Integration of AI into e-commerce: relevance, benefits, prospects

Artificial Intelligence helps eCommerce companies to operate efficiently in the market, increasing their productivity and profits. AI in eCommerce products helps optimize all processes, including customer interaction, creating personalized offers, and automating inventory management.

In this article, let's talk about how AI tools can help maximize the potential of your business and ensure long-term success.

The relevance of AI integration in the eCommerce industry

At its core, artificial intelligence (AI) is the ability of a program to perform tasks that would normally require a human mind. It does this by loading data into it, which the system sorts through, identifying patterns, correlations and trends. Then it analyzes them and produces results, based on which the user makes a decision.

If we talk about AI in eCommerce products, artificial intelligence is presented in the form of different programs and tools that help companies in the following tasks:

• optimizing business processes;

• analyzing users' actions and, based on this, creating personalized offers taking into account their interests;
• processing large amounts of data, predicting trends and customer behavior;
• improving customer service by introducing chatbots, voice assistants and other tools that can answer users' questions in real time;
• analyzing the market, competition and demand to make the right decisions and maximize profits;
• detecting suspicious transactions and behaviors, preventing fraud and enhancing the security of the e-commerce platform.

This is a list of the main, but by no means all, possibilities of using AI in the eCommerce industry. AI technologies are actively developing, and every day there are more and more interesting and necessary products and services in the field of eCommerce.

Benefits of using AI in the eCommerce industry

To better understand the benefits of AI in eCommerce, let's take a closer look at popular tools that can be leveraged in business.

AI to improve conversions

OptiMonk AI is an eCommerce AI platform created for marketers who want to increase website conversion rates without hiring a team of experts. Its main tool is Smart Personalize. It instantly identifies a customer's interests based on their Google queries, and tailors the landing pages they open to them. This increases the chances of getting the user interested in the product, and hence making a purchase.

Other interesting features of the program include:

• automatic A/B testing, which allows you to run multiple tests in any part of the site;
• smart page optimizer, which helps to create interesting titles, descriptions, lists of benefits that will attract the attention of CA.

Other programs that offer similar AI solutions for eCommerce include Dynamic Yield, Monetate, Evergage, VWO.

AI for video creation

Synthesia, an AI-based solution allows online shops to effortlessly create professional videos. It can also be used to make realistic avatars that can speak different languages. The platform allows you to add interactive elements, which can increase viewer engagement.

Other AI software in eCommerce that would be suitable for creating videos and animations for eCommerce include Lumen5, Pictory, DeepBrain, Rephrase.ai, and Vidnoz.

AI for creating chatbots

Landbot is a powerful AI tool for eCommerce that creates talking assistants for web pages, WhatsApp and Facebook Messenger. It provides ready-to-use templates from which you can create compelling chatbots.

What other AI solutions for eCommerce does Landbot offer:

• creating chatbots to gather information about potential customers through interactive conversations;
• installing AI consultants that will instantly answer users' popular questions;
• customising chatbots so that they recommend products based on customer preferences and their previous actions on the site;
• using AI consultants to remind the user of the product that is in the basket, discount to complete the purchase;
• using Landbot's analytics tools that track the performance of AI chatbots, which helps companies understand customer behaviour and improve their strategies.

Other useful AI chatbot products include ManyChat, Chatfuel, Tidio, and Drift.

AI and analytics

Let's look at how AI analytics programmes for eCommerce products work, using DataHawk as an example. The platform provides tools that help you effectively manage online sales on Amazon, Walmart, Shopify, and BigCommerce. With its help, you can:

• track your products' positions on shopping platforms to see if they are outperforming competitors;
• study your competitors' sales, prices and strategies to better navigate the market and adapt your strategies;
• analyse your sales to understand which products are profitable and which ones require extra effort;
• create reports to visualise your data and monitor key performance indicators.

Other similar AI platforms to improve eCommerce performance may benefit from RetentionX, Tableau, Looker, Power BI, Google Analytics, IBM Watson Analytics, among others.

AI and textual content

There are many services that help to create interesting texts (ChatGPT, Writesonic, Claude and others). With their help you can significantly improve the text - increase readability, check grammar, optimise articles for SEO.

They can also be used to create:

• blogs;
• email marketing messages;
• social media adverts;
• video scripts;
• advertising texts;
• automated customer service messages.

It's important to realise that these tools are only an aid to help improve your text. They can offer structure, ideas, or hints, but you shouldn't rely on them entirely to create texts. AI can't always correctly take into account context, audience and tone, which is especially important when creating quality content.

Prospects for AI in e-commerce

It is obvious that the use of AI in eCommerce solutions will continue to grow. This is explained not only by the great business opportunities, but also by the fact that new AI-based tools are constantly appearing on the market. Many of them are affordable, if not free of charge.

According to American research company Gartner, in developed countries, 80% of customer service and support organisations will be using AI in one form or another by 2025. Features such as:

• AI-enabled chatbots;
• personalised offer matching programmes for users;
• virtual assistants to track competitors and price dynamics;
• AI-based analytical tools;
• inventory management and logistics software;
• visual and textual content creation tools.

Given the effectiveness of eCommerce products with AI, there is every reason to assume that all companies that want to be competitive in the market will implement artificial intelligence in their work.

How to implement AI into an eCommerce business

Integrating AI into eCommerce consists of these steps:

1. Planning - the business goals to be solved by artificial intelligence are defined: selecting personalised offers, improving customer service, studying competitors, inventory management.
2. Evaluate source data - information about customers, products, transactions, etc. Make sure they are clear, understandable, and don't violate privacy rules.
3. Selecting AI tools and technologies to incorporate into business operations.
4. Active co-operation with a developer (e.g. IT company MEGASITE) who will implement AI in your business.

It is important to remember that implementing AI in business is an ongoing process that requires constant monitoring, improvement and adaptation. It is necessary to keep abreast of the latest advances in AI and eCommerce. Only in this way will you be able to ensure the relevance and effectiveness of AI in eCommerce-related solutions, respond to market changes in time, and increase productivity.

To find out the details, contact MEGASITE specialists. We will help you create an online store that will be fully optimized for the productivity of your business through the use of advanced technologies, including artificial intelligence.