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RESEARCH
ANALYSIS
TRENDS

AI applications trends at the POS

Retail has undoubtedly recognized the great potential AI-based solutions in this area are confirmed to have a
of artificial intelligence (AI), but targeted investments high development potential for the coming years,
are still required to introduce AI-controlled solutions. because much larger and diverse amounts of
This is the result of the study “AI in Store” data, that have so far often been disregarded, can now
by EHI and Microsoft. be used for analyzes. For fashion retailers, for
example, the distribution of goods is often more
Dynamic pricing and predictive analytics are core areas important than the predictive analysis of sales, since
of application for AI but are rated differently by retailers: large parts of the assortment are not reordered. AI-
not every industry has simply the necessary based solutions can also be used in this context. All of
requirements for dynamic pricing; predictive analytics, this will result in substantial investments.
however, will be the most important area for AI
applications in the coming years, according to two There is a very different picture among retailers about
selected results of the survey. Smart applications that dynamic pricing. Some of them are very open to
translate large and diverse amounts of data into real dynamic, AI-controlled pricing, since they see it as
customer insights are particularly in demand. imperative to be able to face the online competition.
However, not all assortments of goods are equally
Retailers see great potential in the AI-controlled suitable for dynamic pricing. For example, digital price
analysis of large amounts of data. All those surveyed labeling, a prerequisite for dynamic pricing, is not used
believe that predictive analytics - the forward-looking in fashion retail and some managers react negatively
analysis of sales and inventory changes and the because they discourage the risk of possibly unsettling
resulting effects on the distribution and placement of or upsetting customers through intraday price
goods - have been comparatively well positioned changes.◊
through investments in recent years.
By MediaBUZZ

February 2020: Automation & AI: accelerator in digital marketing 8