GNAI Visual Synopsis: An illustrative graphic depicting the seamless integration of artificial intelligence in e-commerce, showcasing personalized product recommendations, efficient supply chain analysis, and enhanced customer service, illustrating the impact of AI on online shopping experiences.
One-Sentence Summary
The global market for artificial intelligence in e-commerce is anticipated to grow at a 14.9% compound annual growth rate, reaching $14.07 billion by 2028, driven by the surge in online shopping and the use of AI to enhance customer experience and optimize operations according to The Business Research Company. Read The Full Article
Key Points
- 1. The artificial intelligence in e-commerce market size grew from $7.01 billion in 2023 to $8.06 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%.
- 2. Major players in the market include Apple Inc., Google LLC, Microsoft Corporation, Amazon Web Services Inc., and Siemens AG.
- 3. AI in e-commerce is applied through technologies like natural language processing, deep learning, and machine learning, and deployed through cloud or on-premise methods, across various applications, and end-user segments.
Key Insight
The rapid growth of AI in e-commerce is driven by the need to improve customer experiences, increase sales, optimize operations, and reduce costs, with a significant impact on the retail and e-commerce sectors, contributing to the evolution of online shopping experiences.
Why This Matters
The advancement of AI in e-commerce holds the potential to revolutionize digital shopping experiences, offering personalized recommendations, improved customer service, and optimized supply chain operations, impacting the future of retail, customer engagement, and operational efficiency.
Notable Quote
“The use of AI technologies and techniques in e-commerce aims to enhance various aspects of online shopping and improve the overall customer experience in electronic commerce.” – The Business Research Company.
