How Artificial Intelligence (AI) is Impacting the E-commerce Industry

Artificial Intelligence has already become a trending topic among tech enthusiasts. Many tech giants like Google and Amazon are spending millions of dollars on this immersive technology to enhance the user experience. Whether it’s Apple’s Siri or Amazon’s Alexa or even Tesla’s self driving cars, AI is almost everywhere, including the e-commerce industry as well.

While as surprising as it may sound, but AI is helping e-commerce businesses to grow exponentially. From helping customers make better shopping decisions to analyzing customer behavior, AI can benefit the e-commerce industry in many ways.

Moreover, AI has the potential to transform the traditional e-commerce web development process through customized development methodologies. If you also own an e-commerce website, integrating AI can help you provide customers with an exceptional user-experience. Take a look at the following points which explain the impact of AI in the e-commerce industry.

Automatic Repricing

The prices of products on e-commerce websites needs to be changed from time to time. When we have thousands of product pages, manually updating each page is completely out of the picture. This is when AI comes into the picture. With dedicated algorithms, the product prices automatically fluctuate based on the product demand and available discounts.

Stock Update

The last thing a customer expects from your website is an item going out of stock during the time of checkout. Complex algorithms can also keep a track on the inventory status to check the availability of a particular item. As a result, whenever only few units left for a particular item, the merchant automatically receives a message to update the stock.   

Customer Behavior Analysis

Customer behavior analysis is one of the biggest benefits of AI. Many e-commerce giants like Amazon and eBay use AI-based algorithms to track customer’s digital footprints. As a result, these websites build highly customized email marketing campaigns to reach customers with products that they like. This eventually improves the overall conversion rate of the website.

These are three of the benefits of utilizing AI for your e-commerce business.

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