APPLICATIONS OF ARTIFICIAL INTELLIGENCE (AI) IN E-COMMERCE AND INVENTORY SERVICES - News4u95

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Tuesday, July 20, 2021

APPLICATIONS OF ARTIFICIAL INTELLIGENCE (AI) IN E-COMMERCE AND INVENTORY SERVICES

Applications of Artificial Intelligence (AI) in E-Commerce and Inventory Services

As online retailers grow, so does their competition. With their many offers and product discounts, retailers compete to expand their competitive edge. AI can be a new weapon for online retailers.

 

Applications of Artificial Intelligence (AI) in E-Commerce and Inventory Services
Applications of Artificial Intelligence (AI) in E-Commerce and Inventory Services

Applications of Artificial Intelligence (AI) in E-Commerce

Personalization provides customer-specific customization of their journey to the online retail website based on user information stored and stored by the website, such as the user's location, browsing history, device and operating system, and time spent by the user on each page. The more a user interacts on a website, the more relevant the personalized experience will be. It provides timely messages and alerts that may be to the user's liking. Depending on user data and knowledge of how to use it, online retailers can change their website interface, send notifications about the most sought-after products or what users have seen but not purchased, and set time limits on highly desirable products.

 

On the online retail website, AI-enabled personal assistants can answer simple customer questions, tell customers the status of the order, or find a product from a list that matches the customer's product description. Chatbots respond quickly and take less time than human reporters, increasing user retention through reminders and suggestions and increasing sales opportunities through a personalized approach thus reducing time for feedback.

 

Image recognition among users of online retail stores is a big hit as it helps reduce customer travel and helps customer’s checkout as they find what they want. Connected home applications have changed the types of purchases. Voice assistants like Alexa, powered by AI, can perform purchase tasks such as adding or removing items, checking items on the cart, checking, rearranging previous orders, reviewing shipping status, and checking product availability.

 

AI content generating tools help to create product descriptions for their selection. AI can counter fake reviews on online retail stores because fake reviews sometimes prevent users from buying the product.

 

Applications of Artificial Intelligence (AI) in Inventory Services

AI-powered technology can provide accurate information that can be used in sales estimates, which is a serious disruption opportunity. Having the ability or technology to accurately estimate stocks sold on a particular date and using product sales background information helps to properly manage inventory and save on high costs. Such planning is necessary, especially if items such as vegetables and transport tickets can be destroyed, which will be in vain if they are not sold within a certain period of time. 

 

AI can help the sales department make decisions by providing information on parameters such as the most popular and least popular items in a given period, the products that can be promoted on a particular day, the impact of sports and cultural events on sales. , And the possibility of a short-term turnover understanding.

 

 

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