Retail
AI in Retail
Over the last few years, artificial intelligence technology has made some interesting advancements across multiple industries. While it may not be so obvious to the end consumers, artificial intelligence has been applied in the retail sector as well. Even though not every retailer has been using it due to high costs, inaccessibility, and proprietary systems, the largest players in the retailing have been pretty active about it. It's no wonder given the benefits AI can bring to the actual businesses.
So how exactly can AITECHNOHUB AI solutions help retail store owners? First off, let's say a few words about how AI and machine learning work. Namely, artificial intelligence technology takes a big data set about something, runs it through AI algorithms such as neural networks and then produces a model which can provide answers like a real human. The answers that are given are based on whatever AI was able to learn about the matter from the dataset.
As it's probably obvious at this point, the dataset that AI learns from in the retail industry example is the actual sales data linked to the customer data. When this information is run through the machine learning algorithms, an AI model is produced which discovers actionable information about a business, customers, and inventory which are not normally obvious or known to the business owner. With this in hands, a retailer can do a variety of things to benefit his own business.