Trading solutions will be more based on artificial intelligence: Nitro Commerce

India had the third largest online buyer base at 190 million in FY21 and is expected to reach 350 million in FY26. In 2023, e-commerce reached a colossal value of over $80 billion. Nitro Commerce has a vision to accelerate the industry 10x. The Nitro Commerce technology stack accelerates customer acquisition and conversion optimization.

Umair Mohammed, co-founder and CEO of Nitro Commerce, tells us more. Fragments of the interview:

DQ: Can you explain how Nitro Commerce’s AI-powered solutions increase customer engagement and drive business growth?

Umair Mohammed: Identity-as-a-service, where we have built a full consent management system, understands user intent in real-time and segregates users based on our algorithms into high-intent users and helps push people down the funnel in a fully organic manner.

DQ: How does Nitro Commerce’s AI-powered personalization benefit both customers and businesses?

Umair Mohammed: In this new era, customers do not expect, but rather demand, a hyper-personalized experience. They expect the brand to know their preferences and that this will be the norm across all brands. So, it helps brands meet the expectations of new-age consumers and stand out. It provides customers with excellent UX and the right product at the right time, in the right channel.

DQ: How does Nitro Commerce ensure data security and privacy for its customers?

Umair Mohammed: Nitro Commerce has worked diligently with the best data security law firms and leading data security experts in the industry. This aims to build a complete, fully secure and fully compliant with all laws including GDPR, DPDPA, CCPA etc. In fact, we help brands obtain a full DPDPA complaint before the law goes into effect by August 2024.

DQ: How does Nitro Commerce use predictive analytics to make strategic decisions?

Umair Mohammed: Nitro uses its proprietary algorithm to capture user intent and evaluates user intent based on over 85 parameters. Using this data, brands are able to fine-tune their marketing, messaging and conversions across the entire funnel.

DQ: How does Nitro Commerce’s AI technology adapt to the challenges of online and offline retail?

Umair Mohammed: Offline and online are slowly merging, and archaic solutions are giving way to agile, new-age systems. As we work with more and more retailers, it becomes even more clear that this gap will narrow over the next three to five years.

Nitro Commerce, with its solutions and experience in composable commerce, can become pioneers driving this change.

DQ: How does Nitro Commerce ensure the scalability of its AI-based solutions?

Umair Mohammed: Well, the key here is to know what questions are being asked based on the data. Our AI solutions are designed to work with the system in such a way that they do not require excessive use of resources. In this way, we can democratize the way AI systems are accessible even to smaller brands.

DQ: Can you provide examples of how Nitro Commerce is working together to improve its AI capabilities?

Umair Mohammed: We have integrated a simplified AI-based solution to provide the language models that we have embedded in our product. We are also introducing AI solutions to optimize bottom-of-funnel optimization.

The truth is that AI is only as good as the data it is trained on, and many brands don’t have enough data to train these models. Nitro solves this problem and presents these solutions in a way that makes them visible – to the brand that becomes actionable.

DQ: What are Nitro Commerce’s future plans for integrating artificial intelligence and shaping the future of e-commerce?

Umair Mohammed: We believe that trading will become extremely easy to compose. In this sense, each customer will see something tailored to him and his taste in his preferred channel. As store concepts evolve, URLs and destinations will become a thing of the past and will not matter to the consumer as long as they are tailored to their taste.

I also believe that merchandising solutions will become AI-driven as more and more AI becomes available to capture customer-level data. We also believe that mobile commerce will drive all forms of innovation in the future. Artificial intelligence will be an important part of driving these segments of composable shopping experiences.