Inspite of the fact that some of the largest advancement is taking place in AI , in all industry across , but retail industry is leading the way . Some of the biggest implementors of AI are Amazon Eco , Google Home , and Apple Siri . Every now an then , we see application coming online using AI, but there is a lot that can impact retail industry .
Snapchat is also using AI in neural networks way . Now let’s move on to how AI help retail store owners ?
Artificial Intelligence technologies are set of big datas , which combining with technology , creates a model that can provide answer like real human . The answer depends on what AI has learned through data set .The more the AI faces customer interaction , the more it will get chance to improve the question and answer ability .
Since AI runs on machine oriented algorithms , it can discover actionable information about business , customer and inventory which are even not known by business owners . It can benefit the retail in numerous of ways .For instance , AI can get to know about the taste and preference of customer together with what they want and what they need .
And AI knows even before you know it . AI produces a great result , it can give multiple benefits to business owner . Secondly , without the help of AI , if customer gets discount coupon , even before going to shops of business owners , both customer and owner will be benefited .Another benefit we can say is , if AI gets to know what is the exact need of the customer , and can offer them at best prices , you can start building personal selling relationship with your customer .
Let’s take another example of product images , the biggest problem faced by online retailers and marketplace where large number of catalogs are to be dealt in . It is a time consuming job of tagging each product one by one , and high chances of getting wrong tagging . Product tagging and thereafter searching for the right product is one of the crucial task that can seriously impact search result and sales . Currently manual process of tagging online retailer is time consuming and error prone job .Inaccurate tagging can frustrate the customer and result in loss of revenues .
This problem can be solved by AI . Instead of manual tagging , retailer can upload all the images to AI engine , and can tag them by colour , pattern , style , and other parameters all at once .
AI are also used by business owners to transform the way customers are looking for the product . Image searching , replacing the text search to find products online by shoppers , is an opportunity for retailer to help them tackle the problem of discovery while building new experience .
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