Artificial intelligence is quickly becoming a widely used tool to provide more efficient and personalised customer service.
FREMONT, CA:Shopping has significantly changed as the world depends more on technology. Nowadays, individuals can shop from the comfort of their homes, owing to e-commerce, which has replaced the practice of physically going to a store to make a purchase.
However, the rise of conversational commerce powered by AI is poised to transform even online buying.
Artificial intelligence is increasingly spreading throughout the retail industry as a tool for more effective and individualised customer care. According to a new Juniper Research report, AI-powered chatbots will likely handle 70 per cent of consumer chats by 2023, playing a crucial role in customer engagements.
This highlights the increasing reliance on solutions that are powered by AI to enhance customer interactions and produce a more seamless purchasing experience. Imagine speaking with AI-powered virtual assistants that can guide them to the exact item they're looking for, provide suggestions based on previous purchases, and carry out the transaction. By offering individualised, convenient, and more effective service, conversational commerce powered by AI seeks to transform the way people shop.
The AI-powered Conversational Commerce Advantage
Deep machine learning, conversational AI, and natural language processing algorithms have all made significant strides in the last ten years. Users of conversational AI assistants like Siri and Amazon Alexa have grown accustomed to using this technology, which has improved the ability to retrieve information.
Conversational commerce enabled by AI seeks to further individualise the purchasing experience. A customer's preferences can be learned by AI helpers with access to a lot of data, making it easier to locate things they would adore.
Traditional e-commerce platforms, which rely on generic product recommendations, have a limited capacity for personalisation. Advanced chatbots and machine learning models built on natural language processing (NLP) can improve customer experience (CX) and eventually help organisations have a higher return on investment (ROI).
Consumers favour experiences above things in growing numbers. Customers will value the ability to access the experience provided by owning a product or enjoying service remotely, with low friction. Firms will need to optimise for discoverability via voice search and virtual assistants like Alexa and Google Assistant as consumers grow more accustomed to discovering and buying goods and services through voice and chat interactions on smart devices.
Conversational commerce backed by AI will also speed up shopping. During the product discovery phase, customers can ask the chatbot for recommendations or specific product information. A customer's preferences and wants can be learned by the chatbot's deep
learning algorithms, which can then offer appropriate products based on previous purchases and browsing activity. Providing pertinent options helps clients find new things they might be interested in and save them time.
When a customer locates the goods they desire, they can use the chatbot to add them to their shopping basket. Additionally, the chatbot can aid the consumer in making any essential decisions by providing information on product availability, pricing, and shipping alternatives.