How Can You Reshape Your Traditional E-commerce Business With AI? by FuGenx

11/25/2019

How Can You Reshape Your Traditional E-commerce Business With AI? - USM

How Can You Reshape Your Traditional Ecommerce Business With AI?  November 15, 2019

 usmsys (https://www.usmsystems.com/author/usmsys/)

 Arti cial Intelligence (https://www.usmsystems.com/category/arti cial-intelligence/)

(https://www.usmsystems.com/how-can-you-reshape-your-traditional-e-commercebusiness-with-ai/) In every industry, AI is playing a signi cant role. The e-commerce industry is not exempted from this digital transformation. It is also gaining momentum with AI technology. Online retailers with the help of AI are better understanding their client’s needs. AI tools for e-commerce allow digital marketers to o er personalized shopping experience to customers. https://www.usmsystems.com/how-can-you-reshape-your-traditional-e-commerce-business-with-ai/

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AI and Machine Learning (ML) together drive the performance of e-commerce at a greater level. Using ML algorithms, service providers can analyze their customersâ&#x20AC;&#x2122; behaviors. They can also create customized deals and provide recommendations for the buyers. Thus, AI helps to win the engagement of the clients with faith. Market researchers are predicting that AI will dominate the traditional processes in the next couple of years. You wonder that over 85% of customer relations will be engaged by AI virtual assistants, robots, and machines. However, many e-commerce enterprises have already started implementing AI as their new revenue business source. These companies are better understanding their customerâ&#x20AC;&#x2122;s behavior. Thus, they are providing enriched online shopping experience and generating sustained leads. As a result, companies that use AI remain competitive in the industry in the future. In this article, we explained the most powerful ways of using AI in e-commerce. I hope that this article will be useful for startups and existing retailers who not started their AI program yet. Letâ&#x20AC;&#x2122;s start!

1. Introduction of Virtual Assistants/Chatbots Arti cial Intelligence helps online retail brands in providing a unique experience to buyers. The online stores should build a strong communication channel to engage their customers. This could be easy for o ine retail stores, as the customer and shop assistant can directly communicate in in-store shopping. The customers can select the products, and they may ask about speci c products directly to shoppers. But these kinds of perks are limited in online shopping. E-commerce companies should come up with e cient business strategies to beat this challenge. Hence, this trend has introduced AI virtual assistants into the e-commerce market. Many e-commerce leaders like Walmart, Amazon, and Flipkart have major AI projects to provide smart e-commerce services to their millions of customers. They are implementing virtual shopping assistants to provide buyers with the best o ers and products. In addition, these virtual assistants are used for improving the mobile shopping experience. Hence, businesses believe that AI-powered virtual assistants ensure a big transformation in the ecommerce industry.

2. Intelligent Agent Negotiation Systems https://www.usmsystems.com/how-can-you-reshape-your-traditional-e-commerce-business-with-ai/

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How Can You Reshape Your Traditional E-commerce Business With AI? - USM

These innovative AI-powered systems are popular in the e-commerce industry. The AI systems are used to connect sellers and buyers, to ease transactions, and to provide standard infrastructure. AI-based agents are fully automated and authorized to perform human-like functions. Since these smart agents generate targets with previous experience, they are very much useful for e-commerce rms.

3. New Pricing Strategies Customers are always disappointed with product prices. Hence, retailers need to use the best pricing structures to manage their customers. Here, the innovative Assortment of intelligence comes into the picture. Assortment Intelligence is a set of tools used selling products at an a ordable price. In addition, this assortment solution is used for tracking the inventory and product supply of your rivals. Thus, according to the product demand in the market, you can quote a product price and get maximum bene t on your online sales.

4. Improved Security Maintaining the security and privacy of user credentials while doing online shopping is a major challenge for retailers. So, as a retailer, how can you handle this challenge? As a leading AI services & solutions provider, USM Business Systems (/e-commerce/) suggest that AI is the best option to improve security levels. AI is not only used for improving user experience, customer retention, personalization, and satisfaction, but AI tools are also used for protecting buyer’s information. Therefore, AI enables online retailers to build a bridge between personalization and security of user’s data. And remember, the more security you provide to customer’s data, the more trust you receive from them.

5. Wearable Technology Products Captures More Traffic Nowadays, customers are mostly using their androids and smartphones to browse on the internet. Thus, mobile is the primary source to grab the attention of users than other channels like emails and web. The wearable technology-enabled products help e-commerce companies to collect the customer’s data when they search for a product. This data is useful for understanding customer preferences and search patterns. Based on the insights into the data, retailers can provide recommendations on desired https://www.usmsystems.com/how-can-you-reshape-your-traditional-e-commerce-business-with-ai/

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How Can You Reshape Your Traditional E-commerce Business With AI? - USM

products to their buyers. Are you looking to update with the technology? We appreciate your thoughts. Build your new partnerships with the best AI service providers (/application-development/ai-services-solutions/) to stay ahead of growing competition.

6. Use Conversational Systems Investing in conversational AI systems helps e-commerce companies to respond to customers quickly. Speech recognition systems and Natural Language processing systems are becoming popular in the market. The AI, ML, and deep learning techniques are widely using for developing dialogue systems. These systems can convert speech to text. The conversational systems give an automated and quick response to userâ&#x20AC;&#x2122;s queries related to products or services. Hence, these AI-powered systems open new opportunities for e-commerce portals to better engage their buyers.

7. Detects Fake Reviews Filtering out fake product reviews one of the major challenges that e-commerce companies face today. The purchasing decision of buyers will change with the negative views of a product. Thus, negative reviews a ect product sales a lot. But, nding such fake reviews not that easy to do manually. Here, Ai can help service providers. AI machines and tools can lter the veri ed user reviews and keeps them up-to-date to generate sales.

8. Prevents Dummy Sales When you do online shopping, you can see the replica of brand products. Those counterfeit products might be the same in look, but they operate inadequately compared to the original brand. As an online retailer, how can you ght with dummy products? AI solutions using ML algorithms can identify fake products and assist retailers in realizing how buyers are searching for their original products.

9. Customer-Centric Solutions

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How Can You Reshape Your Traditional E-commerce Business With AI? - USM

AI allows search engines to operate exactly like humans. The customers may be frustrated if the products are not matched with their search. To handle this issue, many e-commerce companies are using natural language processing techniques to provide accurate product results to buyers. Thus, AI used to develop customer-centric solutions that ensure pro table business for the long run.

10. Never Loose Potential Buyers Improper management of customer data may give negative sales results. Sometimes, your sales team may or may not manage prospects e ciently. This will reduce sales and impacts your nancial results. But, AI can help you to overcome this challenge. Intelligent AI apps improve your sales cycle. However, few businesses are using facial recognition systems to capture the faces of customers who spent more time on a speci c product. Based on their interest in a particular product, AI tools can automatically display special o ers on their computer screens. This strategy doesn’t let your potential customers go on shu e.

11. Intelligent CRM Systems AI-powered CRM systems are widely adopting in the recent past. This AI-based software brings businesses and potential clients on a single platform. Using NLP and speech recognition, AI systems allow CRM systems to respond to customer issues. These multi-purpose CRM systems will be useful for the e cient management of customers. A CRM software is highly deploying by wide industries. Just have a look at the signi cant bene ts of a CRM solution:

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keeps track of the potential customer’s data

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Wisely captures customer emails

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Insights into customer data

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Lead retention

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Reduces manual e orts

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Increased lead conversion rate

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Customer satisfaction and personalization

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Marketing ROI will be improves

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Finally, ensures increased sales revenues

https://www.usmsystems.com/how-can-you-reshape-your-traditional-e-commerce-business-with-ai/

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How Can You Reshape Your Traditional E-commerce Business With AI? - USM

Conclusion With the help of AI in e-commerce, online retailers can enjoy all the above bene ts explained in this article. Use AI solutions, implement intelligence strategies, and build your way of doing digital business in this competitive world. Partner with USM Business Systems (https://www.usmsystems.com/) to shine your e-commerce business! We are always eager to do work for businesses like you. Connect Us Today!! (/contact-us/)

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