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Artificial Intelligence - Shaping the Future of E-Commerce
We have all heard or read about the spring of artificial intelligence (AI) across literally all verticals. But what is the significance of artificial intelligence, anyway? And what does it have to do with marketing and E-commerce? A lot of people in the marketing sphere think AI technology only as an engineer’s area of interest, but the truth is, development of AI technology is crucial in the marketing game too!
Future of E-commerce
Machines being able to learn and improve their performance are undoubtedly a huge boon to e-commerce. With all the transformations and AI research going about in today’s digital era, it all boils down to how effectively machines can automatically handle marketing tasks to free up time and energy for marketing personnel.
The increasing competitiveness in the online marketplace has driven e-commerce to become more saturated. In the world of AI, machines not only complete projects but also learn while they work. This allows for the exponential growth of efficient automation in the marketing space. Therein lays the key. Today, building a website can eliminate hiring a web designer and expenses to support that project. Instead, marketers only need an AI website builder to construct suitable sites based on customer data within mere minutes. It is no surprise that customer data management is important for business analytics. With the help of AI, marketers can seamlessly collect, organize and analyze the data, taking online marketing to the next level.
So what exactly is this next level of marketing? As we already know, the internet is where most of the devices today are interconnected, making our lives easier. E-commerce shops are able to offer round the clock customer support and collect valuable customer data for future enhancements. With a network of smart devices and Internet of Things (IoT), marketers can leverage AI and machine learning to study and track customer behavior for seamless brand continuity. The introduction of automated chatbots has paved the way for e-commerce retailers and sites to bolster conversion rates by tailoring online customer experience. But all of that customer data remains unsupported without sturdy inventory management and customer relationship management (CRM) systems.
AI technology can be programmed to consume incoming data and convert it into valuable customer information. From stocking inventory and website customer engagement to maximizing conversion ratio and increasing customer spending habits, there is nothing AI cannot do. With this, the days of aggressive re-marketing and numerous ads will be long gone. Ultimately, AI technology is stepping up the game by bestowing e-commerce platforms with the ability to cater to the needs and interests of visitors faster.