E-commerce is increasing at a fast pace and also getting a lot of success. There are many big companies like Amazon, Flipkart, Walmart, etc. that have gained a lot of success in e-commerce. Simply put, the trade of goods and services, as well as the transfer of money and data over the internet, is known as e-commerce. E-commerce depends on digital platforms and technology, such as social media, mobile apps, and websites, to enable purchasing and selling. Revenue in the eCommerce market is projected to reach US$4,117.00bn in 2024. Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.49%, resulting in a projected market volume of US$6,478.00bn by 2029.
Most products are bought through e-commerce websites or applications by entering text in the search bar. But sometimes, it could be difficult to get a specific product when you cannot name it. This is where artificial intelligence, paired with the best app development, can play a significant role.AI-driven visual search can make it easy to find a product that you do not know by its name. There are many smartphone companies that are providing AI-based visual search to their smartphones, like Google Pixel, the newest model, etc. AI also plays an important role in product recommendations, as if you do a visual search with AI, then it matters the most which type and quality of products you get recommended to purchase. A report by McKinsey & Co. shows that adopting AI can generate 20% extra revenue for your business. Amazon’s AI-powered recommendation engine drives 35% of their annual sales.
Artificial intelligence itself is a great technology, as it can be said to be the best technology of the century so far. This is not too many years to develop artificial intelligence, but it has been implemented in every sector. The global artificial intelligence (AI) market size was USD 538.13 billion in 2023, calculated at USD 638.23 billion in 2024, and is expected to reach around USD 3,680.47 billion by 2034, expanding at a CAGR of 19.1% from 2024 to 2034.
If we talk about our aim to present this article, then this is to provide you with information related to AI-driven visual search and recommendations. We will see many additional details, like benefits of AI-driven visual search and recommendation, scope, etc.
What Is AI-Driven Visual Search And Product Recommendation?
With the use of images rather than text-based inquiries, users may now get information thanks to AI visual search technology. Users can start a search by utilizing images or photos captured with their devices (such as cell phones or cameras) in place of typing in keywords.
When we talk about the AI-based product recommendation, it relies on a machine learning algorithm that has been trained to rank or score items or users, which is what makes up an AI-powered recommendation system. It is intended to forecast the ratings a user would assign to a certain item and present those forecasts to the user in the form of a sorted list. This function can benefit customers and companies in different ways.
How Can AI Enhance Visual Search and Product Recommendation?
Artificial intelligence-driven visual search generally uses algorithms to recognize and classify things in an image and then provide pertinent results. This implies that shoppers can utilize photos to find the things they desire rather than typing particular text searches.
Artificial intelligence-based product recommendation targets consumers engaging with their goods and services in a given session. Relevant recommendations that are suited to a visitor’s search keywords, clicks, conversions, and other trackable events from their current session are generated. These can have various benefits for users and companies, as we will see later in the upcoming paragraph.
Also Read: Top AI Retail Solutions For Transforming Customer Engagement And Support
Benefits of AI-Driven Visual Search and Product Recommendation
There are a lot of benefits to AI-driven visual search and product recommendations. Here are a few of the top benefits mentioned below.
Enhance the online shopping experience
An online shopping platform’s main aim is to improve the experience of the customers. Customers can browse a vast array of products using visual search engines by simply selecting the desired item from its picture. It saves time and effort, which increases the likelihood that a customer will buy something from you. AI-based product recommendations get them top-rated products that surely make them satisfied.
Increases sales and revenue
When customers can easily locate what they’re looking for and get personalized search suggestions at the same time, they’re more likely to find and buy what they want. Additionally, the precise results that visual search yields assist users in making better-informed purchases, which lowers the number of returns. This overall results in increases in sales and revenue for the company. Overall, these solutions can be a game changer for the e-commerce industry.
Reduced customer frustrations
Text-based searches can be hectic, particularly for products with intricate descriptions or without specific names. This obstacle is removed by a visual search. Consumers need only upload one image to receive pertinent results, which lessens the likelihood that they will become irritated and give up on their search. Product recommendation solutions make things better for the customers by recommending top-rated or liked products by previous customers.
Language independence for the customers
There are many products around the globe that cannot be pronounced in different languages and only have a name in a specific language. So it is kind of impossible to find that product. But with AI-driven visual search, language obstacles no longer exist. Visual search is ideal for finding things when traveling overseas or shopping on foreign websites because it does not require translation. This simply makes the searching more easy and efficient.
Effortless searching
With AI-driven visual search, there is no struggle to put in keywords that you do not know. You can take a photograph of the object with your phone’s camera, take screenshots, and upload one using visual search. After that, AI goes to work, recognizing the product and locating identical or nearly identical matches in the retailer’s stock. With AI-based recommendations, it can show you the same products of different quality on different websites with a description of which one is most liked.
Also Read: How Can Generative AI Help In Application Development?
Scope of AI-Driven Visual Search and Product Recommendation
The future seems very bright for AI-driven visual search and product recommendations. There are many reports that predict the upcoming few years of AI-based visual search and recommendation market size. Estimated to surpass $14 billion by the end of 2023, the global visual search market will rise up to as much as $33 billion by 2028, according to historical data and forecasts. For the forecast period of 2021-2028, the compound annual growth rate (CAGR) of the market is predicted to be 17.5%, respectively. In the future, there could be more integration of other technologies that can enhance these solutions more. But overall, it seems to have a large scope for the future e-commerce market.
Final Words
AI-driven visual search is one of the newest technologies in the e-commerce space. Users of sites operated by major companies in the industry, including Amazon, may already conduct visual searches. There are a few benefits that the technology might provide, including improved shopping, decreased bounce rates, and more revenue from commercial activities. AI-based product recommendation is another aspect that ensures that customers get the best product in every price range. This enhances the company’s reputation and customers’ trust too. Overall, there is a bright future ahead of these solutions for the e-commerce industry.
I hope you understand our provided information about the AI-based visual search and product recommendation.
