AI: What You Don't Know

People always talk about artificial intelligence (AI), but they remain reluctant to dig into what it means or how it can implicate their businesses. Enterprises need to go beyond a basic understanding and learn how AI can unearth what they don't know about their own company. For a retailer, decisions regarding stock levels, price points, distribution volumes or even promotions all fall under this "what you don't know" umbrella. Most decisions are largely made by gut feeling -- an individual who believes their experience will always outperform a computer. When unhindered by human interference or pride, AI and machine learning (ML) will instead ensure that all these decisions are made off the back of statistics and data pulled from every action taking place within a retailer's stores.