Open AccessArtificial Intelligence – A Revolutionizing Factor in E-Commerce
Author(s) -
Prof. Saravanan K and Pooja Shri K
Publication year - 2020
Publication title -
international journal of modern trends in science and technology
Language(s) - English
Resource type - Journals
ISSN - 2455-3778
DOI - 10.46501/ijmtst0609s03
Subject(s) - product (mathematics) , business , analytics , service (business) , insider , marketing , customer service , e commerce , computer science , world wide web , data science , geometry , mathematics , political science , law
The future of industries is currently more dependent upon its presence on online platforms. This onlinepresence not only visualizes, promotes, or advertises your brand but also helps in gaining huge customers.Also, customers are now gradually turning their interests towards online shopping which are easier,time-saving, and more personalized compared to the conventional practice of visiting physical stores. So oneof the most popularizing and crucial tools used by e-commerce brands to attract people is through theirartificial intelligence services. AI is constantly changing and updating the world of e-commerce in terms of itscustomer service and experience. Effective utilization of AI can aid in identifying concealed insights, trendforecasting, and beneficial financial decision making. AI has influenced the traditional way of replenishmentand merchandising by simply using data analytics to indicate which product has to be replenished andwhich has to be discounted. According to a recent report of "Business Insider" predicts that about 85% of thecustomer services will be handled by AI-powered bots which can immediately respond to calls, chats, andemails with almost no human intervention. This paper encompasses the various AI tools empowered by thee-retail brands to attract their customers, the various ways by which AI influences both the retailer and thecustomer, and successful e-retail brands that employed AI for their advancement. In addition to this, thepaper discusses how AI is going to dominate the e-commerce venture in the near future.