Artificial Intelligence is the discipline that aims to understand the nature of human intelligence through the construction of computer programs that imitate intelligent behavior. Artificial Intelligence products techniques are successfully developed and used in most of the areas of science, engineering, education, business, etc. We use the terms namely approaches, techniques, technologies, tools, methods, and systems interchangeably in the rest of the paper. A complete list of acronyms is provided in the appendix.
AI in ecommerce has marked its presence in every field of concern. It is going to personalize the shopping experience for the user and improve the shopping experience. For retailers, it is a medium to improve sales, deliver better engagement and improve the customer's service.
The role of artificial intelligence in e-commerce is impressive as it can provide chatbot services, analyse customer comments, and provide personalized services to online shoppers. Proper applications of artificial intelligence in e-commerce result in enhanced customer experience that ultimately brings huge profits to any business.
Most of the online purchases start with the search. The search results should be relevant and according to the keywords. Else the user will look somewhere else for the Artificial Intelligence products. The text-based searches return a list of items that include those keywords in the title name and the description.
AI in ecommerce techniques and business intelligence allow users to upload the image annotation and discover the most relevant or exact search result. This saves a lot of time for the consumer as a consumer no longer have to linger for hours.
AI in ecommerce approaches is useful in the development of B2C and B2B e-commerce systems. B2B e-commerce has around 80% share of the total e-commerce market, and B2C captures the rest. But, much of the attention in data science, business intelligence, and AI for e-commerce development has focused on B2C transactions.
AI in B2C E-Commerce In B2C e-commerce products, AI in ecommerce is used primarily for product selection and recommendation, negotiation, auctions, solving real-world scheduling problems and enhancing servers’ scalability, generating automated responses, and decisions on bundling and pricing of goods, etc. In B2B e-commerce, AI is used mainly for the supply chain management. AI technologies, namely ontologies are used in both types of e-commerce systems.
In this section, we present some important AI in ecommerce approaches that are used in the development of B2C e-commerce systems.
AI in B2B E-CommerceSCM is the key factor for successful B2B markets. As a result, it is the key for B2B e-commerce also. The rise of e-commerce has further heightened the importance of SCM (supply chain management) as companies re-engineer processes as they are moved online.
“A supply chain management is a collection of autonomous and it is the backbone of e-commerce that network of autonomous or semi-autonomous business entities responsible for procurement, manufacturing and distribution activities or participation associated with one or more families of related Artificial Intelligence products. An integrated supply chain makes businesses to share real-time information and significantly reduce the inventory carrying costs. This is very important for B2B e-commerce.
AI in product selection and recommendationArtificial Intelligence products are used in advising the users on the items they want to examine or purchase through the Internet. This kind of advice is necessary because there are no real persons to advise the customers on the Internet. This advice is helpful in navigating a large range of product descriptions.
AI in Inventory Management for E-Commerce
The predictive analysis of data science services is making a huge impact on inventory management. The machine learning algorithm can predict the future demand for the product based on the history data.
More and more usage of predictive analytics and Artificial intelligence in E-commerce improves the efficiency of inventory management data. Artificial intelligence applications have enabled retailers to predict the real-time inventory needs of the business.
AI in Systematic Sales Process for E-commerce
Artificial Intelligence products applications are used by E-commerce retailers to gather data patterns and to generate powerful insight from the data. Businesses intelligence can improve sales or marketing in e-commerce by using historical data and data-driven feedback.
Nowadays, people are more inclined towards social media platforms for shopping inspirations. Deep Learning techniques can be used to identify the choices and interests of the customers. Artificial Intelligence ecommerce can scan millions of data applications and develop the correlation between the buying patterns and user data.
We hope that in the future, AI in E-Commerce plays a greater role in the development of e- commerce systems. Hope, more smart results may be developed for B2C e-commerce. Webtunix AI expects more research and development take place in applying AI to B2B e-commerce.
Artificial Intelligence products techniques combined with XML, UML and other object- oriented technologies may lead to more useful techniques for information exchange in e-commerce. The rest of the conclusions focus on how future AI applications to e-commerce can be evaluated. One of the basic aims of AI is to build systems that can mimic the behavior of human beings.
By adding machine learning and Artificial Intelligence products and components, an e-commerce system should behave more “natural” to its users. For example,recommender systems. Like any other technology, AI should also enhance the efficiency/performance of an e-commerce system. Efficiency is in terms of producing fast and elegant solutions and consumption of fewer system resources.
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