Artificial intelligence is no more a buzz word, it has reached a stage where companies are really implementing some of the use cases of AI. The usage of AI has a dominance towards manufacturing industry to develop human machine interfaces leveraging machine learning techniques and supported by the revolution of Industry 4.0 . Manufacturing and Industrial setup require a complete automation as these are highly human intensive industries. However the applications of AI is not limited to the manufacturing, we see there is a lot of traction coming from retailers considering it is a consumer driven industry. In this blog we will talk more about the applications of AI in Retail Industry.
Amazon physical store
We all know that Amazon already dominates e-commerce marketplace, but considering 90 percent of worldwide retail spending is still in brick-and-mortar stores, according to eMarketer , Amazon wants to disrupt the traditional store with more with automation and data-mining technologies borrowed from e-commerce.
Merchandiser vs Consumer
How Merchandiser defines a product
- It’s got a “boat neck”
- It’s got an “invisible zipper”
- It’s got a “short sleeve”
- It’s got a “floral pattern”
How customers buy and define products
- This is my “favorite work dress”
- Every time I wear this dress,
- I get “compliments”
- I love how the material “hugs my body”
- I wore it to my “son’s wedding
There are ample number of places in buyers journey to create good customer experience and it is just a beginning. AI revolution has just started in retail industry.