Artificial Intelligence has become one of the most appeared technologies as it has found its’ way into almost every IT solution in the marketplace. Although, yet it isn’t clear whether it will be actually required or not.
National Retail Federation (NRF) organised Retail’s Big Show, in which this year’s Artificial Intelligence seems unavoidable. Many presentations and vendor booths showcased the presence of Artificial Intelligence.
Cognitive offering lead at IBM states that they have had many successes with Artificial Intelligence but teams need to talk about it realistically. Some companies are over promising and almost everyone seems to say they are using Artificial Intelligence even though it’s not real. IBM is turning a corner where they know where it works and it does not.
The next wave of growth for Artificial Intelligence would be seen in supply chains, buying and merchandising. This would involve bringing in Artificial Intelligence to assist fashion designers as they will be able to identify trends with visual recognition.
Many retailers like Macy’s, Tommy Hilfiger and Home Depot have evidently proven that Artificial Intelligence can be used for Visual recognition as it provides them with visual product searches. It has been recorded that, by clicking a product picture and then searching it, provides a 60% higher conversion rate, as Artificial Intelligence is a fundamental element that showcases a solution’s ability to recognise products and provide increasingly accurate results over time.
It has been made clear that Artificial Intelligence has been linked to a number of solutions. This may also include certain irrelevant solutions. However there is a slight doubt that these solutions might play an important role in enabling retailers to provide their customers with an enhanced experience.