Visual Commerce in 2018: How AI is Shaping the Future of Retail
By Steve Hand
Artificial intelligence (AI) is arguably one of the most exciting technologies that our modern society has access to. That’s partly because we’re still getting to know its full potential. Its applications vary from its ability to plan and route traffic in cities to how we’ll be able to process data to sell more products. This applies both online and in-store, too. One of the most obvious AI retail trends is the way it can be used to further optimise customer experience. For example , playing classical music doesn’t make customers buy more wine. It does make them choose more expensive bottles. Retailers often take advantage of that fact to boost their profits. But that’s just one nugget of information. There’s so much more that we could be doing to further optimise our retail stores. The problem is that we don’t know what we don’t know. That highlights one of the most exciting AI use cases in retail. That’s because the real strength of AI in retail is the fact that it can process vast amounts of data. Data that no human being could ever understand. It can also draw conclusions that a human might not have arrived at. This is good news for the retail sector. Anything that gives you an edge over the competition is worth investigating.