AI is the fuel for your digital transformation
Artificial intelligence (AI) is revolutionising the modern economy with its ability to simulate and surpass human-like intelligence. At its core, AI systems are able to analyse huge amounts of data, recognise patterns and make independent decisions based on these findings. Thanks to these capabilities, the intelligent technology forms the backbone for the automation of processes and helps companies to organise business processes more efficiently in an unprecedented way.
AI is therefore not just a technological innovation, but a key to increasing the competitiveness and
productivity of companies. Studies show that strategic AI applications can increase performance. Despite
this potential, however, only around 13% of German companies actively utilise AI technologies to date.
This reluctance is often due to challenges such as a lack of expertise or the integration of complex
systems. Nevertheless, it is clear that companies that embrace AI at an early stage have a clear
competitive advantage and are better equipped to meet the demands of an increasingly digitalised
economy.
At elio, we not only offer you customised AI solutions, but are also available to provide you with
comprehensive advice. Let us analyse your business processes together and identify optimisation
potential through artificial intelligence. Contact us today and discover how AI can drive your business
goals forward.
trillion $ could be contributed to global GDP by generative AI every year.
-McKinsey Digital (2023)Ready for AI commerce?
In the AI Masterclass on 24.10.2024 in Giessen, AI expert Levitan Novakovski will show you how AI is revolutionizing e-commerce. Find out in a practical way whether your company is already ready for AI and what specific applications there are for your business. In addition to valuable insights, the masterclass also offers the perfect opportunity to network with industry colleagues and experts.
Programmed for success: AI in e-commerce
While AI is still generally used rather cautiously in companies, the situation is already very different, especially in e-commerce. Around 28 % of leading e-commerce companies have already implemented AI. These companies use AI to optimally fulfil the needs of their customers in their online shops and to differentiate themselves from the tough competition. As the EHI study ‘Trends in E-Commerce 2023’ shows, AI-supported optimisation of the customer experience is increasingly becoming the dominant success factor. For decision-makers in German e-commerce, AI is therefore one of the most important megatrends alongside consolidation, profitability and sustainability.
Further studies impressively demonstrate the influence of AI in e-commerce:
‘Companies with AI-based business strategies generate at least 20 % more revenue.’
-McKinsey (2020)‘76% of decision-makers have recorded an increase in sales of 11% or more through the use of AI.’
-FactFinder (2023)‘Studies show: AI in e-commerce is decisive for competition and increases sales significantly.’
Levitan Novakovski - Head of the AI & Development department at elio
Possible applications of AI in e-commerce
More automation, higher process speeds, more turnover, lower costs! The benefits of AI are not
usually news, but how artificial intelligence can help in practice is.
We will show you how AI can be used in e-commerce and what specific benefits it can bring.
Through the comprehensive analysis of user data and behaviour, AI can deliver personalised product recommendations that are perfectly tailored to the needs and preferences of the individual customer. These targeted recommendations not only increase the likelihood of a purchase, but also create an unrivalled shopping experience that inspires and retains customers in the long term.
AI-based product discovery, such as that made possible by PHAINA, increases sales by up to 55%, demonstrating how crucial personalisation is for e-commerce success.
AI not only optimises processes in inventory management and logistics, but also increases efficiency in customer service. Chatbots process enquiries independently around the clock, relieving employees. This leads to faster deliveries and improved customer satisfaction.
According to McKinsey, companies were able to reduce their logistics costs by 15 %, cut inventories by 35 % and improve service levels by an impressive 65 %.
The chatbot study by EOS also shows that chatbots can handle more than half of customer enquiries completely independently.
By analysing trends and patterns in the collected data, companies can make precise and well-founded decisions that go far beyond gut instinct. This allows them to optimise their marketing strategies in a targeted manner and develop new products that precisely meet the needs of their customers.
Predictive analytics, for example, helps to forecast future demand and adjust planning accordingly. This enables companies to manage their stocks more efficiently, avoid bottlenecks and always offer exactly what customers want. With these precise analyses and predictions, no trend remains undiscovered and no potential unused.
AI protects e-commerce from fraud by recognising unusual transactions and taking immediate action.
According to Juniper Research, retailers worldwide will suffer losses of more than USD 343 billion from online payment fraud between 2023 and 2027. Particularly problematic are fraud tactics such as account takeover and ‘friendly fraud’, where customers falsely claim not to have received the goods in order to receive a refund. Some fraudsters even run large-scale chargeback scams and sell the goods on the black market.
AI prevents such fraud patterns, protects companies' finances and boosts customer confidence
AI plays a central role in e-commerce pricing. By continuously analysing market conditions, competitor prices and demand, AI can calculate optimal prices in real time in order to increase sales and maximise profits.
A study by Coresight Research and Competera shows that 92% of retailers are already using AI-based solutions for their pricing decisions. Of these, 70% report significant benefits from these technologies. This development impressively underlines how AI is revolutionising traditional retail pricing and helping companies to strengthen their competitiveness and optimise their financial performance.
Thanks to artificial intelligence, search functions on e-commerce websites are smarter than ever. These smart algorithms not only deliver more relevant results, but also understand natural language queries better, making shopping even easier.
According to a survey by FactFinder, AI applications in areas such as merchandising, search and personalisation provide the biggest boost to sales in online shops.
AI is revolutionising data management by classifying data precisely and organising it efficiently using modern systems such as data warehouses and data lakes. Advanced AI technologies automatically sort, store and archive data, enabling smooth data management and significantly reducing the effort required for manual processes.
A key aspect of this is the integration of KYC (Know Your Customer) and KYB (Know Your Business) processes. AI supports these through the automated identification and verification of customers and business partners, the creation of risk profiles and the continuous monitoring of transactions. This strengthens compliance with data protection regulations, prevents illegal activities and minimises risks.
By combining intelligent data organisation and robust KYC/KYB processes, AI optimises data quality and ensures secure, compliant data management.
Generative AI (GenAI) improves content optimisation in e-commerce by automating many tasks. It prepares data, creates product descriptions, summarises customer reviews, translates content and generates visual representations. These functions make content creation more efficient and increase customer loyalty and operational efficiency.
For example, GenAI can automatically create detailed product descriptions and summaries of customer reviews. It translates content into different languages and generates product images and visualisations that show products in context without the need for full photos.
According to McKinsey, companies that use AI to create content are seeing significant improvements in marketing efficiency and customer loyalty.
VisionAI is transforming e-commerce with smart image processing. For example, a warehouse employee can scan a product bottle, whereupon the system automatically triggers orders and optimises stock levels. This optimises inventory management and significantly reduces manual work processes.
VisionAI is also indispensable for quality control: it uses images to check products for faults and defects, thus ensuring the highest quality standards and increasing customer satisfaction. VisionAI thus ensures more efficient processes and more satisfied customers in e-commerce.
AI makes it possible to tailor the entire content of a website or online shop to the individual needs and preferences of each user. In contrast to personalisation, which often focuses on individual points such as product recommendations or thank you messages, the individual playout of content enables the entire customer experience to be comprehensively adapted.
The AI analyses user behaviour and preferences in real time in order to dynamically optimise content such as banners, offers, articles and layouts. This turns every shop visit into a unique experience that is precisely tailored to the respective customer and significantly increases interaction and the conversion rate.
elio - the ideal companion on your AI journey
With almost 25 years of experience in e-commerce and our own specialised AI department, elio is your leading partner for advanced AI solutions in e-commerce. We have been successfully using AI technologies for years to create continuous efficiency gains for ourselves and our customers.
Thanks to our long-standing partnerships with a large number of other AI experts such as Microsoft Azure, we benefit from an extensive network and have access to the latest innovations. This in-depth expertise and our comprehensive know-how flow directly into our customised solutions. Every AI implementation is customised to meet your requirements in such a way that it not only fulfils your expectations, but exceeds them.
‘Our many years of experience with AI, including in process automation, flows directly into directly into customer-orientated solutions.’
Ruben Theerkorn - IT Consultant & Software Developer at elio
AI services from elio at a glance
No matter where you are on your AI journey - whether evaluating, implementing or optimising AI - we can help you realise the full potential of the technology. Together we will find the best strategy to improve your business results and strengthen your competitive position.
Among other things, we can help you with:
Identification of your AI application areas
We help you to recognise specific areas of application for AI in your e-commerce business. This could include, for example, improving your customer approach or automating warehouse processes.
Building your data architectures
We design a robust data architecture that optimally organises and integrates your data. This enables efficient use and analysis of sales, customer and order data.
Selection of your suitable tools and technologies
We would be happy to advise you on the selection of suitable AI tools and technologies for your e-commerce operation. The spectrum ranges from intelligent search providers to AI-based guided selling tools.
Establishing your data culture
We also support you in building a strong data-driven culture within your organisation. This includes fostering an environment in which data-based decisions and the use of AI become a matter of course.
Development of your data and AI strategy
Together, we create a sound strategy for your data and AI utilisation that is tailored to the specific requirements of your business. The aim is to maximise your sales opportunities and increase efficiency.
Creation of an AI organisational structure
We help you to establish an effective organisational structure for your projects. This includes defining clear roles and responsibilities for data analysts and AI experts to ensure a smooth process.
Implementation of change management
We guide you through the change process associated with the introduction of AI technologies. Our change management approach ensures successful integration and promotes acceptance of the new technologies among your employees.
Development of governance structures
Data protection and data security play an important role in the use of AI. That's why we work with you to develop governance structures to ensure the secure and ethical use of AI in your e-commerce company. This includes guidelines for ensuring data quality and protecting customer information.
Successful AI implementations in practice
Discover how our AI solutions have been successfully utilised in various projects. We present real-life examples that show how companies have achieved significant improvements through customised AI technologies.
With the precision of a tool: How AI is revolutionising the tool industry
A company in the tools and machinery sector, which is known for its wide range of products and high quality, was faced with the challenge of efficiently managing extensive and precise product information. In this area in particular, detailed and appealing product descriptions are crucial for customer decisions. However, the manual creation and maintenance of product descriptions and images was far too time-consuming and error-prone. To meet these challenges, the tool retailer relied entirely on AI and elio's expertise.
Since then, AI has not only automated the creation of detailed product descriptions, but also extracts relevant properties from existing texts.This has enabled a more precise filter and search function for customers.
Another special feature was the automatic generation of application images.Previously, standard images of the products were used, which often did not show the actual use of the tools. With the help of AI, it was now possible to create realistic images that show the products in practical application scenarios and, above all, environments. These improved visualisations make the product presentation much easier for customers to understand.
Thanks to this AI-driven automation, the tool retailer was not only able to significantly increase the quality of its product data, but also considerably reduce the manual effort required for data maintenance. The result is an improved customer experience, greater efficiency in maintaining product information and a lower returns rate.
Full throttle into the future: how AI is revolutionising vehicle data management
In order to meet the growing demands of the market, a large German vehicle dealer was looking for an innovative solution to manage its vehicle data efficiently and make it quickly available online. The manual recording and maintenance of vehicle data was very time-consuming and prone to errors. To overcome these challenges, the dealership opted for elio's advanced AI solutions.
The implemented AI solution enabled the automated reading of various vehicle documents such as vehicle registration documents and technical data sheets. From this information, the AI automatically created complete product descriptions for the vehicles in the Shopware shop system. The only remaining manual task was to enrich the products with images before publication.
By using this AI technology, the car dealer was able to significantly increase the efficiency of its data management. Automating the reading of documents and data creation not only reduced the time required, but also minimised the error rate that often occurred with manual input.
Since then, vehicle offers have been published faster and more accurately, which has ultimately led to an improved customer experience and higher sales figures.
Our partnerships for your success
We are continuously expanding our expertise and skills through strategic partnerships with leading companies and technology providers. These collaborations enable us to offer you innovative solutions and state-of-the-art technologies. Our network includes renowned partners such as Microsoft Azure, but also up-and-coming companies such as PHAINA, whose expertise in areas such as AI, cloud technologies and data analysis complement and strengthen our own skills.
Here you will find a selection of our partners in the field of AI:
Feel free to contact us. We look forward to hearing from you.
Your contact person.
Do you have questions about AI or about elio in general? Contact Levitan Novakovski. He will be happy to help you.