Tomorrow is already here
When it comes to the possibilities and possible perils of artificial intelligence (AI), learning and reasoning by machines without the intervention of humans, there are lots of opinions out there. Only time will tell which one of these quotes will be the closest to our future reality.
AI is beginning to embed itself into all aspects of our lives. From the growing number of self-checkout cash registers to advanced security checks at the airport; artificial intelligence is just about everywhere.
With giants such as Google and Microsoft already investing heavily into new AI initiatives, it is anticipated that AI will be the centre of attention in the near future. Google’s recent £400m purchase of start-up DeepMind, the artificial intelligence company that specialises in algorithms and machine learning for positive impact, is just one of many expected acquisitions as the potential of such technology becomes a reality.
Fusing this technology with e-commerce heralds the beginning of something new and exciting. Many e-commerce businesses are already using forms of AI to better understand their customers, generate new leads and provide an enhanced customer experience.
Read on to know how they’re doing this.
BRIDGE THE GAP BETWEEN PERSONALIZATION AND PRIVACY:
Nowadays, users are more comfortable with sharing their details on the promise that they are getting something truly valuable in return. Various brands are actively striving to take transparency, security and honesty to an entirely new level. For instance, if you give Google Now to access your account, it will sync your calendar, emails and search habits bridging the gap between personalization and privacy of the users.
CREATE A CONSUMER CENTRIC SEARCH:
The artificial intelligence, being available to developers or businesses of any size or budget, gives businesses a competitive edge. An example being Pinterest’s recent update of its Chrome extension. It enables the users to select an item in any photograph online, and then ask Pinterest to surface similar items using image recognition software. Artificial intelligence is also enabling the shoppers to discover complementary products whether it is size, colour, shape, fabric or even brand.
IMPLEMENT VIRTUAL ASSISTANTS:
Some of the virtual assistants that introduced to us the idea of talking to a phone, laptop or even a household appliance are Siri, Google Now and Alexa. The advantages for virtual assistants are rooted in natural language processing and the machine’s ability to interpret what people are saying in words or text. For example, by using Alexa on Amazon’s Echo device, customers can discover local gigs for the upcoming weekend, arrange transport to and from the event via uber, or even order a pre-event dinner.
RETARGET POTENTIAL CONSUMERS:
How can artificial intelligence be used to enhance a consumer’s shopping experience?
Well, various businesses have started using facial recognition to capture customer dwell times in the physical stores. This means that if a customer spends a notable amount of time next to a specific product, then the information will be stored for use upon their next visit. It is as if the businesses are reading the minds of their customers.
People link the term ‘artificial’ with something negative or dehumanized, but it is difficult to overlook it’s countless pros in favour of its many cons.
AI is revolutionising the entire e-commerce industry in ways we couldn’t have imagined a few years ago. It has come and taken the entire world by storm, kicking out obsolete technologies, and making everyone’s lives easier.
AI makes it possible for e-commerce retailers to analyse millions of interactions every day and ultimately target offers down to a single customer — an experience every marketeer dreams of providing.
Scared or excited? Whether you’re a regular online shopper or an experienced online retailer, we’d love to hear your comments below on how AI is breaking into the world of e-commerce.
