The Growth of Artificial Intelligence in Ecommerce
Technology combined with ecommerce has taken the world by storm even prior to the Covid-19 crisis. Customer satisfaction, brand recognition, and the effectiveness of the sales procedures are the pillars on which the e-Commerce industry thrives. With technology increasingly infiltrating the e-commerce market, retailers are on the look out for innovative ways to improve these aspects with newer features to automate processes and stay ahead of the curve.
All this reckoned with the integration of AI proved to be a game-changer for eCommerce and retail platforms, thus shaping retail digitization.
The below graph indicates Statista’s estimates of retail sales to amount to nearly $30 trillion by 2023. Nasdaq estimates 95% of purchases by E-commerce to be facilitated by 2040.
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