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3 Inspiring Examples of AI in the Retail Industry

By Advanced Data & Analytics Team | Posted on March 4, 2020 | Posted in Artificial Intelligence (AI), Business Transformation, Operations, Featured, Advanced Analytics

As artificial intelligence (AI) solutions become more prevalent in business, it’s worth taking a look at how the technology is already helping to reshape the retail industry.

To that end, here are three examples of retailers putting AI to work to provide better service to customers.

1. Amazon

The online shopping giant has been, in many ways, at the forefront of AI adoption.

From early on, the company took advantage of AI to create a recommendation system that identified similar products customers may be interested in purchasing based on how other customers behaved.

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More recently, Amazon has put AI to work in its cashier-less stores. Here, customers simply open an app when they enter, select the items they want to purchase, and then walk out without the need for interaction.

By using the technology, the company is able to leverage everything from facial recognition to automation for linking product sensors to customer accounts with no lag time.

2. Stitch Fix

An online personal styling service, Stitch Fix connects customers to clothes by utilizing AI and machine learning (ML) to develop algorithms based on popular combinations and styles.

These algorithms then intelligently style entire outfits based on customer interests, seasonality, fit, and so much more. This way, all customers have to do is simply tell the company a little about their likes and dislikes. Then, before they know it, they’ll receive outfits based on that information.

The benefits of this approach are twofold:

  • Stitch Fix is able to serve more customers than traditional, in-person styling services.
  • Customers are able to have an experience normally reserved for the more affluent.

This almost makes us wonder: how did we dare buy clothes online before AI was integrated?

3. Walmart

With nearly 12,000 locations around the world, Walmart has turned to AI to help automate inventory management on store floors as well as the logistics of product transportation.

As a result, the company is able to continually find efficiencies in how it serves customers, better manage its supply chain, and ensure the right products are in the right places in their stores. This not only saves the chain resources, but it also optimizes the entire process of serving customers.

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