If Artificial Intelligence (AI) still sounds like science fiction to some, it can already be found in all aspects of life. From automatic cash registers to airport security, AI is now slowly taking over the e-commerce business.
This graph represents the ranking of the the perceived beneficial uses of AI in French online retail businesses in 2019. For over 90 percent, the ability for e-marchants to use Artificial Intelligence (AI) would involve the possibility of aggregating a large amount of data (number of page views, previous purchases, etc.) and to make predictive purchase analysis more efficient and in turn, increase the turnover (82 percent). AI would not just be benefitial for consumers, but with Internet solutions moving at a high pace, new technologies come with cyberthreat opportunities. For France, AI could serve as an opportuniy to ensure cybersecurity within companies.
New technologies in e-commerce
Another implication of Artificial Intelligence for e-commerce is the Visual Search, a technology that involves recognizing a product through a picture. This technology is starting to finds it's place on social media selling platforms. Likewise, with the new Voice Search feature through smartphones or indepedent Voice Assistant, AI helps to better understand the customer's spoken phrases in context, interpret them and redeem the right product from the e-merchant. Furthermore, AI would help set up learning mechanims to enlarge the virtuous circle of shopping personalization, even though around 40 percent of the French population expressed being absolutely not interested in virtual personal assistant systems to buy on the internet (e. g. through Google Home, Alexa from Amazon...). In terms of personalization of the online shopping experience, most of French online shoppers expressed their wishes to make the payment process easier and to stay informed about promotions and offers.
AI downfalls and prediction
AI is seeing a rather high level of trust from the consumers' side. Big companies have jumped on the same wagon, supported through a rise in research investments in the past few years. For the year 2023 the predicted AI investments was to attain 1.3 billion euros.
However, the implementation of AI is not self-evident for many businesses, as they state a lack of technological skills to choose and maintain the right AI solution (75 percent). The high cost of this modern applied science was named another downside to it's implementation.
The general feeling is that AI applied to e-commerce would increase the sites' profits while making the client experience better and the client happier. However, in order to achieve personalized experiences companies need to collect their client's data and how much of the French population would be willing to share their information?
People are epxressing their issues with giving away their personal data and are absolutely sure that big players such as Facebook, Amazon or Google are using that data. Some report that even though they have a problem with data collection, they still agree to it in order to gain personal profit from it. For the data introverts, around 20 percent would even renounce being part of the technology developement, even if it meant they had to pay more.
Ranking of the most positive uses of Artificial Intelligence (AI) in e-commerce in France in 2019, according to retailers
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Octopeek. (October 1, 2019). Ranking of the most positive uses of Artificial Intelligence (AI) in e-commerce in France in 2019, according to retailers [Graph]. In Statista. Retrieved August 10, 2022, from https://www.statista.com/statistics/1108452/artificial-intelligence-solutions-ranking-importance-france/
Octopeek. "Ranking of the most positive uses of Artificial Intelligence (AI) in e-commerce in France in 2019, according to retailers." Chart. October 1, 2019. Statista. Accessed August 10, 2022. https://www.statista.com/statistics/1108452/artificial-intelligence-solutions-ranking-importance-france/
Octopeek. (2019). Ranking of the most positive uses of Artificial Intelligence (AI) in e-commerce in France in 2019, according to retailers. Statista. Statista Inc.. Accessed: August 10, 2022. https://www.statista.com/statistics/1108452/artificial-intelligence-solutions-ranking-importance-france/
Octopeek. "Ranking of The Most Positive Uses of Artificial Intelligence (Ai) in E-commerce in France in 2019, According to Retailers." Statista, Statista Inc., 1 Oct 2019, https://www.statista.com/statistics/1108452/artificial-intelligence-solutions-ranking-importance-france/
Octopeek, Ranking of the most positive uses of Artificial Intelligence (AI) in e-commerce in France in 2019, according to retailers Statista, https://www.statista.com/statistics/1108452/artificial-intelligence-solutions-ranking-importance-france/ (last visited August 10, 2022)