Conversational AI and platform solutions company Kore.ai has partnered with AI-native customer data platform mParticle to provide an NLP-based search engine and intelligent chatbots to personalize shopping experiences for retail customers.
As the retail industry is predicted to be worth 8.5 trillion dollars by 2025, both physical stores and online retailers can enhance the shopping experience for customers by leveraging conversational AI. This partnership will allow companies with digital shopping platforms to use NLP-based search assistants and chatbots that are powered by customer insights to improve shopping experience areas, such as purchases and customer support.
"Brands are increasingly realizing the power of personalization across the company, beyond marketing. Conversational AI has made great advances in understanding what a customer says. With the full 360 customer profile data and AI data platform that mParticle brings to this partnership, we will help conversational AI get the right answer for each individual customer," said Chee Chew,Chief Product Officer, mParticle.
Intelligent chatbots can work on various platforms, such as websites, mobile apps, and in-store kiosks, to provide more personalized experiences. They increase efficiency by leveraging natural language-based product discovery and search, placing orders and reorders, tracking and fulfillment of orders, pricing, and promotions, self-service support, etc.
"Digital marketplaces are discovering the transformative power of conversational AI in enhancing the shopping experience through personalized customer interactions and product recommendations. We are thrilled that Kore.ai and mParticle are joining forces to deliver personalized digital and voice chatbots that will provide an exceptional shopping experience to all customers, no matter their channel of choice," said Raj Koneru, Kore.ai CEO and Founder of Kore.ai.
Kore.ai has unveiled RetailAssist, a conversational commerce assistant designed for the retail industry, at the National Federation of Retailers (NRF) show in New York City. RetailAssist allows retail and e-commerce companies to improve their operations by providing automation, personalization, omnichannel fulfillment, and 24/7 pre-and post-sales service and support. The offering also acts as an intelligent virtual assistant for employees, helping with tasks such as onboarding, daily operations, and customer support.
"Personalization can benefit consumers by helping them select the most suitable products, verify compatibility, and access coupons to drive loyalty leading to improved customer experience, increased revenue and reduced returns. mParticle plays a crucial role by providing one of the most comprehensive and efficient platforms for aggregating and managing customer data based on factors such as demographics, spending profiles, preferences and transaction histories. This partnership will help to enable personalized shopping experiences at scale, from search to purchase, and coupon redemption to returns," said Gopinath Polavarapu,Senior Vice President and General Manager, Kore.ai.