Let us start from the very beginning. Artificial Intelligence has evolved over a period of time.<\/p>\n
In the 1950\u2019s AI started off as a program that could sense, reason, act and adapt.<\/p>\n
In the 1980\u2019s, came \u2018Machine Learning\u2019. Now computers began to learn without being programmed.<\/p>\n
Come 2010, \u2018Deep Learning\u2019 allowed machines to mimic the way in which the human brain works.<\/p>\n
The last stage of AI\u2019s evolution, deep learning, is what makes AI invaluable for e-commerce. Machine learning that can not only analyze customer data but use that data to anticipate customer needs in order to create personalized experiences. Today, artificial intelligence provides personalized experiences for customers across devices and is revolutionizing both, conversations and content.<\/p>\n
Using AI and Big Data, businesses can monitor their competitors\u2019 product mix and marketing strategies. AI provides businesses the ability to adjust their own product-mix and pricing in real time with high accuracy – an impressive competitive advantage that provides complete visibility into what products are being offered in the market. The intelligent software puts retailers in a strong position to make specific assortment and planning decisions, and track the business impact of those actions.<\/p>\n
E-commerce sites now have the ability to harvest products data from competition sites and find the best price for all SKUs. They can, therefore, offer a \u2018Best Price Guarantee\u2019 and improve sales turnover. The ability to harness data is enabling masses of big data to be utilized to form actionable customer segments and individual offers and incentives to increase sales and customer retention.<\/p>\n
While the potential for AI in e-commerce is boundless, most e-commerce companies are focused on AI for online shopping. Here are some of the benefits of using AI in your e-commerce site:<\/p>\n
AI makes it possible for e-commerce retailers to analyze millions of interactions every day and ultimately target offers down to a single customer.<\/p>\n
Cyber Gear is now offering an AI-based technology solution called sbot which can help e-commerce companies increase their efficiency and profitability.<\/p>\n
4 PILLARS OF SBOT<\/p>\n
sbot can collect terabytes of data from a variety of sources, including web portals, social media, and information from in-house data.<\/p>\n
Data streams in at an unprecedented speed and is dealt with in a timely manner. sbot deals with torrents of data in near-real time.<\/p>\n
Data comes in all types of formats \u2013 from structured, numeric data in traditional databases to unstructured text documents, email, video, audio, stock ticker data and financial transactions.<\/p>\n
We have achieved almost 99% accuracy of data based on our AI-based algorithm for cleaning data. sbot intelligently connects and correlates relationships, hierarchies, and multiple data linkages.<\/p>\n