If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Which AI applications are playing a role in automation or augmentation of the retail process? How are retail companies using these technologies to stay ahead of their competitors today, and what innovations are being pioneered as potential retail game-changers over the next decade? Innovation is a double-edged sword, and as with any innovation, results are a mixed bag. While many AI applications have yielded increased ROI -- this case study of AI in retail marketing segmentation is one example -- others have been tried and failed to meet expectations, shining a light on barriers that still need to be overcome before such innovations become industry drivers. Below are 10 brief use cases across five retail domains or phases.
As we've seen unfold in recent years, artificial intelligence (AI), machine learning (ML) and data analytics are rapidly changing the speed at which the retail industry operates. As these technologies become increasingly popular among leading retail companies, it's clear that early adopters of AI have seen a sizable financial advantage compared to retailers that haven't yet adopted the technology. Non-adopters will need to erode their margin to stay competitive on price, while adopters with sizable financial gain will be able to weather volatility on price inputs. AI is being used as a differentiating factor between smaller retailers as a way to get ahead and capture market share. The gap between adopters and non-adopters will continue to grow, meaning AI is no longer just a way to get ahead of competitors -- it's become a pivotal part of staying relevant in the industry and maintaining innovation.
The responses to the COVID-19 pandemic and its impacts on societies and economies around the globe can't be downplayed. Despite the fact that researchers have cautioned of quick-spreading ailments, most governments were underprepared and organizations of all sizes are asking workers to work from home or are confronting shutdowns (and at times, spiking demand). The epic coronavirus has expanded enthusiasm for robots, drones, and artificial intelligence, even as some testing of autonomous vehicles delays on open streets. These advances can help manage enormous staffing deficiencies in healthcare, manufacturing, and supply chains; the requirement for "social distancing;" and analysis and treatment. We don't yet have the foggiest idea about the long-term effects, yet there are more instances of how robotics is addressing the challenges presented by the pandemic.
April ended and ushered in May with a number of deals on wearables, smartphones and smart home gadgets. Best Buy knocked the starting price of the Apple Watch Series 5 down by $100, and Android users can still grab a Samsung Galaxy Watch Active for only $120. It's also a good time to step up your spring-cleaning game as a couple of iRobot Roombas are still on sale. Here are the best deals we found this week that you can still get today. The Fitbit Inspire HR fitness tracker remains on sale for $70 at Walmart, Amazon and Fitbit's website.
Maxime Firth's business is complicated to manage, even in good times. His company, Onduline, turns recycled fibres into roofing material, after dousing them with bitumen to make them waterproof, and sells products in 100 countries. Its eight production plants span from Nizhny Novgorod in Russia and Penang in Malaysia, to Juiz de Fora in Brazil. Further complicating his supply chain, Mr Firth's business is strongly seasonal. People install roofs in the summer, so products are made from January to March, to sell from April to September.
As a pandemic grips the world, a person could be forgiven if they had forgotten about another threat to humanity's way of life - the rise of robots. For better or worse the robots are going to replace many humans in their jobs, analysts say, and the coronavirus outbreak is speeding up the process. "People usually say they want a human element to their interactions but Covid-19 has changed that," says Martin Ford, a futurist who has written about the ways robots will be integrated into the economy in the coming decades. "[Covid-19] is going to change consumer preference and really open up new opportunities for automation." Companies large and small are expanding how they use robots to increase social distancing and reduce the number of staff that have to physically come to work.
The coronavirus pandemic is changing the way we shop, especially for groceries. From donning masks to wearing gloves, many Americans are taking extra precautions when stocking up on pantry staples and other essential items. Grocery shopping online has become a great option for many during quarantine, and if you're shopping at Walmart, Google Assistant can help. With a few simple voice commands, you can order everything you need from Walmart using a Google-Assistant-enabled speaker or smartphone. While this may not be ideal for massive shopping lists, when you're standing in your kitchen looking at a cookbook or recipe site, it's convenient to just read off what you need to your smart assistant.
Major retailers have a lot of power over vendors. A chain like Walmart (NYSE:WMT) can, for example, go to a medium-sized vendor and ask it to cut prices by 2% or lose some of its shelf space. That's typical and it helps keeps prices low for consumers. It's also challenging to keep track of for a company operating on the scale Walmart does. To help with that, the retail giant has reached a deal to pilot technology from Pactum to help it negotiate contracts with some of its vendors.
Help prevent quarantine brain drain with these 32 amazing coding toys (Photo: Reviewed.com Purchases you make through our links may earn us a commission. With the onset of the coronavirus pandemic and the subsequent closing of schools, more and more parents are looking for novel ways to keep their kids' education on track. Fortunately, there are a number of online learning resources are available for kids of all ages. One extremely useful skill that kids can learn remotely is computer programming. Coding is becoming essential knowledge because the world runs on computers, and computers themselves run on code. I had the chance to try out 32 toys, games, and kits that are aimed at teaching children how to code, listed here in order of age--if you're looking for kits for older kids, skip to the middle or end of the list. Full reviews for each coding kit can be found in our full Reviewed roundup. The Hasbro Code-a-Pillar is a great way to get kids thinking about programming basics.
Are your enterprise's partners, customers, and employees growing weary of unfulfilled technology and innovation promises? Maybe there's a sense of resentment about technologies that don't work as promised. Or perhaps there's some concern about what's being sacrificed to pave the way for this technological progress. Fueled by headlines about the questionable ethics of big tech platforms such as Facebook, Google, and Amazon, this "techlash," or backlash, is directed against Silicon Valley tech firms and innovation. The general public has become more suspicious of technologies that seem creepy in terms of invading privacy and maybe even acting in a manner that is ethically questionable.