Artificial Intelligence and Marketplaces
Marketplaces have been increasingly prominent in the business world. As such, Artificial Intelligence (AI) can be applied to marketplaces, benefiting both sellers and customers. Let's see how Artificial Intelligence and marketplaces complement each other.
How are marketplaces influenced by Artificial Intelligence?
Artificial Intelligence can be used in any environment with digital interaction connected to software. With the help of AI software, marketplaces are becoming increasingly sophisticated as you can assess the characteristics of each user. This will allow salespeople to connect more quickly with potential customers.
The Facebook Marketplace is a good example. The social network has added price range suggestions and categorization features to make it easier to sell. In addition, it is possible to make product recommendations.
How does AI benefit the seller and the consumer?
AI helps to recognize consumer search and buying patterns, that is, it helps the seller understand their preferences and show products similar to user searches. This will make it easier for the seller to reach your target audience.
Voice surveys, also produced through AI, are already starting to be part of everyday life. A major advantage is the automatic translation of descriptions and contents, facilitating access to the product in many countries.
Also chatbots are already starting to appear on many websites and not long to be part of the marketplaces. Through chatbots, customers can access product descriptions, do research or ask for support.
What are the benefits?
With repetitive task automation, which is one of AI's core functions, processes between sellers and buyers will be easier, thanks to the confidence that comes with it.
With AI, costs will be reduced for all parties involved. How? The platform makes it easy to access and reach the product, so customers spend less time looking for what they need. Plus, you can shop faster.
It is worth noting that AI helps improve the user experience through an agile and efficient platform. Thus, the combination of artificial intelligence and marketplaces will lead to an increase of buyers and sellers.