By Eugene Eaton How far did we manage to pursue our dream of having Artificial Intelligence taking care of complex tasks that took a lot of human work? The answer to this question may come as a surprise for some of you because it appears that AI is currently in use more than we think.
By Eugene Eaton
How far did we manage to pursue our dream of having Artificial Intelligence taking care of complex tasks that took a lot of human work? The answer to this question may come as a surprise for some of you because it appears that AI is currently in use more than we think. From Google’s Hummingbird to Amazon smart stores, machine learning algorithm-based software runs analytics, decision-making operations, and interacts with humans. How will this trend of increased AI use affect the sales industry in 2019 is the topic we are going to discuss in this article.
It’s just a matter of time when AI will handle all those tasks we thought were reserved for humans. These new age software solutions are becoming more and more affordable and used in all sorts of industries. It’s just a matter of time when smart software will be able to provide essay writing service, prepare our food, or treat our diseases, however, until that day comes here’s what AI is bringing in the retail industry.
When it comes to sales industry, the logistics represent one of the most complex and demanding aspects in terms of sorting, shipping, and overall inventory management, especially in warehouses that ship the goods to and for large retailers.
Back in 2012, Amazon acquired Kiva Systems – company that develops warehouse management robots – in order to enhance the productivity and efficiency of their business. The $775 million worth acquisition allowed Amazon to save money on all fronts, including workers’ salary, light, and heating expenses, basically, any costs that would be necessary if they had actual workers instead of robots that use Artificial Intelligence to operate. Imagine a system that’s directly connected to an online store, picking up your order the moment you confirm your payment and preparing the merchandise for shipment without the need to wait on anyone’s directions. Apart from productivity and cost-efficiency, the implementation of this system would enhance user experience with any retailer.
More flexible and intuitive search options
Searching for products we are not sure how to find based on name or category is a real nuisance that takes too much of our time. Even more, having to deal with offers that simply don’t raise any interest can aggravate the customers, according to research. The resources show that more than 70 percent of customers react negatively to retailers’ search engines suggesting products that users aren’t interested in.
Recent developments in the industry show that Artificial Intelligence, combined with Natural Language Processing can change the way we search for products, and provide more accurate search results. The main reason why this system would provide more enhanced results is that, unlike keyword-based search protocols, it recognizes typos, product relations, and synonyms.
Furthermore, voice recognition search brings more personalized results along with more practical use of the retail platform. Automated voice recognition systems, powered by natural language processing algorithms, allow customer age, sex, even mood recognition, all of which makes the search for a particular product easier and more accurate.
One of the most obvious advantages of brick and mortar stores is that the customers can talk to a real person and explain their needs knowing that they are fully understood. Chatbots, even though there has been significant progress in their development, still can’t fully satisfy the users’ online interaction requirements. According to experts, chatbots are a far cry from the intelligent interlocutor, guiding the users through a basic linear flow.
World’s most popular retailer, Amazon, has made significant progress in this field as well, ushering a new era in online communication with customers. Alexa, a virtual assistant based on AI that’s incorporated in almost every Amazon product such as Echo, is not only getting smarter by the day, it also learns about the users’ habits, the way they dress, what they eat, and provides pieces of advice based on what it had learned. This way, chatbots could use data such as age, body shape, and similar data to suggest the latest shopping trends that customer would be pleased with.
More reliable marketing and business planning
When a retail owner analyzes customer reviews, the obtained data can show some weak spots or strong points in business, which is good enough as it is. However, with AI there is a chance to scan deeper and get more accurate results which can improve a company’s business potential.
Furthermore, regular demographics can show your target audience age, sex, financial status, and similar data that can make it easier to push your products to the right people. However, AI scans for your customers’ shopping behavior, product preferences, and other pieces of information that regular analytics tools just can’t handle. Rakuten is one of the leading entities in this area, leading the AI-driven marketing and business planning into the future with their technology.
We saw some of the AI trends that are designed to push the sales industry into a new era. Although some people don’t look to kind on machines taking over human labor, one has to take into account that every day there are new human job opportunities rising up. When the lightbulb was invented candle makers were afraid for their future, but cheaper and stronger light allowed night shifts so everyone had new jobs. Progress is not something to be afraid of, it’s an opportunity we need to take.
By Eugene Eaton is a British blogger who sometimes works for a https://www.essaymama.com/. He is into stand-up comedy. His favourite comedians are Louis CK and George Carlin. A good morning laugh is what keeps Eugene upbeat and motivated through the harsh day.