The quest for enhanced shopping experiences is ongoing, and upcoming technologies are boosting it further. Artificial Intelligence (AI) seems promising to begin a new shopping era.
Bytes Technolab Inc is a tech leader in Magento development services. The team is going to open a discussion on how AI and its subsets of technologies, such as Machine Learning (ML), Deep Learning (DL), and Natural Language Processing (NLP), when integrated with the Magento 2 platform can result into an ecommerce solution with enough potential to begin new shopping era.
We will discuss what AI is, its subsets of technologies, and how their integration with Magento ecommerce can benefit future shoppers' online shopping experiences.
What Is Artificial Intelligence (AI)?
When computer machines imitate natural human intelligence by increasing their cognitive abilities to solve problems and make decisions a living human being can make, they are termed Artificial Intelligence or AI in short.
AI has three subsets of technologies, including:
Machine Learning
As its name suggests, computer machines learn and acquire knowledge by gathering, handling, and scrutinizing vast datasets using their algorithms.
Deep Learning
The algorithm enables computer machines to learn through previous experiences and mimic living human brains by creating neural networks.
Natural Language Processing
With the help of ML and DL, computer machines have started understanding, interpreting, and manipulating natural human languages—this process is called NLP or natural language processing.
How Can AI Integration with Magento Deliver Beneficial Impacts on Ecommerce Shopping Experiences?
AI and its subsets of technologies can have the following impacts on e-commerce shopping experiences:
AI Can Advance Product Search in Magento 2 Storefront
AI can profoundly impact product search experiences using the following AI features.
Understanding Customer Intent
AI goes beyond simple keyword matching using its NLP capabilities. So, it can comprehend the meaning behind a search query like an intelligent human. So, search engines can interpret slang, synonyms, and misspelled terms. Thus, shoppers can get the desired search results even if their search isn't perfect.
Search Context
AI has the capacity to grasp real search context and deliver highly relevant results. For instance, if you search for clothes in summer, AI will sort out lightweight and breathable clothes and display those products instead of woolen or heavy options.
Personalized Search
AI analyzes searchers' purchase history and buying behavior before producing results. Thus, searchers can get highly personalized search results matching their preferences.
Advanced Autocomplete
AI can make autocomplete suggestions more meaningful using its capacity to accomplish searches faster and with more relevant products. Autocomplete suggestions must be displayed within a fraction of a second, and AI can do it.
Voice Search
AI supports voice search using voice recognition software and rapid data search in Magento to provide elevated voice search experiences. Most of the mobile shoppers heavily rely on voice search today.
Synonym Recognition
AI can recognize synonyms of a word accurately in search queries using its NLP capacity. Thus, searchers can obtain highly relevant products in search results without using exact product names.
AI-powered Chatbot Provides Real-time Shopping Assistance to Magento Shoppers
AI-powered chatbots provide Magento shoppers with real-time shopping assistance by answering their queries quickly with or without human intervention using NLP technology.
Thus, shoppers can learn about products, sizes, prices, offers/incentives, returns, and other aspects with the required details and within their contexts.
Chatbot assistance is available round-the-clock and delivers exceptional shopping experiences to Magento shoppers.
Chatbots can provide personalized product recommendations to shoppers looking at their previous history and preferences. Chatbot also helps deliver real-time promotional messages, offering coupon codes or other incentives during checkout.
AI Enables Virtual Trails
Virtual trials or product testing virtually has become possible with AI technology. So, buyers can try products virtually before making a buying decision and reduce the chances of returns. Virtual trails give your Magento store a more interactive and engaging shopping experience.
AI Enhances Magento Security
Fraud Detection
AI can analyze real-time transactions on Magento and detect fraudulent activities using ML. It identifies unusual patterns and takes essential steps to prevent possible fraud in advance.
Mitigating Business Losses
AI can recognize the possibility of business losses in Magento e-commerce and take adequate measures to mitigate them.
AI Deals with Cart Abandonment
AI analyzes shoppers' real-time behavior and promptly deals with shopping cart abandonment incidents. It also takes measures to attract customers back by implementing effective strategies, including shooting social ads or email campaigns with personalization.
AI Automates Inventory Management
AI uses its predictive analysis capacity to predict future inventory needs and release orders to suppliers to keep adequate stock levels. AI also prevents overstocking and understocking conditions by analyzing sales patterns against seasonal or occasional changes. AI eliminates manual errors in inventory management and also optimizes stock levels.
Wrapping Up
AI and its subsets of technologies, such as machine learning, deep learning, and natural language processing, are emerging technologies capable of delivering exceptional shopping experiences when integrated with Magento 2.
The integration may benefit Magento's ecommerce business in many ways, including advanced product search, AI-powered chatbot, virtual trails, Magento security, and automated inventory management.
Of course, it's mandatory to have an experienced Magento development company on your side to realize the useful impacts of AI technology on your Magento 2 storefront.
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