How Flipkart Revolutionizes Online Shopping with E-commerce AI

XGen AI wants to give gen AI search to Amazon and Walmart rivals

However, applied in the Asian market, the AI solution may not be able to comprehend the localized dialect or slang of the same language. Sign up for acomplimentary subscription to Digital Commerce 360 B2B News, published 4x/week. Contact Mark Brohan, vice president of B2B and Market Research Development, at [email protected] and follow him on Twitter @markbrohan.

These tools also assist users in making better decisions related to the purchase of products or services. Conversational AI solutions have had a positive impact on businesses in several ways, prominently in improving customer experience. There is a one-time cost that has to be incurred by businesses toward the deployment of conversational AI chatbots, which are beneficial for them in a long run. The chatbots can enhance user engagement by resolving basic queries of consumers instantly and improve productivity by passing on complex problems to human agents.

Local SEO and its importance in voice search

Similarly, Sheth believes conversational AI can be combined with AR/VR or voice technologies to make the experience more immersive. “I believe collectively, we are accommodating consumers’ preferences to engage on their favorite mobile channels with a shift to messaging. In fact, consumers are spending nearly 70% of their time on mobile messaging instead of spending time browsing web pages. These interactions at scale have to be powered in an automated way [and] AI is the enabler,” he said.

Looking ahead, he emphasized that the predictive element of shopping is only going to increase — and will increasingly transform the commerce occasion. But that doesn’t mean that as generative AI gets integrated across more commercial marketplaces and into more user interfaces, its applications will be entirely risk-free. But while its impact has primarily been in the background of workflows, the emergence of generative AI has brought the technology’s impact starkly to the forefront of commerce, payments and the broader operating landscape.

E-Commerce Times Channels

Common objectives include order tracking, product recommendations, customer support, and lead generation. Drift stands out for its seamless integration into eCommerce websites, where it acts as a virtual extension of your team, qualifying leads, answering common inquiries, and even scheduling appointments. Its AI capabilities allow real-time, personalized interactions that drive customer satisfaction and sales. Businesses can also leverage Drift’s real-time notifications to alert sales teams of hot leads, allowing instant follow-ups. Zorang, a content and commerce company, has released ContentHubGPT for Walmart Marketplace. This generative AI-based content suite allows Marketplace sellers to create engaging story-like descriptions for their product content.

Bloomreach has a client base of more than 1,400 global brands, including Williams-Sonoma, Bosch, Puma and Marks & Spencer. At Netguru we specialize in designing, building, shipping and scaling beautiful, usable products with blazing-fast efficiency. Moreover, it seamlessly integrates with a variety of home devices, enabling users to control their lights and thermostats. Kasisto Co-Founder Zor Gorelov, who had been serving as the company’s CEO, will transition to a senior adviser role while remaining a “significant shareholder” in the company.

Regional Insights

When a user enters a prompt, the chatbot leverages AI technology to understand user input, process information, and generate an appropriate response to help the user achieve tasks or obtain information. Dialogflow from Google Cloud is a natural language platform to design and integrate a conversational user interface into your mobile app, web application, device, bot, voice response system, and more. Dialogflow can analyze multiple input types from customers, including text or audio inputs (from a phone or voice recording).

How AI-powered conversational commerce will transform shopping in 2023 – VentureBeat

How AI-powered conversational commerce will transform shopping in 2023.

Posted: Tue, 10 Jan 2023 08:00:00 GMT [source]

Advancements in technology, particularly in understanding human speech, have fundamentally shifted the shopping journey into a straightforward dialogue between retailer and consumer. This consistency significantly aids voice search algorithms in aligning queries with relevant local businesses. Leveraging platforms like Google My Business and other local listing platforms is a fundamental aspect of achieving this. The beauty of these voice-first platforms lies in their inclusivity and accessibility. They pave the way for a broader demographic, including individuals who may face challenges with conventional interfaces due to disabilities or language barriers. Moreover, these platforms will prove invaluable for users who aren’t proficient in the language being used or for technology that struggles with cultural nuances and complex terminologies.

As a result, some of the biggest AI model developers are now facing lawsuits, while the industry at large faces growing attention from regulators. By linking conversational AI with generative AI, the chatbot can understand everything sent to it. You can put guardrails around it so that it only gives answers based on what you want to ground it on. Despite all the hype about generative AI’s need for more guardrails and not divulging personal data, most everybody now has some sort of agent copilot and agent system to use with it, offered Ranger. In addition, it is applied as a coach in between sayings to understand the customer’s intent.

“We have seen a huge demand now for the traditional sort of conversational AI products to solve a specific problem within a business. We are seeing that in retail, but universally across the board and in retail, it is mostly around customer service, post-sales,” he noted. This year, people are beginning to understand the difference between what was always called conversational AI, which is structure-built chatbots and voice bots doing a specific task, and tasks powered by generative AI. Now, recent advances in ChatGPT and generative AI for the first time have given corporate executives hands-on experiences with the technology themselves, observed Alan Ranger, VP of marketing at conversational AI developer Cognigy. That exposure has solidified their recognition of its highest value for customer service and experience.

A common application among many businesses is the personalization of product recommendations, which offers the ability to both increase average order value and decrease cart abandonment rate. Offer fast and personal support for your products and services— naturally, this type of customer service almost always leads to a sale. Automate FAQs, but also advanced conversation flows to be 24/7 avaible for your customers.

Assistive Agent Systems Improve Human-AI Collaboration

In January 2024, Walmart leveraged Generative AI to enhance its customer experience, building upon a long history of AI/ML in retail. By understanding customer needs through NLP models and leveraging its vast data, Walmart can personalize product recommendations and streamline the shopping process. Walmart’s GenAI Search allows customers to express their needs in natural language, generating comprehensive product lists and simplifying the decision-making process. This technology aims to save customers time and effort, enabling them to focus on enjoying life rather than spending hours shopping. AI chat enables customers to have natural language conversations with a virtual agent, which can get them to answers they need to questions surrounding order status, product-specific questions, and things of that nature.

AI can also automate routine tasks, streamline workflows, and provide valuable insights into your customer service operation. You can deploy AI chatbot solutions across multiple channels, including messaging apps such as Messenger, WhatsApp, Telegram, and WeChat. AI chatbots can support conversational commerce by meeting consumers where they are online and offering a seamless experience.

SoundHound AI acquired enterprise artificial intelligence company Amelia, saying the move will expand its conversational AI capabilities to new verticals and hundreds of enterprise brands. Companies have been using machine learning to detect security threats and vulnerabilities long before the rise of generative AI. Systems powered by natural language processing (NLP), behavioral and sentiment analytics and deep learning are all well-established in these use cases. But they, too, present ethical conundrums where privacy and security can become competing disciplines. The majority of applications target customer questions about order status and returns.

Building a good relationship starts with a good first impression but continues with positive and efficient interactions. Rufus will then suggest product categories, provide helpful information, and share related questions from other shoppers. In essence, Rufus aims to enhance the shopper experience by consolidating research and purchasing into one platform. At its bi-annual Editions conference, the e-commerce company announced an expanded set of features under Shopify Magic, Shopify’s catch-all brand for generative AI.

The new Instacart Storefront is built on the same core infrastructure as the Instacart app, and gives retailers access to features powered by what the company says are 150 proprietary AI models. Its AI-powered conversational on the new Instacart Storefront allows customers can ask open-ended questions such as “What do I need to make fish tacos? The update includes conversational search powered by OpenAI’s ChatGPT as well as proprietary AI models. Instacart also announced AI upgrades to its smart carts, called Caper Carts — the company acquired smart checkout startup Caper AI in 2021 for $350 million. The trajectory of online retail and voice search commerce strongly suggests the imminent emergence of voice-first shopping platforms.

• Back then, the buzz around large language models hadn’t yet taken off as they have now — and DXwand aimed to create a knowledge graph that eliminated the need for customers to label data manually.
• In a high-stakes environment for the trillion-dollar global retail e-commerce market, where escalating customer acquisition costs (CAC) threaten profitability, brands need data-driven solutions to grow efficiently.
• By understanding customer needs through NLP models and leveraging its vast data, Walmart can personalize product recommendations and streamline the shopping process.

As a prominent player in India’s e-commerce sector, Flipkart makes substantial investments in AI, machine learning (ML), data science, and other cutting-edge solutions. Mastercard and Worldpay are enhancing the transaction experience by helping merchants resolve payment disputes faster and with fewer chargebacks. Through the partnership, Worldpay, a global payment technology provider, will offer Mastercard’s Alerts to its 1 million merchants worldwide. The service provides an early warning that helps prevent a dispute from becoming a chargeback, reducing fraud. TreviPay, a B2B payments and invoicing network, has announced a self-financing option and enhanced payment application features to give sellers more control over their trade credit portfolio. If an out-of-date inventory or lead product information has errors, even an excellent search engine will not be able to show the right products.