Five ways AI can improve the retail sector

The retail sector is moving towards the digital age as a means of necessity. Due to traditional retailers facing threats from bigger companies like Amazon, ensuring that they stay on top of the game is crucial.

AI is becoming one of the most popular investments in every business sector. And while it is already being used in certain parts of the retail sector, what else can we do to ensure that AI doesn't just improve the retail sector, but revolutionises it? 

Digital assistance

While there is assistance in various factors such as robots improving in-store customer service, digital assistance in terms of AI means that we've got to ensure that the in-store workers are ready to cope with the workload associated with AI too.

Robots work to improve processes in this respect but you've also got to remember that if you are looking to improve productivity that you need the foundation associated with the sheer workload of AI. This is where GPU optimised servers can help as they are specifically designed for AI workloads. From the perspective of a customer, they can use digital assistance to find an item they are looking for.

Implementing webshops

This helps companies to market items based on consumers’ previous purchases as well as their own habits. While there are many automation processes that are already helping with this, from a business perspective such as CRM (Customer Retail Management) systems, webshops can improve customer services through AI functions.

Webshops can help the customer by using robots because customers may feel more at ease talking to a robot and can ask as many questions as possible. This makes the experience interactive but also helps to improve productivity.

Improved accumulation of data

AI can help to create a personalised shopping experience for any user. When you have specific data you know their habits, but AI can help to assist retailers to predict consumer habits, but also help to see how our products can perform in the future based on its past sales. AI can help to accumulate data but also improve on making more strategic decisions.

Minimum Advertised Price (MAP) monitoring

Every retail business needs to retain its competitiveness in the modern-day, especially when up against the mammoth firms like Walmart and its subsidiaries. Using AI to monitor the lowest price that a retailer can physically advertise the product without losing money helps to keep businesses competitive, but also ensure that MAP is not violated. 

Virtual trial rooms

For those operating a clothing outlet, implementing virtual trial rooms to help a customer try on different clothes and the various options using digital mirrors can help a customer to try everything out without physically wearing them. This allows shoppers to experiment using a touch-based interface and the applications can also extend to other uses, like the cosmetics industry. 

AI is helping the retail sector in so many different ways. If you are looking to compete with the bigger companies it's important that you retain some sense of adaptativeness. AI isn't widespread just yet but if you are looking to keep your head above the parapet, try a few of these options.