Whether or not consumers are aware, artificial intelligent technologies are on the horizon. Artificial Intelligence is slated to be integrated in as many areas of human life as possible. Areas such as healthcare, commerce, online interactions, customer service, social media, education, resource development, and societal welfare should expect to see artificial intelligence in their fields. One of the most exciting areas to expect artificial intelligence is in E-commerce Personalization. At the present moment, online commerce has been stuck in the past; only able to dignify itself with tools and resources from previous generations. Artificial intelligence in E-commerce Personalization is looking to change that.
Shoptalk Europe is an annual event where thousands of people from all over the globe meet and discover new advancements in technology. It was at this year’s event that the term ‘artificial intelligence’ broke ground to gain traction. The most notable discussion of artificial intelligence centered around the technology being used in electronic commerce or e-commerce. Presently, buying and selling goods and services online has been the same since the 1990s. Artificial intelligence in e-commerce is looking to change that.
Innovators at the event boasted about how artificial intelligence will create a more engaging interaction with consumers. Everything from visual searching, to machine learning, to natural language processing was covered during the event. All of which will help facilitate a personalized and intimate experience for customers and consumers.
Technology giants Alibaba, Google, and Westfield all sent speakers to engage on their behalf about artificial intelligence in e-commerce. Many of these companies project that by the year 2020 over 80% of consumer interactions and sales in retail will be facilitated and managed by artificial intelligence. Along with that, more than 25% of retail companies are expected to employ artificial intelligence systems to focus on the task of their primary sales.
eBay’s chief product officer, RJ Pittman wants to put artificial intelligence front and center as the focal point that will make e-commerce personalization happen. Other notable figures in technology and retail gave the same impression. One that would suggest that artificial intelligence is going to be an integrated part of life sooner rather than later.
Numerous speakers mentioned how retailers were not expected to be interested in artificial intelligence in e-commerce until the year 2020 or 2025. However, trendsetters in technology are presuming the next five years be a major jumping point to integrate artificial intelligence. They have acknowledged that there is a steep curve to get over to make this work. However, the sooner retailers get consumers acclimated with using AI in e-commerce personalization, the better off consumers and retailers will be.