Role of Artificial Intelligence (AI) in Understanding the Behavior Pattern: A Study on E-Commerce

Abstract

In the good old days when traditional buying medium was the only option available to the consumers, there was hardly any role of intermediaries involved in the buying and selling processes that could influence the consumers. There has been a significant change in the present day scenario. Along with the enormous advancement of technology, in the era of Industrial Revolution 4.0, consumers’ buying decisions and behavioural patterns are effectively influenced by various other means. For instance before buying anything these days, people would visit the product websites, compare the products, engage in chat forums to have a detailed analysis of product specifications, have expert opinions on the same while some might even attend related webinars. Precisely, for any retailer, the situation has become altogether much more complex with the cumulative research done by the buyers beforehand, hence establishing the fact that only with the human intelligence and the salesperson involved, retailers would not be able to get their deals cracked and succeed in the highly competitive environment. Customer satisfaction is one of the pillars of strength for any successful retailer, hence the infiltration of AI it becomes easier in understanding and predicting consumer behaviour patterns and trends in E-commerce as with the use on Analytics only, it failed to demonstrate the behavioural patterns precisely due to the humungous quantity and variance of data paving the path for AI to enter the scenario as coupling with Analytics it can unleash its values to simplify. Purpose of the Research is to study the role of AI in understanding the behaviour pattern of E-commerce Customers. To understand how Artificial Intelligence can add value to increase the sales of an E-commerce Company—Creating more personalized marketing across multiple devices is by using artificial intelligence to eliminate redundancies and automate processes and enable trade in conversations.KeywordsE-commerceStart-upsIndustrial revolution 4.0AIChat-bots