Using Artificial Intelligence for Retail

Original article was published by Hailey Q Tran on Artificial Intelligence on Medium


Using Artificial Intelligence for Retail

In this quarantine time , all buying & selling activities are happening online that leads to a sudden jump in double or even triple the growth in E-commerce around the world.

Looking at the advantages of Artificial Intelligence (AI), it has improvised both buyers and sellers in a way that showcase the rapid growth of technology in the industry.

Let’s take a look at some major AI-powered solutions to improve retail experiences

1.Self-checkout for in-store purchases

When it comes to grocery shop, for myself and a lot of people I know, a majority of us would prefer to handpick our products. The question here is how do we ensure limit interaction in public?

Jordan Fisher, CEO of Standard Cognition heard us well and to answer he has built a AI powered solution not only to resolve the problem but also to bring a new value to retail experience.

This new generation allow consumers to walk into a store, pick up items and walk out without physically interact with cashier for payment.

2.Virtual Assistant

This enabling reminds me of a fictional story I’ve read since I was a child, said only a miracle would allow to foreseen the product before it’s been made. That was 20 years ago.

Momentarily, the world has witnessed a “dream come true” at the hands of AI.

According to Markus Linder, CEO of Smart assistant, a Digital Advice technology provider. With the help of virtual assistants, shoppers are now able to customize the product however they want. Hence, helping them make purchase decision quicker.

3.Chatbots Solutions

Appeared during the surge of Omnichannel, chatbot is an essential part of user’s experience and often take place of messenger, and/or identified functionally identical.

Retails need its integration to better communicate with their customers and target more accurate suggestions to retain and therefore increase sales.