By 2020, 85% of communication between customer and retailer will be through Artificial Intelligence (AI). Meanwhile, the AI market is set to contribute $14 trillion across multiple industries by 2035. Since online business and retail is increasing in popularity, consumers are making 50% of their purchases while freelancers are building income through investment and selling their job skills online. As a result, businesses and entrepreneurs are rushing to build a solid customer service approach to develop accurate products, search capabilities, and a personalized online experience. So, how will AI affect e-Commerce and Freelancers alike?
Increasing AI’s Effect on e-Commerce
Google has been using Artificial Intelligence to help strengthen its search algorithms as e-Commerce brands continue to realize the value of an accurate search feature. In fact, 61% of organizations see the importance of developing an AI strategy, yet only 50% have achieved a strategy in place today. According to IBM, artificial intelligence can help boost online sales by analyzing customer data, identifying purchase trends and consumer behavior. With a detailed catalog of services or products, brands can enhance their search features and customize it accordingly, depending on their target audience.
For example, a freelancer is looking to earn a passive income with their blog by writing an e-book. But, how will their target consumers learn about it? While an online summary alone cannot be expected to provide a full understanding of the product, an array of samples of their previous services, such as written work should provide distinct and clear evidence of their skill. Using Artificial Intelligence will allow the site to analyze, understand the search patterns, keywords, and attributes to identify the potential clients.
AI Changing the Landscape of Freelance Jobs
Based on a PwC survey involving more than 10,000 active online professionals, one in five freelancers were reported to be concerned with AI taking over their jobs within the decade. According to LinkedIn co-founder Reid Hoffman, a key part of freelance work is to establish the connection between client and customer, then determining the job at hand. Thus, Artificial Intelligence is not a major factor in that. However, AI’s drive to change the future of the workplace provides a unique opportunity to guide upcoming tasks – giving freelancers the upper hand to think proactively about market trends.
While we cannot be entirely sure about AI’s effect on the future of work, one thing’s for certain, technology is changing the way we live, communicate, and do business. These consequences are felt in every aspect of business from e-Commerce websites to freelancers alike.
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