Forbes: The Impact Of 3,000 Amazon ‘Go’ Stores Will Be Massive

“Several days ago, Bloomberg reported that Amazon is considering opening up 3,000 Amazon Go convenience stores by 2021. If you’re not familiar with Amazon Go, here’s how it works: you download an app to your smartphone, hold the app over a scanner when you enter the Amazon Go store and that’s it — anything you buy will be charged to your account, you never go to a register to check out. If you pick something up and put it back you’re not charged. I have been to the store and it works well. Amazon Go is to convenience stores what Uber is to taxis, you leave without having to take any time to pay.”

India $64B Opportunity in 2021

“Indian consumers have started embracing e-commerce with great zeal. According to Forrester, India is the fastest-growing online retail market in the world that will reach $64 billion by 2021, growing at a CAGR of 31.2%. The global payments leader, Worldpay, estimates that India will outshine the US to become the second largest e-commerce market globally by 2034.

The growth potential of this sector is causing Indian e-commerce players to bolster their technological investments with Artificial Intelligence (AI) and Machine Learning (ML) being the pivotal area. Experts estimate that Amazon India, Flipkart and Paytm Mall will spend nearly $2.5 billion on AI and ML in 2018.”

Nosto 22% YOY increase in GMV

The company’s innovative retail personalization solutions have fueled a three-year growth rate of 260 percent in North America driven by deep relationships with 2,500 of the world’s fastest growing brands. Nosto has also driven a gross merchandise volume (GMV) of more than $10 billion through its customer stores, and is averaging a 22 percent increase year over year GMV for retail customers, significantly higher than the average of 14 percent for ecommerce retailers.

Will AI Be The Future Of Retail? – Veronika Sonsev

“Friend envisions a bigger opportunity for AI in retail as an enhancement to customer service associates in-store. “Imagine you’re walking into a Home Depot,” Friend says, “what if you could simply use your voice to ask the Home Depot app where the product you want is located and have it show you exactly where it is on a store map? You could avoid sales associates altogether.” Despite AI’s clear limitations today, as the technology improves and its applications feel progressively more human, its role in retail will only become more robust.”

Here’s What’s Next for Retail – Ray Blanco

  • Last week the retail conference Shoptalk, a veritable “who’s who” list of retail execs and industry experts, was held in Copenhagen, Sweden. The hands-down dominating consensus coming out of the conference was that artificial intelligence will play an integral role in traditional retail’s future success. “The clear takeaway is adapt or die….”, remarked one Shoptalk attendee.
  • EBay’s chief product officer put it like this…“It’s bigger than the web and the mobile revolution combined. By 2020 if we’re not engaged with this technology and making it a meaningful part of our businesses – we are braindead.”

AI Vendor Research: Likelihood

Vendor: Likelihood
Headquarters: San Francisco
Key Product: Intelligent Creative
“Step 1) Design Creative – Our web-based designer lets you add graphic elements from scratch, lay them out on a custom canvas, and then style them by hand or with help from our artificial intelligence tools.”
“Step 2) Make it Dynamic – Likelihood’s AI-powered platform lets you connect elements of your creative to any data source — like a product catalog or digital asset management system — to make each creative impression relevant to the shopper viewing it.”
“Step 3) Publish Creative – Wherever you publish a static image today, you can easily publish an intelligent creative there tomorrow.”
Articles about Likelihood:
Clients: The site doesn’t explicitly say that these companies are clients, but their content is on display on their “Gallery” page. It’s either a very impressive customer list or a little misleading.
Companies include: Ann Taylor, Crate & Barrel, Staples, Home Depot, Sunglass Hut, Macys, Saks Fifth Avenue
I’ll give Garrett and Rob points for humility. On the company site their pictures are on the third row with titles simply listed as “Technology” and “Business.” It took a little work digging on LinkedIn to determine the c-suite.
Garrett Wu, CTO & Founder, LinkedInProfile
Rob Seaman, CEO, LinkedInProfile

Leveraging AI to streamline, simplify and automate the development of creative.

45 Artifical Intelligence Startups Targeting Retail In One Infographic (CB Insights)

I discovered this infographic and wanted to share. It was published by CB Insights. Here’s a snippet…you can read the full article 45 Artifical Intelligence Startups Targeting Retail

While there are numerous other AI startups focused broadly on personalized marketing and ad targeting, we limited this market map to startups whose core focus is retail and e-commerce. The startups in this graphic have raised roughly $650M in total disclosed equity financing. Scroll down to view the graphic, category explanations, and a full company list with select investors.”