Artificial intelligence is increasingly evolving in different fields of application from one another. From Microsoft to Google, through Facebook or Apple, all the big companies regardless of sector are now trying to solve the problem of artificial intelligence, trying to apply it to some specific area. For retailers, artificial intelligence is a real opportunity to improve the performance of their e-commerce platforms.
Faced with new problems such as pandemics, globalization and new consumer expectations, specifically in terms of carbon footprint and environmental impacts, retail trade must thrive and respond in a concrete way. Tools such as artificial intelligence are being developed to address these challenges. Adoption, deployment, expectations and barriers are the new topics that retailers are asking.
90% of retailers believe that artificial intelligence is essential to update, manage and enrich their customer databases and will be essential to implementing customer satisfaction policies. E-merchants must adapt to new consumer trends and their preferences to be more and more eco-responsible. The movement has both already begun for some of them who use artificial intelligence to figure out the new aspirations of their consumers. The system allows them to stand up and adjust their offers over a long period of time.
What is AI?
So far, it’s hard to have never heard of it, AI (Artificial Intelligence) also known as Artificial Intelligence is attractive because of its efficiency and tendency to implement technologies designed so that machines can mimic some form. of true intelligence and contribute to the work done by man.
Artificial intelligence is increasingly evolving in different fields of application from one another. From Microsoft to Google, through Facebook or Apple, all the big companies regardless of sector are now trying to solve the problem of artificial intelligence, trying to apply it to some specific area.
Many actors built an artificial neural network consisting of servers and made it possible to process a large number of calculations in a large database.
Although artificial intelligence is gradually developing in various fields, the retail field is no exception. We see AI in areas where data analysis is for forecasting purposes, customer relationships, automation of deliveries or even competitive intelligence, etc. is important.
AI in the field of retail, what are the expectations of retailers?
The first point most retailers expect in developing artificial intelligence is inevitably to improve their e-commerce platform and 98% of them are convinced that it will work! and 62% of them, in a very significant way. (fonte: OpenStudio study)
As you understand, expectations are high and will be a priority in the coming months.
Other expectations we saw: time savings. Time savings through automation are expected at 84%.
Strictly followed by the reality of the desire to facilitate decision making thanks to analyzes made in real time by AI at 83%.
The logical reason for these expectations, the increase in turnover to 81%, the improvement of customer relationships to 43% and also the fact of the desire to secure the payment process on e-commerce platforms in 39%.
What solutions for retailers thanks to AI?
In addition to the previously stated expectations, retailers did not hesitate to request the implementation of artificially intelligent solutions, which is also a priority and necessary.
Here are the 8 main positions where AI is needed:
- Updating, managing and enriching customer databases
- Prepare orders and delivery in an automated manner
- Detect fraud and anomalies to make payments more secure
- Understand, model, predict the different buying habits of Internet users
- Synchronize information such as item prices
- Synchronize updates to magazines, catalogs and advertisements across all third-party applications (ERP, marketing tools, etc.)
- Forecast and evaluate sales and manage inventory in real time
- Streamline and simplify the customer journey to get better satisfaction
For retailers, artificial intelligence is a real opportunity to improve the performance of their e-commerce platforms.
How can AI meet the new expectations of environmentally responsible consumers?
Today, artificial intelligence is evolving rapidly and faster and faster. It promises retailers that it will not disappoint dedicated consumers with 5 responsible digital solutions:
- Have an eco-design approach to site optimization
- Use public and accessible artificial intelligence models without sacrificing quality
- Have a site hosted in a green center
- Have data stored in eco-datacenters
- Offset carbon emissions generated by customer orders
Obviously, these solutions are still under study but allow us to envision a better future.