Artificial intelligence is one of the hottest topics of discussion and it has a huge influence on different business verticals. From smart homes, devices, cars to virtual assistants, technology is helping people in their day-to-day lives in more than one way. The eCommerce industry is no exception and AI is transforming the online shopping experience, making it far more exciting than ever before.
The reason that this industry has shown immense affection towards this technology is that it has to manage virtually endless volumes of user information. Magento, the most used eCommerce development platform, is thus integrating well with the AI technology to drive remarkable results for the whole industry.
Magento is a popular eCommerce platform is used to build and power online stores with its amazing features and functionalities. It is the most used eCommerce platform and has several AI-driven extensions and tools that allow it to enjoy the benefits of this innovative technology. Recently Artificial intelligence-Powered Product Recommendations is released for Magento 2 development and how it is useful for online selling is discussed in the blog below.
Let’s discuss some important facts about the Artificial Intelligence for better understanding.
What Is Artificial Intelligence (AI)?
Artificial Intelligence (AI) is a highly popular concept which has become highly popular in the last few years and this is not a strange concept to Magento 2 developers regarding E-commerce industry. AI is machine ability to study large volume of data, and react like human beings.
AI can perform different functionalities:
- Analyze the user behaviors
- Study collected data automatically
- Offer solutions based on what is learned
- No human intervention
Why Artificial Intelligence Integrated with Magento E-commerce Stores?
AI has powered several applications and they are quite popular including Siri and Google Assistant. Apart from that, several AI applications are getting in the online selling industry and in Magento 2 development in particular. Many technology experts feel that in the near future AI will make a huge contribution to online shopping habits of users.
Let’s discover some potential Artificial Intelligence benefits in E-commerce websites:
1. Improved Search Functionality
Search plays a significant role in online selling websites and the ability to search for products. Magento eCommerce development has several extensions regarding this, but AI delivers better results. It works by focusing on the search’s context instead of relying on the keywords. It implements NLP and offers different combinations of words to provide results that are best match the buyer’s search.
2. Smooth Shopping Experience
E-commerce is a term used for one click shopping and AI helps to amplify it with its smart context based search functionality. With the addition of AI, store owners can bridge the personalization gap and it helps to deliver customer centric campaigns.
3. Prevent Frauds
Payment is a major criterion for any online selling business that is prone to online fraud and theft. These challenges can be addressed well by merging security standards with machine learning. You can hire Magento 2 developer to get the best security for your E-commerce store. AI helps to take stores to a new height of success and provide security by using behavior analysis techniques. This ultimately reduces any false positives and enhances any decision-making process.
4. Smart Search
The AI software help to manage small or big scale businesses in this competitive world. Magento Development Company can help AI integration in your platform to track the customer’s interest and previous search history. AI is a technology allowing a smart visual search and gives remarkable results.
Automation in customer support can help to save both time and energy for every online selling business. AI plays a key part in E-Commerce platforms as it eases the work on both frontend and backend. A smart chatbot can coordinate sales, engage loyal customers, provide customer support and identify risks of online transactions.
6. Supply Chain Management
It is quite interesting to know that AI integrated with Magento e-commerce stores can make product tracking an efficient and effective work. A timely report is shared regarding the updated inventories and you need to sync as per the accurate order analysis depending on the past order history as well as the trends.
Recently, Magento has released ‘Product Recommendations’ an AI powered feature from Adobe Sensei. Store owners can integrate product recommendations into their E-commerce stores to help buyers discover relevant products during buying journey. It also helps in creating engagement, conversation and thus drives more revenue.
Benefits of the Product Recommendations Program:
- AI-Driven Retail Experience: This AI technology analyzes shopper behavior using machine learning algorithms, eliminating any sort of manual effort needed to manage the product.
- Streamlined user flow: The whole buying process is streamlined and simplifies the creation of product recommendations into well-defined steps.
- Multiple recommendation types: Store admin can select from multiple recommendations and integrate them across their store. This comprises Trending, Viewed-Viewed, Viewed-Bought, Most Purchased, and Recommended for You.
- Auto-distributed page tagging and catalog sync: The Magento storefronts are by default page tagged with no necessity of coding. The product catalog is by default synced to a dedicated cloud service to ease the load of the Magento server.
- Embedded Merchant Experience: It enables an integrated UI and helps to create, manage and deploy product recommendations straight from the Magento Admin. It also helps to be on the top of different metrics like impressions, views, clicks, and revenue.
So, these are the important benefits a Magento store can availed with latest Product Recommendations program.
Considering the immense benefits that Magento and AI combination are likely to serve, merchants should make the integration faster. The best way would be to hire Magento 2 developer with the right knowledge and experience. Look for professionals who can help you in integrating AI with your store so that it can deliver better user experiences. At Magento Developer Group, we are Magento 2 specialists who can help both new and existing businesses embark on this transformation journey. Apart from development expertise, we offer timely support to ensure that your store runs seamlessly.
Frequently Asked Questions
How does AI work?
AI combines data with rapid, iterative processing and smart algorithms, enabling the application to take decision automatically using the data patterns or features. It strives to facilitate human-like interactions with machines.
What is AI in E-Commerce?
Artificial intelligence in E-commerce offers personalized and interactive buying experiences. With AI-enabled systems, companies can view their customers’ preferences in real-time and provide them with reliable and specialized shopping experiences.
How is AI used in e-commerce?
The implementation of AI in E-commerce is listed as follows:
• Recommendation engine for sending across contextual recommendations for the shoppers
• Content Personalization that is visible to specific shoppers on the web store
• Machine Learning for allowing dynamic pricing
• Sales Predictions using Machine Learning
• Improved searches based on shopping preferences and demographics
How does AI empower e-commerce marketing?
AI is a great tool for marketers in creating result-oriented marketing strategies. From tasks automation to data analyzing and facilitating personalization, there is much that AI technology can do for your online business. With this incredible technology, it becomes possible to create a scenario that is relevant to the particular audience. Obviously, this makes conversions more likely for the business.