Artificial Intelligence and Commerce – the best is yet to come!

AI is completely changing the landscape of everything that it touches. Some brands are using this emerging tech to transform their businesses. They experiment with video or ad copy. They even use AI to refine their ad platforms for better targeting. But AI can do a lot more than just this.

AI can completely transform the way customers engage with a brand’s mobile and web interfaces. And brands from various industries stand to benefit from this particularly the travel, hospitality and retail sectors.

A key benefit of AI is in the realm of data – AI can sift through humungous amounts of data and help improve our understanding and use of it. When used properly, it will help make the discovery and the purchasing process far more precise and quick. And when visual content and natural language processing is combined either in a chat or search scenario, it results in a highly contextual and personal experience. Even in group settings and multi-customer activity, AI can centralize the purchasing process on a single interface.

Broadly speaking AI can effortlessly handle data mining, natural language processing, and machine learning.

Data mining – the collecting of present and old data and the processing of it to make informed predictions.

Natural language processing – this is about human-computer interaction and how computers interpret natural human language.

Machine learning – this uses a set of algorithms to apply historic data, past experiences etc. to solve a problem. It is about using rules to understand all the data.

Amazon is a great example – Amazon uses machine learning in many ways to ensure there is an optimization of the process of product selection, user experience and logistics.

Increased conversions – to put it simply.

To elaborate, AI can dramatically change things around for brands in many ways.

Broadly speaking it can help brands -

This list can go on…

Artificial intelligence empowers businesses in many ways to help them offer highly personalized experiences for their customers. It can help brands sift through mountains of data and help them analyze hundreds of transactions and interactions. And finally send relevant offers to individual customers – that surely is the dream!

Sales teams are empowered with all kinds of data and information that will help them personalize the sales cycle through AI-driven applications. It will help them send the right people, the right message at the right time.

AI is something that will dramatically change commerce in the coming years. The impact is truly enormous and hugely beneficial. It will change how brands engage their customers and how customers find the brand’s products too!

It will soon reach a point where, without AI, a brand cannot really survive in the Commerce space. It is as simple and as important as that!