Customer experience as a key differentiator has always been a challenge for retailers to remain relevant and competitive in this fast-evolving industry. Retailers need to completely rethink their business processes. It is not enough to digitize traditional processes and put together solutions that bring digital and physical together, they also have to exploit new technologies and adopt cultural changes that improve customer engagement, involve employees, optimize operations, transform products and finally stimulate growth and opportunities for the business. So how AI in retail is bringing retail experience to the next level, read our article.
AI and Analytics
Source: peak.ai
In today’s fast-evolving retail industry, customer experience is a key differentiator that helps retailers remain relevant and competitive. To achieve this, retailers must completely rethink their business processes and adopt new technologies that optimize operations, transform products, and improve customer engagement. With the evolution of technologies such as cloud computing, robotics, and cognitive capabilities of machines, retailers can now cover a wide portion of their journey with AI capabilities. They are integrating business intelligence in all possible interaction points, enhancing inventory management, improving sales predictions, and optimizing online and in-store experiences. As a result, AI in retail is no longer a nice-to-have but a must-have for retailers to meet the ever-changing needs and expectations of consumers.
AI for workforces
AI in retail not only impacts customer experience but also operational activities. Retailers are investing in collaborative communication tools and data-driven equipment that democratize access to information. With AI, everyone in the company can access analyses and new productivity tools to offer a more personalized experience to customers. The use of robots in the supply chain has also led to operational efficiency, allowing human workers to be redeployed in more value-added activities. Therefore, the co-habitation of the human and robotic workforce is the next big challenge for retailers’ HR and IT to ensure a sustainable partnership between the two workforces.
AI in the Supply chain: Covering the last delivery mile
Source: paragonrouting.com
Last-mile delivery is one of the biggest challenges for retailers due to high cost and complexity. However, with AI in retail, retailers can start building an integrated and automated fulfillment network, creating an optimum operating model for delivery and increasing customer satisfaction with fast and controlled delivery. AI in retail has also introduced deep learning cognitive capabilities, which have led to voice being used as a new channel that retailers can present, sell, or even upsell their products on. With optimized cognitive capabilities, AI in retail can now easily understand customers’ orders, place them, and even recommend other options that might fit their needs. Thanks to AI in retail, retailers can offer a simple and efficient channel for customers to interact with and deliver the closest human experience at scale.
AI empowering voice interaction: the most humanized cognitive channel
In the ever-evolving world of retail, customer interactions are becoming increasingly important. Therefore, customers are looking for simple and efficient channels to interact with retailers, while retailers are striving to provide the closest human experience possible on a large scale. This is where AI in retail comes in, introducing deep learning cognitive capabilities that have led to voice becoming a new channel for presenting, selling, or upselling products.
Thanks to optimized cognitive capabilities, including pronunciation analysis, keyword recognition, and machine deep learning, AI in retail can easily understand customers’ orders and even recommend other options that fit their needs. Furthermore, the use of voice technology has become especially prevalent, with Amazon Alexa leading the charge. Alexa’s B2B business model allows retailers to embed voice capabilities into their apps and websites, making it the most humanized tool for shopping.
By empowering voice interaction through AI, retailers are able to provide customers with a more personalized and efficient shopping experience, ultimately driving growth for their businesses. With the power of voice technology, retailers are better equipped to understand and meet their customer’s needs while delivering the closest human experience possible at scale.
Article by Bassem Khalil
Source : https://www.atomtickets.com/legal/amazon-alexa