By Utkarsh Gupta, Managing Director, Ramagya Mart
New Delhi, October 05, 2021: If you are active on any of the digital platforms these days, especially the social media platforms then you would have definitely come across product/service upselling by multiple brands on your page. These product recommendations, for instance is driven by Artificial Intelligence (AI) technology.
Companies have gone full throttle with AI implementation in their backend programming, with the help of automated technology, processing large amounts of data within few minutes to provide business-based insightful information. AI has already changed the landscape of e-commerce sector in India.
Using natural language processing to narrow, contextualize and basically improve the search results for the online shoppers to create a better shopping experience, AI is creating a strong competitive edge for businesses driven via e-commerce. AI tools have been developed to create aggressive re-targeting campaigns, thereby not missing any prospective customer. From helping identify a prospective customer, to answering online queries, conversations via chatbot and re-targeting, AI driven e-commerce is the future, which is happening now.
The pandemic situation created by Covid-19 has given a big fillip to the e-commerce sector in India. From buying groceries, medicines to home appliances, there has been a tremendous growth in this sector which now has become the new normal. Many big leaders have disappeared from the market while many digitally transformed their businesses. Digital agility created by such transformations and enabled further by AI is going to improve the product offerings, service delivery and bring up the satisfaction score of the consumers. The e-commerce industry has started accelerating the technological revolution and started establishing its presence in the virtual world where we have seen more launches of websites, application and other digital portals which are AI enabled.
The virtual world never shuts down and is open 24×7 and customers can now shop any day, at any time as per their convenience, and expect availability and dedicated service from the organization’s customer support team. AI is an important way to deliver the attentive 24×7 service that shoppers now expect.
With predictive marketing on the fingertips, AI powered platforms are able to forecast buying decisions by observing their buying patterns and evaluting the consumer buying journeys. With advanced features as voice or facial recognition interfaces help in understanding the customer better to push products which induce buying, post understnding user experience. With real time data being made available the personalisation of these online purchase are made available and easy to track.
Supply chain management has become a vital strategic opportunity to keep organisations competive and this statement has taken even more precedence due to the pandemic. Since e-commerce sector has a tremendous dependency on a robust supply chain management, AI technology facilitates delivery to the consumers as per the dedicated time. In supply chain delivery, every mile and minute matters, therefore automated systems have accelerated traditional warehouse procedures. The details of the customers, drivers, and vehicles have been submitted to the machine, which then uses algorithms to create the most optimal routes and thus make timely delivery. Inventory management has become more complex due to real-time pictures of the available items in the inventory. With the help of AI, it delivers many advanced solutions to inventory managers and allows them to manage the process more efficiently.
AI and e-commerce is match made in heaven and AI in e-commerce offers umpteen benefits in building a robust business eco-system and will be the only way e-commerce companies can survive, grow stronger and remain competitively ahead.
Corporate Comm India (CCI Newswire)
