March 05, 2022

How AI can impact your business

By Veronica Jeans, Shopify Queen & Bestselling Author
How AI can impact your business

 

It won't be long before AI takes over the world, and we all know it! You, like us, probably know that AI is already behind our more insightful Google searches and the helpful features in Amazon's Alexa. But did you know that it's also poised to have a big impact on your online business?

AND, it really is not going to take over the world :)

Join us to find out how AI can help in your business and maybe get more sales!

Have you ever felt like you need an AI to predict customer needs? Are you a business owner who has written off your online store as too complex and boring? Do you need help creating a better user experience for your customers?

The use of Artificial Intelligence (AI) and Machine Learning has been a major player in the technology sector over the last few years. It’s used everywhere from photo tagging on social media to providing better search results online. There are plenty of ways it can be used to improve your online business website, but what can you actually achieve? To help you understand more about AI and where it’s heading, I’m going to provide some examples of how it works for businesses, both big and small.

Artificial Intelligence is now causing a major shift in the way businesses do things. Many experts are saying that this will be the beginning of a massive paradigm change. Everyone knows about self-driving cars, Siri, and similar technologies; but the real changes have yet to occur on a wide scale. The next big impact of AI will be felt in the business world.

The focus on AI is in part, due to its potential to help businesses improve their customer service, reduce costs and create new revenue streams. But for many businesses, AI is still a mystery. They know it's important but can't explain how it works or what it does. So let's break down AI into baby steps so business owners can understand how it will impact their online business.

So what is artificial intelligence?

At its most basic level, AI is simply the ability of a computer program to recognize patterns in data and use those patterns to make decisions. The most common example of this is spam filters. While computers have been able to check email for spam messages for decades, it has only been recently that they have become sophisticated enough to not only identify spam but also separate legitimate messages into individual categories such as personal correspondence, newsletters and business emails.

Truck drivers are one example of how AI will change the economy in the next few years. Driving trucks is incredibly dangerous work with an accident rate that is more than 10 times higher than for other jobs. And it has to be done 24/7 because of the demands of the shipping industry. If truck drivers were robots, these problems would go away.

How AI can help ecommerce

Treating your business like an app store is trending in the business world. If you're an entrepreneur looking to get into e-commerce, this means figuring out exactly what your customers need, and then making sure you have many options for them to choose from to make the buying process as simple as possible. You can't do that without having a lot of inventory ready to go on your virtual shelves.

How can you use AI to improve conversion rates and get more customers through the door? One way is by providing better user experience with faster websites.

No matter how you define AI, it's been a part of our lives for a long time. From the earliest thermostats to today's self-driving cars, AI technology has made life easier in many ways. Now businesses are beginning to see AI as a technology they can use in their day-to-day operations. AI will impact businesses in many ways — from improving customer service, engaging with customers and predicting customer behavior to improving online security and reducing costs. Some of these innovations are already being implemented; others might take a few years to fully develop. All of them will have an impact on the way people do business on the Internet.

As we know, artificial intelligence has been vastly researched and developed for over the last 50 years. And it could help an online business to improve conversion and generate revenue for e-Commerce.

As you can see, the potential for AI to impact your online business is huge. And with businesses looking for all the help they can get these days, it’s no surprise that AI is becoming a popular tool for so many companies out there. But as noted above, AI is still a work in progress. However, as this technology continues to grow and evolve, we should be able to look forward to even greater improvements down the road for AI.

 How to use AI for automation

Automation will do more than streamline your workflow. It has the power to transform how customers interact with your business, helping them to make more informed decisions and offering them a more personalized shopping experience. To reap all the rewards that AI has to offer, you need to start by looking at what technology is currently capable of and asking how it can best fit into your current operations. In this way, you’ll perform due diligence as an entrepreneur, while leveraging a revolutionary tool to propel your business forward.

It is hard to determine exactly who your customer is and looks like

It all starts with gathering data. Companies don't know who their customers are or what they want unless they have the data to back it up. Companies can use AI to figure out what their customers' common traits are, where they tend to fall in terms of age, income level, and personality type, and how much their customers spend on average when they shop online. Companies use this data to identify potential new clients as well as current customers who might be interested in new products or services. Then companies can reach out to these people with relevant content.

Use AI to predict customer needs and improve the conversion process

1. AI makes predictions based on user data to predict buying behaviors.

The eCommerce industry is highly competitive and there is increasing pressure on companies to offer personalized online shopping experiences for their customers in order to increase sales. Artificial intelligence enables eCommerce sites to collect data about customer behaviors and patterns which helps them engage with customers at the right time and place with the right product or service.

2. Make customer tasks as simple as possible.

AI can also help businesses optimize content based on insight of customer personality. For example, if AI notices that a specific customer has been reading about dieting and weight loss tips, it can serve them ads for weight-loss products. The possibilities are endless!

3. AI will help online businesses to create a better user experience with faster website load.

By utilizing AI, you can also create a better user experience with faster website load times. Given that most people have a short attention span when it comes to consuming digital content, slow loading times can cause them to click away before they've had a chance to explore all of your offerings. By taking advantage of AI-powered technology that manages website speed, you'll be able to compete against other companies who are offering the same type of content—and even those who offer other types of services altogether.

4. Optimize content based on the insight of customer personality

What if you could use AI to predict what your customer needs, and tailor your services to meet those needs? Predicting Behavior AI can make predictions based on user data to predict buying behaviors. For example, if your company is developing a new clothing line, AI can help you predict which styles will be most popular with your customers. You can then use those predictions to save time in the development process.

5. How artificial intelligence can generate relevant content

How can AI help online business owners stay relevant in such an oversaturated market? Well, it comes down to one thing: personalization. Yes, we're all sick of irrelevant ads popping up on our search engine results pages (although, to be fair, they probably work better than most of the content publishers who pay for them), but the fact remains that when something feels tailored to our needs and interests, we respond—and respond enthusiastically. That's why companies are turning to AI to lead their marketing efforts. And when the personalization takes root at a deeper level—for example, in online shopping—the results can be truly outstanding. How will this happen? It all starts with predictive analytics and machine learning

How an AI replacement for a customer support agent can convert customers

helps customers find the information they need

 

How artificial intelligence can generate relevant content

Artificial intelligence is already being used to create and promote digital content. This involves writing text and optimizing images, as well as promoting them in a way that reaches the right audience. The AI is able to recognize patterns and make predictions based on them. It also has access to big data sets that it uses to learn from what works and what doesn't. The results can be very effective in helping readers find exactly what they are looking for.

AI can replace customer support agents A human customer support agent needs to have empathy, be able to listen and respond quickly, and have an understanding of the product or service being provided by the company. But machines don't have these needs. They don't need empathy or good listening skills because they are objective. Their algorithms tell them exactly what needs to be done with no room for emotion or other distractions. They can take care of customer issues faster than a human ever could because they never get tired or confused about anything related to their job. AI already

Chatbots have many advantages over human assistants: they work 24/7, they don't get tired, they can't make mistakes, they don't have mood swings and so on.

AI platforms can help businesses by creating content and increasing traffic using the following methods: Predictive content: AI helps create relevant content by analyzing consumers' previous searches and behavior. This allows you to provide a better experience for your customers, which will lead them to convert more often. AI will play a big role in the future of search engine optimization because of its ability to process large amounts of data quickly: This information can then be used to generate relevant, engaging content that will keep consumers interested long enough for them to convert.

content generation: Many of the most popular sites use AI to create content based on what people click and like. For example, Amazon uses predictive algorithms to determine which products are likely to be popular and puts them at the top of its search results. AI agents: Chatbots are one of the most common applications of AI in business. These programs can handle basic customer service questions and even answer more complex questions about products and services. They're used to replace humans in a lot of situations, especially when customers don't care about interacting with a human being and simply want their question answered quickly. AI-powered marketing: Marketing teams use artificial intelligence to make predictions about what people will buy next, then market those items specifically to customers who are likely to purchase them. For example, online stores might recommend products based on purchases made by other customers with similar buying habits.

 

The artificial intelligence makes predictions based on user data to predict buying behaviors. It helps to optimize conversion for e-commerce stores or improve the quality of leads for B2B. It can transform content into personalized information that is most relevant to users. The AI use machine learning to generate relevant content from different sources such as blogs, forums, news articles and more.

 

AI research focuses on these five areas: - Human Computer Interaction(HCI) - improving human-computer interaction by utilizing artificial intelligence. - Software Agents - agents are autonomous software entities capable of making choices and taking action in order to achieve goals in a specified environment. - Distributed Artificial Intelligence (DAI) - DAI is an approach to creating distributed systems which utilize artificial intelligence. - Natural Language Processing (NLP) - NLP refers to the application of artificial intelligence techniques to language processing. - Autonomous Systems - this refers to an area of research focused on creating robots capable of reasoning about their actions and some measure of autonomy using artificial intelligence

 

Walmart is giving its workers a new way — via voice-enabled mobile technology — to help shoppers while inside stores.

The app includes machine learning technology, designed so the tool’s accuracy and sophistication improve over time. Walmart tech experts also conduct manual reviews of questions ask via the app to spot trends, update the app and, when needed, improve store operations.

Trouble with generating relevant content

Content generation is difficult for companies because the content must be unique and engaging. Writing engaging and unique content is difficult for any writer. It's even more difficult when the writer doesn't have an understanding of the audience the content is being created for. A typical business model would be to hire a writer to create content based on keyword research. The problem with this is that if you write an article about "how to" do something, and someone searches for a different topic such as "why", your company will lose out on that customer.

AI can help you generate relevant content

There are a couple ways an artificial intelligence agent could help you generate relevant content. The first way would be to use machine learning algorithms that can scan blogs, forums and articles across the web in order to pull together information about a specific subject. The second way would be to create a chatbot using artificial intelligence technology in order to answer customer questions about your products or services in real-time during a live chat session.

 

A lot of people worry that AI will take jobs away. While AI certainly is capable of doing that, the people who work on building the technology don't necessarily see it happening anytime soon. The trend right now is to move toward using AI as a way to improve business processes by helping humans do their jobs better and more efficiently, which seems likely to lead to job creation rather than job loss.

 

How AI Can Help Your Business The first thing you need to understand is how AI can help your business. It's important to note that this isn't just about automating existing processes: AI can help you to develop new ways of doing things, too. In fact, a recent report from McKinsey found that around 80 percent of all tasks could be automated with existing technology. This figure is set to rise as algorithms become even more advanced and capable in the future. If you want to take advantage of the benefits that AI can provide for your business, then you'll need to understand exactly how it works. The good news is that it's not complicated: AI relies on inputting data into a computer and then letting it learn from the information which has been provided.

AI is going to have a huge impact on businesses. How? Just imagine your company's website as a storefront, and each visitor as a customer who walks in and wants to purchase something. Your storefront might be doing pretty well now, but it still needs some improvements if you want to keep up with the competition. Fortunately, AI can help. Just think—with AI helping out, you could answer questions visitors might have before they even ask them! That means you can be sure that every visitor leaves your site feeling like they got all their answers and had a positive experience. You could even predict which products are best for each visitor and show them accordingly! We're not saying it will be easy to make these changes—but it's definitely worth it if you want to stay on top of your game and grow.