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b. E-commerce
Personalized Shopping: - while shopping online you get
recommendations engines through which you can engage better with
your customers by taking into consideration their usage history,
preferences and interests. This can lead to improved brand loyalty and an
increase in the number of conversions. AI also enables visual searches
through which the user can upload an image of the item they require and
be shown by the search results that match their query.
AI Powered Assistants: - AI powered assistants like virtual shopping
assistants and chat boxes help improve user experience while shopping
online. Using techniques like Natural Language Processing (NLP)
conversations with users can seem personal to users and tailored to their
interests. Assistants can help with answering doubts, gathering feedbacks
and perform real time engagement.
Smart Purchasing: - AI helps with forecasting demand for products and
enhance the decision making behind what items to stock up, and when it
should be done, so that customer expectations can be met.
Fraud Prevention: - AI can identify credit card usage patterns and reduce
the possibility of credit card fraud taking place. AI can also help identify
and handle fake reviews, in the process improving customers trust in
your brand and products. As 80% of the people buy from seeing the
reviews and feedback. Some of the organizations that have already
started using AI are Amazon, Alibaba.com and eBay.
c. Marketing
Programmatic Advertising: - With AI marketers can deliver highly
targeted and personalized ads with the help of behavioral analysis,
pattern recognition etc. It also helps with retargeting audience at the
right time to ensure better results and reduced feelings of distrust and
annoyance.
Personalized Narratives: - AI can perform content writing, that matches
the brands voice and style to handle tasks like performance reports,
campaign reports, market research analysis etc.
Chat bots: - Chat bots powered by AI, NLP, NLG, and NLU help understand
what users are saying and respond like human’s do.
Personalized UI and UX: - AI can provide users with real-time
personalization based on their behavior basically these smart systems can
process information about site visitors and app users then apply changes
to the model in ways that optimize it for future use by continually
learning and adjusting the algorithms improves the users experience to
offer a more engaging personalized experience.
Localization: - AI can be used to edit and optimize marketing campaigns
to fit the needs of a local market by automated editing of certain
variables like cta’s (call to action) and copies etc. the campaigns would be
able to connect better with a local audience.
d. Market Research
According to Tractica a market research firm the Global AI market is
expected to reach a revenue of $118.60 billion by 2025.
According to the research firm Gartner, AI usage has grown by 270% in
the last 4 years.
87% of the companies that have adopted AI were using it to improve
email marketing.
75 countries are now using AI technology for surveillance.