Ronald van Loon

AI’s Impact on Retail: Examples of Walmart and Amazon

AI’s Impact on Retail

Artificial Intelligence or AI is expected to be in major demand by retail consumers due to its ability to make interactions in retail as flawless and seamless as possible. Many of us do realize the potential of AI and all that it is capable of, along with the support of Machine Learning or ML, but don’t realize that the implementation of AI in certain segments has already begun.

AI in Retail

The future for AI and the complicated computer processes involved behind it is really bright in the field of retail. AI currently has numerous data sets working along with computer visualization methods to ensure that the users get the most seamless experience when it comes to AI in the workplace. There are some interesting facts that pertain to the use of AI in retail. Here we have some of them to build the insight into what you can expect during the feature;

It is expected that customers will manage 85% of their relationship with the enterprise without interacting with a human.

According to a report by Business Insider it is said that customers who interact in online opinions and reviews with retailers are 97 percent more likely to convert along with the retailer during this phase of change.

With such promising figures on the card, one cannot help but notice the wave of change that has already started in the field of retail. With work already in progress, major retailers such as Amazon and Walmart have made advances that are expected to dictate this transition to AI in retail. We will be looking at these advancements, and will see how they can work out in the future.

Walmart’s Shelf Scanning Robots

You might have heard of shelf-scanning robots being tested by retailers, but we’re just about to witness one of the most interesting advances in the deployment of these robots. Walmart, which is one of the biggest physical retail chains across the world, is planning to extend the tests for its shelf-scanning robots across 50 additional stores, including some from its native land of Arkansas.

The machines, which have been deemed to be the future of shelf scanning, will roam around the aisles to check all factors including pricing, misplaced items, and stock levels, to assess the level of stocks within the store. This would not only save human staff all the hassle of checking these trivial details by themselves, but would also mean that they can focus on other more important details. The machines will require technicians to be present on site to handle the situation in case of a technological impairment, but the robots are currently fully autonomous to handle their tasks themselves. These robots will be using the concepts of 3D imaging to roam around aisles, dodge obstacles, and to make notes about the blockages in their pathway.

Amazon Go

Amazon Go is the latest wave of technology in retail that is expected to lead the way to the future of AI in retail. The basic concept behind Amazon Go is that it is a new kind of store that flourishes on the concept of no checkout requirements. Consumers who walk into a store can take whatever they want without having to go through the hassle of lines and waiting for checkout.

The checkout free shopping experience in Amazon Go is only made possible through the use of the same technology that is currently in place behind computer vision, sensor fusion, and self-driving cars. The technology automatically detects all that is being taken and keeps track of them in a virtual cart. Shortly after the consumer leaves, they will be sent a receipt and charged through their Amazon account.

Ronald Van Loon

Ronald van Loon

Ronald has been recognized as one of the top 10 Global Big Data, IoT, Data Science, Predictive Analytics, Business Intelligence Influencer by Onalytica, Data Science Central, Klout, Dataconomy, is author for leading Big Data sites like The Economist, Datafloq and Data Science Central.

Ronald has recently joined the CloudTweaks syndication influencer program. You will now be able to read many of Ronald's syndicated articles here.

IBM Puts Data To Work for AI and in the Cloud

IBM Puts Data To Work for AI and in the Cloud

Artificial Intelligence, deep learning and cognitive solutions are a big part of the future of IBM, as clients accelerate their digital transformations fueled by data. The company’s new multicloud data platform, IBM Cloud Private (ICP) ...
Maduro Attempted Assassination by Drones - A Nasty Part of the Future Has Arrived

Maduro Attempted Assassination by Drones – A Nasty Part of the Future Has Arrived

January: I wrote of Slaughterbots – the potential of small ariel drones that could kill. March: I talked about how Sci-Fi was becoming reality with the intro of Skydio a drone that could track you ...
Analytics – A journey to AI

Analytics – A journey to AI

Artificial intelligence (AI) has been around in concept since the 1950s when Arthur L. Samuel, created a learning algorithm that allowed a machine to beat the local state checkers champion.  Yet, it took the largest supercomputer ...
Part 2 - Identity Assurance by Our Own Volition and Memory

Part 2 – Identity Assurance by Our Own Volition and Memory

Identity Assurance by Our Own Volition and Memory We believe that the reliable identity assurance (See part 1) must be built on three prerequisite principles as follows. Volition of the User – with Self-Determination, Identity ...
Four interesting Amazon patents in 2018 that use machine learning, AR, and robotics

Four interesting Amazon patents in 2018 that use machine learning, AR, and robotics

“There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second.”— Jeff Bezos, CEO Amazon When Jeff Bezos launched Amazon.com ...
SAP S/4HANA Cloud Adds Exciting New Capabilities to Manufacturing and Professional Services Industries

SAP S/4HANA Cloud Adds Exciting New Capabilities to Manufacturing and Professional Services Industries

Earlier this year, customers were provided with the deepest, broadest AI-powered functionality in the ERP market with the 1805 release of SAP S/4HANA Cloud, SAP’s flagship intelligent ERP solution. This unlocked 12 new AI-powered scenarios, which significantly ...
Top 5 Deep Learning Architectures

Top 5 Deep Learning Architectures

If you are a deep learning practitioner or someone who wants to get into the world of deep learning, you might be well acquainted with neural networks already. Neural networks, inspired by biological neural networks, are pretty useful ...
DIY AI! Build your own AI with kits from Google

DIY AI! Build your own AI with kits from Google

Worried about the rise of the machines? Like doing things yourself? Now you can address both. Build your own AI with kits from Google. You can tell when something’s time has come. Hobbyists and tinkerers ...
AI Meets Industrial IOT: Power Your Data-Driven Enterprise

AI Meets Industrial IOT: Power Your Data-Driven Enterprise

The rapidly progressing Artificial Intelligence (AI) technology offers a lot of new opportunities to businesses in the industrial sector. Smart machines that are capable of performing repetitive tasks with accuracy and self-correcting errors would be ...
Strategies for Monetizing Data: 2018 and Beyond

Strategies for Monetizing Data: 2018 and Beyond

Strategies for Monetizing Data The data revolution is here, and it creates an investment priority for enterprises to stay competitive and drive new opportunities. One of the brightest areas is data monetization, which describes how ...
Driving AI Revolution with Pre-built Analytic Modules

Driving AI Revolution with Pre-built Analytic Modules

What is the Intelligence Revolution equivalent to the 1/4” bolt?   I asked this question in the blog “How History Can Prepare Us for Upcoming AI Revolution?” when trying to understand what history can teach us ...
Artificial Intelligence And The Future of Accounting

Artificial Intelligence And The Future of Accounting

The Future of AI Accounting Artificial intelligence has become an extremely hot topic over the last couple years. While many people welcome the thought of self-driving cars and chatbot customer service agents, others are rife ...
The Future of AI is Here

The Future of AI is Here

For the last five years, we’ve been discussing the future of AI with many organizations, including Intel, at the forefront of that conversation. However, while ensuring the world gets to experience new heights and unparalleled ...
That’s It? After All the Hype and Fear About A.I.? Turns Out They Can’t Do the Hard Stuff

That’s It? After All the Hype and Fear About A.I.? Turns Out They Can’t Do the Hard Stuff

Well, guess we should have known better. A.I. can play Jeopardy, Chess and Go but it seems their capabilities have topped out. Let’s talk about a new A.I. “winter”. A.I. was going to take your ...
The Cloud Reveals a Future of Work That May Be Scary to Some

The Cloud Reveals a Future of Work That May Be Scary to Some

The Future of Work May Be Scary to Some Anyone paying attention to the world of work over the past 10 years or so has noticed the profound changes. Whether client-facing or internal, the cloud ...