AI in Retail is no Longer the Future, It is the Present

AI in Retail is no Longer the Future, It is the Present

By: Retail CIO Outlook | Friday, August 30, 2019

Charging up with machine learning and humans, everything comes in handy with a human touch, making it easier for retailers to enhance CRM in the retail industry.

FREMONT, CA: Technology has found its place in society because of its advancement in different business platforms. When managers and retailers think about artificial intelligence (AI), what they probably think is helpful in-store robots that answer customer questions or the bots that will help in suggesting the products for the customers. AI in retail will reduce the physical automation and help in direct replacement of human workers.

Machine learning is emerging as one of the most important concepts the retailers look forward to improving their e-commerce sites, engage customers, and secure sales. As this technology increases day-by-day among retailers and brands, machine learning will thereby increase customer experience.

When machines and humans work together, retailers can ensure human touch. Machines help in creating a richer customer experience and deliver more customized results. It offers a faster search and harmony between the online platform, artificial intelligence, and humans. Three ways humans and machine learning can enhance the growth of the retail industry:

1. Search accuracy

Searching for products is a pain point for shoppers. Usually, customers take assistance from sales executives to look for the product they have in mind. Despite the advanced technology in hand, we usually find sales executives assisting customers in finding the right product. Online shoppers have the option of a search box, where they are left with a product image that is either slow or shows irrelevant results.  

Utilizing machine learning on the e-commerce platform will help enhance the accuracy of search, making it a conversational platform, and helps in speeding up the process of purchasing. Using rules and algorithms by machine learning will remove the challenges raised by incomplete or incorrect product data. This can help consumers select the right product within no time.

2. CRM hiked

Customer relation management is another platform, where an increase in activity could be noticed. Frequently asked questions from purchasing to payment to product information needs to be answered to keep up with the customer's interest. Chatbots with machine learning gives the customers fast responses by pushing the customers closer to the conversation. Along with this, the advent of voice search will also help enhance customer relationship management. The bots are designed in a way to know the tone and help find out the natural nuances in human language, making it easy to handle for the customers. 

3.Customizing shopping

Along with faster search assistant and increased customer management, managers and retailers can study the customers' interest. And help to customize the page following the likes and search interest of customers. Retailers, by providing more results from the time of potential customer click on the home page until the end of the journey of product hunting, help customers get exactly what they were looking for.

Apart from the advanced technology, the human touch in the retail sector will not be omitted. Instead, it will transform the retail sector.

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