Practice questions

Read the following scenario and answer ALL the questions that follow

Artificial intelligence (AI) is beneficial for today's online retailers to deliver an outstanding customer and user experience in e-commerce and make intelligent business decisions by using customer data. Its crucial for a business to have an ecommerce platform to be able to compete with other retail businesses. With many brick-and-mortar businesses wanting to enter the e-commerce arena, AI is becoming a substantial part of the business world. Its also boosting engagement and interaction with digital touchpoints. This is very important for a business to have an e-commerce platform to compete with the giant Merchandise of online vendors. Smart Shopping is a store that sells clothing for the entire family. The store has an e-commerce platform already in place for all online orders. Management is looking to include AI technology to their ecommerce platform.

QUESTION 1

In your capacity an AI expert, report to management on ways AI is empowering the e-commerce industry (discuss AT LEAST FIVE (5) ways)

QUESTION 2

Fraud detection software increasingly uses AI for Predictive Analytics which identifies fraud patterns AI is also employed for Customer Analytics which detects deviations from a customers usual behaviour and Social Media Analytics which gathers information from social media and blogs. Discuss ANY FIVE (5) types of fraud detection software that would be useful to Smart Shopping to detect fraudulent behaviour on their e-commerce platform.

QUESTION 3

Product recommendation engines are systems that present relevant product information to users as to nudge them to take actions that benefit both the user and the store. These systems include machine learning algorithms. The type of product recommendation best suited for any business will vary based on the type of business and their customers. Discuss ANY FIVE (5) ways on how to use product recommendations for Smart Shopping e-commerce platform (include examples).

QUESTION 4

In the e-commerce world, chatbots are bringing about a transformation and enabling retailers to foster better shopping experiences. Discuss the benefits of using chatbots in an e-commerce platform such as Smart Shopping.

QUESTION 5

E-commerce customers are always on the lookout for high-value personalized experiences that make their shopping journey exciting and distinctive. One way to achieve this is by allowing consumers to engage in one on one conversations with chatbots and have their questions answered quickly and easily. Discuss ANY FIVE (5) best practices to adopt when planning to build a chatbot offering a customer experience on an e-commerce platform such as the one at Smart Shopping.