Technology has changed the face of Earth, time and again. When we look at it, advanced technologies, like artificial intelligence, machine learning, and robotic process automation, complete the tasks that humans once completed. Hyper-automation is another feather in the cap of strategic technology.
Customer satisfaction and employee happiness are the parameters of the success of any business organization. Artificial Intelligence has turbo-charged the approaches towards both these factors. Let’s see in detail the enigmatic effect of Hyper-automation in the world of e-Commerce. The next step of automation should focus on end-to-end operational decision-making using AI technology.
The most common examples of Hyper-automation in 2021 are
➔ Accounts Payable process involves receiving, processing, and paying out invoices from suppliers that provide goods or services to the company. The AI methodologies useful here are document extraction technology and optical character recognition.
➔ Order management includes email attachments, order summaries, updating internal systems for which Workfusion has made an SAP-integrated and effectively reducing 50% manual effort.
➔ Marketing involves getting the contact information of various targeted clienteles and extracting data from multiple websites. The process of lead generation is the gift of AI methodologies.
There are many ways in which AI technology has changed the structure of e-Commerce.
Ways Hyper-Automation has revolutionized the e-Commerce
● Customized recommendations
Recommendation engines are the formative part of the e-Commerce business. The strategy of recommendation sends a double impact on the online business.
Customers now feel a personalized experience since the advent of AI technology –
Cross-selling strategy increases when relevant products flow smoothly through the sales funnel. With AI technology, customers can make informative decisions as personalized notifications keep popping regarding previous purchases. Employees and Online business also benefit from customized recommendations-
❖ Employees benefit as the data reveals that recommendation techniques have helped in increasing sales and customer retention ratio. Furthermore, data analysis of previous purchases and repeated page view helps in generating more sales. It can be a big booster to understand the new trends and requirements of the customer base.
● Personalized communication
Communication is the key to a successful relationship. The effective interaction of the customers’ needs and requirements has gone a step ahead due to AI technology’s right methodologies. Intelligent chatbots are the latest way to greet, help in navigate and communicate with the organization. The result of chatbot interaction is getting feedbacks, initiate interactions, and real-time engagement helps business growth.
● Network security
The feeling of security is of paramount importance for the customers. Nowadays, as cybercrime cases are rising, the security system protocols to take timely real-time action are significant. Providing the right AI techniques concerning security policies and practices gives a sense of trust to the customer. The customer’s data regarding personal and monetary grounds needs to be secured by advanced AI practices.
● Data management
Analysis of extensive data collected by advanced technology is not possible humanly to store and interpret effectively. AI helps in data handling, flexibility, and storing structured and unstructured data at the same location. It fastens the process of data processing with greater accuracy. As the business grows, the need for different data types increases like inventory data, customer data, order and dispatch registry, which can be structured clutter-free with the latest AI techniques.
● Content creation
The selling point for any business is the description of its product and the clarity with which it reaches its targeted audience. Therefore, the content for any online business is an integral part of its formation. Incorporation of keywords and accurate information is a helpful technique of AI. Analyzing the content from different sources and automate product descriptions is also a sales-boosting technique due to hyper-automation.
● Hyper-automation
● The AI revolution droplets are sprinkled not only on the website and apps but also on all other e-commerce business aspects. Hyper- automation of the warehouse has made the process of production more fruitful. Robots carry out the entire chain of events from ordering to delivery of the stock. Hence the process is carried out efficiently.
As we can see that for blossoming the e-commerce industry, Hyper-automation plays a significant role. The essential factor to be understood here is that this step does not require human replacements. It is a way to give employees freedom from performing the same mundane tasks repeatedly.
An opportunity is given to the employees to perform functions of more significant importance productively. Hyper-automation provides a platform for humans and AI technology to work together and promote the business’s growth.
Author: Alok Bansal, MD & Country Head at Visionet India
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