July - Sep 2020retailtechinsights.com6Copyright © 2020 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof. July - Sep, 2020, Volume 02 - Issue 02 Published by ValleyMedia, Inc. To subscribe to Retail Tech InsightsVisit www.retailtechinsights.comManaging EditorLinda BurnsEditorial StaffAaron SmithJoshua ThomasLisa DebraDerrick JohnJohn JamesSteven RichardVisualizerMark WilliamsEmail: editor@retailtechinsights.comsales@retailtechinsights.commarketing@retailtechinsights.comEditorialLinda BurnsManaging Editoreditor@retailtechinsights.comThe new age of e-commerce is undoubtedly pushing the brick-and-mortar stores to keep up with the evolution of retail. If watched carefully, despite the feasibility of e-commerce consultative customer service might fall flat. Here, blending AI technology with the traditional ways of customer service can help retain the significance of the brick-and-mortar stores. It's not very far when these stores will become more like their websites and their websites becoming more like their stores. Bridging the online and offline physical experience in the new digital age is the key. Artificial Intelligence has emerged to be one of those factors that retailers use to direct their businesses to be at par with the rising demands and expectations. Some of the key features that make businesses stand out to its customers begin with visual searches before the actual purchase. This definitely involves a better understanding of customer's needs and preferences while placing an order. Soon, based upon this trend, companies with high wishes will have the kind of technology that makes use of images to match users with their products. Even though in its nascent stage, this technology is likely to improve with further advancements in smartphones' cameras and sensors. Another existing trend finds its place in targeting customers' purchase history and personalizing offers for them, thereby driving sales. In such a context, AI helps in gathering customer insights through the searches made by the customers while purchasing goods online. This way, a brand always fetches more customer loyalty and draw attention toward it. On the other hand, retail businesses are likely to face a common problem of stocking and pricing, where there is room for human error. Market giants are trying out robots that scan aisles for missing products, reducing the number of human resources companies use to maintain a store. Finally, as the AI trends move forward and predictive algorithms read minds, there is always going to be the requirement of people to congregate and discuss the minutiae that they find relevant. This is how independent retail will continue to thrive. In this edition of Retail Tech Insights, we bring to you some of the leading companies that have excelled through innovation in delivering artificial intelligence solutions. We hope the inspiring success stories of these providers benefit our readers who are in pursuit of an ideal collaboration.Let us know your thoughts!Artificial Intelligence Changing the Face of Retail Industry*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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