Artificial Intelligence is “A core transformative way by which we’re rethinking, how we were doing everything.” It boldly walks across eCommerce and consistently revamps the world. Do you agree with this?
While some people say AI is taking over human jobs, it has evolved to provide marketers with the key to success and improve their eCommerce marketing efforts. Artificial intelligence can assist you in doing the jobs that you couldn’t have imagined.
Artificial Intelligence, an imagination that once assumed futuristic, is nowhere. The smart businesses have realized that it’s not an optional tool in this ever-emerging techno-enabled world and started leveraging AI to improve the customer experience.
So, can we say Artificial Intelligence is the real game-changer in the eCommerce industry? Though AI is a unique concept that integrates with all the modern technologies, it is rapidly transforming the eCommerce industry.
According to a report by Statista, nearly 2 billion global buyers were estimated to participate in eCommerce activities in 2020. The tally was expected to reach more than 2.5 billion by 2022. It caused an upsurge in demand for online goods, and to meet this demand, the companies needed to be creative and change the way they were reaching online audiences.
Analysts assume that by 2020, almost 85% of the customer relations will be managed through artificial intelligence-based chatbots or virtual assistants. However, the online traders will need to understand the searcher’s intent to improve their customer services, ultimately improving the customer experience.
The eCommerce industry, backed by AI, has taken to the new dimensions to satisfy the customers worldwide. If you’re still confused about how AI is changing the eCommerce search, this blog will explain how artificial intelligence is revolutionizing eCommerce.
What is AI-powered Search & Ecommerce Search
A great search engine is all about providing users with the most precise results. Modern search engines are expected to be smart, advanced enough to understand the nature of customer queries, and the user’s demand and context. AI-powered search engines rely on the latest machine learning techniques to integrate with search engines that steadily learn from the users, accordingly your services, to drive more domain-relevant intelligent search.
AI helps eCommerce businesses understand patterns from unmanaged data sets and allow them to provide a personalized experience. Here is how artificial intelligence is empowering the eCommerce industry.
1. Rise of Voice Assistants and Voice Search
With the rise of voice assistants and voice search, Artificial Intelligence has shown the potential to improve eCommerce website accessibility and user experience through voice assistants.
With a wide range of products & services and more information, AI-based voice search enables customers to use natural language to minimize manual efforts, streamlining it to accomplish tasks.
Technological advancement has made voice assistants and voice search highly effective with AI. They are now offering robust voice recognition experience while the AI aspect overcomes all the challenges like unwanted sound and accent.
2. Site Search
One of your online store’s essential factors, an eCommerce site search, is a search engine that is normally integrated into your eCommerce website to provide the users with the precise results to their queries. Artificial Intelligence has changed the eCommerce search as well. Therefore, here at Unbxd, we leverage the machine learning model “Named Entity Recognition” (NER), which categorizes each query to turn it to the path to the desired attributes and return with the most relevant search results with the utmost accuracy. It is beyond the standard text-pattern matching techniques. Site search is more than just the search bar. It refers to refined search, product ranking, and relevant keywords (Synonym) management.
3. Instant Search
Google’s instant search completely relies on artificial intelligence and has transformed the eCommerce industry quickly. It leverages google’s autocomplete technology based on machine learning to show nearby search terms in a drop-down box while typing keywords. The searches will become visible below the drop-down. Instant Search is revamping the eCommerce industry by dynamically updating the SERP – including organic or non-organic shopping and sponsored links.
4. Chatbots Are Improving Sales and Customer Services
The power of AI is unpredictable because the effects are immeasurable. Artificial-Intelligence-based chatbots enable you to address the targeted audience and sell your products to the right person without delay. There is no wonder that almost 84% of all eCommerce businesses will start using chatbots by the end of 2021.
Modern online stores have to deal with the millennials, who hate waiting to connect to actual customer care executives or sales representatives when they call a company. Therefore, companies are using AI-based chatbots that are quick and efficient at dealing with customer queries. With the advent of AI-powered chatbots, the average waiting time has lowered from 11 minutes to 40 seconds and is expected to reach below 10 seconds.
5. Utmost Security to Customer Data
In order to be a Trusted CVV shop, One of the biggest responsibilities for eCommerce stores is to keep their customer data safe & secure. At the same time, online stores are prone to be hacked or come across any cyber attack. Therefore, they need to be extra careful. Thanks to artificial intelligence that helps improve the security of your customer database.
With the integration of deep learning and Artificial Intelligence into security solutions, eCommerce websites can prevent common network issues and spam from securing customer data.
Artificial Intelligence holds power to revamp eCommerce websites’ overall performance, and straight-thinking retailers leverage advanced technology to great effect. Harnessing the AI’s predictive capabilities, online retailers strengthen their relationships with customers by offering a personalized experience. Here at UNBXD, we help you get a higher conversion rate through Machine Learning and AI-powered site search. Our AI and ML algorithms monitor the purchasing behavior and self-optimize to help shoppers reach the right product they want to buy. You can explore our site search optimization services for eCommerce here.