Latest Technology News Today – Get Latest Information Technology Updates and Services Latest Technology News Today – Get Latest Information Technology Updates and Services 
Artificial Intelligence is helping online shopping gain traction and reach the success level it has achieved today. The technology is advancing with each passing day and it online applications have to keep up for keeping the customer’s data and money safe and secure. But how exactly is AI helping? Let’s take a look.
Search
Your searches on various online shopping portals quickly return a list of the most relevant products related to your search. Apparently, their algorithms automatically learn to combine multiple relevance features. Their catalogue’s structured data provides them with many such relevance features and they learn from past search patterns and adapt to what is important to the customers.
Recommendations
You see recommendations for products you’re interested in via personalized recommendations on the home page, bottom of item pages, and through email. Online shopping portals use artificial neural networks to generate these product recommendations. Research has shown that recommenders increase sales (in this linked study, by 5.9%, but in other studies, recommenders have shown up to a 30% increase in sales) and that a product recommendation carries the same sales weight as a two-star increase in average rating (on a five-star scale).
Fraud Protection
Machine learning enables fraud prevention in online credit card transactions. Fraud is the primary reason for online payment processing being more costly for merchants than in-person transactions. AI is deployed to prevent fraudulent transactions and also minimize the number of legitimate transactions declined due to being falsely identified as fraudulent. Credit card processors minimize the probability of falsely declining your card by utilizing AI that can learn your purchasing habits while maximizing the probability of preventing somebody else from fraudulently charging it.
