How Ecommerce Platforms Use AI As Recommendation Engines And Chatbots

by Neha Sharma Digital marketing head

E-commerce has been using AI or Artificial Intelligence more and more, with the advance of time, and development of technology. According to reports, a study in Business Insider had said, ‘more than 85% of customer interactions will be managed without a human by 2020.’ 2020 is here; it is time we took a look at how E-commerce can utilize Artificial Intelligence. This could give you an idea of how to augment the profits and ROI of your company, too.

A look at how E-commerce Platforms are utilizing AI.

Recommendation Engines

On the basis of the activities and preferences of the users that have been taken note of, Recommendation Engines identify and recommend digital items or content for users.

Recommendation Engines are brought into use for

·         E-commerce

·         Video Streaming

·        Customer Profile

Recommendation Engines can provide relevant, timely suggestions – for instance, on which piece of jewelry, fragrance, garment, or gift item people can purchase next; or which movie to watch, which destination to visit, which song to hear, and so on, so that their shopping / browsing experience feels completely personalized.

Recommendation Engines can boost online sales in numerous ways:

·        By inspiring visitors with the right recommendations

·        By offering personalized purchase suggestions to visitors and customers

·        By retaining customers through efficient service

·        By producing reports

·        By prompting more revenue

In today’s times, it is getting almost mandatory for E-commerce companies to provide their visitors and customers with ideas and items that seem absolutely customized for them.

Chatbots

A Chatbot is an Artificial Intelligence software simulating a chat -- in a natural language -- with a user; over websites, telephones, messaging applications, or mobile applications.

Chatbots are expected to be the number one consumer application of Artificial Intelligence in the next five years.

Chatbots are capable of:

·        Presenting a company with occasions for boosting operational efficiency and increasing customer engagement.

·        Enhancing customer experience through streamlining the interaction between people and services.

·        Reducing the cost of customer service.

As per a sproutsocial.com report:

·        56% people prefer texting to calling up Customer Service

·        53% people are in favor of shopping with businesses that they can text

What customers expect from Chatbots:

·        Quick response

·        Clear, detailed answer

·        Efficient problem solving

For fulfilling such expectations, an ideal Chatbot has to possess certain characteristics like

·        Advanced Conversational Capacity

·        CRM Integration

·        Pre-configuration

·        Emotional Intelligence

·        Autonomous Reasoning Capability

·        Freedom of Exploring Data

You can specifically design Chatbots to

·        Engage Users in Unique Ways

·        Lead Users to Better Results

·        Generate Leads and Revenue

·        Provide ‘After Hours’ Support

·        Save Time and Money

Chatbots – owing to their versatility and popularity -- are getting integrated into business operations in various ways.

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Created on Feb 28th 2020 23:37. Viewed 405 times.

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