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New tech trend of 2018: AI and its benefits for eCommerce

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Nowadays we face different changes which are connected with eCommerce. And one of the most important is the usage of Artificial Intelligence. It is popular now not only in eCommerce but also in everyday life simplifying the lives of people. But how it can be useful for your business?

The significance of AI in eCommerce is evident because it helps you survive among huge eCommerce companies like Amazon. Moreover, there is no matter if your business is small or huge and what your budget is. Using Artificial Intelligence you will:

  • improve user experience;
  • increase your conversion rate;
  • get an efficient sales process;
  • automate your work;
  • optimize the platform.

Benefits of Artificial Intelligence

Here are the main benefits which you will get using Artificial Intelligence for your online business.

1. Automation

With AI you can automate many processes because it is really necessary for simplifying the whole workflow. So, there will be no need to publish new products on several channels, schedule sales or apply discounts to customers manually. Marketing Automation is intended to cope with repetitive tasks which occur when your company grows. It is better to devote your time for improving customer experience with the help of technology and algorithms.

2. Chatbots

You can spare your money by using chatbots for communication with your clients instead of staff which consists of people who answer the phone calls a great number of times every day. They are powered by Artificial Intelligence and is a great variant for you to provide customers with 24/7 service.

Chatbots deal with sending information for customers which is related to orders, resolving various issues and interacting with customers every time they need it. Moreover, a chatbot identifies the certain products for every client which can be useful for him paying attention to his previous purchases. In conclusion, a chatbot helps you not only in automating order processes but also in improving the user experience.

3. Dynamic Pricing

Again, another time-consuming job is changing prices. It doesn’t matter how many products you have it always takes much time. But with Dynamic Pricing, you can automate it. Using AI, it sets the prices for every product taking into account multiple data points like your inventory, capacity, market conditions, customer behavior, and demands.

4. Fraud Prevention

There are some subtle patterns and variations which are escaped by the human voice. But AI can detect them and prevent. It always analyzes every transaction in order to make sure that the right person makes the purchase on your eCommerce website.

5. Optimized Search

With the help of Artificial Intelligence, you will get the list of preferences and needs of your users because AI remembers it for future predicting and understanding what your customers are looking for. Such intelligent searches give you an opportunity to provide your clients with optimized search options.

6. Personalization

With AI it is also easier to conduct different personalized marketing campaigns. For example, knowing the needs and preferences of your customers, you can make for them special product recommendations or deliver personalized advertisements on their email addresses.

7. Social Listening

It is important to know what people are talking about on various social media networks because it helps in improving user experience and creating products. In order to understand every customer better, you should know what is his feedback: whether positive or negative and what are his expectations. Artificial Intelligence also enables it.

Conclusion

All in all, AI is a necessary thing for every eCommerce business. Thanks to it, you can both attract and retain your customers. There are many other advantages of it but the biggest one is that you can simplify your work and sell faster.

Myroslava Lukashuk

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