Recommended
More Related Content
Similar to Martin Banda
Similar to Martin Banda (20)
More from itnewsafrica
More from itnewsafrica (20)
Recently uploaded
Martin Banda
- 1. ARTIFICIAL INTELLIGENCE IN RETAIL Martin Banda Senior Solution Architect - AWS
- 2. BIG DATA STRATEGY & ACTIONABLE INSIGHTS
- 3. “ ” RETAIL WILL LEAD IN GLOBAL SPENDING ON AI SYSTEMS IN 2021, WITH $5.9 BILLION INVESTED IN AUTOMATED CUSTOMER SERVICE AGENTS, SHOPPING ADVISERS, AND PRODUCT RECOMMENDATION PLATFORMS. SPD Group - 2021
- 4. “ ” AUTOMATED CUSTOMER SERVICE WILL BE THE RECIPIENT OF THE BIGGEST AMOUNT OF INVESTMENTS IN 2021 AT $4.5 BILLION. SALES PROCESS RECOMMENDATION AND AUTOMATION WILL SEE $2.7 BILLION IN INVESTMENTS. SPD Group - 2021
- 5. PERSONALIZED SHOPPING EXPERIENCES Virtual Fitting Rooms with AR/VR Omnichannel experience efficiency Upselling complementary items Personal Assistants with chatbots and robots Instore item search and locating
- 7. CONSUMER BEHAVIOUR ANALYSIS Understanding movements in store Product bundling and promotions Product placement in shelves Feedback analysis
- 8. AI-LED PREDICTIONS Demand Forecasting and Merchandising Route optimizations for deliveries Seasonal inventory stocking up based on demand patterns Automated inventory management
- 9. THANK YOU Martin Banda Senior Solution Architect - AWS
Editor's Notes
- GDP growth : New Megatrends in Africa Reveals GDP Growth of 4.5 trillion by 2025 BCG: Digital Consumers, Emerging Markets, and the $4 Trillion Future CSIS: Beyond 2025: The Future of the African Growth and Opportunity Act https://www.csis.org/analysis/beyond-2025-future-african-growth-and-opportunity-act
- AR that help digital customers in the retail industry are the “try before you buy” applications North Face Helps Customers Find The Perfect Coat – IBM Watson technology Macy’s On Call app is tailored with answers for each individual store. Customers open the app when they’re in the store and can chat with an AI bot to get directions to a specific item or check if something is in stock AI shopping assistants are online tools designed to help consumers ynd products they are shopping for. These virtual shopping assistants provide answers to consumers’ questions and help them in navigating through the online retail store.
- Retail is one of the biggest markets for AI. Currently, many forms of AI are used such as chat bots, price adjustment and predictions, visual search, virtual fitting rooms and supply chain management and logistics ● Where do guests go when they enter the store? ● Do they tend to prefer one location in the store over another? ● Are there any locations in the store that guests tend to avoid?
- - One of the top Artificial Intelligence vendors claims that the implementation of AI in inventory management resulted in a 32% cost reduction across all operations. - 49% of respondents expect that Artificial Intelligence will cut costs in the supply chain. - 44% expect that AI will boost productivity. - 43% are sure that AI will be a major factor in boosting revenue. - 40% recognize the use of AI in retail decision-making as the main benefit of the technology