Top 3 Benefits of Adopting Artificial Intelligence in Retail Industry

By: Retail CIO Outlook | Wednesday, June 10, 2020

AI is known to assist humans and ease the work and search burden. From customer acquisition to post-purchase experience, AI can impact the retail industry in a holistic end-to-end manner.

FREMONT, CA: The retail industry is increasing at an incredible pace, and customers find themselves improving. While considering enhanced AI in retail, the vendors will undoubtedly adopt graph database technology. Chatbots helps to assist store customer service, supply chain management, and logistics. AI in retail expects to see an increasing number of brands deploying solutions to known which customer is buying or just browsing an ecommerce application.

Let's look at some of the benefits of AI in Retail.

Virtual Merchandising

By deploying AI in retail, size visualization will benefit more than any other platform and services. Vendors across the world spend approximately $100- $1000 per production photography and digitization. The high-cost of visual merchandizing manually means the merchandise is more likely to be non-inclusive and fails to depict the product accurately. The time-to-market is also slow prohibitively and expensive.

Personalized Curation

Shoppers in 2020, doesn't encourage page after page of irrelevant products. Instead, they look for unique collections curated, especially with their taste preference. An AI-driven styling assistant can curate looks, outfits, collection, and mood broads for every shopper based on their visual style preferences. Each of the shoppers can attain their personalized styling recommendations for every product they browse, enhancing the number of products in the cart while simultaneously giving a great experience to the shopper.

Automated Product Tagging

Automated Product Tagging is another critical area where AI brings a significant impact. AI uses machine learning to understand the taxonomy of equipment and train the machine using neural networks to create the tags.

Automated product tagging makes it easier for the catalog managers to curate inventory, which helps in better understanding merchandise and pushing it out faster. It gives more accurate attributes for products and helps in better search results.

AI and automation help the retail industry across the world to improve efficiencies across the workflows. Automation procedures help brands with correct data creation and provide contexts to the shopper's needs.