“With shoplifting costing the retail industry in the region of $34 billion a year in lost sales, retailers will be very keen to adopt new technology that prevents it happening. As Bloomberg reports, Vaak’s software works by tapping into the live security camera feeds a retail store has installed. It then monitors customers looking specifically…
Tag: retail
AI sets a new battlefield for e-commerce players
“But AI is changing all of this, and adding tools which make the arsenal owned by e-commerce companies look archaic. Many malls in India and abroad are already adopting AI services which allow them to learn who the customer actually is. The cameras installed in the malls are performing face recognition, and matching it back…
8 cool technologies that are revolutionizing retail
Juniper Research predicts retailers will spend $7.3 billion on AI by 2022, compared with the approximately $2 billion spent in 2018. Caper Introduces Smart Shopping Cart Brooklyn, New York-based retail technology vendor Caper has developed a smart, self-checkout shopping cart that uses computer vision, sensor fusion, and three cameras to automatically ring up items placed…
Protecting Retail Profits With Artificial Intelligence
“Retailers can use AI to reduce losses resulting from error, faulty processes and intentional fraud. According to the 2018 National Retail Security Survey from the National Retail Federation, more than 50% of retail shrink (the difference between actual on-hand inventory and the inventory level recorded in the computer system) was due to employee theft or…
6 ways AI will revolutionize retail
IBM identified the following six ways the retail industry plans on utilizing AI, based on respondents’ feedback: 1 Supply chain planning (85%) 2 Demand forecasting (85%) 3 Customer intelligence (79%) 4 Marketing, advertising, and campaign management (75%) 5 Store operations (73%) 6 Pricing and promotion (73%) https://www.google.com/amp/s/www.techrepublic.com/google-amp/article/6-ways-ai-will-revolutionize-retail/