Artificial intelligence is here and is already having an impact in many industries. According to IDC, global spending on artificial intelligence systems is forecast to reach €31 billion in 2019, a 44% increase from 2018 spending. For any business that hasn’t started its AI journey, it’s time to look into the opportunities it provides.
This is because AI is revolutionizing every industry and sector, including the retail customer experience. Still, a lot of people are still not aware of the effects of AI or do not understand the scope of its applications. From helping customers find items through visual search to customizing their entertainment experience through chatbots, AI is revolutionizing the retail industry in a number of ways.
Companies are also increasingly pouring huge amounts of money into AI to stay on top of their game. Artificial Intelligence is becoming the starting point for retailers due to the efficiency it brings to operations by replacing human beings. Humans are prone to mistakes, but AI can help eliminate the inefficiencies that humans put into operation. It can minimize the need to do repetitive tasks by automating the process and improving performance.
Here we present the different ways in which artificial intelligence is already affecting the Customer Experience (CX) in millions of consumers.
Personalization is an integral part of the customer experience, and companies are looking for ways to individualize all stages of their customer journey. However, there is frustration among consumers who have to search for a long time to find useful and tailored content. As a solution, AI can help create and update content personalized to specific customers. It can spot common phrases and words related to specific issues in support tickets and ultimately make content optimization recommendations.
Artificial Intelligence can assist retail companies in better accumulating and organizing their customers’ big data. Using this data, AI can reach conclusions and create a more tailored shopping experience for users. When you have users’ data, you know what they like — this helps create a more engaging experience for customers based on their interests and tastes. Additionally, retailers can predict a product’s performance in the market by learning from the past, helping them make better strategic decisions.
#ai #market intelligence #shopping campaigns #ai software
AI is taking over many industries and the retail customer experience is no exception — learn how this technology continues to change business models.