MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

E-commerce firms focusing on AI, virtual reality to cut logistics cost and fraudulent orders

E-commerce firms focusing on AI, virtual reality to cut logistics cost and fraudulent orders

E-commerce companies are focusing on artificial intelligence (AI) and virtual reality with a view to cut logistics costs and identify fraudulent orders, said a report by global auditing and consulting firm PwC. In a population of more than 500 million and approximately 65% of the population aged 35 or below, Asia especially India,represents a highly aspirational consumer market for retailers across the globe.

E-commerce players are revamping their technology strategies to maintain their competitive edge. Most e-commerce platforms are upping their investments in areas such as conversational commerce, artificial intelligence (AI), virtual reality (VR)/augmented reality (AR) and analytics technologies.

It observed that to identify fraudulent orders, reduce return rate and also cut down on logistics cost, e-commerce companies are investing in robotics and AI heavily. AI-based voice-based shopping in vernacular language enables deeper customer engagement with the transition from offline to online by overcoming the language barrier.

Given the recent episodes of data breaches and alleged misuse of customer information, the need for adopting appropriate security measures have escalated significantly," said Sandeep Ladda, PwC India Partner. This move will help the firm to improve fraud detection and enable companies to offer a secure and transparent online medium as it helps in determining authenticity.

YOU MAY ALSO LIKE

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

RECOMMENDED