Why Retail needs AI
The Retail industry is a very important one, facilitating sales from buyers to customers, buyers to buyers, consumers to buyers, and much more. the focus today is however placed on online retail, as most consumers prefer to buy from the comfort of their homes, rather than go to physical stores. Regardless, both online and offline retail outlets are in need of modern refurbishments or upgrades.
Artificial Intelligence in Retail
Prisma AI has developed multiple solutions for Retail, which can greatly enhance the functioning of retail processes both online and offline. Some of these artificial intelligence solutions are:
- Monitor product movement using object detection algorithms to detect and track products that are being moved, to secure against pilferage
- Analyze body movements using body behavioral analysis engines to report suspicious behavior, or someone trying to steal
- Inventory management using efficient scan of multiple product labels at the same time for faster processing and storage of items
- Sentiment analysis which can help in understanding customer feedback visually
- Crowd analytics to gain metrics of how many people are present in the store at a time
- Optical character recognition which trivializes finding any specific product and also the time it takes to add products to inventory
These are some of the solutions that can help in augmenting the quality of retail, both online and offline, adding convenience and improvements upon existing systems.
Retail with AI in the future
Artificial intelligence and Retail can go hand in hand to enable the retail industry to reach new heights, adding upgrades and quality of life improvements, boosting sales, convenience with inventory management, improved customer service and more. Prisma AI continues to develop solutions for many more sectors, aiming to create greater awareness of the benefits of artificial intelligence applications.