Artificial intelligence (AI) is already touching various facets of our day to day actions, and without even realizing, we’re relying on it more and more with each passing day. With virtual assistants into our smartphones like Siri, Smart Home applications, and Smart Cars, AI is undoubtedly a game-changer by apparently making old approaches old quicker than we would have anticipated.
The idea behind the research, study, and full acceptance of Artificial Intelligence is based on the following factors:
• Understanding the end customer’s behavioral patterns, buying habits, emotions, and challenges.
• Access and analyze consumer data to keep track of information through various AI applications.
• Providing necessary information to users to achieve their goals automatically without any hassles of human intervention
How is AI applied in Magento eCommerce Stores?
Artificial Intelligence provides ample of innovative and incredible AI applications in the arena of the E-commerce industry, where there is virtually unlimited user information to be managed and extracted to generate groundbreaking results.
eCommerce giant Amazon’s CEO Jeff Bezos praised AI development saying:
Artificial Intelligence is the fuel towards Amazon’s E-Commerce success and the changes ushered in by artificial intelligence. Machine learning will help companies that embrace them and put up barriers for those who don’t.”
– Jeff Bezos, CEO Amazon
Let’s dig in deeper to discover how AI will revolutionize Magento eCommerce stores:
Exceptional Personalized Customer Experience
With the emergence of the exclusive eCommerce platform like Magento, the click and mortar model is witnessing tremendous growth. However, despite this, e-commerce stores still fail to replicate the personalized shopping experience found in physical stores.
It is where Artificial Intelligence can help bridge the personalization gap. Through AI-driven customer-centric campaigns, you can run and target the right audience using multiple channels. Implementing AI in Magento e-commerce development enables us to provide timely, personalized shopping suggestions through automated push notifications straight to the potential consumer’s smartphones. Magento’s latest version offers advanced personalization features such as customized recommendations, customized loyalty programs, gift card options, tier pricing, different upselling & cross-selling options, and more.
Powerful Context-Based Search
Product search performance is one of the most fundamental components in a Magento e-commerce shop. Most of the store visitors use the search bar to navigate their desired products, especially when there is are a large number of products listed on the site. Traditional websites generate search results based on the keywords entered by the user. If the system fails to find an exact match, it shows no results. Whereas implementing artificial intelligence in the Magento e-commerce store increases the effectiveness of search results. AI utilizes the capabilities of Natural Language Procedure (NLP), which enables us to generate more relevant context-based search results depending on the circumstances of the research phase.
Smooth Customer Experience
Magento has been adopted widely by both B2B and B2C businesses because of its smart search feature and various customized extensions. AI in Magento will amplify its context-based search functionality to enhance the consumer experience. Therefore, AI-based smarter search results make store navigation quicker and user-friendly.
Optimized Customer Support with Chatbots
The eCommerce stores need to provide adequate information or responses to the user’s query in time. If you make them wait for a long time, possibly they may lose interest in purchasing the item. Moreover, in many instances, customers complain about the attitude of the customer care team, which adversely affects the reputation of the e-commerce store. However, deploying Chatbots on the Magento store addresses both the issues by providing faster, valuable, and accurate customer support solutions round the clock (24*7).
Virtual Shopping Assistants
The purchasing assistant of AI technology is a highly promising entity that is getting immense popularity. It is a new opportunity that AI is set to integrate for Magento stores and is yet to be released fully.
The purpose of developing a purchasing assistant is to help customers make a purchase decision faster. For instance: Users can avail advantage of mobile phone’s camera feature to click the images of the desired products and search similar items instantly.
Moreover, it enables us to cut down the time spent by shoppers in making a particular purchase. It monitors, analyzes, and keeps track of upcoming deals, changes in prices, newly launched products, and more. Moreover, these virtual assistants will be able to add the wish list products to the cart and perform the checkout process seamlessly on the buyer’s behalf if the user has instructed an AI-powered purchase assistant.
Facilitates Buying Decisions
It is another way in which AI will assist you to boost your Magento store by promoting buying decisions. Many surveys indicate that prospects spend at least 15-30 minutes researching online before making a purchase decision. And this time spent is the perfect opportunity for eCommerce businesses to popularize the brand by reaching the target audience and engage with them to boost conversions. Artificial Intelligence technology provides complete data and analytics to help you leverage the opportunity to keep an eye when the buyers are more likely to take the next action toward the purchase process.
Prevent Frauds
Accepting online payments and financial transactions is a significant part of the e-commerce industry, and with no surprise, digital purchases are more prone to cyber-attacks and frauds.
You might be thinking about how AI can help in this regard? Integrating AI with the security criteria of Magento’ addresses this challenge in the following ways:
• Reduce false positives with behavior analysis
• Boost human decision making with increased precision
• Adapt new business lines with experiential data
• Reduce manual inspection through fast iterating machine models
So, with this, we hope we were able to provide you with adequate information about how artificial intelligence is revolutionizing Magento powered eCommerce store. If you’re looking for custom Magento development to amplify the business conversion of your eCommerce store, consider hiring a team of experienced Magento developers.
eCommerce shopping concept -DepositPhotos
