The Artificial Intelligence techniques, if handled with appropriate knowledge will lead to great success in your business. It will help in making important business decisions considering the target users for the business and all the needed requirements. Additionally, artificial intelligence also helps in making the business achieve a global impact in a very short period. AI brings in systems automation, helps in making the business data-driven, helps in generating business and market insights and virtual assistants. Some of the prominent artificial intelligence features that enhance the business include Natural Language Procession, Sentiment Analysis, and Image Recognition.
Natural Language Processing (NLP)
NLP plays a huge role in establishing cordial relationships with customers. Communication is made much better and effective due to the NLP technique as more in-depth information and views are being conversed. This often leads to better sentimental analysis to be performed in the best way for better business outcomes. The analysis plays a huge role in interpreting the customer’s thoughts over a product and what enhancements can be made to the product based on the results of the sentiment analysis. This analysis becomes easy and fruitful only in the presence of a healthy relationship with the customers, which can be made possible using the NLP.
Image and Voice Recognition
For a business company to flourish, it is required that the sales team perform exceedingly well for their own company. The sales team can use different transcribing and the speech technology services to derive more in-detailed interpretation from the public over a product. These speech technologies help the sales team to perform the successful transcribing from audio to text. Even the videos can be converted to the accurate text. The accurate text derived help in further automating the processes in the development of the product. The chief processes that can be automated in the business arena include complaint analysis as well as the demographic analysis. This automation saves plenty of time that revolves around the meetings and Conferences.
This AI technique further helps in improving the relationship with the customers. The Chatbots ensure that the customer need not wait before getting their service done in an automated fashion. This allows the business sales team to be proactive in terms of their actions and services to the customers, thereby making the conversational experience with the customers effectively. Automation of the customer information has enabled deeper understanding for the sales team regarding the performance of sales of a product as well the current needs of the customer. Chatbots ensure that communication with the customers is very precise and effective. They generally consider the context, the past interactions that have happened with the people while responding to the queries put forward by the customers regarding the business. The data derived from the conversational responses from the customers are often recorded and used by the various teams of a company to enhance their business revenue.
IT outsourcing companies, like fortyseven47.com are ready to undertake any issues of a project of any size and complexity, to implement an effective and AI techniques. These Smart AI features including chatbots, image and voice recognition, pattern recognition and forecasting, Sentiment analysis and the NLP has an immense impact on the performance of your business. It is significant to possess knowledge of these techniques and use them wisely to enhance your business.
Mobile Commerce Trends: Do You Need a M-Commerce App in 2023?
Twenty years ago, our parents could only dream of convenient shopping from any place they were with the help of a small device in their pocket. Today, dreams come true, and there is no surprise in getting clothes, groceries, or booking tickets via mobile phone. M-commerce is emerging as the friendliest shopping method through safer mobile payments, technological advancements, and the rise of specialized m-commerce apps. Let’s dive deep.
What is M-Commerce?
Mobile commerce (m-commerce) refers to purchasing and selling goods and services via a mobile device, such as a smartphone or tablet. M-commerce has been increasing in recent years and is expected to grow in the coming years.
According to Statista, mobile e-commerce sales reached $2.2 trillion in 2023, accounting for 60% of all e-commerce sales worldwide. This share has steadily increased, from 56% in 2018 to an expected 62% in 2027.
Key m-commerce trends to watch in 2023 and beyond:
- Increased mobile shopping: More and more people are shopping on their mobile devices. M-commerce will account for over half of all e-commerce sales by 2025.
- Social commerce: Using social media platforms to buy and sell products and services. Social commerce is becoming increasingly popular, especially among younger consumers.
- Voice shopping: Utilizing voice assistants like Siri and Alexa to buy and sell products and services. Voice shopping is still in its early stages of development. Still, it is expected to snowball in the coming years.
- Shopping with Augmented reality (AR) and virtual reality (VR): these experiences allow consumers to try on clothes, furniture, and other products before buying them. AR and VR shopping are still in their early stages of development. Still, they have the potential to revolutionize the way people shop.
- Contactless payments: Apple Pay and Google Pay allow consumers to receive goods and services without swiping or inserting their credit or debit cards. Contactless payments are becoming increasingly popular.
These are just a few vital m-commerce trends to watch in 2023 and beyond. As e-commerce grows, we expect even more innovative and exciting shopping experiences to emerge.
How to prepare for the future of m-commerce
If you are a business owner, there are some things you can do to prepare for the future of m-commerce and keep up with the trends:
1. Make sure your website is mobile-friendly: Your website should be easy to navigate and use on mobile devices.
2. Provide mobile payment options: Make it easy for customers to pay for their purchases on their mobile devices.
3. Invest in social commerce: Use social media platforms to promote your products and services. Connect with customers and receive feedback.
4. Accept contactless payments: Offer contactless payment options to your customers to make paying for their purchases easier.
By taking these steps, you can ensure that your company is well-positioned to succeed in the future of e-commerce.
Mobile app development in the era of m-commerce
There is no way of talking about m-commerce, not mentioning mobile app development. You use your smartphone to buy something online.
Mobile app development services are an array of services that help businesses to develop and launch mobile apps. The implementation areas may vary: healthcare, financial, agricultural, or construction mobile apps provide the best performance and encapsulate all the peculiarities of the domain.
Different types of mobile app development services are available, and the specific services that a business needs are determined by the size and complexity of the app, the target group, and the business’s budget. However, some standard mobile app development services include:
Ideation and design: working with the customer to understand their business needs and goals and to develop a concept and design for the app.
Development: writing the code for the app and implementing the desired features and functionality.
Testing: examining the app to ensure it is bug-free and works as expected.
Deployment: Publish the app to the appropriate app stores. Apple App Store and Google Play are among the widely known.
Many mobile app development companies offer additional services such as maintenance & support, app marketing and promotion.
M-commerce pros and cons
There are a set of benefits and disadvantages to using mobile app development services. Let’s take a look them.
- Accessibility. M-commerce is democratizing online shopping by extending its reach to even remote areas. It makes online shopping more accessible and inclusive for everyone, regardless of location, and fosters economic growth in rural and underserved communities.
- Reduced response rate. Mobile apps have a significant advantage over web browsers regarding response time. Mobile apps are created for specific devices and can use the device’s hardware and software resources. As a result, mobile apps can perform tasks more quickly and efficiently than web browsers.
- Social media integration. M-commerce also integrates with social media platforms like Instagram, TikTok, and Pinterest. It allows brands to foster deeper community ties and loyalty among consumers.
- The culture of instant gratification. With features like one-click transactions and same-day or next-day delivery, consumers have come to expect immediate gratification. This can diminish the joy of anticipation traditionally associated with shopping and affect broader perspectives on patience in life.
- Impulse purchasing. With our smartphones in our pockets, we can now browse and purchase products from anywhere, anytime. This convenience has led to a surge in impulsive buying decisions, as customers are constantly bombarded with targeted marketing messages and have access to a vast selection of products with just a few taps.
- Challenge for local businesses. Online platforms like Amazon and Walmart offer many products and services at attractive pricing, making it difficult for small, locally-owned businesses to compete. M-commerce can also lead to customers sidelining neighborhood brick-and-mortar establishments in favor of the convenience and wide selection of online products.
M-commerce is a steadily growing industry that has already reshaped online shopping. Such technologies as voice shopping, augmented reality, social commerce, and contactless payments will form the e-shopping future.
Mobile app development services can be valuable for businesses that want to develop and launch mobile apps. If you own an e-commerce business, ensuring your website and mobile app are upgraded for mobile shoppers is crucial. Using social commerce platforms to reach your target audience on their mobile devices would be best.
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