In the last year, the eCommerce industry has expanded by over 25 percent, and this boom is projected to continue. With such a wealth of eCommerce businesses, and competition set to become even more fierce, staying visible and relevant has never been such a challenge for online retailers.
The advent of artificial intelligence (AI) has made competing in this crowded marketplace possible — even for small eCommerce businesses.
Intelligent deployment of AI tools such as natural language processing (NPL), machine learning (ML), and data mining allows companies of all sizes to attract and retain customers with the minimum of input. Here are ten ways in which AI can help eCommerce businesses.
1. Virtual Personal Assistant
While this may not sound like an obvious place to start, research shows that the use of a virtual personal assistant (VPA) is rated as the most impactful AI tool by 31 percent of business executives. A VPA is a never-sleeping, never-tiring assistant who makes use of NPL to understand human speech and respond or take action as required. This is useful both as a time-saver for executives and as a tool for customers.
2. Customer Service
By next year (2020), 80 percent of all customer interactions will be handled by AI. Chatbots are fast becoming an indispensable tool in customer service; as a replacement to call centers, they are significantly cheaper and more efficient. 67 percent of consumers have used a chatbot for customer service in the last year. This remains a tried and tested AI tool based on NPL and ML techniques. Chatbots can be integrated into shopping carts, online support, and order processes.
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