Retail
Four Big Data Trends for 2018
Big Data is too complex to be skillfully handled by traditional processing techniques and Artificial Intelligence is one key area it has found solace in. While Data will soon replace Gold as the most important asset to mankind, putting it for appropriate use has transformed seeking information. Not to miss, the biggest of impactful technologies be it Internet Of Things, Machine Learning or even the Decentralized Apps, Big Data drives them all. Here's what the trends have it in 2018 for Big Data innovations. Starbucks have deployed Chatbots to take orders in text while MasterCard lets them reply to your transactional queries.
How AI Will Help Online Apparel Retailers
If a user comes across desirable clothes on the internet, like in social media or an online magazine (Vogue, Cosmo, etc.), they can tap on an image of the clothes and will be directed to an online store. AI-driven products like Syte.ai and Visenze developed solutions to provide that kind of visual search. If someone wants to find similar items but with a better price -- and is also looking not just for a single dress but wants a complete outfit -- there are other types of products like Vue.ai and Findmine that will serve that purpose.
Amazon teases Alexa Super Bowl ad starring Jeff Bezos
If you want a good barometer of how far Amazon Alexa has come, you just need to look at the company's teaser for its Super Bowl LII ad. Where Amazon's first-ever Super Bowl commercial was eager to sell you on the still-unproven Echo using as much star power as possible, the biggest star (so far) in the teaser is Jeff Bezos -- you know, the company's own CEO. The clip has Bezos giving the tentative go-ahead for a sketchy Alexa replacement after the AI assistant loses her voice. Both the inclusion of Bezos and the very subject of the ad (a national panic caused by the absence of Alexa) show the kind of confidence Amazon has going into 2018. The 2016 ad reflected Alexa's young state.
Flipboard on Flipboard
Artificial Intelligence is real and it is here. But successfully putting AI into action isn't exactly a walk in the park -- it requires a fundamental rethinking of the business. The pressure is on -- 53 percent of executives responding to a recent survey said their industry has "already experienced disruption" due to AI. An example that applies to potential AI-driven disruption in the retail sector is Amazon's Go store in Seattle, which employs AI to operate with no checkout clerks or lines -- purchases are tracked as shoppers remove items from the shelves. Along with signaling disruption, a recent survey of 1,000 business and IT leaders commissioned by Infosys which finds AI -- as we know it today -- has moved beyond the experimentation stage, and is delivering real benefits.
Why 1-800-Flowers, eBay, Cosabella are hot for AI
Cosabella, eBay and 1-800-Flowers.com may not appear to have many things in common at first glance. While Cosabella and 1-800-Flowers.com are family owned, the first was launched in 1983, as an importer/exporter of Italian-made garments. And then there's eBay, founded in 1995, and boasting its own successful e-commerce history that evolved from online auction sales to offering services such PayPal and online ticket sales. But a closer look at the three retailers reveals a strong passion for driving personalization and customization and staying at the forefront of conversational commerce to ensure customers get what they want, what they expect and, quite frankly, what they're demanding when it comes to ways to interact and buy. The retailers also have another common trait: an ongoing love of technology.
4 Ways You Can Use AI to Enhance Every Step of the Customer Journey
AI has disrupted the retail industry, and that's a good thing. Consumer behavior is increasingly managed by AI, leading to an unparalleled online shopping experience. AI-powered tools have made it easier for even non-techie CMO's to deliver a highly personalized experience by anticipating consumer needs and making real-time predictions. AI-powered marketing is helping marketers to satisfy increasing customer expectations. It's with the help of artificial intelligence that even small- and mid-scale retailers are able to provide an exceptional one-to-one customer experience like Amazon, Walmart and Nordstrom.
Chinese Convenience Stores to Usher in Golden Era With AI, Report Says
With artificial intelligence applications in the retail industry, China's convenience stores have great market potential and will usher in a golden era, per a report the China General Chamber of Commerce released today. Smart retailing services with AI advanced quickly last year, and more plans for the efficient operation of unstaffed convenience stores will surface in the next three to five years, the report said. The Chinese gross domestic product's growth rate will remain around 6.7 percent, while retail sales of consumer goods will increase by 10.1 percent, CGCC said. The effects of rising household consumption will expand further, and such consumption will be a major contributor to China's economic growth, the report said. Spending on tourism, sports, culture, entertainment, wellness and pensions will grow rapidly this year, and the retailing and catering sectors will develop steadily while integrating with the aforementioned fields, CGCC Vice Chairman Fu Longcheng said.
Ikea sees 'massive opportunities' with artificial intelligence and virtual reality
Sweden's flatpack furniture giant is exploring how to make the best use of artificial intelligence (AI) and virtual reality. Speaking at the World Economic Forum (WEF) in Davos on Thursday, Jesper Brodin, CEO of Ikea, told CNBC: "(What) we haven't been able to do before is to find easier ways to connect with people so digital opens up massive opportunities for us." Brodin added a "major shift" in technology over recent years had prompted the furniture powerhouse to begin testing AI and virtual reality. Several retailers have been betting on AI as the tech becomes more sophisticated and as competition from the likes of Amazon grows even tougher.
Bill Gates thinks AI taking everyone's jobs could be a good thing (MSFT)
Bill Gates, the billionaire co-founder of Microsoft, thinks that artificial intelligence will take over a lot of jobs and ultimately will be a good thing. In an interview with Fox Business, Gates said that robots taking over our jobs will make us more efficient, and lead to more free time. "Well, certainly we can look forward to the idea that vacations will be longer at some point," Gates told Fox Business. "If we can actually produce twice as much as we make today with less labor, the purpose of humanity is not just to sit behind a counter and sell things, you know?" Gates is arguing that AI, the technology that some fear is already stripping jobs from primarily low-wage workers, is just allowing us to better manage our time. If artificial intelligence allows us to get in our cars and reply to emails on our way to work, it would definitely save time.
Artificial Intelligence Isn't Killing Jobs; It's Killing Business Models
Artificial Intelligence is real and it is here. But successfully putting AI into action isn't exactly a walk in the park -- it requires a fundamental rethinking of the business. The pressure is on -- 53 percent of executives responding to a recent survey said their industry has "already experienced disruption" due to AI. An example that applies to potential AI-driven disruption in the retail sector is Amazon's Go store in Seattle, which employs AI to operate with no checkout clerks or lines -- purchases are tracked as shoppers remove items from the shelves. Along with signaling disruption, a recent survey of 1,000 business and IT leaders commissioned by Infosys which finds AI -- as we know it today -- has moved beyond the experimentation stage, and is delivering real benefits.