In this article, we shall be covering out our best about AI and how it is driving Ecommerce App development. It shall give a good insight into the best applications of AI in Ecommerce.
Snapshot Of AI
Artificial Intelligence is a concept that dominates the world of technology. Although it existed as early as the 1990s, its prevalence is given importance in this century. Today, AI has its foot in every domain which we can think of, so how can the e-commerce sphere be left out? AI has accelerated digitization in e-commerce. With the help of AI-powered mobile app development coupled with Augmented Reality and Virtual Reality spheres, retailers or eCommerce players are able to focus on delivering more personalized services to their clients. While global E-commerce sales are projected to touch $4.8 billion by the year 2021, Gartner predicts that around 80% of all customer interactions will be managed by AI technologies (without any human agent) by the year 2020.
AI Is Used In ECommerce?
AI To Make Sales Process Attractive
The integration of AI into the domain of the CRM sphere shall assist eCommerce to automatically send a follow-up email at a particular time as training to the systems. Since human beings have limited memory so chances of missing a client’s follow-up are high.
In-app Virtual Assistants To Make User-engagement Better
90% of e-commerce players are now offering in-app virtual chat assistance (voice-enabled or chat-enabled) in their applications for enhancing the user experiences and delivering them instant responses just-like sales representatives. However, the cost is a bit on the higher side around $1.3 trillion every year to answer customer calls, which also includes support agents 24/7 and doesn’t waste human resources that can be otherwise directed towards other tasks. Below is an exhibit reflecting chatbots to engage with companies in the U.S. industry-wise.
Identifies Potential Customers
The purchasing patterns of customers are analyzed by the software of AI, ML, and DL. It helps to provide insight that helps the e-commerce players to analyze customers’ choices and offer them a more personalized service which in turn shall help to retarget customers and drive more business value.
AI, AR, and VR
Augmented and Virtual Reality has already been discussed in our other article. This dynamic tech allows users to search and find products so that they can place them in their homes virtually. Such 3D representations of products in their spaces will help to enhance the probability of lead conversions.
AI In E-Commerce For Forecasting
Based on the purchasing trends, AI software will analyze market trends, predict demand, and give insights for businesses to catch up the future opportunities. Knowing such intelligent reports about product demand will allow online sellers to track the market dynamics, know the demand for the product, maintain adequate stock, and generate good profits.
AI integration in eCommerce provides the highest form of privacy to the user data since its equipped with encrypted payment APIs. It makes online payments through e-wallets, debit/credit cards, UPI/BHIM payments, or net banking highly secured.
Picks Forged Reviews
Since the customer reviews show their impact on future sales, it is very important that the fake reviews should be separated out as soon as possible. These reviews shall drastically drop the sales volume and also hurt the brand image. Intelligent AI applications help to identify such fake IDs and keep genuine comments.
How Much Does It Cost For An Ecommerce App Development With AI Technology?
Being one of the best mobile app development companies USA, we estimate that the cost to develop an AI-powered e-commerce app development would roughly range from $40,000 to $85,000. Hyena is the best mobile app development services provider in the USA and India. They have a team of professional full-stack app developers who have intensified knowledge in AI, ML, IoT, and Blockchain-like technologies to create futuristic Android/ iOS apps with a cost of around $1,00,000.
E-commerce app development in this digital era shall ensure a big embrace of the brand. Application development is a good business decision in the digital sphere.
Businesses can target audiences via Android or iOS apps. AI-enabled mobile apps for eCommerce will allow retailers to deliver a secure and personalized service to their clients.