The power of AI online: is artificial intelligence here to stay?
From using face ID to unlock our phones to seeing what TV shows Netflix recommends, AI is now a significant part of our day-to-day lives.
Artificial intelligence, or AI, can be used to automate simple tasks and give us valuable insight into how people think. As a result, eCommerce businesses are using it to their advantage.
So, how can you use artificial intelligence to grow sales and amplify your brand? Here are some of the ways you can adopt it online.
1. AI-generated copy
If you haven’t got the time to write blogs, landing pages, and sales copy, artificial intelligence can help you out.
There are several AI programmes available online that claim to create sharp, convincing content that customers love.
The jury is still out on whether AI-generated content is good enough to replace human writers, especially on technical websites where a deep level of knowledge is required. However, even if a 1,000-word blog is out of the question, AI programmes can provide you with a good starting point.
2. Product recommendations
We all know that personalisation is the key to making more sales. Over half of retailers advise that customised product recommendations are critical when it comes to increasing average order value.
AI makes it easier for businesses to suggest the right products to the right customers, looking at their previous web visits and orders to identify items they might be interested in.
In the past, businesses might have used segmented audiences to determine which products to show to who. Now artificial intelligence lets you drill down to individual preferences.
Live chat has been a staple of many websites for several years. However, the introduction of chatbots takes things to the next level.
A chatbot is an AI-driven programme that can hold a conversation with web users without the need for human intervention. It does this by analysing customers’ language and providing an appropriate response.
The benefit of chatbots is that they can provide customer support at all times of the day and night and free up your customer service team for other tasks. However, it’s important to have someone on standby in case a user has a question your chatbot can’t answer.
4. Data analysis
In the past, data analysis involved poring through thousands of Excel spreadsheets and writing lengthy reports that management never read. AI can now be used not only to collate and present the data, but provide recommendations and customer insight.
As an example of a tool already doing this, take Google Analytics. The platform uses AI to answer your questions and let you know if a specific channel is performing better (or worse) than usual.
So, what can you use AI for regarding data and insight? You can use it to:
- Forecast online sales and seasonal trends
- Recommend how to improve your online marketing
- Identify competitor price changes
- Find threats like negative reviews, fake products, and IP breaches
The benefit of AI is that it can be used to go through large amounts of data from several different sources. This means you can factor in several years of information to improve and optimise your processes.
Our thoughts on AI and eCommerce
Artificial Intelligence has come a long way over the past few years, and from an eCommerce perspective we find it absolutely fascinating.
According to the UK Government, 15% of businesses have adopted at least one AI technology, and this figure is set to grow in the not-so-distant future.
Many people worry that AI is going to take their jobs. While it’s estimated that AI will replace 85 million jobs in the next three years, it will create 97 million jobs in the same timeframe. As a result, trainers, data scientists, and business analysts will all be needed in future years.
Digital processes grow and evolve all the time. Think back 20 years ago when web 2.0 was introduced to the world, and people started using Wikipedia, social media and blogs. At the time over half of companies said they were worried that the new technological advancements would negatively affect them. Now in 2022, we all use these technologies every day.
It’s better if we work with AI and accept the advantages it can bring, rather than work against it. Think about the benefits it can bring to your business, and the time you can save as a result.