Many of the world’s biggest retail brands are turning to artificial intelligence (AI) to drive growth and improve their bottom line. From personalized product recommendations to automated inventory management, AI is helping retailers stay ahead of the curve and meet the evolving needs of consumers. Here are a few articles that explore how retail brands use AI.
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Amazon
Amazon uses AI in its Amazon Go stores to create a seamless, cashierless shopping experience for customers. This is achieved through a combination of computer vision and machine learning techniques. Cameras and sensors are used to track customers and products as they move throughout the store. This data is then analyzed by AI algorithms, which are able to accurately identify products and track which items a customer has picked up. This allows customers to simply walk out of the store with their purchases, with the cost automatically charged to their Amazon account.
Target
Target uses AI to help with demand forecasting, order fulfillment, and all aspects of the supply chain by suggesting products based on searches. They partner with other AI companies to offer new services to their customer base, acquire smaller tech companies to hire on their leadership and work on new AI applications and algorithms to drive sales. Target also uses AI for smaller projects like checking the quality of images on the company’s website or fixing setup issues with products.
Lidl
Lidl, has launched an AI chatbot called Margot to enhance the wine-buying experience for shoppers. Developed in collaboration with Aspect, the chatbot operates through Facebook Messenger and provides guidance on wine selection using conversational language. Margot assists in considering factors like pricing, origin, and food pairing, while offering explanations about wine varieties and sweetness levels, along with interactive quizzes. Additionally, the owners of the Lidl supermarket chain are among those investing more than $500mn in German AI start-up Aleph Alpha.
Lowe’s
Lowe’s created LoweBot, a virtual assistant that can be found in select Lowe’s stores. The LoweBot is a robot that uses natural language processing to understand customer requests and provide assistance with tasks such as product recommendations, store information and location of products within the store. Customers can interact with LoweBot by asking questions and making requests through a touch screen interface, or by speaking to the robot. The LoweBot can also provide additional information such as product specifications and prices, and it can help customers with more complex queries such as how to complete a DIY project, providing step-by-step instructions and even product recommendations.
Walmart
Walmart used AI with its shelf-scanning robots to improve store operations. The robots were designed to roam the store aisles and scan shelves for out-of-stock items, incorrect prices, and other errors. However, the company no longer uses these robots as they were not able to provide the desired results. Walmart found that the robots were not able to identify when products were out of stock. These issues led Walmart to discontinue the use of these robots and instead focus on other technologies such as computer vision, machine learning and automation to improve the store operations.
eBAY
eBay is leveraging AI to revolutionize the selling experience by simplifying the listing process. Their AI-powered tool enables sellers to input minimal data and obtain AI-generated descriptions, resulting in positive user feedback and high adoption rates. Their focus spans various product categories, like trading cards, aiming to streamline the process by providing essential product details demanded by buyers. Additionally, they’ve enhanced image quality using a background removal tool, recognizing its impact on driving sales.
Macy’s
Macy’s uses AI in its On Call app, a virtual personal shopping assistant. The app is designed to make it easy for customers to get help with shopping and finding products in the store. The On Call app is equipped with an AI-powered chatbot that can assist customers with a variety of tasks, such as finding store locations, providing information on sales and promotions, and recommending products based on customer preferences and previous purchases. Additionally, the app also uses computer vision technology to allow customers to take a picture of an item they like and find similar items available in the store or online.
Nordstrom
Nordstrom has created a platform to personalize customer experiences through AI-powered analytics called Nordstrom Analytical Platform (NAP). NAP facilitates real-time event capturing and predictive modeling to create personalized product choices. The focus is on AI-driven discovery for customers, utilizing deep learning in fashion mapping to interpret images and social data. Nordstrom aims to offer a highly curated, personalized digital experience to each customer with NAP.
Kroger’s
Kroger, is teaming up with Nvidia to establish an advanced AI lab and demonstration center aiming for multiple enterprise objectives. The partnership aims to enhance Kroger’s freshness initiatives, logistics, and in-store shopping experiences through digital twin simulations, virtual models mirroring store operations accurately. Kroger is also expanding its online delivery efficiency with AI-driven customer fulfillment centers (CFCs) in partnership with Ocado.