What are the Top Use Cases of AI in Retail Industry : In the next few years, AI will transform retail, affecting everything from cost structures to customer experiences. AI is closely related to e-commerce, and the burgeoning e-commerce growth rate accelerated by the coronavirus pandemic makes AI adoption more urgent. The benefits gained through AI will reshape the sector. This means retailers should start planning now. And these plans should be at the business strategy level, not the technology level. While many businesses recognize the value of AI, it faces major barriers such as lack of talent, lack of the right skills, inadequate IT infrastructure, and vague commercialization and adoption strategies. Retail AI is also evolving rapidly, developing new capabilities that learn, predict, and ultimately mimic human interactions. The challenge for retailers is to effectively use these features and enable their organizations to get the job done.
The following are the top use cases of Ain in retail Industry : 1. There may be no cashiers in the store: Robotization of stores can reduce lines, reduce the number of employees, and significantly reduce operating costs. Amazon AI has already introduced cashierless stores. Amazon Go and Just Walk Out Shopping technologies respond when items are taken from and placed back on shelves. When you leave the store with the product, you receive the purchase amount in your Amazon account. Amazon wants to create more stores powered by artificial intelligence, such as Amazon Go, which only needs 6-20 employees. 2. Chatbots to support customer service.: AI chatbots provide a higher level of customer service, improve searches, send notifications about new collections and suggest similar products. If the customer has already purchased a black hoodie, the chatbot can suggest a matching snapback, and the look is complete. 80% of brands worldwide are already using or will use Applications of chatbots in the near future. 3. In-store support. Retailers also invest in technology that supports customers in the shopping process and also supports store associates. Kroger Edge technology eliminates paper price tags in stores. Smart shelf tags are now used. The technology also provides video advertisements, nutritional information and promotions on display. Lowe's autonomous store robot, Lowbot, helps customers find what they need in the store in multiple languages.