Retail is constantly in transformation. AI is having a significant impact on the industry. I spend a lot of time monitoring the latest retail AI and technology trends worldwide.

This investment ensures that my clients get the latest news and insights around.

Please note that this is a dynamic page and will be updated continuously, so please feel free to bookmark and pop back.

Here is where I share some of the latest news and insights. Click a section below:

  1. Latest retail AI technology and insights
  2. AI and retail technology news and insights

1) Latest retail AI technology news and insights

Customer-facing AI or not

Interesting blog from Drexel University on how the perception of AI may influence retailers to either be customer-facing or not. The blog highlights the need to focus on risk assessment and answering concerns early. If these are resolved first, then it will give more confidence.
[Keywords – risk, development, retail] – 1/12/2022

M&S acquire AI company Thread

M&S have acquired Thread, an AI company, to further its personalisation prospects. This is a good example where a company sees the timing as very important and decides to buy rather than build. This allows a company to hit the road running rather than develop and grow.
[Keywords – acquisition, personalised, personalisation] – 30/11/2022

Optimistic about automated customer service

Conversational AI has come a long way in a few years. It is often the first point of contact for most enterprises. New research by AWS (Amazon) shows a massive thirst for chatbots and interactive systems.  70% of respondents were keen to integrate these. However, research shows that there needs to be further improvement in text and voice-based systems.
[Keywords – Customer service, Conversational AI, chatbots, Research, AWS] – 14/11/2022

Top 4 strategies for AI-powered profitability

As the economy tightens, it is good to see how you can use AI in retail to reduce costs and increase revenue. AI can help with competitive pricing, demand forecasting, customer support, operations and lots more.
[Keywords – Retail, Strategy] – 14/11/2022

AI helping reduce excessive inventory

Example of using end-to-end AI for reducing product inventory. The key to effective retail is good inventory management. Using AI to develop ideal customer profiles can increase accuracy and reduce costs.
[Keywords – Stock, inventory, AI] – 14/11/2022

The strategic importance of supplier collaboration

Retail success is about managing supplier collaboration. Data-driven decision-making is critical to making decisions quickly. This whitepaper highlights the need for speed with real-time information and collaborative deal planning. It talks about merchandising practices, transformational opportunities and intelligent merchandising.
[Keywords – Supplier, procurement] – 14/11/2022

Implementing AI in Brick-and-Mortar Stores
helps retailers increase their productivity and value-added experience from physical stores. Given the vast trend of increased data volumes, AI can give extra facilities like hyper-personalisation, increased productivity and more. This article explores these areas.
[Keywords – Stores, online, retail] – 14/11/2022

Amazon has record sales over the holiday weekend

Amazon had record-breaking sales over the five-day holiday shopping period. Amazon has yet to give stats, but independent business retailers selling on Amazon surpassed $1 billion. Despite the economic climate, this is good news.
[Keywords – Amazon, black Friday, online retail] – 14/11/2022

 

2) AI and retail technology news and insights

Walmart use AI TrendGetter
Walmart develop AI technology that help customers match products from images. The technology uses Google computer vision technology to decipher from the image and point to a specific product. Any technology that helps speed up search on a particular retail platform is good. Also, consumers will keep referring back to Walmart for every purchasing decision.
[Keywords – Drive-through, retail, technology] – 9/12/2022

Tech and innovation inspire drive-thru’s
US drive-throughs are exploring new tech like AI to increase margins.
[Keywords – Drive-through, retail, technology] – 30/11/2022