One of the biggest challenges for an ecommerce store is shopping cart abandonment. As a store owner, you have done all the work to get the customer interested, finally engaged with them for them to come to your web site or the app and only to lose them when they were ready to make a purchase. That is one of the biggest nemesis for the e-commerce store owner. The average cart abandonment rate across all the industries is north of 70%. That is even worse for Mobile users which is 85% (15% higher).

Artificial Intelligence (AI) is changing the way that eCommerce companies do business. AI is being implemented in systems across the eCommerce sector. From generating leads to gathering information, AI has improved multiple facets of the industry. Algorithmic bots have revolutionized customer facing services. Automated systems are the driving force behind improvements in back-end eCommerce software.

A chatbot can benefit the biggest or the smallest eCommerce company. Whether you're selling clothes, shoes, makeup, electronics, art & crafts, or furniture, having a chatbot is a great investment for your store. Big brands benefit from chatbots because it allows them to engage with numerous customers in a timely and efficient manner. At the same time, small stores that cannot hire several employees can compete with bigger businesses by providing immediate service. Having a chatbot can help increase your revenue because it solves different customer problems that often lead to cart abandonment.

From USD 2.3 trillion in 2017, the worth of eCommerce transactions is estimated to reach USD 4.88 trillion in 2021. But the meager contribution of eCommerce in the total retail sales (In the same period, from 10.2% to 17.5%) explains a huge gap which, in fact, is an opportunity to tap into. Wisitech explores its critical usability in our regular business. How Familiar are We to AI or Artificial Intelligence? You might have noticed your kid making use of Google Assistant, Siri, Cortana or Amazon Alexa to seek answers from Google, control devices, and apps, or place an order on Amazon.

From the outside looking in, shopping hasn't changed all that much in the past decade. Sure, it's more common now to find a brick-and-mortar synced efficiently with its online presence (Target is great at this). But those still seem to be the exception to the rule. Proving once again that there isn't a space that can't be reshaped by AI, our friends at CB Insights mapped the startups disrupting retail and e-commerce using artificial intelligence (AI). Syncing online and real-world inventories is just the tip of the iceberg when it comes to converting retail to a 21st-century endeavor.