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According to McKinsey, customers are willing to spend more in return for personalized experiences.
to make it meet these high expectations, physical retailers need to better understand their customers.
This is where AI comes in, allowing retailers to harness the full value and provide multiple solutions.
With AI technology in-store, retailers can unlock a world of newcustomer experience, for example, autonomous shopping.
These insights benefit both sides as its crucial for consumers to have a personalized buying experience.
Empowering retailers with AI
The technology that will light the spark for this change is available now.
The servers are connected to high-resolution cameras in-store.
An AI program monitors shoppers as they check out, running on edge servers which work in real-time.
If they dont respond, a shop assistant is notified.
This is made possible byserverswhich can process inputs from 20 cameras at once in real time.
When customers click and buy, AI cameras could ensure they leave with the right goods.
Such systems make it easier to track stock and understand demand.
Harnessing AI and edge computing offers potential far beyond simply dealing with problems such as theft.
All of these can increase purchases and drive revenue.
AI can also be highly powerful in helping retailers ‘join the dots’ and build an omnichannel approach.
These interactions will continue to paint a full customer picture.
The more this data is shared between different parts of the business, the more valuable it becomes.
This is a key differentiator for successful retailers in the lead up to busy periods, such as Christmas.
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