In the realm of “AI in Retail” research, numerous applications emerge. However, this blog post focuses on a select few AI use cases that significantly impact retail operations. While other crucial aspects may also benefit from AI, this article primarily explores areas where AI demonstrates its potential in a meaningful way.
Key Issues Facing Retailers Addressed by AI
As we pen down this article towards the end of 2023, retailers grapple with the following pressing concerns, ripe for AI intervention:
- Get Insight into customer’s behaviour
- Cost-effective engagement, education, and service of customers
- Precise, comprehensive, current, and customized product information delivery
- Enhanced shopping experience optimization in physical stores
- Creation of an ‘Endless Aisle’
Get Insight into customer’s behaviour – HumanX provides retailers profound insight into customer behavior, likes & preferences and sentiments regarding your organization, unmatched by any other channel.
Engaging, Educating, and Serving Customers Efficiently: Conversational AI and Generative AI excel in understanding human needs and generating comprehensible responses. Applications include chatbots, virtual assistants, and personalized product suggestions. By employing AI, retailers can efficiently engage, educate, and serve their customers (AI Wizards, 2023).
Simplifying Information Access: At AI Wizards, we innovatively bridge the gap between consumers and information. Our ground-breaking approach, HumanX, presents a one-page website where AI delivers the required data instead of forcing users to navigate multiple pages and execute countless searches.
Precise Product Information On Demand: While answering product queries diverges from customer service, both require AI technologies working synergistically. Visual search powered by Computer Vision AI facilitates locating products using smartphones or in-store kiosks. ProductIQ from AIWizards provides a visual product search solution. Upon identification, the product enters the ProductQA AI engine, enabling it to respond accurately to customer inquiries.
Improving Brick-and-Mortar Shopping Experiences: For years, kiosks and digital signage have enhanced in-store shopping experiences. With the introduction of AI, these tools become even more effective. Customers can now interact with kiosks using voice, text, or visual search commands, streamlining usage. Furthermore, AI-powered kiosks can supply rich, relevant information, tackling complex queries typically addressed by knowledgeable staff members.
Creating an Endless Aisle: Leveraging Visual Search, Q&A, and conversational interfaces, retailers can effortlessly construct an ‘Endless Aisle.’ When customers engage with any AI solution, a fitting response is presented, expanding the range of choices available to them.
Though AI permeates various sectors, genuine AI applications lie in conversational and generative AI capabilities—communicating with humans, extracting vital information, and presenting it in a readily digestible manner. Moreover, Computer Vision AI empowers customers to discover and explore information utilizing images instead of mere text (AI Wizards, 2023). AI Wizards boasts an impressive in-house tech portfolio consisting of AI Human, AI HumanX interfaces, AI Visual Search, Product IQ, and AI Kiosks. Reach out to us with your unique retail requirements, and let’s collaborate on implementing AI solutions designed exclusively for retailers, system integrators, and consultants.
