Language remains one of the remaining true impediments to global trade. The internet and international trade accords have made cross-border trading extremely easy. When the buyer and seller are unable to communicate, neither feels secure in finishing the transaction.
Among the numerous ways in which technology has revolutionized the world, it now appears to be on the verge of eliminating linguistic barriers for good. In 2014, eBay introduced an artificial intelligence-powered translation tool to help with global sales. Economists from the Massachusetts Institute of Technology and Washington University examined sales data from before and after the new technology and concluded that sales increased by about 11% when translations improved as well.
Translation tools are not a new concept. Tourists have been carrying computerized translators since the 1980s. What has changed is the incorporation of artificial intelligence. Smart technology can discern between many accents, dialects, and semantics, adding nuance to translations. The resulting result reads organically, increasing the copy’s engagement, descriptiveness, and credibility. Best of all, AI combined with machine learning improves at translating over time, exactly like a person.
The internet is a global phenomenon, but it is mostly segmented by user language, posing barriers to global e-commerce. These barriers are no longer there, thanks to the maturation of AI translation skills.
Translation as the key to success.
AI translation capabilities are relevant to resale sites such as eBay, which provide a platform for independent sellers. This might also be viewed as a democratization of e-commerce. Now that one of the final hurdles to entry has been lifted, even the smallest suppliers may contact buyers all over the world.
By providing AI-powered translation tools, eBay gives fair footing for sellers who would otherwise be unable to compete on a worldwide scale. According to Common Sense Advisory, companies who can interact with international consumers are 2.67 times more likely to increase revenue. Another Common Sense Advisory survey found that 56.2% of web users valued the option to view material in their local language more than price.
eBay has significantly shortened the time it takes to process orders by incorporating AI translation into personalization, insights, and suggestions.
Speaking a universal language with AI.
The average translator will spend six to eight hours translating 2,000 words. Given the amount of text on the ordinary e-commerce website, a complete translation can take days, and that’s only for one language.
AI translation uses hundreds of multilingual dictionaries to translate one language into another. Then, the technology connects the sentence structures of the languages. If there are any disparities, AI takes decisions based on the statistical likelihood of accuracy. In practice, automatic translation saves time while being more accurate than certain linguists.
High-quality translations enable a lot of sales that would have been impossible otherwise. They also help to create a user experience that encourages people to buy, refer, and return.
For example, most consumers would prefer to type than speak with a customer support professional. This tendency is driving the chatbot market, which is expected to expand by more than $6 billion by 2024. When dealing with speakers, accommodating different languages is a significant challenge, but when AI interprets the text, it becomes immaterial. As a result, e-commerce companies may provide the type of service that consumers desire regardless of their native language.
Delivering a superb experience (rather than just understandable product descriptions) will become more critical as e-commerce rivalry heats up. When linguistic barriers are removed, more retailers will begin to pursue the same clientele, whose loyalties are already fickle. According to a recent survey, 70% of respondents are dissatisfied with the website experience, and 76% are likely to switch to a competitor. Great translations help to a smooth experience while setting websites apart from competitors with poor text.
In the broadest sense, artificial intelligence assists merchants in deepening consumer relationships by translating their wants and needs. Long-term client involvement requires the collection, storage, analysis, and use of data. Millennials are even eager to share more personal information if it results in more convenient or personalized experiences. Being able to communicate coherently enables merchants to request data naturally and interpret the responses.
Language distinctions will soon become irrelevant online. As these obstacles fall, tremendous prospects for e-commerce will emerge, but customer expectations will also shift. It’s not hard to assume that early adopters of AI translation capabilities will have a significant edge.