AI in E-Commerce: The AI-Powered Virtual Shopping Assistant

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AI in E-commerce, virtual shopping assistant

In the dynamic E-commerce landscape, staying ahead of your competitors is vital to the business. To remain relevant organizations across the industries in the digital landscape have now started leveraging the power of AI. Naturally, E-commerce is not an exception either AI (Artificial Intelligence) in E-commerce is revolutionizing the industry, and organizations are now embracing the AI-enabled Virtual Shopping Assistants for staying relevant and up to the trend among Customers by harnessing the advantages of AI and Machine Learning.

This article delves into the game-changing impact of AIML-powered Virtual Shopping Assistants on the E-commerce industry and the future it defines.

How Virtual Shopping Assistants are changing the shopping experience.

According to Precedence Research, The global artificial intelligence in e-commerce market size reached USD 5.81 billion in 2022 and it is projected to hit around USD 22.60 billion by 2032, registering a CAGR of 14.60% during the forecast period 2023 to 2032.

Artificial Intelligence in E-commerce market Graphical projection

In this evolving AI Market Virtual shopping assistants (VSAs) are playing a pivotal role in altering the course of the E-commerce industry and leading it towards exponential growth, VSAs are revolutionizing the traditional tedious and disconnected online shopping experience, making it more interactive and conversational. With the power of Large Language Models (LLM), VSAs drive conversations seamlessly, offering a human-like interaction, these chatbots guide the users through their conversational path, understanding specific requirements just like an adept salesman, that optimizes the entire shopping journey from product search to checkout. 

This way the whole shopping experience becomes a lively conversation eliminating all the hassles of manual product search & shortlisting, and then a multi-step checkout process. As a result, it effectively reduces the cart abandonment issue and increases sales.

AI in E-commerce: Exei the Virtual Shopping Assistant Accelerator

Exei is an accelerator developed by Xcelore, for building virtual shopping assistants that possess all the qualities that can transform the entire shopping experience on your e-commerce platform. It puts an end to the hassles of online shopping such as tedious product search by ending the need to click open multiple tabs from selecting the product to checkout, instead, Exei brings all these multiple pages or tabs in one place, which is a chatroom where the customer can start a conversation with the virtual shopping assistant (Exei), this way the entire online shopping process turns into a conversation where it will personalize the product search & checkout journey according to the specified needs of the customer and present the tailored results as suggestions.

How does it work?

Leveraging Lllama-7b

Our shopping assistant utilizes the capabilities of Lllama-7b, a state-of-the-art open-source large language model boasting up to 7 billion parameters. By leveraging this advanced technology, our assistant enhances conversational skills, resulting in more dynamic and organic interactions with customers. Unlike numerous other open-source large language models, its permissive license makes it particularly appealing for businesses seeking to employ it for commercial endeavors.

Semantic Search Engine

We integrate a semantic search engine into our platform to better understand the context of user queries, In essence, it applies principles of Natural Language Processing to make search functions more intuitive and user-friendly. And to understand the intent and context behind a search item, providing more relevant and precise results than traditional keyword-based search systems. ensuring precise product recommendations tailored to individual needs and preferences.

Interactive User Interface

Through an interactive user interface, we revolutionize the shopping journey, turning it into an immersive and delightful experience. By departing from traditional scrolling methods we captivate customers in a conversation-based dynamic and engaging manner of online shopping.

AI in E-commerce: Enhancing the Shopping Experience

By combining advanced technologies such as LLM engines and semantic search, our system streamlines the shopping process, delivering personalized recommendations and facilitating seamless interactions between customers and the e-commerce platform.

Industry Advancement

Our innovative approach not only improves the efficiency and accuracy of online shopping but also pushes the e-commerce industry forward by offering personalized, conversational, and interactive solutions that cater to the ever-evolving needs and preferences of today’s consumers, pushing boundaries and setting new standards in the industry.

Conclusion

AI is a powerful tool for E-commerce platforms, in the ever-changing world of today’s shoppers, Virtual shopping Assistants harnessing the power of machine learning and artificial intelligence, enable E-commerce organizations to reinvent themselves in the market and captivate their users dynamically in a conversational way of shopping by ditching the old endless scrolling and multi-stepped process. The growing use of AI in E-commerce, and the industry’s expanding market size show that it is a viable option for organizations looking to improve efficiency and maximize ROI. This trend suggests that delving into the E-commerce sector with AI-based solutions can be a promising business enhancement and optimization pathway.

 

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