Business pundits seem to be in agreement over 2018 being the biggest year in M-commerce history, what with online shopping increasing in popularity, as well as accessibility over multiple platforms and demographics.
Among the major trends that began in the very recent past that have shaped the face of M-commerce include mobile shopping, video content, subscription M-commerce, pop-up shops, digital currency, and blockchain, as well as Artificial Intelligence.
All these are new and creative ways of engaging shoppers online, as businesses strive to stay afloat while maximizing sales from their online stores.
In this regard, business owners, who are tasked with the responsibility of keeping up with, and standing out from the choking crowd of numerous stores online, have to keep their eyes and ears online, as well as offline, to know what’s new in the industry, plus whether the new initiatives will be worth their time and money.
A huge part of online business success is staying up to date with the trends in the M-commerce world, and one of the biggest trends this year is Artificial Intelligence.
Artificial Intelligence (AI) has literally invaded the digital space, taking over a lot of conventionally done business tasks and practices, and disrupting sectors such as customer service, and other operational areas of the business.
With tools such as Google Home, Alexa, and Siri, among others that are within easy reach of customers, AI is becoming more and more prevalent in their daily lives, and that includes how they interact with online stores.
The artificial intelligence market is expected to reach USD 190.61 billion by 2025 from $21.46 billion this year, at a CAGR of 36.62%.
This just shows how big AI is in terms of the technological shifts that will happen on the digital front, and more so in the M-commerce sector.
This shift is already being witnessed today what with the rise of chatbots for 24/7 automated and instant customer support, and other AI innovations in different spheres of the business including forecasting, capacity planning, automated delivery, production, merchandising and much more.
To understand the impact that AI is having going forward, here’s the infographic by Mofluid that captures the ongoing shift to applying AI in M-commerce, and the top 5 AI-driven M-commerce trends that you need to watch out for in 2018.
AI in mCommerce: Top 5 Trends for 2018