Technology continues to advance every day, birthing to new developments like AI. AI, or more commonly known as artificial intelligence, is the creation of software that can replicate human behavior. AI belongs to computer science and has always been a matter of interest to people’s imagination.
With its daily progress, it is no wonder that e-commerce or digital marketing is also affected. Well, in a good way, that is. From interacting with loved ones to browsing online for new items, AI makes it possible to keep you comfortable and at ease. Artificial intelligence can now do the job of gathering data, talking to customers and sellers online, and so much more.
In 1956, the term “artificial intelligence” was first coined in a conference room at Dartmouth College in Hanover, New Hampshire. According to Live Science, “the AI officially took off in 1997 when IBM’s Deep Blue became the first computer to beat a chess champion when it defeated Russian grandmaster Garry Kasparov.”
In 2014, a talking chatbot from IBM fooled judges during the Turing Test, a test that determines an AI’s overall intelligence. However, this turned into a controversy due to the experts claiming that only a third of the judges were truly fooled. Many also speculate that the Turing test is not the true measure of an AI’s intelligence.
On the other hand, experts believe that this could be just the start of the AI’s power. Its opportunity to gain human-like intelligence is still in reach. With the help of intelligent technology, we can revolutionize the online world as well as everyday life.
And this is where we talk about digital marketing or e-commerce, one of technology’s biggest advancements. The ability to provide services online proves to be a great help for many entrepreneurs. From custom websites to virtual assistants, there are countless ways to provide excellent customer care.
According to Sachin Dev Duggal for The Economic Times, “AI has the ability to gather and analyze information in real-time, helping brands identify consumer behavior patterns and ensuring their strategies are dynamic enough to engage users and generate high conversion rates.”
Nowadays, AI has embedded itself into our daily lives. From home security to talking to friends and family online, artificial intelligence makes it easier. However, it is not only us who get to enjoy the benefits of AI. It is actually e-commerce that flourishes from it.
Online businesses use artificial intelligence to cater to customers, keep inventory, and so much more. Companies that utilize AI software in their system will find an increase in productivity and growth. Why? Because it automates processes and aids human counterparts effectively.
Aside from that, it is no secret that business success lies within an effective e-commerce strategy. According to PSD Center, “Effective e-commerce is all about sticking to fundamentals, and that’s being relevant.” This is most effective, especially when you want your clients to access your services as well as their preferences better.
So now, let’s jump into the ways AI can transform e-commerce.
The Importance of Personalization
Knowing your customers’ behavior is the most effective way to provide them with their needs. However, this could be challenging without the proper strategy. Aside from search histories, purchased goods, and site navigation, engaging with your prospects is also vital.
According to ReadWrite, “AI holds the ability to provide a deep understanding of customers at an individual level. Enabling you to connect with the right customers at the right time, gives you a 360-degree view of your customer and improves your ‘predictive e-commerce marketing’ strategy.”
Here’s how it can help you:
- AI utilizes algorithms by keeping track of your visitors’ browsing data.
- Through algorithms, you and your fellow marketers can keep up with the necessary information (e.g., activities, interests, dislikes).
- Once the data has been grouped, you can now send your demographic messages, notifications, and other promotional data they might enjoy.
With human-like behavior and reasoning, AI can assist with customer service. Like virtual assistants, artificial intelligence can help answer customer queries, concerns, as well as provide factual information. Examples of such virtual assistants are Siri and Alexa.
Here are some ways virtual assistants help you:
- Arrange schedules
- Create grocery lists
- Check the weather, traffic
- Control home devices
- And so much more!
AIs are proven to be very beneficial in terms of saving time, money, and workplace drama.
Excellence in Customer Service
According to experts, 25% of customer service operations are automated by using chatbots or virtual assistants. And with the main focus of making customers satisfied with your services, it is crucial to provide unparalleled customer support. However, not all companies have the workforce to answer customer queries at all hours of the day. Thus, this is where virtual assistants come in.
- AI chatbots can help you with the following:
- Answer queries real-time
- Chatbots provide your consumers with 24/7 customer service wherever and whenever.
- Virtual assistants are capable of holding a conversation with your customers.
- Reduce workload
- Keep a record of FAQs as well as similar requests so that they can provide rapid solutions
- Reduce the chance of errors
Having AI software to help you with your business is cost-effective and profit-friendly. According to Juniper, companies will save up to $8 billion on customer support costs by 2022 because virtual assistants can reduce customer service costs by 30 percent. By using a chatbot, you get access to several perks, such as a revenue increase and cost reduction.
Self-Learning Machines Yield Better Results
AI chatbots make continuous interactions into learning experiences. When a chatbot makes continuous interactions with customers, “it learns from every iteration and self-tunes itself to provide relevant solutions.”
Artificial intelligence familiarizes itself with client requests, conversations, purchases, and navigations. Through these data, it can direct the right promotions, offers, notifications, and messages to the right customers at the right time.
Artificial intelligence is a massive help to various fields. Its wide range of capabilities can help ventures succeed. From healthcare, finance, retail to entertainment and marketing, AI is more than qualified to reduce obstacles and other challenges online and offline.
So what are you waiting for? Consider getting AI software for your business today!
Louise Savoie is Digital Marketer at Proweaver, a web development company specializing in Custom Website Design which helps sole proprietors and small companies increase their sales and grow their business. I am responsible in Content Marketing and Social Media Marketing. You can find us on Facebook: @webdesignproweaver and on Twitter and Instagram: @proweaver