Reviewing AI Applications in E-Commerce, Digital Business Models and Reflection on the Advantages and Issues

Abstract The present paper intends to reflect on the various Applications pertaining to AI. It also discusses the significance of AI-Applications in transforming and molding digital business models. This paper throws light on the opportunities and challenges in the field of AI oriented E-Commerce. Artificial Intelligence (AI) is a branch of Computer Science that deals with the production of software or applications which can have human-like capacity to think, to recognize patterns, to take decision etc. There are several fields which use AI Applications to enhance and enrich the efficiency of their tasks in their particular fields. The fields like Healthcare, Education, Transportation, Banking, Entertainment, Security and E. Commerce etc. use AI Applications to expedite their tasks with precision. In digital business, the use of AI has become indispensable because AI helps run and grow business smoothly. It helps to create digital business models, useful chatbots and customers behavioral analytics. It also helps to detect frauds, to forecast customers’ demands and optimize entire business-related processes. The present research paper discusses the concept of AI in E-Commerce, various AI-Applications, the benefits of using AI and challenges in using AI in the field of E-Commerce.