No sector of the global market is immune to the impact of artificial intelligence (AI). The advancement of AI technology is altering the way we interact with the outside world, from virtual reality (VR) gaming systems to AI robots in industrial manufacturing.
Our buying habits are shifting. Businesses are now able to customize the purchasing experience for each consumer and offer suggestions in real-time thanks to artificial intelligence. However, as learning technologies and algorithms are currently changing how we buy and sell products online, e-commerce is particularly vulnerable to disruption from AI. AI is capable of carrying out the tasks we used to do manually. It can also improve consumer satisfaction and give businesses the information they need to make wise business decisions.
Market research firm Tractica estimates that by 2025, global AI sales will have increased significantly from $643.7 million in 2016 to $36.8 billion.
The in-store shopping experience of the future may involve retail robots. Robots could answer simple queries even when there were human staff members present, relieving clients of the awkwardness of asking "too many questions".
Conclusion: To improve their analytical insights, personalise the customer experience, and boost their competitiveness, e-commerce firms are increasingly turning to artificial intelligence. Any company that doesn't invest in the potential of artificial intelligence in e-commerce will fall behind as the market for it grows.