Artificial Intelligence (AI) and machine learning (ML) are often used interchangeably, however, they are different. The simplest explanation is that AI research how to use computers to complete the work that usually done by human in computer science field. ML, a subfield of AI, devoted to creating applications that can improve performance to gain more data.
In order to offer personalized products, services and contents, bands and retailers need to know the information of their clients, such as what, when and how they are shopping, which suggestions they like, what kind of promotions they are interested and so on. RFID technology also can collect data to analyze, but every product in the store needs to be attached to RFID tag, AI can simplify this process. AI can use big data from websites and social media to respond in record time.
AI can support several strategies of bands and retailers. Human beings can’t be replaced by AI, human give it power. It uses data to optimize pricing strategies; improve supply chain efficiency; personalize online engagement and offer better client experience online and in-store through client support.
AI meets the demands of clients by predicting the trend based on from purchase behaviours to correct products to create values. Today, companies change the website access via products that client purchased, wish lists and preferences. Providing suggestions based on personal client knowledge – all thanks to the development of AI. According to a report that published by PointSource research firm, when AI is deployed effectively, 34 per cent clients are willing to spend more money online. This is a large enough statistic to drive electronic retailers.