1. Personalized Product Recommendations:
Personalized product recommendations use data from past customer behavior, browsing history, and purchase history to suggest products.
2. Chat Bots & Virtual Assistants:
Chatbots and virtual assistants can act as customer service representatives for your ecommerce business, helping field customer queries and facilitating online shopping by providing tips.
3. Inventory Management:
Use AI to predict demand and optimize inventory levels. This can reduce overstocking or understocking issues, improving supply chain efficiency.
4. Dynamic Pricing:
Dynamic pricing allows you to adjust your prices and offerings based on real-time user behavior, global supply and demand, and competitors. With the power of AI, you can anticipate optimal discounting opportunities and dynamically determine the minimum discount required to drive a successful sale.
5. Generative AI:
Generative AI is an artificial intelligence system that generates text, images, or other media based on prompts.
6. Recommendation Engines:
Develop recommendation engines that suggest complementary products to enhance the shopping experience.
7. Fraud Detection & Prevention:
Incorporate AI-powered fraud detection systems that analyze transaction data and user behavior to identify and prevent fraudulent activities, protecting both your business and customers.