Artificial ( intelligence ) Retail

The world around us is likely to change fast , and the new buzz words are machine learning , deep learning , artificial intelligence , the Machines are surely getting trained to do what Humans used to do , soon ;looks like the Human race will have to go back to Hunting again  ( LOL ) 

Retail will have its fair share off  influence using  the artificial intelligence platform , here are some interesting  pilots underway 

Shirt via Photo  -- using  AI ,one will be able to stitch a shirt for  you , from a single photo upload that you have to do on a site -- Imagine the power of this on  ecommerce sites , the return rates should come down , read more about it here - BODYGRAM Https://aitopics.org/tag/Bodygram

 The Video is Watching    -- using advanced CCTV retailers are able to study time taken in each section , buying patterns of consumers  , and also of course keep an eye on shoplifting ! 

Gift for your Mom : This is a tool that retailers like 1800-Flowers.com are using to help consumers pick out just the right gift. For example, 1800-Flowers.com created “GWYN" (Gifts When You Need), a new AI-powered gift concierge that behaves like your own “personal assistant” and learns your preferences as you interact with the system. Through a series of questions, it can get smarter and predict the type of gift that might be most appropriate for somebody. For example, a customer might type, "I'm looking for a gift for my mother," and GWYN will be able to interpret their question, and then ask a number of qualifying questions about the occasion, sentiment and who the gift is for to ensure she shares the appropriate, tailored gift suggestion for each customer. It pulls data from the interaction but also many other sources such as consumer buying trends and behaviors.

Which Product to  select: The North Face, an outdoor apparel, equipment and footwear retailer, launched a new interactive online shopping experience . Consistent with The North Face brand’s mission of applying technology to transform the retail experience, customers can now use natural conversation as they shop online via an intuitive, dialog-based recommendation engine powered by Fluid XPS and receive outerwear recommendations that are tailored to their needs. 

 For example, after a shopper enters details on a desired jacket or outdoor activity, XPS will ask questions about factors like location, temperature or gender to provide a recommendation that meets the shopper’s specific usage and climate needs.

Over Stock and Under Stock : A key challenge for retailers is managing their inventory levels. Ideally, you have just the right amount of stock on hand to meet consumer needs. If you are out-of-stock, you risk upsetting the consumer and having them go to another store. If you have too much stock, you have wasted money that you could have used elsewhere. So how can AI combat being out-of-stock? AI teams are  working with retailers to monitor weather, purchase rates and consumer behavior to do a better job of managing and monitoring supply chains to right size inventory levels and avoid out-of-stocks. 

Recognize the consumer and their wants  : AI is changing how marketers generate insight about consumers to provide more contextual relevance. Understanding things like social profiles, movement, weather, and behavior, AI can help marketers understand at a more granular level what consumers want and need. Consumer needs are dynamic—not static—and require an insight machine that can take this dynamism into account and feed it into your marketing plans. AI goes through a progression of understanding, reasoning, learning, and then adapting insight. Further, AI can include a lot more information in its learning process so that the marketing is more customized at the individual level. For example,  AI includes a tone analyzer. The system understands (through augmented intelligence) natural language and it learns over time so that you can reason and adjust offerings. 

the list off possibilities using AI is endless , like other industries the changes would be radical here too , ......yes HUNTING IS STILL an option for the human race  :) !!

(PS ::article compiled from the net ,not fully self written)