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How AI, Chatbots and Voice Commerce are Affecting Ecommerce
Ten years ago, the concept of AI, chatbots and voice commerce seemed like science fiction to most of us. These days we hear about them on a daily basis. Take the self-driving car, digital assistants (Apple’s Siri, Google Now, Amazon’s Alexa), the vacuum cleaner (Roomba), and transport solution (Uber) are a few examples. They are already working in our lives.
One estimate says that by 2020, customers will manage 85% of their relationship with a company without interacting with a human. Should you be concerned if you are an eCommerce merchant? The market competition will be stiff for sure, but the idea behind the technology is to process information and orders faster. AI helps businesses become more efficient and beneficial to their customers.
Layman’s Terms for AI, Chatbots and Voice Commerce
Focusing on building intelligent machines, Artificial intelligence (AI) is the area of computer science that replicates the thought process of humans.
Chatbots are AI systems that interact either through text or voice interface. With voice commerce, consumers can speak to a device rather than typing on a keyboard.
You’ll find examples of chatbots in Facebook Messenger, Slack, and text messages.
They can adapt to any language and dialect depending on the service area. It’s an advantage to eCommerce especially those who handle international requests in a multitude of languages. And it eliminates the dialect and language barriers faced by human agents.
How Does This Technology Affect eCommerce?
AI technology has changed eCommerce and the way we shop online. It affects all areas of eCommerce brand development; including payments, security, logistics, purchasing, inventory management, and fulfillment.
Merchants have tremendous data and analytics at their disposal to instantly promote, upsell, and otherwise market to their customers wherever they are. With artificial intelligence and machine learning, retailers can offer highly accurate customer support without hiring humans.
In this article, we’re looking at AI, Chatbots and Voice Commerce technology and their effect on eCommerce. Let’s look at AI first.
Man Holding Credit Card Using eCommerce AI To Shop Online
AI has improved eCommerce in every area including:
One of the best uses for AI technology has been chatbots. They have enabled retailers to automate the most common questions and responses to help their customers find the right information.
Have you ever called customer service and barely understood what he was saying? It’s one of the main reasons AI-powered “Chatbots” are rapidly replacing human-based call centers. Programmed to answer any question a customer may have; machine learning allows the answer database to grow with every call.
Modern chatbots can adapt to any language including dialects for local service. Other uses for chatbots are:
Just like their human counterparts, chatbots improve over time. There are two significant advantages of chatbots, lower long-term costs, and limitless language capabilities.
It’s just a matter of time until voice commerce is as common as smartphones. Here are some of the ways voice commerce is changing eCommerce:
Of course, voice has its limitations. People buying big-ticket items will want to get close, see it and touch it. But voice will become ubiquitous with people searching from their phones or interactive TVs. With voice activation already showing up on home appliances and shopping lists, it will play a much more significant role in the shopping interface than it does now.
AI has Improved CRM in Every Area.
AI brings a lot to the eCommerce table. For instance, predictive analysis has made it possible for stores to offer shoppers closely related items based on history or current activity. The more history a shopper has with a company, the better the bot can predict and address their needs.
Voice eCommerce SEO teams make the voice systems work easier and safer. We can carry on a conversation with our heads up rather than buried in a keypad. If a shopper abandons her cart, a bot can send a direct reminder that won’t get lost in a spam folder.
With image processing, a shopper can snap a picture of an item (someone wearing a dress, shoes, handbag, etc.), forward it to the store’s bot and get information back about what it is and where they can get it.
Bots and AI keep merchants up to speed on the backend too. Inventory management and fulfillment ensure a quality experience for the shopper and a profitable one for the merchant. Predictive analysis helps match inventory levels with future demand.
In the end, AI enhances both the user experience and improves management controls. Shoppers get what they want just by asking, and retailers can track shopper’s habits to offer targeted goods and services. It’s a win-win for everyone.
To get the most out of AI and all it has to offer, get in touch with Eventide.
References:
https://www.infostretch.com/chatbots-voice-interfaces/
https://uxplanet.org/https-bit-ly-2vpnnsu-2e0c20391078
https://vux.world/the-difference-between-chatbot-and-voice-search-refinements/
Sumeet is endowed with 23 years of global experience reflecting strong leadership qualities coupled with enormous experience & exposure in IT projects’ planning, execution, management, delivery and production support (onsite, offsite and offshore); across e-Business, Client/Server, Custom Application Development, Enterprise Resource Planning (ERP), Enterprise Content Management, Internet based applications, Business Intelligence, Integration packages and Databases. Eminent leadership expertise with exemplary record in driving management methodologies and disciplines spanning estimation, contracting, project planning, risk management, progress tracking & analysis, report and other related factors Well versed in project management methodologies of Agile, Scrum, Waterfall and delivery technicalities of Onsite, Offsite and Offshore model with expertise in translating complex business opportunities into creative, effective and efficient IT solutions, analyzing the client business needs and requirements: translating new ideas into clients’ solutions including opportunity identification, requirements development, delivery, production support & analysis and documentation.
Jayanti, a proactive founder brings more than 21 years of rich industry experience with an insight to provide innovative solutions. A leader and a team player who aims to help an organization achieve its objective through new and innovative ideas. Her spectrum of work varies from IT Education Delivery, Instructional Design and Delivery, content management and development. She understands the need for building collaborative and trusted relationships with the clients. Jayanti exudes remarkable calm, confidence to withstand the challenges in setting the tone for the company’s values, ethics, and culture.
Nidhi has 15 yrs. of experience in Business Research, Talent Acquisition, Client Relationship management, Database Search Tools and Leadership Hiring. She has worked with internal teams and hiring managers in UK, Continental Europe and US geography to assist with recruitment efforts. She has also worked on custom projects in different sectors and industries, involving – company profiling, business overview, business segments, key financial, executive team, board member composition, competitors and other key developments.
She has been instrumental in preparing presentations on the key developments in the business world like Digital Transformation, UK Talent Trends, Digital Age Disruption. She has been involved in working on newsletters pertaining to candidate moves, company mergers & acquisitions and layoffs in US, UK, CE, APAC.
Priyali has around 8 yrs. of product and digital media experience, along with background in Product Marketing.
She has helped publishers in transforming their digital media business and reinvent their digital monetization model with data driven decision making and an effective web and mobile optimization strategy to increase revenue, website traffic, user engagement, and gain competitive advantage.
Through her specialties like Product marketing, lead generation, digital media consulting, web optimization, user engagement, content monetization, product optimization, customer success she has delivered products that are user friendly and provided a unique and consistent value to the customers.
She has worked closely with cross-functional teams, including Product Management, Sales, Marketing, Research, Web development and Design along with customers, to ensure the successful roll-out of new products and new versions of existing products.
Nitin Gupta, Business Development Manager at IvaluePlus has more than 21 years of experience in all aspects of business development, previously working in the F&B domain and has now transitioned his focus to IT/ITES domain.
His key areas encompass increasing the top line of the company by identifying and developing new business areas & opportunities. He is instrumental in leading cross-functional teams, manage existing partnerships, and evaluate company business goals
A proactive, advising, strategic and result-oriented account manager who maintains a strong link between the team & the clientele – stakeholders. She understands client’s requirement & plans out ways to achieve the required business objective. She is a people’s person and keeps thy team going in sync & flow. She dives deep to understand the business severity & aims at deliverables. She has experience in intercultural sensitivity, workforce planning & employment, language skills, Lisha has been instrumental in building company’s human capital capability through keystone involvement and systemic value addition.
Spending almost a decade into Arts & Entertainment industry and now stepping into Human Resources, right from Hiring to Training to Generalist HR, it has been quite a journey for her but it’s all about getting everything together. The motto is to learn, evolve & grow.
Sujeet is an Ambitious and self-motivated with 7+ years of professional experience In Finance. He has done his B.COM & M.COM from Kumaun university Nainital.
He has been instrumental in Financial accounting /Direct and Indirect taxes/ Payroll and Compliance Management specializing in the IT/ITES sector. He posses excellent research and financial analysis capabilities.
Highly capable, versatile and accomplished IT professional who is confident to make the right decisions as per the situation.
His experience encompasses good knowledge of Cisco, Aruba, D-Link, Sophos, TP-Link devices, Setting up of IT infrastructure from scratch to a secure fort, extensive IT management experience, planning and implementing computer systems and networks.
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