Artificial Intelligence (AI) is not sci-fi; it is a reality shaping many businesses and industries today. It powers the most impressive innovations in recent decades, and it is ruling information technology. E-commerce and retail are not exempt from its benefits. In fact, marketing, digital or traditional, has become so dependent on it to the extent that competition among brands has just turned up the pressure.
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Still not convinced of the ubiquity of AI? You can turn to your home gadgets. Smart TVs, refrigerators, watches, and other devices compile the data they collect so that the internet can interpret the behaviors and habits of potential consumers. Much of AI relies on the Internet of Things, and marketers use data from such to optimize the performance of their platforms. Online retailers, then, can count on AI to point them to the direction of a potential online client at the speed of a click.
The speed with which AI compiles and interprets data also defines market offerings. Its very large database will be the basis for improvements in and developments of products and services. Brands purveying the same goods can leverage analytics to differentiate themselves. Of course, all these will occur on platforms such as visited websites and social media. In many cases, AI can even penetrate chat apps through chatbots and gather data on market preferences and behaviors from there.
Online retailers then should be aware of the wave of AI integration occurring in retail at the moment. Speed has become the name of the game, and it needs to be integrated into websites and other platforms where purchases and product selections occur. It is telling that today’s e-commerce websites cannot be powered by basic Web Dev, but an AI website builder.
Moreover, the biggest tech companies such as Facebook and IBM are pouring money into AI and counting their dollars by its smarts.
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Image source: PsychologyToday.com
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Abhishek Gattani is the head of search at Walmart Labs and the founder and CEO of Cuberon. He spearheaded the launch of Walmart’s “Polaris” search engine, which currently powers many of the company’s e-commerce products globally. For more updates on the world of e-commerce, visit this page.
