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In 2023, close to *** out of ten global industry decision-makers had already integrated generative artificial intelligence to generate product recommendations utilized by associates in physical stores. Meanwhile, ** percent were in the process of evaluating its adoption. Moreover, ** percent employed generative Artificial Intelligence (AI) to develop conversational digital shopping assistants, ** percent utilized it for constructing virtual models for product pages, and ** percent applied it to curate personalized product bundles.

AI-driven personalization

Utilizing artificial intelligence to craft personalized shopping experiences has become a cornerstone strategy for e-commerce retailers. In 2023, **** of ten businesses surveyed worldwide employed AI-driven personalization to fuel growth. To measure the success of AI in personalization, companies primarily look at the accuracy and speed of real-time data alongside metrics like customer retention and repeat purchases. As AI technologies advance, the potential for increasingly refined and impactful personalization within e-commerce will expand even further.

The consumer experience

AI helps e-commerce businesses understand and respond to consumers' preferences, needs, and behaviors. One crucial area of online shopping where people anticipate AI improvements is price comparison, as indicated by **** of the participants in a 2023 survey. Consequently, consumers are eager to uncover relevant promotions, offers, and products. However, the swift pace of these advancements also breeds skepticism among online shoppers, especially among older demographics, many of whom express discomfort with this technology's use for personalization.