Mystore Introduces AI-Powered Semantic Search For ONDC Network
By enabling AI-enabled semantic search on its ONDC Network Buyer App, Mystore aims to provide buyers with accurate and relevant product matches, which could enhance product visibility and foster higher engagement and conversion rates.
Mystore, an Open Network for Digital Commerce-connected marketplace, has unveiled artificial intelligence-enabled semantic search using Google Cloud's Vertex AI to enhance seller conversions and improve the buying experience.
The new offering for ONDC Network sellers and buyers aims to provide granular search results through precise query interpretation. By understanding the context of search queries, AI-based semantic search delivers a more intuitive shopping experience.
The ONDC Network has seen significant growth over the past year. With thousands of sellers joining the open network each day, it becomes important to have a system that makes their products visible, discoverable, and relevant to the search queries posted by the buyers. Having discoverability for related search queries is critical for ONDC's business growth.
“As the open network experiences exponential growth, the ability to precisely match buyers with the right seller offerings becomes crucial. Mystore's latest offering of integrating AI-powered semantic search on the ONDC Network is thus a pivotal addition. This technology not only enhances the shopping experience but also levels the playing field for sellers of all sizes,” said ONDC Chief Executive Officer T. Koshy.
By enabling AI-enabled semantic search on its ONDC Network Buyer App, Mystore aims to provide buyers with accurate and relevant product matches, which could enhance product visibility and foster higher engagement and conversion rates.
According to Mystore, the semantic search technology is designed to improve search results by understanding customer intent, offering tailored product recommendations to meet customers' needs, delivering quick results for queries that reduce search time, optimising search performance to interpret complex queries, and helping customers find exactly what they are looking for.
“With the potential to increase e-commerce conversion rates by up to 25%, Mystore's AI-powered semantic search delivers highly relevant search results by understanding the intent behind queries, boosting buyer engagement, and ultimately resulting in higher conversions,” said Rajiv Kumar Aggarwal, chief executive officer and founder of Mystore.
- With inputs from PTI.
