The AI Association
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The AI Association
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The AI Association
Retail
Changing the retail experience
Artificial Intelligence in retail is being applied in new ways across the entire product and service lifecycle - from assembly to post-sale customer service interactions. It has the potential to completely transform the traditional retail experience and take it to the next level through a complete personalization of a consumer's buying journey.
AI offers one of the most significant opportunities in the retail space. As a result, retailers across the world are investing in automated solutions that improve the customer experience, while driving operational efficiency and productivity through intelligent analytics.
Sales and CRM Applications
The sales process can be automated and enhanced through identifying and conversing with leads, re-engaging existing leads, and creating the optimal buyer journey through analyzing multiple data sources. This includes integrated data sources, including the recognising the buyers emotions.
Customer Recommendations
Tailoring retail purchase recommendations through customer history and buying behaviour will enable a more enjoyable customer experience. Replicating the role of the concierge in the buying journey through the use of more a intuitive digital interface is possible with advances in Natural Language Processing chat-bots.
Manufacturing
Through integrated AI technologies, factors can better stock their retail and shipping centers through real-time stock management and automation manufacturing to reduce product delivery timelines.
Logistics and Delivery
Robotics are being deployed across the retail experience. From the operational efficiency of factory robotics to automated personal luggage robots in airport terminals, AI technologies are providing retailers with access to goods and services faster than ever before.
Payment Services
Through the use of intelligent applications, customers can simply walk into a store, select the product they want to purchase, and walk out the door without any interruption. Significant innovations have also been achieved in fraud detection through machine learning.
Use cases for retailers across the value chain
1Planning and Procurement
- AI for stock replenishment
- AI for assortment rationalization
- AI for procurement back office
- AI for cognitive contract analysis
- AI for product content and catalogue management
- Pricing decisions
2Production
- AI in predictive maintenance
3Distribution and Logistics
- AI for predictive logistics network management
- AI powered visual aided picking
- AI reverse supply chain and returns management
- AI for route optimization
- AI for reducing distribution pilferage
- AI for logistics back office
- AI powered visual inspection of warehouse assets
- Category optimization
4In-store operations
- AI enabling self-checkout
- In-store bots for shelf scanning
- Planogramming
5Sales and marketing
- AI driven chatbot for sales support
- AI in image recognition to identify counterfeit products
- AI in voice recognition and customer authentification
- Promotion Optimization
Artificial Intelligence is creating significant opportunities across industries and retailers have their own huge set of benefits fromAI. Consumers too have their own set of AI-powered tools to help create a better buyer journey.
A transformed and super-charged supply chain offers a significant operational opportunity, and also supports the customer experience.
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