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             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
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