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

Marketing Partnership: NBA, McDonald’s Will Jointly open NBA Experience Zones India

There is good news for all basketball fans in India. Very soon, NBA themed promotions and experience zones will be launched in India. The announcement...

Dunzo to Raise Funds from Google, others

Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which a...

Sapta Shakti Command Will Be Displaying Defence Technology Equipment at Jaipur Military Station

This event is organised with an aim to provide an opportunity where one and all can experience the developments in the field of defence and security-r...

Samsung is All Set to Roll out Its Galaxy A9 Smartphone On November 20

After Samsung unveiled its new Galaxy A9 smartphone in Singapore last month, the company is all set to launch it in India on November 20. In Singapore...

RECOMMENDED