Over the years, Magento has come ahead as one of the most preferred e-commerce development platforms. It offers a range of features and functionalities that online sellers can leverage for creating exceptional eCommerce stores. Simply speaking, it is one platform that you can rely on for creating the most amazing shopping experiences. Beyond the quintessential eCommerce functionalities, the platform also lets you empower your store with Artificial Intelligence technology. There are a number of AI-driven tools and extensions available in the Magento marketplace and you can easily use them to make your store smarter than ever. Before delving deeper into this connection, you need to understand how AI is all set to transform Magento eCommerce.AI and Ecommerce- A Disruption That Will Reshape The Industry
The hottest discussion in the e-commerce landscape right now is about how AI technology will reshape the industry. The continuous advancement in digital voice technology has made AI tools such as Siri, Alexa, and Cortana popular as shopping platforms. As a result, these smart assistants serve a huge potential for eCommerce sellers as well. Basically, AI proves to be helpful for eCommerce companies because it empowers the business to analyze the available customer data completely through the apt-AI software. The most amazing part is that everything is handled by technology, reducing human dependence to the minimum. No wonder, technology will disrupt the industry as a whole!
Magento And AI – What Lies Ahead?
As one of the most important development platforms, Magento has a vital role in the evolution of e-commerce. A large number of sellers are already investing in Magento 2 development today (considering the approaching deadline of the end-of-life for the 1 version), which signifies the trust for this platform. Magento already powers up millions of online stores and a major proportion of these support Alexa. This means that the platform is apt for developers looking to create AI-based online purchasing solutions. Let us see how AI and Magento make a potent combination:
Smoother Shopping Experience: Ecommerce shopping is all about convenience and this is the reason why shoppers prefer it over conventional commerce. With the integration of AI in a Magento store, it becomes possible to deliver even better experiences for the shoppers. Merchants can leverage it to bridge the personalization gap and deliver customer-centric marketing campaigns across multiple channels. The idea is to use AI for delivering the relevant message to the right customer at the right time.
Enhanced Search Functionality: Search is perhaps the most vital aspect of eCommerce development because only a store that renders easy searches is likely to be successful. A professional Magento development company would recommend the use of an AI extension to enhance this functionality. It is capable of focusing on the search’s context rather than depending on the keywords. Further, it uses Natural Language Processing (NLP), which serves multiple permutations and combinations of words and delivers results that are the best match for the user’s search intent.
Personalization With Chatbots: While personalized messaging and recommendations are one aspect of a better shopping experience, Magento AI renders a personal touch with smart chatbots as well. These are specific computer programs designed for conversing with human users. These applications help the business in understanding the specific shopping needs. They are smart enough to retrieve the customer-specific information such as product details, quantities, and shipping terms, which can be used to provide accurate answers to customers. Chatbots facilitate faster and better customer support as compared to contact forms, phone calls, and emails.
Faster Resolution of Complaints And Return Requests: Besides enabling personalized interactions through chatbots, AI also enables faster resolution of complaints and return requests. AI applications ease up the purchase process for the shoppers and also strengthen the customer support function. This is done with a set of predefined scripts that allow the system to handle the purchase-related and respond to the complaints and return requests. This leads to improved customer experiences, with the handling time reduced to the minimal and the satisfaction levels increased significantly.
Fraud Prevention: Perhaps the most significant aspect of running an eCommerce store is the security of financial transactions because online fraud and theft are growing in number. These significant challenges can be addressed by combining the platform’s strong security standards with machine learning. AI fortifies the store’s security by using behavioral analysis to identify false positives and enhance the decision making-process with greater precision.
Frequently Asked QuestionsWhat is Artificial Intelligence?
Artificial intelligence (AI) is a technology that enables the simulation of human intelligence for streamlining processes by machines, specifically computer systems. With this technology, machines are able to replicate human actions with applications such as speech recognition, natural language processing, and machine vision.
How does AI work?
AI combines massive amounts of data with rapid, iterative processing and smart algorithms, enabling the application to learn automatically from data patterns or features. It strives to facilitate human-like interactions with machines.
How is AI used in e-commerce?
The applications of AI in e-commerce are listed as follows:
• Recommendation engine for sending across contextual recommendations for the shoppers
• Personalization of the content that is visible to specific shoppers on the web store
• Machine Learning for enabling dynamic pricing
• Predictions using Machine Learning
• Enhanced searches based on shopping preferences and demographics
How does AI empower e-commerce marketing?
AI serves as an excellent aid for marketers in creating result-oriented marketing strategies. From automating tasks to analyzing data and facilitating personalization, there is much that AI can do for your eCommerce business. With this smart technology, it becomes possible to create a scenario that is relevant to the specific audience. Obviously, this makes conversions more likely for the business.
Considering the immense benefits that the combination of Magento and AI is likely to serve, merchants should make the move sooner rather than later. The best way would be to hire Magento developer with the right skills and experience. Look for professionals who can help you in integrating the apt AI-based extension into your store so that it becomes capable of delivering better user experiences. While any merchant starting with a new store should absolutely do it in the early stages of Magento development, the ones already operating can opt for integration of such an extension. At Magento India, we are Magento specialists who can help both new and existing businesses embark on this journey. Besides our development expertise, we also extend reliable Magento support to ensure that your store runs seamlessly throughout its lifespan.