Artificial Intelligence (AI) can be used to build a shopping assistant that will establish an initial curation, limiting the set of choices for the end users while still enabling to control the final decision. Virtual assistants will transform the nature of e-commerce, from a magnitude of diversity and long tail shopping to an effective and simple discovery process with personalized recommendations based on end user needs.
What are the benefits for both online merchants and end users?
– It removes friction points which create impatience, overwhelming choice and a high exit rate from your home or category pages.
– It brings long tail to life by taking advantage of filtering capabilities to recommend products that are exactly matching potential customer needs.
– It improves efficiency, conversion rate and returning visitors rate.
It’s basically an extension of the current capabilities pioneered by Amazon, the leader in e-Commerce, who is reported to receives about 35% of its revenue through Product Recommendations. Such systems are required for the Omni channel retail space to innovate and facilitate the mobile shopping experience. Almost two thirds of people are going online before going shopping in a bricks-and-mortar store.