Everyone is buzzing about AI these days, as well as they should. Machines that “think” for us already are transforming how we work, play — and shop. McKinsey tells us that some 29 million U.S. homes used some form of smart technology last year, and that number is growing by over 30 percent a year.
While there are lots of techniques that fall under the definition of AI, the buzz lately has been overwhelmingly driven by advances in machine learning algorithms. So, when people are talking about AI transforming retail, what they usually are referring to are advances in machine learning unlocking huge value.
Consumers worldwide continue to adopt and use technology in their shopping experience. Faced with rising customer expectations and increasing competitive pressures, retailers now are prioritizing in-store innovation. Many retailers have adopted multichannel implementations, in which mobile, web, and in-store shopping are enabled but not delivered consistently to the customer.
Guest Column |
Yan Krupnik,Retalon Predictive Analytics
Understanding customer demand and creating a consistent customer experience begins with a unified and powerful predictive analytics approach. The sooner retailers will adopt this technology, the sooner they will begin to see improvements in their bottom and top lines.
Guest Column |
By Justin Patton, Auburn University RFID Lab
Whether you’re investing in experiential store concepts or extending e-commerce capabilities, one thing is for sure—the retail industry is undergoing a serious evolution, driven by the unique demands of today’s consumer. It’s never been more important to have whatever the consumer wants on the shelf (digital or physical) at the exact time that he or she needs it.
With so many online programs that offer cash back, it can be hard to tell which ones give online shoppers the most bang for their buck — and their time.
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