Artificial Intelligence And Its Impact On E-commerce
Artificial Intelligence, although still relatively new has changed a lot of industries in a short period of time. Where previously AI has had a huge impact on industries such as finance and healthcare, the benefits of AI are starting to spread into e-commerce. Obviously, as technology evolves the capabilities of AI will continue to expand, but at the purpose of this article is to examine some of the current uses or AI within E-commerce. The reality is that AI could and probably will change the E-commerce landscape forever and companies that fail to embrace the changes could suffer irreparable damage.
Let’s look at some of the ways in which artificial intelligence will impact e-commerce in the near future
Visual Search
Shazam has established itself as the market leader when it comes to identifying a song that is playing on the radio. Anyone can use the app to identify and then order that song to download instantly. No more guessing and trying to sing to the owner of the music shop.
Visual search will take that concept to the next level enabling customers to take a picture of a product they like and then upload it. The AI software will then be able to evaluate that specific product, brand, style, color, etc. and then provide suggestions on alternative products it feels that customer might be interested in. While this might sound exciting and is certainly innovative, it could potentially reduce the impulse buy factor. It could even alter the entire shopping experience, making it much more streamlined and focus than it is today.
Personalization
Although far from perfect, certain online stores seem to have a sixth sense about what you have been searching for, and this is an insight into what is coming In the future. Artificial intelligence provides stores with the capability to learn to your interests, your passions and the triggers which make you more likely to buy products.
Whenever you review a product, return a product or even tweet about it, companies will be able to use that information as a data point, specifically about you. The stores can then use this knowledge merged with Artificial Intelligence to present you with a totally individual, storefront, filled with all the products that will appeal to your tastes. As time passes and knowledge increases the buyer will face evermore temptation when they regularly visit a website.
Virtual Personal Shopper
In a world where many consumers are time poor, the thought of being able to use a personal shopping assistant appeals to many, with the only objections being the cost of seeking their advice.
When that personal shopper is effectively a computer using artificial intelligence, the cost implications will quickly fade away. Of all the technologies and ideas mentioned in this article, this one is perhaps the closest to becoming viewed as the normal. The North Face for example now offers this exact type of system, enabling its customers to use the computer knowledge to choose the perfect jacket for your next adventure.”
Artificial Intelligence is only in its infancy, and yet it has the potential to destroy what we understand as retail shopping today. As technology improves and customers become more accustomed to the personal and predictive aspect of AI, their shopping habits could change forever.
For example, if they know that the clothes they buy from a certain store look and feel fantastic, they could potentially rely on AI to source them a product similar to a picture they provide. Rather than spend the entire day looking for that perfect dress or suit, the AI could solve the problem within seconds.
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