Unless you have been burrowed deep underground for the last couple of years, you’ve most likely heard of artificial intelligence (AI). But how can we use artificial intelligence in eCommerce? In this article, we share powerful and practical ways that retail businesses are using AI in the world of online shopping.
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. It’s widely anticipated that AI is set to go into turbo drive in the next couple of years with giants such as Google and Microsoft already investing heavily into new AI initiatives.
Google’s recent £400m purchase of start-up DeepMind, the artificial intelligence company that specializes in algorithms and machine learning for positive impact, is just one of many expected acquisitions as the potential of such technology becomes a reality.
Other major tech firms such as Facebook, IBM and Yahoo have already publicly expressed their focus on developing artificial intelligence as a new source of business. If you search for AI online, you will stumble across hundreds of articles that predict a marketplace dominated by the use of artificial intelligence. In fact, a recent study by Business Insider suggests that as much as 85% of customer interactions will be managed without a human by as soon as 2020.
Many eCommerce businesses are already using forms of AI to better understand their customers, generate new leads and provide an enhanced customer experience.