“How Artificial Intelligence meets your shopping preferences – It knows what you are buying - and what you want to buy”

When you do shopping online or visit a retail store, your retail experience is the latest battlefield for the artificialintelligence (AI).

All about grinding the data!

To understand the opportunities and threats for all major retailers, it is very important for these retailers to understand why has become an emerging trend nowadays. Two important aspects are: Data and Computing Power. Computing power is something which you can experience in your hand 24*7 i.e. your Smartphone because these phones have far better computational power in comparison to desktops/laptops. Organizations can easily access and utilize the unlimited computing power to train their Artificial Intelligence algorithms. AI systems learning tools like machine learning flourish on huge data sets. When these systems are fed accurately with the help of this huge data then they discover such trends and correlations that no human psychoanalyst could ascertain. These machine learning tools help in automating the data which helps the users to make a model that can then make constructive predictions about the same data.

Why retail is suitable for AI?

The promptness of AI deployment is different in retail sector and mainly stands on some critical factors: The primary factor is the ability to test and quantify the customer responses securely. Along with this they can also measure the effect on their bottom line very easily. The second is small consequences of a fault. An AI agent landing a passenger aircraft cannot manage to make a mistake because the life is on stake of the people travelling. An AI agent doing job in the retail sector makes millions of decisions every day can afford to make some mistakes, as long as the overall effect is positive.

Your shopping habits

AI can detect underlying patterns in your shopping behavior from the products you buy and the way in which you buy them. This could be your regular buying habits of purchasing sugar/bread/milk etc. from the nearby supermarket/from some specific applications online. For example these days there is a trend of dual household income which says that both the spouses are working so there are time constraints which forces them to take the help of these online applications to cater their daily household needs at their doorsteps which is also called as “Home Delivery” of products/services at your convenience. So the AI identifies your day-to-day needs and preferences from your usage of these apps for giving order and gives you notifications on your mobile phone which serve as reminders of your requirements which you might forget someday due to your busy schedule. In other word we can say AI analyses the buying behavior of millions of consumers which also helps the supermarkets to predict what families want daily/weekly. This automatically informs the inventory management systems, to maintain optimum level of stocks of those specific products scanned by AI.https://www.linkedin.com/in/jims-greater-noida/