Retail & AI

AI technology is applied in retail environments to handle stock management, design more effective store layouts, and provide personalized shopping recommendations

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Areas

Cashier Free Stores

Amazon AI is one of the examples where they introduced checkout-free stores. The Amazon Go and Just Walk Out shopping technology works when you pull something out from the shelf or put it back when you walk out of the shop with your products, the amazon account will deduct for your purchase within a fraction of seconds.

Price Regulation Strategies

Business leaders can present the best offers and get new customers onboard hence creating a new customer base at the same time. eBay and Kroger already apply Artificial Intelligence for their price optimization and stay flexible with their ability to adjust prices and promotions according to information obtained.

Virtual Trial Rooms

A new trend and a new way of shopping especially at a time of covid which gave this technology a big boost. These virtual trial rooms help customers save time, save money from travel expenses, and from the convenience of your home, the customer finds the perfect outfits with all elements perfectly matched in just minutes.

Product Categorization

AI-based technology combined with other algorithms of machine learning can help the stores regulate and keep a check on product categorization so as to be able to guide the people looking for a specific kind of product head to the right space of the store instead of rummaging through a lot of unwanted products.

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Discussion

This is a fact that no human involvement can be replaced by machines yet this is of gradual attention that machines and Artificial Intelligence have made them effective. Their algorithms have been proven to increase sales and effective involvement of the customers, making them eradicate the tiredness of offline and selective shopping.

This new era of AI-augmented practice has an equal number of skeptics as proponents . The increased utilization of technology has reduced the number of job opportunities, which many doctors in the making and practicing doctors are concerned about. Analytically and logically machines may be able to translate human behavior, but certain human traits such as critical thinking, interpersonal and communication skills, emotional intelligence, and creativity cannot be honed by the machines.