Artificial Intelligence in E-commerce

By CIOReview | Monday, March 26, 2018
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E-commerce was not always considered a credible medium for businesses. However, in recent years, analysis of e-commerce shows its growth in the market share. Gartner’s recent study reveals that Artificial Intelligence will control around 80 to 85 percent of the customer’s interaction by 2020, 67 percent of the survey respondents believe in AI to improve their organizations efficiency and AI is all set to find its position in the top five investment priority for more than 20 percent of the CIOs.

Users must not be confused with multiple systems and touch points, instead should be allowed to interact with the brands to have an end-to-end seamless experience. This is exactly what Artificial Intelligence provides.

AI in Data Analysis

Bringing balance between a customer’s present needs with the company’s current expertise and future vision will improve the organization’s growth and help boost product management. Artificial Intelligence enables enterprises to analyze and structure customer data to perform research, which paves the way to advancement in features and functionalities. Artificial Intelligence helps in evaluating different operations and monitoring them to determine customer happiness.

AI in Prediction

For success in any business, perfect planning is essential. Predicting future trends to pioneer the field and simultaneously balancing the current customer needs will improve the business. Companies are leveraging advanced technologies such as Artificial Intelligence and Machine Learning in data analytics to anticipate the future results with previously collected data.

Understanding Customers Needs

With so many options in the market, customers are perplexed, which creates the problem of choosing the best one. Artificial Intelligence addresses this issue by enabling the business to understand customer pattern and use the result to build a better product that increases customer satisfaction.