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AI Setting A New Battlefield For Indian E commerce-Harshita Agrawal | BW Businessworld

How AI will facilitate future growth of etailers:
Currently, we see basic applications of AI in Indian e-commerce space. However, etailers need to take it to the next level to counter the competition from Amazon, allegedly their biggest rival. They can take inspiration from the developed markets, but the key will be to give global solutions a localized flavor across various stages of the customer journey. Some key applications of AI along the e-commerce journey phases are:

* Regional Language Recognition: A major chunk of India’s population is not comfortable with English, and speak local languages. Hence, to deepen engagement with such shoppers, e-commerce companies can equip their AI platforms with regional languages and local dialects recognition capabilities to facilitate seamless transition from offline to online.

* Personalization 2.0: Today’s time pressed customers demand personalized offerings with minimum number of clicks. This pushes businesses to take personalization to the next level by transitioning from tactical segmentation to strategic individualization. AI-driven data will help businesses to structure interaction, functionality, and content around real-time needs of individual customers, leading to higher conversions.

* Facilitate Dynamic Pricing: Indian shopper are highly price sensitive which makes it important for online players to provide deals/offers that adjust to changing consumer preferences while also taking into account the internal inventory, profit requirements and competitors’ pricing influences, all enabled by AI.

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AI Setting A New Battlefield For Indian E commerce-Harshita Agrawal – BW Businessworld.

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