Artificial Intelligence seems to be buzzing across the globe and there is no doubt in its popularity. The way it is revolutionizing all the verticals of the businesses is giving a new shape to all the future technologies to expand furthermore. When everything seems to be changing then how can the Magento e-commerce lag behind? As digital transactions are becoming a definitive method to purchase the goods and services, leading eCommerce organizations are trying to explore how AI can help them to enhance brand awareness.
AI is already being incorporated into our daily lives and we cannot rely upon without it any single day be it virtual assistant in your mobiles or smart home devices. The concept behind the research and development of artificial intelligence is based on identifying the behavioral patterns of the end-users, data analyzing with AI programs automatically and facilitating quiet yet meaningful solutions for the users to achieve their desired goals without human intervention.
When we talk about eCommerce, the top one million e-commerce stores among Alexa are powered by Magento which easily makes it the most used eCommerce CMS across the globe. With such a Magento recurrence for the piece of the pie, Magento is being a trendy expression for the designers hoping to make AI-based eCommerce arrangements.
In this article, we will be looking at some facets of AI which you can use to enhance the customer experience of your e-commerce store.
The Impact of AI on Magento stores
Machine learning and its ability to design the experimental data by making use of the Neural networks that boost the AI Bots by providing effective customer support solutions that aren’t only cost-effective but helps to resolve the issues faster than a human brain. The AI-enabled chatbots help to handle all the first level queries like FAQs by automating responses to the basic customer queries and decreasing the chatbot handling time.
The most imperative piece of any E-commerce store is Product Searchability. To make the most out of it, the search bar is the primary spot where a client searches for when he is looking for a particular item. Keeping in mind that the Magento has some great Search augmentation, they may be nothing when contrasted with the AI-fueled solutions. The purpose for it depends upon the keywords which are entered by the client and just when there is a right coordinate, your pursuits are going to dispense the right indexed lists. Then again, AI-based searches are looking for the setting of the hunt as opposed to simply depending upon the catchphrases. Such AI arrangements use the capacities of the Natural Language Process to register the words and AI-based searches are producing increasingly significant indexed lists dependent on the setting of the pursuit term as opposed to the keywords.
Fraud detection and Prevention
While e-commerce is proving to be a revolutionary development for all retail businesses to expand their outreach with minimal online threats. It is thought to prevent online fraud which is spreading through remote channels as compared to in-person fraud. By combining the security standards of Magento with machine learning, we are able to address multiple business challenges which seems to be time-consuming and expensive. Such AI-based solutions allow reducing manual review queues with the help of fast iterating machine models. It also helps to reduce false positives with the behavioral analysis and incorporates human decision-making with an accurate prediction.
Potential Customer Experience
The implementation of Artificial Intelligence is viewed as pivotal in Magento and is the buyers who focus on the correct clients with the right messages at the opportune time. It is nearly impossible for a human to manage and gove personal suggestions for even a handful of customer-based behavioral and historical data. Moreover, the AI programs rely upon a self-learning algorithm that is powered by Machine learning and cognitive computing for deconstructing big data of the consumers and target potential customers to enhance their user experiences
Virtual Assitant to Make a Purchase
Whenever a user visits any online eCommerce store, they seem to be confused about the choice they make or cannot take an appropriate decision when it comes to selecting among the items. To resolve this, Purchase Assistants is not fully released but yet the store managers can expect to see it in the upcoming years. The assistants can anticipate that it should investigate and screen the online business stores for up and coming deals, price changes, or launching another item. Furthermore, it will likewise add the items to the cart and play out the checkout procedure for your sake on the off chance that you have indicated enthusiasm for an item as indicated by the offered directions to your AI-controlled assistant. Virtual assistant combined with Magento can take over old newsletters and alert emails by delivering the real-time push notifications and perform the purchases on behalf of the shoppers so they do not miss the deal.
An average shopper is estimated to carry their mobile phone for most of the time of the day and one of the most useful features for mobile devices is its camera. Even a budget smartphone can take great photos by allowing the users to snap anytime anywhere. By making use of this ability, AI is all ready to exploit the commerce and users by allowing them to click images and search for the same or similar products on an instant basis. Google’s Assistant is ready to determine the person, object or location from the images with accurate precision and it will no longer surprise you if you see similar capabilities in an e-commerce store for searching out the products.
The Future Ahead
Major eCommerce brands are pulling off the advantages of artificial intelligence to their advantage. As an eCommerce store owner, you should not trail behind and now its the right time to embed AI as a part of your business strategy on the Magento platform. Till then – keep learning!
Shira Gray is working as a Business Development Executive at WordPress Development Company – eTatvaSoft.com. She writes about emerging technologies. Being a tech geek, she keeps a close watch over the industry focusing on the latest technology news and gadgets. For more information about the company, you can visit here.