Artificial Intelligence (AI) used in business implementation has increased by 61%. AI allows you to personalise the customer experience and is something marketers will continue to explore in 2019.
The AI train shows no signs of slowing down. The hype that accompanied 2018’s AI developments will continue to grow in unprecedented ways. AI has revolutionised business in its ability to streamline tedious, non-strategic tasks and analyse our data. It’s being implemented in all industries, but none more so than the e-commerce world where AI is completely redefining the customer experience. In fact, a Business Insider Study recently predicted that as much as 85% of customer interactions will be managed without humans by 2020. That’s only a year away!
In a time where the virtual marketplace is exploding, competition is rife. People are increasingly looking for a personalised experience when they are online. Not only is AI technology easier than ever to implement, it’s also becoming an expected component of any online business. AI is here to stay, here’s what we think the year has in store:
Arguably essential in any ecommerce business, Chatbots are programmed to communicate with customers in a personalized way. Chatbots mimic human interaction and in some ways replace the need for face to face customer service altogether. With data-retention capabilities humans can only dream of, Chatbots are programmed to answer product enquires, check availability and assist with payment. 2019 will see Chatbots extend their interaction capacities to engage even more effectively with customers. Chat to one of our AI specialists to make sure your Chatbot technology is up to date.
AI technology improves the accuracy and flexibility of search options and results. AI technology is not only leading customers to their searched product, but enables shoppers to explore complimentary products. Recommendation Engines are becoming more sophisticated and can examine consumer patterns making them able to anticipate their needs more accurately. 2019 will be the year of customer-centric searches. Businesses will be able to create these customer focused experiences through advanced image and video recognition. The latest AI software automatically organises and visually searches content by labelling features of the image or video.
AI technology helps businesses to make decisions and more accurately predict sale patterns and trends. Using Recommendation Engines works to cross sell your products and give your customer a more personalised experience. It also compiles data on your customers behaviour that may be invaluable to your business. It can provide insights into your target demographic and what people are looking for. This can assist with forecasting and price optimization. These algorithms continue to progress at lightening speed making the predicative abilities more specific and detailed than ever before.
AI is set to dominate the business market in the coming years. By 2020 it is predicted that 80% of all businesses will have implemented some sort of AI automation. Leveraging AI technology for your business has never been easier. Here at One Stop Media we offer comprehensive plans to ensure your business is AI-compatible. Enquire today to learn more!