experiencing tremendous shifts to be able to keep up with the customer demand. One of the most exciting collaborations that we’re going to see in 2024 is for sure the one between Artificial Intelligence (AI) and e-commerce platforms.
Even though AI has been in the public eye for a while now and has already been part of technology trends, we have only seen just the tip of the iceberg. New solutions and features powered by AI are set to come in the upcoming years. This year is no exception.
- Personalized Marketing
We all know that personalizing each interaction with the customers is the key to customer satisfaction. Statistics show that over 90% of customers choose to shop from brands that offer personalized shopping experiences. With the help of AI, personalized marketing has never been easier. Customized offers, advertisements, and email newsletters – all can be sent by AI. E-commerce businesses can benefit from this just by providing AI software with the purchase history of the customer.
- Visual Search
Another AI-powered trend that is set to take over in 2024 is visual search. Instead of trying to find the words to describe a certain product and scrolling until finding the right one, customers need just a picture – or screenshot – of that product. The way this works is by analyzing the picture, from color to texture and shape, and then comparing it against an extensive list of catalog images until the search engine finds a match. Some companies already use this feature and we will see more of it in what’s to come.
- Virtual Assistants
Virtual assistants have been part of our day-to-day lives for a while. You’ve used for sure Siri or Alexa before. In 2024 we are bound to see more of such assistants after seeing how the already existing ones improved the overall customer experience. AI-powered assistants interact naturally with the users and perform real-time tasks assigned to them. Even though this technology is not new, it suffered huge improvements and is ready to transform customer services for the better.
- Fraud Detection
With technological developments come more powerful threats. To be able to stop and prevent fraud and cyberattacks, e-commerce platforms will start to use more and more AI for fraud detection. AI can provide security by analyzing and detecting suspicious or abnormal behavior in terms of payment methods, location, frequency of transactions, and location. Every business wants to reduce as much as potential losses, so fraud detection powered by AI will become one of the biggest trends in e-commerce.
- Predictive Analytics
To stay at the top of the market, accurate predictions of future customer needs and behaviors are essential. And AI can help with that. The more customer data the AI algorithm gets, the more accurate the predictions become. With this valuable information, retailers can forecast what preferences the customers will have in the near future. Not only does this give businesses an edge, but it also increases customer satisfaction.
AI has forever changed the way in which various platforms across different industries work and e-commerce is one of them. AI-powered trends will take over the e-commerce industry so being up to date is essential for gaining a competitive edge. From personalized marketing to virtual assistants, AI enables e-commerce tools to provide their users with innovative features that will forever change online shopping experiences.
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