“Zhou Bowen, head of AI at JD.com, said the company’s AI-powered SnapShop, which allows users to take a photo of a product and provide identical and similar product recommendations, is helping it grow business in smaller cities and among young female consumers of fashion and beauty products, all of which are growth markets for JD.com.”
“Innovative retailers have used in-store heatmapping, CCTV, floor sensors and more in order to determine shopper patterns, inform resource planning and ultimately improve the store experience:
Tencent YouTu Lab x Intel
YouBox is an intelligent analytics framework that retailers can apply to legacy cameras. DeepGaze provides retailers with information about how shoppers move around the store and hotspots they visit.
Chinese ecommerce company JD opened a cashierless store in Jakarta, Indonesia, that uses sophisticated technology to study shopper movements.
The Drug Store
Iris Nova, the parent company of direct-to-consumer beverage brand Dirty Lemon, has opened two cashier-less stores in New York City, which use heat map trackers to monitor shopper foot traffic as well as RFID-enabled refrigerators that track inventory sold and QR codes that prompt shoppers to pay via text message.”
“According to Martechtoday, Ocado reportedly planned to spend £175 million ($232 million) for its robotics and automation system this year, Amazon committed $5 billion in its tech investments in India alone, and Alibaba is looking into pouring $15 billion into research and development spending over the next three years. Forrester Research (PDF) predicts that AI-related investments will grow by about 300 percent in 2017, with businesses becoming more competitive by 2020 and gaining $1.2 trillion per year.”
“According to Techemergence, after implementing this new initiative, a number of online orders reached 1.26 billion in 2015 (double the amount of orders in 2014) and approximately 85 percent of those orders were delivered within two days.”
“It’s customer service chatbot processeses 95 percent of customer inquiries, both written and spoken ones, and it is very powerful now.”
“Right now, with their Rakuten Institute of Technology, they are able to analyze their 200 million products to forecast sales with a high degree of accuracy.”