The future of E-commerce: Personalization and AI will change the way we shop online
Anyone involved in e-commerce knows it is an environment that is constantly changing and upgrading as technologies improve and companies battle against each other to get a greater piece of the pie.
The future of ecommerce is uncertain, but some things remain constant — delivery times will improve, customer service will get increasingly better, and product selection will become ever greater. But how might the future of buying online actually look from the customer perspective, and what should you be implementing in your own business over time to stay ahead of the curve?
PERSONALIZATION
Greater personalization and a better customer experience will be the holy grail for ecommerce businesses in the future, as it becomes increasingly difficult to secure customers against a backdrop of ever-increasing competition. Customers will eventually flock to those offering as close to the in-store experience as possible, and major ecommerce retailers are already striving to make things more personal and more tangible on web.
ARTIFICIAL INTELLIGENCE
The next step for ecommerce will be the use of AI and sophisticated algorithms designed to find the absolute optimum. It’s all maths anyway — whether it’s optimising your sales process, or choosing the statistically highest converting design for your website. By developing systems using these algorithms, which are designed to effectively test, optimise and repeat on loop, ecommerce will move into an even higher level of sophistication as this technology improves.
Personalization and the use of AI are just two major trends the team behind BehaviourExchange had predicted 4 years ago when they started to work on their marketing product.
BehaviourExchange — personalized offerings in real time
BehaviourExchange is an intelligent system that identifies each online visitor by their demographic characteristics and interests. The system is able to recognize visitors the exact moment they enter a website, which enables it to provide a personalized experience to each customer and show them content that suits their age, gender, education, interests and other characteristics. How does it work? Check out the video:
The BehaviourExchange platform uses sophisticated AI-based software to analyze Big Data, create user profiles and adjust the content of any website according to the predicted interests, wishes and needs of a visitor in real time. User data is securely stored in a blockchain network and transactions are carried out using a dedicated utility token called BEX.
To learn more about the project, visit the official BehaviourExchange website and follow the team on Telegram and Facebook!
