Artificial Intelligence has become a part of the ecommerce world now. The goal is to improve online business management, as well as to give customers an experience that is closer to in-person shopping. This helps to not only boost sales and serve customers in a quicker, more efficient way, but also to decrease a fraction of the daily workload. AI usage in ecommerce has a lot of benefits beyond the ones already mentioned above, some of which will be covered here.
The Advantages of AI in Ecommerce
The most common forms of artificial intelligence in ecommerce today are chatbots. These chatbots are robots programmed to answer questions from customers on the website product pages, for example. To interact with the customers and serve them precisely, these chatbots are equipped with every information possible, as well as with the ability to evolve as the number of interactions grow.
Firstly, chatbots have become great tools for client satisfaction and overall ecommerce success, reportedly solving 80% of the issues customers arrive with. This satisfaction is even bigger on online retail stores where the level of chatbot acceptance is up to 34%, higher than in any other industry. Also, adding these robots makes it possible to offer 24/7 customer service while still saving time and money because chatbots can help businesses save up to 30% on customer support costs.
Secondly, developers have found that the purchase probability is 3 times higher when an AI answers the customer in less than 2 minutes. Consequently, a higher purchase probability brings more chances of revenue increase and that is the goal for every business whether big or small. It is a scenario where everyone wins. The business is enabled to reach its full potential and all 68% of consumers who like chatbots because they provide quick answers get the service they need.
Predictions for AI in Ecommerce Businesses
Using artificial intelligence is becoming more frequent in the ecommerce world. The fact that 67% of global consumers had an interaction with a chatbot over the last 12 months is proof of that. Moreover, usage of this technology as a brand communication channel increased by 92% since 2019. All this data makes it possible to say that using AI in e-commerce is set to become the norm, instead of just an innovative business practice.
It was previously mentioned here on the blog that there was a record of investments on AI startups in Brazil last year, due to the incredible recent growth of this industry. Latin America is obviously keeping up with this new era, with Brazil at the front as it usually happens. As a company with experience on tech projects, the fact that AI usage in ecommerce companies is standard now is fascinating to us. We are eager to help our partners shine in this new era of the ecommerce industry.