Product recommendations

 Product recommendations

Recommendation AI is another key investment for the retail world. We’re talking personalized product recommendations at scale, based on everything from browsing and shopping history to chatbot interactions.

This is a particularly interesting use case for AI because it means retailers can start to connect shoppers with the items they’re looking for earlier on in their online shopping sessions. Recommendation AI can also expand to include both visual and voice search, and retailers have experimented with both.

Comments

Post a Comment

Popular posts from this blog

AI Introduction

AI Introduction Learns from experience Uses the learning to reason Recognises images Solves complex problems Understands language and its nuances Creates perspectives Types of Intelligence Spatial - visualize the world Naturalist - understand living things and reading nature Musical - discerning sounds, their pitch tone, rhythm, and timbre Logical-mathematical - making hypotheses and proving them Existential - why we live and why we die Interpersonal - sensing people's feelings and motives Bodily Kinesthetic - coordinating you mind with your body Linguistic - right words to express yourself Intra Personal - understanding yourself, what you feel and want Spatial - visualizing the world in 3D
Read more

Inventory management

  Inventory management A survey conducted by MIT Technology Review indicated that fraud detection and inventory management are just as likely to be AI-enabled in retail as customer service. Inventory management in particular is an area of retail where many different types of AI are already being used. There’s camera vision, (like  Google’s new shelf-checker tool ), but there’s also sensors ( smart shelves , anyone?) and demand forecasting. There’s plenty of room in this last use case for AI to make a big difference:  According to McKinsey & Co. , using AI-powered forecasts in supply-chain management can reduce errors by up to 50%, reducing lost sales and product unavailability by up to 65%. Lowe’s is one retailer that has gone all in on AI for inventory management, introducing a “LoweBot” to Bay Area stores in 2016.  LoweBot  uses cameras and sensors as it moves around a store, helping direct customers to specific items and monitoring inventory, flagging low-stock or out-of-stock i
Read more

This year, artificial intelligence (AI) programs are invading just about every industry you can think of.

  This year, artificial intelligence (AI) programs are invading just about every industry you can think of.  By digging through huge amounts of data and making their own intelligent decisions, these ultra-smart programs are saving companies a fortune.  Most people outside the energy sector don’t fully understand just how much goes to waste. Experts typically agree that nearly 70% of all power generated worldwide is wasted through some form of “inefficiency.”  Considering the amount of money spent on energy, that’s frankly unacceptable. However, that’s the standard we’re forced to accept.  AI is already helping these companies in the energy sector unlock their hidden wealth.  By using predictive models and intelligent optimization software, every corner of the market is getting a much-needed upgrade. Power plant operators are saving boatloads of money that was previously left on the table.  Utilities are wasting less and providing better service for customers.  But most importantly of a
Read more