Artificial intelligence has been the buzz for many years now, and unless you are living under a rock, you very well know what it is. The Artificial Intelligence or AI technology has been leveraged in many aspects across industries and businesses. What can / has it done to the E-commerce industry thus far?
Most of the E-Commerce app giants that offer product recommendations are enabled by AI technology. These E-Commerce giants manage to upsell and cross-sell products on their websites purely using the AI recommendations and machine learning technologies.
E-Commerce start-ups depend on the card-not-present payment mode for their transactions. This payment mode poses an underlying threat for data thefts or hacker attacks.
There have been numerous cases of credit card compromise in the past. Millions of cardholder’s data has been hacked resulting in huge settlements and big loses to the industry. Going through data theft is time-consuming and burdening on both the customer and the E-Commerce business.
The recent years has seen an exponential growth in E-Commerce and has led every business to make it mandatory to have one. The fear of the pandemic also had the consumers lean towards E-Commerce and shop differently. These factors multiplied the number of businesses moving towards the E- Commerce way. It’s safe to say then, that this trend is going to stay and be the new normal for many businesses henceforth.
Building an E-Commerce website will prove to be a necessity for some businesses; for example, a direct-to-customer business. Their E-Commerce website will be the new platform to connect t...