3 Main things you need to know to stay ahead of the curve
There are many potential use-cases for AI in the commerce sector, both in physical brick-and-mortar stores and e-commerce shop fronts.
With each customer and product launch, we’re building smarter AI systems that are fine-tuned to understand shopping-related images and text with state-of-the-art accuracy. All of these advancements are collectively pushing us toward smarter product understanding systems that connect consumers with exactly what they want as soon as it catches their eye.
Personalized shopping is particularly difficult since everyone’s preferences are unique and constantly evolving. We keep building on our fundamental AI advancements for even deeper AI understanding of not just products and style, but also ever-changing context and relationship between items.
AI powered shopping is poised to become the future of commerce five years from now, here are 3 main things you need to know to stay ahead of the curve:
Explore all available AI tools to figure out what can help your business grow in the long term
Behavioral AI, chatbots, inventory management – what are your main needs?
For example, Product recognition is among the most important ways to make it easier for people to shop online today. If AI can predict and understand exactly what’s in any given virtual frame, then people could choose to make any image or video shoppable. People would more easily find exactly what they’re looking for, and sellers could make their products more discoverable.
Win over the hearts of your younger customer base
More than half of consumers between the ages of 16 and 44 report using AI when online shopping. Today, most online consumers are millennials and Gen Z, and these generations demand a personalized and streamlined shopping process and will no longer accept a messy and tiring purchase journey.
Incorporate Offline Applications
A great way to draw consumers to brick-and-mortar shops and create unified omnichannel experiences. Personalize the in-store experience by offering digital promotions based on consumers’ previous buying habits, store location and item selection in real time.
Let’s face it – retailers using artificial intelligence have a competitive advantage. A few big brands have already started leveraging AI in their business operations to improve efficiency and offer an enhanced shopping experience to users.
The advantages of utilizing artificial intelligence in the retail market are endless. From offering clear insights into new trends to improving customer experiences, the implementation of AI can enhance your business’s proficiency. At renovai, our highly-experienced team of professionals will help you implement intelligent AI-driven solutions for your retail business while taking care of all your challenges.