This post is the first of three that explore AI in retail. Here, I’ll cover the primary use cases for AI in customer-facing functions and share some examples of companies that have developed AI applications for retailers.
At Coresight Research, we’ve introduced the CORE framework for retail AI use cases, which refers to communication, optimization of pricing, rationalization of inventory and experiential retail. The framework illustrates how retailers can use AI to better engage customers through communication and experiences, better manage inventory, and price products optimally.
The CORE Framework for AI in Retail Retailers are using AI to communicate with shoppers through personalized online experiences, conversational robots and chatbots, and voice shopping. Its usefulness in terms of personalization is my focus here.
Great e-commerce websites meet customers on customers’ own terms: they show shoppers what they want to see and provide the information they need in order to make decisions and purchases. Mobile devices, with their small screen sizes, make personalization even more critical.
AI can help retailers make the best use of screen real estate on mobile devices, presenting highly relevant content for each consumer. It can generate millions of personalized home pages and email variations and personalize in-app experiences. Read more from forbes.com…
thumbnail courtesy of forbes.com