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Artificial Intelligence in the retail segment
The use of AI by a traditionally offline industry is the key to digital transformation in retail
Artificial Intelligence is the technology that has been a protagonist in the digital transformation of this era, revolutionizing several sectors of the economy.
In Retail, a sector where increasing revenue and reducing expenses is a constant challenge, they already have differentiation between those who have applied I.A. in your business strategy and who hasn't yet. Especially in view of the current economic scenario, the contribution of these applications in different areas of the business is significant. I highlight some:
- the speed in data processing and the application of machine learning contributes to decision making with agility and assertiveness even under market risk and uncertainties.
- Through algorithms, it is possible to understand the popularity of products, the pattern of sale, the preferences of consumers by store and which competitors are most visited. Ensures that the sales forecast is more and more assertive and the most appropriate stock level.
- In a highly competitive market, those who observe and know consumer behavior are differentiated. Through Artificial Intelligence, it is possible to guarantee an increasingly personalized service, intelligent and at the right time. It is possible, for example, to make an analysis of the customer's emotions and even to foresee their needs, making this relationship increasingly assertive in the recommendations of cross selling and up selling.
- Detailed analysis of unstructured data will help you find patterns in your business, generating new insights, identifying market trends and supporting decision making.
At the III Artificial Intelligence Symposium, an event held by I2AI in partnership with USP, which will take place on June 17 and 18, some cases of A.I. in Retail they will be presented and we will be able to know in more detail the disruptive strategy of AMARO, the fashion retailer that innovated in its business model mixing e-commerce with guide shops that function as billboards of the brand. It was also the first Brazilian fashion brand to test Instagram Shopping and recently announced another insight: it decided to open its e-commerce to other brands, the goal is to help smaller companies sell online during the crisis caused by the new coronavirus.
Likewise, the use of Chatbots by Leroy Merlin, developed to optimize and speed up the service to internal and external customers of this large retailer, such as PROA Tecnologia Criativa that will be present at the event.
Or, learn about Startup solutions that are delivering differentiation tools for retailers, such as SmartHint and others.
The current moment has forced us to innovate and stand out in the midst of a completely digital universe. What is the digital behavior of consumers now? They have also changed in this pandemic period. Many have come to know new ways to buy, new products have appeared before their eyes and other needs are part of the day to day now.
We then have every reason to know Artificial Intelligence, as it is already active in our daily lives and needs to be applied to your business.
Here we present just a few contributions because you will know these and other successful cases at the III Artificial Intelligence Symposium. Our goal is to encourage you, transform your mindset and help you apply technology in your business.
About the author
Especialista em Informação, Conteúdo e Gestão do Conhecimento para Negócios e Tecnologia.
I2AI makes up the Advisory Board of the largest Artificial Intelligence Innovation Network in the country
Twelve business institutions come together to define the strategy and guidelines for the performance of the innovation ecosystem. There is R $ 70 million available for the business sector to innovate with disruptive technologies
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