Leveraging the power of AI can do wonders for your business, big or small. The potential for the technology to transform business growth is showing promising results.
Forbes Advisor says 64% of companies believe AI can increase productivity and other aspects of the business model. Already, a quarter of U.S. companies are adopting it to address staff shortages.
It’s a surefire sign that AI is here to stay and disrupting the technology and business sector.
AI web tools have been making significant strides in the eCommerce market. Below are a few currently on our radar.
AI Website Builders
A few years ago, creating a website from scratch without any knowledge or experience was impossible. Now, business owners are turning to AI website builders and AI store builders to refine their customized websites exactly to their liking.
Instead of wasting money and hours of manpower to build a website, you can do it within minutes. The result is a business website with beautiful aesthetics.
An AI website builder can generate unique website designs according to your preferences and business type.
A comprehensive suite of AI tools encourages your creativity. Clients can access an AI logo generator, image editor, and website content generator for their online store.
Hocoos states that an AI website builder offers the most streamlined and efficient way of website creation. It avoids the headaches of traditional design and gives you, the customer, complete power over every aspect of the website-building process.
Chatbots
Do it right and AI-powered chatbots can increase customer retention rates. Do it wrong, and you’ll find an uptake in abandoned carts.
A recent survey by Intellias found that “clunky” chatbots are the bane of a customer’s online shopping experience. According to the study, one in five shoppers said they were likely to abandon a purchase after interacting with a chatbot.
However, customers showed interest in AI shopping assistants. If an AI-powered chatbot was programmed to assist with pricing and real-time promotions, customers would be more open to interacting with them.
Intellias’s global marketing director Dave Howard says companies wanting to integrate customer-facing AI into their digital platforms must deliver value alongside a seamless buying journey. It’s not about owning bragging rights to the latest AI technology.
Fraud Detection
The implementation of cybersecurity is a must and no longer a need. As online transactions are increasing, so too are fraudulent activities.
AI fraud detection tools are fast replacing human experts due to the sheer number of online threats and security breaches. These systems use advanced algorithms to analyze large datasets and detect anomalies that may indicate fraud.
The technology employs machine learning to identify fraudulent activity. The machine learning models continuously learn from new data, improving over time.
Customer Feedback Analysis
AI customer feedback analysis provides valuable insights into customer behavior by transforming raw data into actionable results.
With AI, you can collect, analyze, and interpret feedback, which is essential for your business’s success. Without the right tools, how can you identify areas for improvement?
One example of AI customer feedback is natural language processing (NLP). The technology analyzes customer reviews, social media posts and customer support tickets. By leveraging NLP, eCommerce businesses can identify common complaints and overall satisfaction.
Final Takeaway
There are many advantages to AI tools besides the ones we mention above. Their learning technology and algorithms are the building blocks for successful eCommerce platforms around the globe.
AI technology can help online stores optimize the customer experience, prevent fraud and collect data to make sound business decisions.
It gives you the power to implement a more targeted marketing strategy. AI increases conversion rates with a customer-centric experience.
What Next
If you want to tap into AI, familiarize yourself with the latest trends and stay one step ahead of your competition.
Start with a strategy, including your AI goals. Research successful case studies and take what you need to implement into your business model. Need help? Bring in the experts to develop an AI roadmap.
Not all tools require expertise. AI website builders are quick, easy and accessible to all without costing an arm and a leg. You also have access to a customer support team.
Don’t make impulsive purchases. AI technology is evolving at a rapid rate. Does it improve the customer experience? Does it improve conversion rates? Does it streamline the way you do business? If it can tick the above boxes, you could have yourself a winner.