Press "Enter" to skip to content

Retailers can handle the Holiday Rush with Artificial Intelligence

Artificial intelligence will play a significant role in your Christmas online shopping adventures. That’s because AI is being used by 81 percent of online merchants to improve sales ahead of the holiday season. These companies, according to VentureBeat, have expanded their spending to do precisely that. The companies in question are categorized as small to medium-sized businesses that may not compete with online shopping behemoths like Amazon. Instead, enterprises harness Artificial intelligence power to assist manage their supply chains, protect against e-commerce fraud, and even boost total sales.

With the help of Artificial intelligence, a few retailers are anticipating sales increases of up to 40%. However, this isn’t the first time corporations have used Artificial intelligence to aid their e-commerce endeavors. For example, in June, Walmart developed an program, claiming that it might provide “smarter” solutions to retailers and grocery shoppers.

AI can give individuals better grocery options and streamline the entire shopping experience by predicting consumer habits, requirements, and wants.Using Amazon as an example, an analysis by the business Anodot could help explain how. For Amazon, thealgorithm is mainly used to recommend relevant products to users who have purchased items in a given category. “People who bought this also bought that,” or something like that.

This is known as cross-selling and upselling, and it accounts for around 35 percent of Amazon’s staggering income figures. Apart from that, Artificial intelligence may assist in detecting fraudulent transactions, the generation of automated product descriptions, and even the forecasting of overall revenues.

Be First to Comment

Leave a Reply

Your email address will not be published.