Retailers are Reaping from Embracing Artificial Intelligence

by Nick Gordon
Retail Innovation
POSTED BY: Nick Gordon       IN Artificial Intelligence    

Technological advancement has continued to grow with each passing day. Immeasurable progress is being made in different technological fields. Artificial Intelligence in specific has become a major part of every business firm. Adapting and assimilating its use is however becoming difficult and time will be an essential factor in operations adjustments. Seamless compatibility of artificial intelligence into different business organizations such as wholesaling and retailing will ensure excellence.

The launch and entrance of the chatbots into the industry, is an advantage to the retailers. The chatbots are artificially intelligent and multipurpose. They can be used to access customers and build relationships through their interactive conversational platforms. Artificial Intelligence has enabled the shift and promoted growth from physical, electronic to conversational commerce. Centurysoft, defines conversation al commerce as the use of messaging, chats and other interactive interfaces with speech input and output to associate with other people, business entities or brands inclusive of services. This is strictly in the messaging context.

The overload in regards to apps has led to a delay and decrease in usage. People are now interacting far more effectively when using the messaging platforms. Retailers are being drawn to these intelligent interfaces. However, many are still doubtful of the fundamentality of the bots. Here are some of the A.I. interfaces offering their assistance to the retailers.

Mobile Companion

Centurysoft has hinted about this A.I. that is being tested in the market. Its main aim is to offer answers to customers in relation to products, different brands, inventory, location etc. it provides you with the answers you need for each question asked.

Mobile Companion

IBM Watson

This has the ability to differentiate between different products. Questions are answered in real time mode. This ensures customer convenience, engagement and fast decision making in regards to purchase. It is aimed at becoming a leader in the A.I. market especially for retailers.

Bluetooth Beacons

Launched by Neiman Marcus, the A.I. is designed to use information at its disposal to locate any item or place using its wireless nodes otherwise referred to as beacons. The beacons will guide you to sales, promos and its possibilities are enormous.
Neiman is also said to be testing a new system i.e. Magical Mirrors. An A.I. interface that will enable you to shop, compare outfits that have been tried on and create shopping accounts. The accounts will assist you in manipulating, the already tried on outfits and to share any images in the social media platform. In addition, the account can be remotely accessed which offers endless opportunities.

Target

This is the perfect example of an A.I. device specialized to fit the needs of the business. It has an interactive technical space in which the customers and vendors interact directly. Vendors can provide their designs in real time and the customers are able to select what they want.

Human Touch

Artificially intelligent agents is not here to replace human service. Artificial intelligence is meant to enhance the quality of service offered by retailers and other business entities. Chatbots and other A.I. interactive interfaces may initiate conversations, provide customers with simple basic answers, let you know of the nearest retail shop to where you are but when it comes to complex issues, human intervention will be required especially in customer care services.

Human Touch
Silvia, has proven that the utilization of A.I. has endless possibilities. In retailing, interactive sales agents, personal assistants will be essential on increasing amount of sales made. Artificial intelligence integrates the social media, including Google, which can be used to the advantage of the retailers. If the client knows where you are, the promotions you are making when and in what products, retiling is simplified and revenue increased.

Conclusion

Artificial intelligence and its use in any business is proving to be an essential factor. It adds value through timely deliveries, increased convenience and quality products. In the near future, it is possible that we will be using A.I. to predict the future and proactively plan for it. Retailers therefore, should use A.I. now before time passes them by.

Author: Nick Gordon

Nick Gordon is a senior writer at Centurysoft Blog, where he covers topics such as Digital Media, Data Analytics, Chatbots, Artificial Intelligence and Business Intelligence. He attended Stanford University and now lives in Brooklyn. He enjoys traveling, live music and reading a good book in his spare time.