Artificial Intelligence (AI) is the newest and the hottest development in the technology landscape for a couple of years now.
FREMONT, CA: Almost every market segment, industry, and business domain are actively interested in AI and are looking ahead to harness the technology for business advantages. AI provides the companies with the power to decrease expenses and make the shopping experience more delightful as well as efficient for the end consumers.
With more and more applications for machine learning, predictive analytics, and deep learning technologies being experimented with success, digital disruption in the retail industry is clear to happen at a rapid pace. All through the world, AI experts believe that technology comes with a wide range of applications for the retail industry. In years to come, retail will see a higher blend of AI-based solutions in everyday operations. AI tends to change the customer service cycle in retail and retailers as well.
The Impact of AI:
AI can serve as a beneficial aspect for retail companies that collect as well as possess customer data. AI can extract valuable conclusions from a vast amount of information and help companies to create customized shopping experiences through highly-structured webshops, intelligent in-store bots, and online chatbots.
Digital Product Racks:
With AI technology, apparel retail brands can build virtual racks and trial rooms that have gesture walls and touch-free monitors to explore the right style, without shuffling through a messy pile. Customers can immediately see how a dress might look on them and browse through suggestions based on their preferences and style quotient. The method will not only enhance the shopping experience but will also help the customers to pick from millions of options, which is not possible in a physical store due to space constraints. With the help of AI, a store can be transformed into an active repository of designs and draping ideas that customers can select from. Additionally, the stores will be able to collect more in-depth insights into consumer behavior, optimizing the assortment of products for a better retail experience delivery.
Leveraging AI, smart analytics, and natural language processing technology can help the retail stores to give the customers the power to get immediate support, within the stores. By keeping robots and touch panels in the stores, retailers can help the customers to locate an item and get answers to their queries in a more natural way.