How AI is the Future of Online Business — TechVirtuosity
Artificial intelligence is a Powerful Tool
AI has been around for a while. It’s also described as the next big thing and the future of modern society. And yet, we already use it for security, transactions, repetitive tasks and even in video games! But using AI in online business is a whole new competitive field that still needs some exploring.
In general, AI isn’t a new technology but how we approach it and what technologies we use have changed a lot. So let’s get started!
How Companies Currently Use AI
Facebook is a very large corporation that has used AI in several ways. However, their most notable uses are those related to advertising. Their algorithms are able to personalize ads and many companies have used AI to assist with that. The data they gain is used to create higher conversions which means more money.
Conversions are important because it has to do with how many views turn into profits through clicks or purchases that are made. In fact, a lot of the internet bases success on those statistics. The more clicks or views that you have, the higher the chance for more profit.
However, Facebook aside we also see AI being used for other things. AI in online business can also be used in the user interface. Websites are able to make suggestions or changes that appeal to different shoppers. It’s similar to what Facebook does but it’s all about making sales rather than clicks or views. The user interface is a very powerful tool in itself when used with AI!
The Future of Using Browsing Habits
Currently browsing habits are based on what you click on. It’s a simple concept. If you like something you might click on it and then the algorithms will assume what your interests are. It’s not entirely wrong but it isn’t always accurate. Sometimes accidental clicks happen and other mishaps that can confuse a simple AI or algorithm.
In the future this technology will improve and provide better shopping results. An improvement with AI can help online retailers to narrow down the vast amounts of data they collect. While it’s easy to gather a lot of data it’s not always easy to use it properly. That’s why AI can help a lot.
Another concern with browsing habits is your privacy. Currently websites and businesses gather your information and collect related and unrelated data. As AI improves this will allow companies to narrow it down to know what data is important and what isn’t. This will help to improve your privacy while helping companies to know what to collect.
Building Trust Not Useless Data Piles
Collecting large amounts of data is useful to someone. Even with online businesses there will always be a company that wants the data. If you’re an online clothing store you might not necessarily care about a customer’s relatives or family, unless they need clothing too. However, social media companies love data that connects to other people. It helps them to grow their user base and therefore increase profit.
Then on the other side of the spectrum we have companies like Google. They collect vast amounts of data and use it for what seems like an endless amount of reasons. They love your search history and the Android operating system helps them to collect even more data. But this isn’t the future of using an AI in online business. People also demand privacy.
AI is already being used to sift through data for reports from articles. What if AI was also used to protect your data? This is another reason why AI in online business is needed. But it’s also great at customizing experiences when it’s not collecting data. And that brings us back to AI and user interfaces!
Can AI Streamline the Online Shopping Experience?
Currently we have what is known as a “ responsive user interface” for web design. It’s great at making websites able to fit a variety of different screen sizes. But machine learning could be the future of web design. If an AI was able to understand the audience that a business is trying to appeal to, then it could help to expand that reach.
For example, elderly shoppers may want a more simplified interface to understand. One that makes it so they can read and understand what they are searching for. AI currently can help to achieve that by adapting the website to the user’s device. Understanding screen resolution and how to display the buttons is an important step forward and that’s why other types of data get collected too. But AI could take design a step further into recognizing those that struggle to read small fonts.
The design currently changes based on the device but some websites also change based on user settings on their device. Such as font sizes, web layout and other cosmetic changes. Implementing more AI could solve solutions for odd devices as well. Ones that have resolutions that are not standard. But there are also other ways AI can help and it’s becoming a necessity for smaller online businesses!
AI Replaces a Human Necessity (Sometimes!)
If you are just starting out and you have a small online business, you might be limited on funds. This is where AI in online business will become essential. Chat bots are a great alternative to live customer support.
They allow you to not worry about hiring a 24/7 staff to watch your online business. We currently have very capable AIs being used as chat bots and there’s a great reason for that. They provide consistent help without the need for a break. Even larger businesses are using them as a filter for smaller issues that don’t require a human response.
AI chat bots are the future of most online support and that can be a good thing. However, AI is still learning and still being improved because they are somewhat limited at the moment. Eventually they’ll become more popular, especially with smaller businesses. But if you have a small online business now, then you should definitely consider them!
AI in Online Business
Artificial intelligence isn’t going away anytime soon. It’s the future for many online businesses and it’s important to take advantage of the opportunities now. Whether you’re using AI for a responsive web design, chat bot support or data sifting/gathering, the technology is only going to improve.
Do you have an online business that uses AI or plans to in the future? Let me know your experiences or thoughts down below!
Originally published at https://techvirtuosity.com on November 16, 2019.
