 chapters of the book
Why AI for eCommerce?
Traditional retail commerce relied largely on face-to-face customer handling as people had to walk into brick and mortar stores to buy what they wanted. With the Internet becoming a household utility in the 1990s, eCommerce started to grow in prominence.
eBay and Amazon are the retailers who gained the first-mover advantage by selling goods online. Ever since the birth of eCommerce, the whole retail landscape has undergone a sea change. The share of eCommerce in global retail sales is steadily increasing globally. eCommerce share of total global retail sales is 16.1% in 2020 and would rise up to 22% in 2023 - Statista.com.
The current AI scene
AI has been gaining momentum for more than a couple of years now. Experts predict that the technology will begin to grow at its best pace in the next couple of years. Technology and social media giants like Google, Apple, Facebook, Microsoft, and Amazon are investing heavily in their AI wings.
Big league players in eCommerce and tech giants have embraced AI as the next big digital wave and are trying to integrate machine learning into their products and business processes. However, the shortage of AI specialists persists, sparking the race for acquiring AI startups.
Bigwigs using AI
Amazon, the most inspiring eCommerce retailer, is one of the foremost brands to have embraced AI to improve its internal operations and customer experience, thereby opening up plenty of opportunities for AI’s real-world application.
From smart product recommendations in Amazon.com to voice command based consumer electronics, Amazon Echo, Amazon is integrating AI into every domain it is into. Considering eCommerce alone, Amazon has AI-powered product recommendation engines, image recognition, and much more.
Check out our eBook
A lot of eCommerce companies, though they have the potential and financial strength to adopt AI, are still skeptical about embracing it, thinking it to be a far-fetching tech. If you are one among them, it’s time to know the market scene. A lot of your competitors have already joined the AI bandwagon. Our eBook lists down 5 key areas where AI is already making an impact.Download