Markets, globally, have transformed drastically in the wake of technological advancements that are revolutionising the very lives in live in this century. Artificial intelligence is no more a figment of science fiction and futurist stories; it is very much the truth of how we interact with the world around us. The core advantage of artificial intelligence is its ability to process huge chunks of information and identify data patterns and trends that allow a deeper understanding of the respective subject. Retail marketing has taken to artificial intelligence like a fish to water.

In order to boost their products in the market, sales teams of every retail institution rely of data — data that allows them to understand the market they are catering to and attempting to attract. Moreover, there is nothing better that artificial intelligence to make sense of huge pools of data. Apart from the ability to collect and collate data, artificial intelligence has transformed the game in another significant manner. The process of boosting a product and converting that into a sale relies on the brand’s ability to establish a relationship with the consumer — every single one of them — and artificial intelligence can help in powering these relationships. Having churned enormous proportions of consumer data, artificial intelligence can supply information to the sales teams that would help them get closer to the consumer and strike up a conversation. Artificial intelligence can identify patterns in the collected data and predict sale patterns to ensure that marketing strategies are tuned to meet the expectations of the consumers at large.

Boosting products is an essential focus of marketing, and the impact of artificial intelligence on the process is only slated to grow from here.

Personalise Customer Experience

The truth of modern day marketing is that ‘personalisation works’. It would be safe to assume that consumers are more attracted to brands and products that speak exclusively to their demands and needs. Behind the screen, artificial intelligence would employ complex algorithms to identify trends in a consumer’s browsing patterns and buying habits; these would them be translated into tangible insights into the consumer’s need, want, or demand. This would create the impression that the brand values the consumer, cares about their specific personal choices, and directs them to products that they are more likely to buy.

This method becomes handier in the age of digital marketing. A majority of modern retail buyers and shoppers turn to shopping sites or the portals of brands to find the products they need and learn about other offers up for grab. The volume of generic advertisement that one goes through would make it difficult for brands to attract the targeted consumer if they are not talking directly to them about their immediate needs.

Consumers are increasingly open about sharing their personal data in assurance of receiving personalised marketing messages rather than generic sales pitches for random products. With chatbots in the mix, artificial intelligence is already on the way of revolutionising the relationship between the seller and buyer.

Customer Engagement

As important as making the sale is the need to maintain a positive relation with the consumer to ensure that ensure product loyalty. Artificial intelligence is proving to be a game changer in this aspect as well. The array of products available and the myriad of promotional campaigns makes every brand and product a fleeting image in the sensory overload of advertisements. It is essential for companies to understand that their process of boosting their product should always be complemented with an extreme customer engagement. This enhances the relatability quotient of the product and ensure that it is easy to recall during a purchase decision.  The unstructured data from the market can make it difficult for the marketing teams to reach out to each consumer personally. Chatbots powered with artificial intelligence can be the solution to the cluttered chaos. Brands can use the information and the technology to reach out to consumers — existing and potential — engage them through online interactions, surveys, and feedback forms to ensure that they completely understand the market forces that would influence their product.

Augmented Chatbots

Despite a growing affinity for everything digital among the general populace, human often crave the comfort and warmth of talking to another human before making a purchase decision. It is imperative that the brand would have to find ways in which they can use artificial intelligence to mimic human conversations and reduce the pressure on the telemarketing teams. Augmented chatbots can answer simple queries and engage consumers in basic conversation. This could solve their problems and answer their queries; and for those who seek further assistance, the chatbots can automatically connect to the department where they can find their answers. This will ensure that the consumers do not abandon a product from the frustration of not receiving a proper after sale service.

Implication of Artificial Intelligence

In a world of fleeting loyalties, brands will have to go all out to ensure that they remain the consumers’ first choice. The sheer range of implications of artificial intelligence in boosting a product is grand. The brand will have to organise their networks in order to ensure that they can absorb the full potential of artificial intelligence in their services. Basic requirement for a brand going forward from here is the need to build an infrastructure that allows the seamless integration of artificial intelligence into the existing standard procedures that are followed across the organisation.

Conclusion

The digital market place is replete with brands competing in a cutthroat race to grab the attention of consumers and take their money. Brands attempting to survive the digital age will have to recognise ways that optimises their presence of the screen. It is not entirely difficult for companies to generate the information that would help them build a robust marketing strategy. Most consumers online are willing to share their preferences. The challenge lies in using technology to their advantage and building an experience for the consumer that is beyond the features of the product.

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Digital commerce (D commerce) is a sort of e-commerce where companies used to send and receive activities digitally. It is a process of activity done by purchasing and selling goods and services through online. It includes control of digital marketing technology, such as digital advertisements, email, mobile and social media channels, along with data-driven analytics and digital content (documents, papers, and bills).which helps to produce commerce objectives, such as income and profits. And helps to get the insights of user purchasing behavior, maintenance, and user experience at every point during the customer-purchasing journey.

The impact of artificial intelligence (AI) in digital commerce generally deemed to the way of success. Artificial Intelligence revolution is in progress and utilized almost every business by at least 70 percent in digital commerce According to the research report, and possible to cross the mentioned percentage within 2021.

Digital Commerce is developing and growing at a fast phase. Marketers can generate distinctive ads and custom-made mails for each specific consumer in real-time by leveraging and controlling artificial intelligence and machine learning technologies. Investigating each customer behavior to point out the which customer can return back and purchase the goods and services based on the customer analytics behavior report and can target the exact audience to show ads and send individual mails to them.

Transformation of digitalization in commerce, with the help of AI and Machine Learning we can drive user behavior insights and enable marketers to collaborate across various departments and can be responsive and creative promotions for selected users based on shopping behavior. This advancement made rapid changes in the market more competitive and increasing the customer experience making significant changes in business and driving sales of digital commerce business to the next level. This new digital technology can renovate their current money commerce, driving commercial growth to accurately update for shoppers and stay ahead of the competitors. Here are some departments how AI will affect to grow digital commerce industry

AI Predicting customers want                           

Today customer is surveying in single platforms such as social media. Where it will be helpful for companies to target audience with the help of tools to engage legacy and feel instantly what they require to purchase. AI to affect the customer experience, reports need to deliver in the instant through the customer’s chosen present Ads and emails. With the help of insights, we can make more key elements of customer engagement.

Artificial intelligence can implement effectively to deliver smart, appropriate data on customer involvement on the topic of customer trip of shopping. This will product in re-imaginary customer involvements and end-to-end purchaser endorsement that is combined and more individual so that they impressive more normal for customers.

Artificial Intelligence is an innovative creature in Customer. Already many other industries are benefiting from implementing this technology

Natural product intelligence

Machine learning is also famous for categorizing goods. Before, businesses would send out bulky product records that made it tough for customers to catch what they were viewing for. At present with the help of Machine Learning algorithms, it can present exact product catalogs to exact customers.It will be intelligent to upload photos of goods that is alike to what they looking to an acquisition. Through AI, a website will be intelligent to investigate the pictures and create a catalog of offers based on the uploaded pictures.

AI-infused applications

Applications that adjust and read as per e data them the method will present the customer, product and service insights required to make valid decisions across the industry. Adaptive smart applications will propose at personalized Ads based on suggestions and procedures that the system supports for individual Customers, working on customer data to enhance the goods/service development and stimulate delivery times, and identify the fraud and prevent security problems across customer reports

NLP (Natural Language Process) effects

Applying NLP to explore can be especially important because it changes the focus from keywords to exact meaning, enabling individuals to be people while a machine performs the work of a particular, intent-based analysis. When employed for text-based e-commerce research, the NLP abilities can play an important role in building the kind of frictionless, seamless customer communications that encourage digital commerce progress to enhance user experience.

Chatbots and Virtual Assistants

Chatbots might really be the latest solution for the customer support sorrows. The advanced chatbots are capable to interact with consumer databases and exact aspects of a customer and answer in the most relevant and personalized process in real-time.

Smart chatbots and virtual assistants are empowering online customers to contract with their customers on a profound level.  Online Chatbots and virtual assistants have the advantage of that data to implement an extra user experience

Conclusion

In conclusion, that AI is on the rise in the commerce business; however, it improved by enhancing many departments. Ecommerce business continues to develop with Artificial Intelligence devices to great extent in online business demand. The Advance Artificial Intelligence transformation in industries used to develop in purchases and sales with the exact database. Companies can easily analyze the AI insights and help to obtain this information is a significant factor in maximizing Income. The decision-making method will additionally see a radical transformation in the instant future. The technology that currently lives relies on deep-neural profits and millions of data objects

We understand, that Artificial Intelligence in digital commerce will affect transactions, customer experience, happiness, performance and many more in the customers buying journey. AI is improving the way customers buy and sell online.

“Voice can be as disruptive to e-commerce as mobile was to desktop.”

-Mike Haswell, Google

Voice commerce is a form of software application that is usually used in business websites. This technology replaces the standard point-and-click online decision-making process by letting the user speak into a microphone and makes selections based on oral words and phrases. . The user’s decisions are based on specific voice-recognition responses.

The developments of chat bots and digital voice assistants like Siri, Alexa, and Google Now etc. are factors of #AI which is creating a new and upcoming trend of conversation based e-commerce. It will not be long until consumers understand and accept this change in technology. People will soon realize the absolute convenience, speed and ease of voice commerce and will rely on it mainly while shopping online. Considering the consumer’s increasing comfort level and fascination with virtual assistants and chat bots, extensive adoption of voice commerce will be prevalent. This new trend can be best explained with the example of Amazon Echo Dot, smart home assistant; this appliance was found to be the highest selling item on Amazon Prime Day Sales.

Voice command devices employ the force and influence of machine learning to further predict which products a customer will find most relevant. This is done based in the customers past searches. For instance, a customer might simply ask their device to order a pizza – here, food, drink and FMCG retailers take measure to ensure that their products get chosen over those of their competitors.

Off late, many retailers are using NLP (Natural Language Processing) for their sites and are thus upgrading their websites with the same. USA’s Drinks giant Diageo has upped its game by developing a ‘skill’ to be used on Amazon’s Alexa – this allows the device to guide users/listeners to make cocktails using their ingredients

Talking about moving up rapidly in the race to win the competition, upgrading and advancing your brand is crucial but what stands as most important is data. With a huge pool of consumer data available online, digital attentiveness can help retail brands and investors assess their present market position, provide valuable views into the various concerns affecting customers’ sentiment, and stay on top of any potential risks. For retail investors, going digital and keeping part of an asset for voice e-commerce could prove to be immensely helpful in creating value for themselves in a bumpy and difficult sector.

Voice controlled devices and voice commerce have made their way in our world and are here to stay. Businesses can thus utilise their data to understand better their customers, build trust and loyalty are likely to see high returns.

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The 21^st century can somewhat be pegged as the digital era and one of the most rapidly changing trend in the era was that of Artificial intelligence. Put into simple words, Artificial Intelligence is the science and technology of making computers do things that require intelligence when done by a human. The successful application of artificial intelligence depends on the program’s ability to capture and preserve human expertise. Artificial Intelligence has over the years grown by leaps and bounds and is now used for several day to day functions as well in various sectors such as Finance, Automotive, Healthcare etc.

Artificial Intelligence has currently surpassed the Machine Learning stage where a set of algorithms are used by intelligent systems to learn from experience. AI is currently at the Machine Intelligence stage where it uses more advanced set of algorithms as compared to the previous stage and these are used by machines to process and learn from experience.

Due to Artificial Intelligence the human intelligence is simulated so well that we use AI in our day to day lives and have eliminated the need for human interaction when it comes to those particular tasks. A few such examples are:

Virtual Personal Assistants: These are all intelligent digital personal assistants on various platforms such as iOS, Android and Windows. The machine processes are queries asked by the user and responds within no time with the appropriate answer

Purchase Prediction: Algorithms are used to detect a pattern in customer purchasing and that information is used in various ways such as sending coupons, discounts and suggest items to the concerned customer.

Online Customer Support: Opposed to what one might think, not all online customer support chats have a live person responding. AI comes handy in these cases where a chat support bot sends much more than automated responses to customer queries. It has the ability to extract information from the website itself and present it to the customer.

Smart Home Devices: These machines study the users pattern and then process that data and act accordingly to perform tasks that help the user save money and conserve energy.

The basic simulation of Human intelligence and the apt way that it is being implemented is one of the reasons why AI is now an integral part of our lives. One cant say what the future holds by the sky is the limit when Artificial Intelligence is concerned as it is growing by leaps and bounds everyday with millions of dollars being put into research to make it better.

Chatbots are the boon of our century – they’re humanoids that use natural language processing and artificial intelligence to aide businesses in building relationships with potential and existing customers. When fed with adequate information, they can carry out human like conversations with people and answer their queries. It acts as a customer service representative, only smarter, quicker and available 24/7. Human drawbacks affecting productivity like mood, energy, motivation, etc are absent in chatbots.

To meet the market demand and build the reputation of any organization, the need for handling customer grievances and queries is more than ever. Equipped with machine learning, chatbots are always on a loop of continuously learning from human inputs, identifying and tracking their behaviour, and improving its response quality. The more it functions, the smarter it gets. Organisation’s magnitude of efficiency and cost cutting increases drastically; profits can be generated even after office hours. There is no end to how beneficial chatbots can prove to be when implemented correctly. From providing customers with adequate answers, saving several man hours and reducing work load on employees, they ace it all with ease.

While chatbots are primarily limited to text based communication, its advanced counterpart – cognitive computing – takes care of more complex features like face recognition, emotion sensing, voice detection and visual tagging. Cognitive services make extensive use of artificial intelligence to understand human responses and act aptly.

Businesses can use these technologies to gather rich data and enhance their understanding of their customer base. With better clarity on what clients need, want, like and dislike, businesses can market their products or services accordingly. Adapting chat bots and cognitive services in one’s business processes is an affirmed path to increased growth and success.