adminThe Best Examples of Using AI in Retail:
Artificial Intelligence is omnipresent in today’s retail sector. Here we represent some examples of retailers that are efficiently using AI in their business functions:
Sephora Utilizes AI to suggest makeup. Famous makeup brand Sephora uses AI to recommend makeup for its customers. Finding the correct makeup for most females can be challenging because of their skin type and color complexion. Color IQ examines their face and advises foundations and concealers accordingly. LipIQ is also a component of the ColorIQ technology that scans the lips and proposes an appropriate lip color.
LOWES uses LoweBots to find Items. Finding an item in stores where multiple items are placed can be a back-breaking task for customers. This is where LoweBots come in conveniently. In the LOWES stores, these bots wander around and give directions to customers. They will keep asking about what you’re trying to find and assist you based on the answers you provide them.
North Face brand advises Coats to Customers — North Face employs AI to offer coats to its customers. The customer has to tell the event details to the bot, which can figure out which coat will best suit the event.
Walmart employs AI to Monitor Inventory — Walmart is one of the earliest retailers to use AI to operate its in-store inventory. The advanced bots can scan all the galleries to see the inventory level. They send notifications to the store’s depository to refill inventory whenever required.
How AI is Setting New Consumer Standards:
Artificial Intelligence plays an essential role in generating new consumer trends and standards. AI plays a vital role in setting new consumer trends and standards. Consumers do not need to struggle hard to find products anymore. Previously, consumers faced a dilemma in finding out what they were looking for.
Artificial Intelligence now maintains track of their last searches and recommends a product even when the customer isn’t asking for it. It just strikes the nail on the head, as customers now don’t have to see the unwanted ads anymore. Since AI-fetched ads are relevant, they become more engaging rather than annoying for customers.
Social media users are also experiencing the power of AI. Have you often seen a product on a social media platform when you have searched for it on Google? Possibly, every time. These targeted advertisements suggest to customers what they want. If many customers like the product, then it becomes a new trend. AI also identifies customer behavior towards a particular product and aids companies in knowing whether it’ll sell.
The Future of AI in Retail:
No doubt, the future of AI is shiny and glittery in the retail world. Although this technology offers so many benefits, it is still in its beginning stage. We are the first generation experiencing the magic of AI. The reality is that AI has just started to bloom, and in the coming years or decades, we will be able to see its full potential.
Even when it is in its infancy, many retail companies are leveraging its benefits. They now create their strategies based on consumer behavior. While AI keeps advancing, we can expect it to automate more and more operations in the retail industry in the coming years.