The growth of AI has been well documented over the past couple of decades, and there are predictions about the workplace will be taken over by robots.
Chatbots have become a theme that was ubiquitous across every customer-facing business, as companies explore how they can incorporate the technology into platforms and their services, cutting costs and shaking their customer support function up .
As consumers have embraced the convenience of ecommerce discussions are taking place online. With an IBM survey revealing that 65 percent of US millennials prefer going on the internet to find support, rather than speak to staff in-store, it’s clear that there’s a function, and desire, with this technology. So just how do chatbots, and different areas of AI, make shopping a better, simpler and more enjoyable experience?
Experimenting with personalisation
One of the main appeals of AI is its ability to measure and track shoppers’ behavior, and adapt the customer travel to offer a heavenly experience.
If brands can monitor price points, or the style, their customers are looking at, they can highlight new products and services that may improve spending — as well as demonstrating they know what their customers are searching for.
The main allure of AI is its ability to quantify and monitor shoppers’ behaviour
Personalisation is important. According to an Accenture report, customers are likely to buy from a merchant which recognises them by title or urges options based on previous purchases.
A great example of this is Amazon’s “frequently bought together” and “customers who bought this product also purchased” prompts. These help to lure customers to spend more; a report by McKinsey estimates 35% of Amazon’s customer purchases come from merchandise recommendations based on calculations that are these.
Lingerie companyCosabellahas also been experimenting with algorithms employing the Sentient Ascend platform to examine choices for its website design dependent on the conversion rate. According to the marketing director, Courtney Connel of the brand, the testing promptly led to a increase in earnings.
The power of voice technology
Retailers are prompted to capitalise on the tendency of consumers turning into technologies in their everyday lives. Apple’s Siri has been leading the way in Natural Language Processing (NLP); acting as constant companion to help individuals search online, set reminders or tell them what song is playing.
It’s estimated that Siri handles more than two billion commands and 20 percent of Google searches on handsets in America are inputted by voice.
It’s estimated thatSiri handles over two billion orders a week
Amazon is currently leading the way for evolving folks engage with AI technology.
The industry has impressed; it was voted the number one product for invention in our Digital Innovations Retail Report 2017. Along with the company recently announced the launch of Amazon Look, which has all of the performance of its Echo merchandise — and can also be able to take photographs of the user via voice control, and provide design recommendations through a combination of machine learning and advice from specialists in the design area.
This personalised service is a step since it evolves with bringing the encounter — fashion advice and recommendations — to clients’ homes.
How can AI impact work in retail?
The potential for AI to improve the shopping experience for clients, whether online or offline is large. However, the fact is that it’s inevitable some jobs will end up as, or repurposed, replaced technology advances to the point at which it can perform tasks more efficiently than individuals.
It is inevitable some retail tasks will become replaced, or repurposed
Dr. Keng Siau, chair and professor of business and information technology at MissouriUniversity, composed in a new study paper: “As robots get more intelligence and also have access to vast numbers of customers’ information, they could process the information much faster than individuals and will be able to serve each and every shopper in a personalised way. Humans might become replaceable.”
There is surely some truth in this when it comes to some aspects of customer service roles, as chatbots are utilized to boost efficiency and reduce costs; Juniper Research forecasts businesses which use automated customer solutions technology can save $8bn (#6bn) in costs every year across international company by 2022.
However, this has to be done in the ideal manner; research by RichRelevance revealed 42% of UK consumers believe client serviceis ‘creepy’ .
It appears hard to think that shop floor personnel could possibly become completely obsolete. It’s improbable that robots will reach this level of sophistication instantly considering it’s taken several tens of thousands of years for people to develop skills like empathy, compassion, and the capacity to pick up on the nuances of body language.
The future of AI
As brands experiment with using AI to enhance the shopping experience, it is an exciting moment for retail; which makes it easier for consumers to find and find products.
The retailers that will reap the rewards are the innovators that bring efficiencies into the consumer journey; delivering chatbot-fuelled customer support which could answer a broad spectrum of queries, and offering targeted personalisation in a way that is non-intrusive.
AI could possibly be doing things, but we’re still some way away from walking into a store.
