Is Artificial Intelligence (AI) the most feared technology?

When it comes to retail, AI is showing signs of bringing positive disruption to the retail sector by improving the efficiency to analyze shopper demographic data, order delivery times and customer service. It is predicted that by 2020 and beyond, 85% of customer interactions in some form will be managed by AI applications like natural language processing (NLP) or by combining several different AI applications together. The term “artificial intelligence” is applied when a machine mimics “cognitive” functions that humans associate with other human minds, such as “learning” and “problem solving.” While traditional data mining extracts data for humans to analyze, AI draws conclusions on its own. Yet, despite the fact retail executives have revealed that AI has helped drive on average 3%-5% customer satisfaction improvements that in turn has driven sales, it is giving some retail executives goosebumps. The reason is the implicit fear associated with machines and algorithms. There are some who believe that AI-driven automation will take over core retail functions and some or many associates or employees who work very hard every day will lose their jobs at the headquarters, and especially in the stores, distribution centers and call centers. While it is natural such doubts creep in from time to time, such notions are removed from ground realities. Mckinsey did some really insightful research in 2017 to understand automation potential and wages for US jobs. Retailing is another sector with a high technical potential for automation and this applies to several innovative technologies such as AI and its machine learning, robotics and NLP applications. It is estimated that 53 percent of its activities are...

Changing the In-Store Experience Forever

Strategic Product Marketing Executive of Infovista Network Performance Solutions, Ricardo Belmar, discusses digital transformation in retail and how it is changing the in-store customer experience highlighted with some industry examples. Download Full...

Omni-channel Maturity and Opportunity Cost Assessment

This tool helps retailers understand the maturity of their Omni-channel operations, capabilities and assess what the lack of an integrated approach costs on an annualized basis. After taking the survey, the respondent will receive a customized assessment that will highlight: The opportunity cost of not having Omni-channel execution capabilities Maturity of their Omni-channel strategy when compared with the industry Age of their Omni-channel technology stack compared with the industry Demo...

Strategies for agile, profitable and secure omnichannel execution

The surge in omnichannel commerce has redefined the way retailers interact with customers. In the pursuit to remain competitive and increase the customer base, retailers have mostly focused on front-end strategies to grab customer attention.However, of late, they have also realized the importance of an integrated order fulfillment and secure back-end process for seamless omnichannel execution.This report entails the various strategies that aid them to do so. Download Full...

Trends in e-commerce & digital fraud: Mitigating the risks

E-commerce, online, web-connected device (i.e. Internet of Things) related fraud is witnessing an upward trend, with merchants experiencing revenue loss as a result of fraudulent transactions. This ebook entails how fraud affects e-commerce business and the various methods and trends in this scenario. It also discusses how retailers are tackling online or e-commerce fraud issues along with providing recommendations for them to prevent fraud. Download Full...