Artificial Intelligence is a new branch in computer science which aims in manufacturing intelligent machines that will think, work and react like human beings. In addition to AI, the rapid adoption of machine learning will fuel the growth of AI systems. The devices which have incorporated artificial intelligence can perform activities like learning, planning, speech recognition, perception, moving and manipulating objects and even solving problems. It is an essential part of our modern world, machines, and technology now. There are many specialized types of research going on artificial intelligence. Knowledge engineering forms the core of it. The machines are given sufficient information about the world so that they can behave like human beings and make decisions. To provide them with the required information, they need access categories, objects, relations, properties of different objects. It is a difficult task to initiate common sense in machines so that they can do basic reasoning to solve problems. Here are a few products and services powered by artificial intelligences also known as AI.
Virtual Digital Gemologist
Let’s face it most men need help shopping for a diamond and since the growth in the global jewelry market is being fueled by the shift to e-commerce it was only a matter of time for a luxury jeweler to create an revolutionary industry changing virtual gemologist. RockHer in Los Angeles with the help of Adam Stein created the world’s first AI powered diamond gemologist, named ROSI. The proprietary AI powered virtual gemologist was created for one reason and one reason alone. To help relieve the stress and uncertainty from diamond shopping, allowing customers to find and buy the best diamond for their budget. ROSI in real time calculates over 30+ proprietary dimensions and along with enhancements through IBM’s Watson AI technology, ROSI is truly changing the jewelry retail industry. RockHer brings the next-generation personalized online shopping experience to what’s been traditionally an antiquated and difficult purchase decision.
Searching easier than ever and customer-centric
Have you ever left any e-commerce site because you were searching for something and the results given were irrelevant? There are many businesses which have incorporated AI in search engines of the online shopping sites
to make them think human-like. These businesses use natural language processing to understand what users are looking for by making the text entered by the user precise. This helps in providing better results. Some businesses also utilize video and advanced image recognition and even pattern recognition to offer better results. All the features of the videos and images are labeled by AI so that they are tagged and organized.
Targeting the Potential Customers
Most of the online shopping sites have a lot of customer data which are not able to manage correctly to increase their profits. AI can handle all such data and enhance the income of the site. AI can use facial recognition techniques to record the time in which a customer spends on a particular item in the physical store. For e.g., if a customer spends a lot of time on the video games section, it suggests that he is pretty interested in it and this information is used when visits the store for the next time. With the help of AI, we can personalize the computer screen of the customer and show them ads, discounts on the product he spends most of the time in the store. Businesses can make the enormous profit via AI as it helps in reading the mind of the customers.
Solving business challenges
AI can address many challenges like lead generation using deep learning and timely intelligence features. AI can solve problems regarding marketing, CRM systems, and even sales even above a human level.
We have all seen the ‘chat now’ option in any shopping website. So, we are chatting with a bot online, which caters to our problem and answers our questions based on how it is programmed. And, know what? We can hardly even make a difference. With more number of people, it was becoming difficult to provide with 24/7 customer service. Chatbots are always available, and the experience is pretty good. It has improved over the time and is more intelligent and personalized nowadays. You can get information about your package, track it via this new advancement made by AI.
Customer Relationship Management
The predictive nature of AI has helped in CRM profoundly. We don’t need someone to maintain the long Excel sheets to predict who is likely to buy what. There are AI programs which are programmed to give out information regarding who is likely to purchase what from the store, once the data is fetched to it. Marketing focuses on quality now, and by serving relevant ads to the customer at the right time, sales and revenue could be increased.
We always don’t have words for what exactly we want. Imagine, you say someone is wearing something new, and you don’t know what it is called. We spend some time searching for it, but when we don’t get the desired results, we exit the site. To enhance the search results, AI allows the visual search. You can submit the photo, and with the help of AI, it will be analyzed, and better results will be provided.
Not just images, AI can also provide with search results based on what you ‘speak.’ Most of the web searches are done by voice commands nowadays. There are many assistants which work on speech recognition like Google Home
etc. which helps users to purchase things online by giving voice commands. Google Assistant also reminds you to repurchase some frequently bought items like toothpaste, and you can place the order via Walmart.
AI has benefited from online e-commerce sites and made our life simpler. Imagine having to type long words on what we want to purchase. It has become more comfortable now as we can either give voice commands or a picture of what kind of product we need. Gone are the days when we needed to spend hours waiting for someone to help with customer service. AI has bought a new era of online shopping.