The Technology and Evolution of E-Commerce

Universidad Autónoma de Nuevo León Facultad de Contaduría Pública y Administración Comprensión de textos técnicos en inglés Digital presentation on an article about E-commerce Teacher: Cinthya Michelle Robles Moctezuma Members: Gallegos López Jose Luis #1895364Jurado Vega Michelle Alejandra #2105876Martínez Hernández Karolina #2100612Torres Anguiano Santiago Elí #2067168 Group: 21 LTIDate: 05/09/2024

The Technology and Evolution of E-Commerce

The Technology and Evolution of E-Commerce

INTRODUCTION

E-commerce grew in leaps and bounds over short duration of time, this has not only redefined the structure of global marketplace but governing businesses to orient their functionality as per consumer habits towards products and services. E-commerce: From a niche idea to the most widely recognized power in decadeWith its root emerged from tech and science, e-business have overcome extraordinary measures of solace, accessibility & proficiency. Internet infrastructure, e-commerce platforms and payment technologies have evolved allowing a consignor to securely ship curated garments with little hassle (when was the last time you were handed your mail in mid-air?). Furthermore introduction of Artificial Intelligence (AI) and Machine Learning (ML) has empowered companies to deliver personalized shopping experiences, operational optimization as well better standard in customer service.

INTRODUCTION

Yet, despite growing rapidly and largely proving to be recession proof industry e-commerce industr y still has its technological hurdles including technology adoption, data security issues along with again as it tries kept up by being the forefront of otherc cyber threats…Due evolving advancement like that next hint for better IoT (Internet Of Thing), virtual reality or even AR(Augmented Reality) create a customer experience To The Next level all together. This essay explores some backbones of how we got a long way through on building this giant tech arena which is modern-day commerce system discussing both business implications than consumer perspective So by understanding the basic importance of technology in e-commerce we can understand and write how various other opportunities are created or overcome in this grand field.

SECONDARY IDEASGLOSSARY

MAIN IDEAS

E-commerce, or electronic commerce, refers to the buying and selling of goods and services over the internet. Its origins can be traced back to the early 1970s when the first online transactions were conducted using Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT). However, it wasn't until the 1990s, with the advent of the World Wide Web, that e-commerce began to gain significant traction. The proliferation of internet access and the development of user-friendly web browsers catalyzed the expansion of online shopping, setting the stage for the modern e-commerce landscape.

The Technology and Evolution of E-Commerce

SECONDARY IDEASGLOSSARY

MAIN IDEAS

Technological Foundations

1. Internet Infrastructure Internet infrastructure form the roots of e-commerce technology, these includes web servers, browsers and data networks. From web servers that host e-commerce websites to make them available for users all around the world. Web browsers permit users to access websites, whereas data networks allow the transfer of information from servers down to clients. The Next Frontier Of Business: From E-Commerce To V Commerce With ‘Always-On’ Tech-Powered Distribution Layer.2. E-Commerce PlatformsAn e-commerce platform is nothing but a software tool that allow businesses to manage their online sales. These are some of the functionalities an e-commerce platform must provide: Product catalog management Shopping cart integration Payment gateways Support numerous types of products (physical goods, digital downloads) Ordering processing Both Shopify, Magento and WooCommerce are e-commerce platform that you could get with any custom solution as per your need. They utilize technologies like cloud computing to enable the scalability and elasticity has problems as a result of on-premises deployments, necessitated by variation in traffic and transaction volumes.

SECONDARY IDEASGLOSSARY

MAIN IDEAS

Technological Foundations

3. Payment TechnologiesE-commerce depends on available advanced payment technologies that ensure safe connection between buyer and seller for financial transactions. In traditional industries, more “modest” digital payments such as credit and debit cards have been supplemented with the rise of mobile wallets and alternative payment solutions. Secure Socket Layer (SSL) encryption, and Payment Card Industry Data Security Standard PCI DSS compliance are among the number of technologies required to secure online transactions. Furthermore, blockchain technology and cryptocurrencies have been coming strong as a new payment method with further leading security and less transaction fees.4. Security Measures Top of mind in e-commerce is security due to the sensitive financial and personal information being exchanged online. The e-commerce site and platform that serves the customer will also have implemented numerous security protocols to protect against credit card fraud, data breaches or a cyber attack. Measures taken: SSL encryption for sending data securely 2FA ( Two Factor Authentication) to verify the user and firewalls in place to protect unauthorized access. No e-commerce system can operate without regular security audits and updates.

SECONDARY IDEASGLOSSARY

MAIN IDEAS

Technological Foundations

5. Artificial Intellignece and Machine LearningPersonalized experiences, trend forecasting and optimization of e-commerce are only a few areas within online shopping benefiting from the AI/ML revolution. AI algorithms receive the data then they are capable to analyze user behavior, preferences and deliver personalized product recommendations & targeted marketing campaigns. ML allows the models to predict patterns of demand, optimize inventory management and improve customer service via chatbots or virtual assistants. They have helped create a more efficient and entertaining e-commerce for businesses as well as customers.

SECONDARY IDEASGLOSSARY

MAIN IDEAS

The Industry has gone through a major phase of transition in e-commerce with the infusion of high-end technologies. It has made this possible by reducing the barriers to entry for SMEs through providing them with affordable tools and platforms that enable them to compete in a global market. Data analytics allows understanding the behavior of clients and opens doors for businesses in terms expanding their audience and streamlining operations. In addition, they are seen as a competitive differentiator in an increasingly ferocious market for the ability to provide an integrated and customised purchasing experience.

Impact on Businesses

SECONDARY IDEASGLOSSARY

MAIN IDEAS

While e-commerce offers a wide array of benefits to merchants and end-users alike, it is not without challenges, particularly in terms of technology adaptation as well cybersecurity. Businesses need to keep pace with constantly evolving technologies and new regulatory demands in order to remain competitive yet secure. In the future, other trends such as IoT (Internet of Things), AR and VR are expected to change e-commerce even more. iOT devices will make for increasingly customizable and easier shopping, with AR & VR making interactions design may realistic.

Challenges and Future Trends

CONCLUSION

Technological progress drives the e-commerce that has little in common with what it had been 10 years ago, and now using this technology gives a huge advantage to your business. Similar to as technology advances, I would predict that this will not cap the end of changes in e-commerce. If handled smartly, these advancements can prove beneficial to businesses as well as consumer experience. Ongoing advances in e-commerce technology Scientists and innovators who are dedicated to the field of commerce have promised that things will only get better.

1.- E-COMMERCE/COMERCIO ELECTRÓNICO: It helps process transactions by transmitting information between a merchant's website and the bank. 2.- ELECTRONIC DATA INTERCHANGE (EDI)/INTERCAMBIO ELECTRÓNICO DE DATOS: A system that allows electronic exchange of business information, considered a precursor to e-commerce.3.- PAYMENT GATEWAY/PASARELA DE PAGO: A service that facilitates secure online transactions by connecting the merchant's website to the payment processor.4.- SSL ENCRYPTION/CIFRADO SSL: When the transmission of online data is encoded via a security protocol to prevent unauthorized access. 5.- CLOUD COMPUTING/COMPUTACIÓN EN LA NUBE: A technology wherein companies can use remote servers for storing and processing data; this helps in the easy expansion of e-commerce platforms. 6.- CRYPTOCURRENCY/CRIPTOMONEDA: A digital or virtual currency that uses encryption technology for transaction security and control on creating new units.

GLOSSARY

7.- MACHINE LEARNING (ML)/APRENDIZAJE AUTOMÁTICO: Is a branch of artificial intelligence (AI) and computer science that focuses on the use of data and algorithms to allow AI to imitate the way humans learn, gradually improving its accuracy.8.- ARTIFICIAL INTELLIGENCE (AI)/INTELIGENCIA ARTIFICIAL: Is a field of computer science that focuses on creating systems that can perform tasks that typically require human intelligence, such as learning, reasoning, and perception.9.- MOBILE WALLET/BILLETERA MÓVIL: Allows you to carry all eligible payment cards digitally, eliminating the need to carry a physical wallet.10.-TWO-FACTOR AUTHENTICATION (2FA)/AUTENTICACIÓN DE DOS FACTORES: Identity and access management security method that requires two forms of identification to access resources and data.

GLOSSARY

INDIVIDUAL CONCLUSIONS

GALLEGOS LOPEZ JOSE LUIS - 1895364During the development of this article I can draw several conclusions regarding this same work, for example technology and commerce have always been needed for many years since the more one advances the other cannot be left behind since it would mean a setback in either of the two areas affecting their different disciplines. But I think that it is mainly thanks to technology that commerce becomes more prosperous and develops at a much higher level than it did years ago and because of this users have benefited a lot since it is more accessible, easy and secure, now many users venture to use more e-commerce or different electronic platforms without having to resort to a third person to serve them, the use of AI or blockchain have been conducive to users and businesses benefiting from each other, the global market has allowed different producers, whether small, medium or large companies, to develop their businesses where their benefits are greater by taking advantage of technological advances, we can take it for granted that e-commerce will never stop updating and it will always seek to give an image so that the If consumers are attracted to global trends, they cannot afford to be stagnant as technology will continue to advance with or without trade.

INDIVIDUAL CONCLUSIONS

JURADO VEGA MICHELLE ALEJANDRA - 2105876In conclusion as one of the team who penned this writing, I can say e-commerce and technology have played a very important role in transforming commerce with endless possibilities for both businesses and consumers — making global trade easier than ever before while reducing barriers to entry for small-medium enterprises. We learned from our research that the enormous importance of this underlying technological infrastructure in enabling a functional and secure online shopping experience, such as; platforms like Shopify or Big Commerce, payment technologies (such as Stripe) advanced consumer proposal technology |advanced identity validation tech. To sum up, the incorporation of artificial intelligence and machine learning has enhanced business workflows by delivering tailor-made experiences and driving data-driven decisions.While we saw the clear benefits, like any technology there are hurdles – from stayingcurrentwith new tech and legislation to security in our increasingly digital world. In that light, e-commerce is changing too — and thus the next big trends are forming like IoT (Internet of Things), AR, VR or Artificial Intelligence tools to make our buying experience more unique… personal. In conclusion, e-commerce is an industry that continues to expand and change in a manner that businesses need to move along with the trends — or continue losing sales of tech-savvy consumers.

INDIVIDUAL CONCLUSIONS

MARTINEZ HERNANDEZ KAROLINA - 2100612With this first evidence we could see about different topics or concepts that are very important to know, as they are essential especially for those who study or like everything related to technology. In this activity we learned about concepts such as e-commerce, SSL encryption, cryptocurrencies, mobile wallet, two-factor authentication, AI, etc. These are topics that we had probably already heard, but may not fully understand; however with this evidence we were able to see in more detail what they mean and see how technology is related to all these concepts. I can conclude that technology currently has a great impact, since now we depend a lot on it in any type of activity, whether in business, academics, work, and among many others. Specifically in this evidence focuses on business technology, the great evolution that took place in e-commerce, as it was a breakthrough for everyone and now it is easier to make payments, transactions, purchases, sales of physical or digital things and services, all this done through the internet. As well as learning about the type of security that exists on the internet and how we can protect ourselves within it.

INDIVIDUAL CONCLUSIONS

TORRES ANGUIANO SANTIAGO ELÍ - 2067168In this activity we focused on analyzing and understanding an article related to our career. Personally, I think that the most important thing about this activity was the practice of reading comprehension, especially because it was a topic that we, the graduates in information technology (LTI), are very connected to. Text comprehension is one of the most important factors to improve and expand our knowledge, since it helps us understand complex ideas and apply them in our daily and professional lives. In addition to analyzing the article, we also created a glossary of terms that seemed important to us or that we considered somewhat more complex compared to others in the same article. This was to ensure that we understood the content in its entirety and could define these concepts with total clarity, which made the learning process even more valuable. Another thing we did was select the main and secondary ideas of the article, with the aim of better understanding the text. In conclusion, I consider that this activity was a great practice to begin to recognize both our strengths and our weaknesses and some factors that we consider we should improve when reading texts in English. This practice also allowed us to see where we might have struggled and where we could have improved compared to reading comprehension activities we had previously developed, thus helping us focus on improving our skills. Overall, this exercise was helpful in reinforcing our skills, which are essential for our academic growth.

BIBLIOGRAPHIES

Amin, S., Kansana, K., & Majid, J. (2016, February). A review paper on E-commerce. In TIMS 2016-International Conference, At Gwalior.Murthy, N. N., Mehtre, B. M., Rao, K. P. R., Ramam, G. S. R., Harigopal, P. K. B., & Babu, K. S. (2001). Technologies for e-commerce: An overview. Informatica.La tecnología detrás del e-Commerce - Prosa México. (n.d.). https://www.prosamexico.mx/medios-de-pago/la-tecnologia-detras-del-e-commerce