Technology

How the retail revolution is being fueled by AI

Published

8 months ago

January 6, 2024

Komal

How the retail revolution is being fueled by AI

Method of buying is about to change thanks to technology that enables cutting-edge shopping experiences like augmented reality displays, real-time price modifications, and personalized in-store advertisements and chatbots. One of the main factors propelling the revolution in the retail sector is the application of artificial intelligence (AI).

According to McKinsey, consumers are prepared to pay more for individualized experiences. Customers are also more responsive to shelf-level advertising when it is done in an educational and engaging way. Physical merchants must gain a deeper understanding of their customers in order to live up to these high expectations. This is where AI enters the picture, enabling shops to fully realize the benefits and offer a variety of options.

Retailers can open up a whole new universe of customer experiences using AI technologies in-store, like autonomous shopping. Retail stores are equipped with the knowledge they need to offer dynamic pricing and in-store promotions by evaluating in-store data. AI also contributes to the resolution of important issues about what consumers are looking at, what they are purchasing, and what they plan to purchase next.

By removing barriers between various channels to adopt an omnichannel strategy, AI also helps retailers better understand their customers. This enables them to implement technologies like conversational AI to enhance both in-store and online experiences.

AI is essential for improving the supply chain behind the scenes as well, from forecasting to routing optimization, and not just on the shop floor. Retailers can increase business efficiency, monitor inventory, and connect stock levels to current buying trends by implementing a “smart warehouse.”

Using AI to empower retailers

Now accessible is the technology that will ignite the spark for this transformation. It is already present in retail store cameras, and when combined with edge computing and AI capabilities, it helps move data storage closer to the source to facilitate faster processing and faster outcomes. With strong edge AI servers installed in their stores, retailers are already at the forefront of this technology and are paving the way for the self-checkout of the future. The high-definition cameras within the store are linked to the servers. Using real-time edge servers, an AI application keeps an eye on customers while they check out.

The system responds instantly when the edge servers detect an issue, which might be anything from non-scans to “product switching,” when customers swap stickers to scan pricey items as cheaper ones. Customers receive a real-time “nudge” in the form of a five-second video that plays on the point-of-sale terminal if they cause an error. When they don’t answer, a store assistant gets the word.

Servers that can handle 20 cameras’ worth of input at once in real time make this possible. In addition to monitoring inventory, the cameras assist shops in combating theft. The technology has enormous potential for use in both the front and back ends of retail enterprises. Retailers may soon be able to verify that deliveries match exactly what was bought by connecting edge AI to in-store cameras. AI cameras might guarantee that clients “click and buy” the correct items when they leave the store. Such technologies facilitate inventory management and demand analysis.

Using edge computing and AI has promise that goes well beyond addressing issues like theft. It has the capacity to provide customer insights that have the potential to completely change the industry, giving retailers the know-how they need to better layout their stores and arrange their inventory to boost sales.

Productivity driven by data

Almost every store already has cameras installed, but they are rarely used for anything other than using the footage as proof in the event of an incident. This film can be quickly converted into real business value with the help of an edge system and artificial intelligence. The system may provide the data needed for insightful analytics on consumer behavior just by plugging a video feed into an edge server GPU. This enables shops to offer dynamic pricing, real-time promotions, and fast targeted advertising. These can all boost sales and generate income.

AI has the potential to be a very effective tool for retailers looking to “join the dots” and develop an omnichannel strategy. This is achieved by fusing retail and e-commerce data, which contributes to the creation of a “Customer 360” perspective that allows for better experiences. AI chatbots will play a bigger role in customer support both in-store and online, assisting in the dismantling of barriers between brick-and-mortar and online retail. These exchanges will keep painting a complete image of the customer.

Business executives can increase productivity and improve staff schedules by analyzing employee behavior. Cameras can also help safeguard personnel from danger and guarantee that businesses aren’t packed. In this case, edge computing and AI operate in concert to give retailers a means of quickly and efficiently processing this data at the time of engagement.

Examining the supply chain

Applications for this potent blend of edge computing and AI extend far beyond the shop floor. Retailers can purchase products, replenish shelves, and arrange logistics more successfully by using analytics from warehouses and stock rooms.

This data increases in value the more it is shared throughout various company divisions. Real-time stock levels can provide valuable insights into purchase patterns when combined with shop floor data. This can lead to a more streamlined and efficient corporate operation. Retailers, for example, might utilize data to determine the typical number of consumers that visit the store at various periods of the year and stock their floors to meet this demand. For merchants who are successful in the run-up to peak seasons like Christmas, this is a critical differentiation.

Artificial intelligence (AI) has applications in warehousing and supply chain that range from inventory and warehouse management to routing and cold chain optimization. AI analytics can guarantee that goods arrive more quickly and freshly, provide company executives the capacity to foresee issues, and cut down on waste.

The revolution in retail AI

Who has benefited from real-time data and analytics will determine who wins and loses in the retail industry. Innovative companies will be able to use edge technology and AI to harness data and provide the desired personalized experiences. In addition to enhancing daily operations and productivity, data may be used to uncover insights that open up completely new sources of income.

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Technology

Apple’s iPhone 16 Launch: A Crucial Test for Consumer AI

Published

3 days ago

September 5, 2024

Archana Suryawanshi

Apple is set to unveil its highly anticipated iPhone 16 lineup on Monday, Sept. 9, during its annual event at its Cupertino headquarters. The keynote, led by CEO Tim Cook, is expected to introduce not only the new iPhones but also the 10th anniversary Apple Watch and updated AirPods.

While the hardware lineup is impressive, Wall Street’s focus is elsewhere—on Apple’s generative AI platform, Apple Intelligence. This AI initiative, designed for iPhones, iPads, and Macs, represents Apple’s major push into the consumer AI space. Initially, investors were concerned about the company’s delay in launching AI compared to Microsoft and Google. However, after the platform was revealed at Apple’s WWDC conference in June, the company’s stock surged by 15%, outperforming tech giants like Microsoft, Amazon, and Google.

Apple Intelligence is now positioned as a key feature of the new iPhones, particularly those from the iPhone 15 Pro and newer models. Analysts believe this exclusivity will drive iPhone sales, with Morgan Stanley’s Erik Woodring predicting AI as a major factor in boosting the iPhone replacement cycle.

However, Apple Intelligence might be more than just a sales driver—it could shape consumer perceptions of generative AI itself.

Apple’s AI Ambitions

Apple’s upcoming event makes it clear that AI is front and center. From the tagline “It’s Glowtime” to the colorful logo reminiscent of Siri’s new look, the company is signaling a major AI focus.

The AI features Apple is integrating into its ecosystem are extensive. Users can expect tools that summarize text conversations, prioritize emails, enhance Siri’s capabilities, and offer access to OpenAI’s ChatGPT. Additional features like AI-powered proofreading and email optimization will also be part of the package, along with new apps developed to leverage AI through Apple’s hardware.

Wedbush analyst Dan Ives forecasts that Apple’s AI integration could bring in an extra $10 billion in annual services revenue, potentially boosting the company’s market cap to $4 trillion.

Though competitors like Samsung and Google have also introduced AI in their devices, Apple’s approach seems more compelling. Its June event showcased how seamlessly AI integrates into its ecosystem, making the technology feel more personal and essential compared to the offerings from Samsung’s Galaxy AI and Google’s Gemini platform.

The AI Risk

However, Apple faces challenges in ensuring Apple Intelligence’s success. The AI needs to avoid errors like those seen in Google’s AI tools, which have been criticized for providing bizarre recommendations. More importantly, Apple must prove that its AI is something consumers will genuinely want to use, rather than just a rushed feature aimed at appeasing investors.

As Apple ventures deeper into AI, its success or failure could shape the future of generative AI for everyday consumers.

Technology

Vantage Empowers Young Indian Investors with Game-Changing Copy Trading Feature

Published

3 weeks ago

August 16, 2024

Johnny Depp

Every novice trader wants to know which app to use to earn money through copy trading, and here is a top recommendation: Vantage Trading App is the best choice.

Which App Should Novice Traders Use To Copy Trade Earn Money: Top Recommendation

Are you a novice trader? Then, you may be wondering about which app you should use to copy trade and earn money without any prior knowledge of copy trading. The Vantage Markets app makes copy trading with little capital convenient for many people, especially new traders.

Why Choose Vantage For Copy Trading

The Vantage app for copy trading makes a valuable solution for beginners to learn the trade from experts and mimic their potential returns. The simple user interface and manageable copy trading solution, Vantage Trading app, offers 69,000+ signal providers and 1000+ products to trade on their copy trading platform. There are many more reasons why novice traders should count on this global award-winning trading broker.

Accessibility

Beginner traders can access copy trading with convenience through the Vantage Trading app. The educational resources and user-friendly interface provided by this beginner-friendly trading platform allows novice traders to begin trading from as low as USD50. Novice traders can follow the trail of experienced traders on the Vantage Markets platform to grow money with money. Vantage Markets provides millions of global users with access to 1000+ CFDs. Vantage Markets is also the leading CFD provider in the industry with more than 14 years of experience.

Upskills Trading Knowledge Of Novices

Novice traders can follow in the footsteps of experienced traders on the Vantage Trading platform to begin their journey to successful trading. Beginner traders can follow the strategies to success of expert traders on Vantage and widen their knowledge of the market conditions through copy trading further.

Time-Saving Solution

Want a time-saving solution to trade and earn money? Copy trading platforms like Vantage copy trading app can allow novice traders to benefit from the knowledge and experience of experienced traders. Beginners will not have to spend time researching and analyzing thousands of CFDs separately. They can copy the moves of 100+ expert traders from around the world and make big money with signal providers. Novices can also enjoy gold trading under this roof.

Summary

To summarize, the Vantage Trading app is a must-have tool for all beginner traders. This all in one trading app makes a convenient option to copy trade earn money seamlessly and efficiently. Novice traders can take their copy trading game to the next level with the accessible and time-saving solution Vantage Markets. Novice traders can download Vantage Markets trading app to start their trading journey by upskilling their trading knowledge here.

FAQs

Is copy trading profitable?

Yes, copy trading is profitable. You can identify a successful trader out of the 1000+ traders on Vantage trading app and mimic their deals to copy trade and earn profits.

Is copy trading safe?

Yes, copy trading is safe. But, losses are replicated in same way as the profits because a copy trader cannot control the trades of the trader that you are following.

How can I start copy trading?

You can commence copy trading by downloading and registering on the Vantage Trading app

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Technology

Samsung Extends Circle to Search to Galaxy Tab S9 FE Series and Galaxy A Series

Published

3 weeks ago

August 15, 2024

Archana Suryawanshi

Today, Samsung Electronics announced that Circle to Search with Google is now available for a few Galaxy A series devices,1 expanding the reach of mobile AI to even more Galaxy ecosystem devices. This improvement highlights Samsung and Google’s ongoing commitment to provide as many customers as possible access to the greatest mobile technologies. The cutting-edge search experience will also be available on the Galaxy Tab S9 FE and Tab S9 FE+, where big screens and the Galaxy S Pen provide a new level of discovery, in addition to the Galaxy A series devices that have been chosen for Circle to Search.

Since its launch on the Galaxy S24 series, Circle to Search has rapidly gained popularity among users, providing a breakthrough discovery experience that surpasses conventional search techniques. Circle to Search has consistently improved its usefulness and intuitiveness as it has spread to new Galaxy smartphones, such as the most recent Galaxy Z Flip6 and Z Fold6. These improvements include the addition of full-page translation, homework assistance, and QR and barcode scanning capabilities.

TM Roh, President and Head of Mobile eXperience Business at Samsung Electronics, stated, “These updates unlock new possibilities for the Galaxy A series and Galaxy Tab S9 FE series and reinforce our commitment to providing cutting-edge technology for more Galaxy users.” “We are dedicated to bringing best-in-class AI technology to a broader audience, empowering users with the option to work more efficiently, create more freely and enjoy richer, more personalized interactions with their devices.”

With Circle to Search, you can now search anything with a single gesture without opening other apps. Users can choose the text, image, or video they wish to search for by simply circling, highlighting, or tapping anywhere on the screen while Circle to Search is enabled.2. This feature, which was developed in close cooperation with Google, reflects the company’s long-standing dedication to transparency and teamwork. Circle to Search takes search to new heights of convenience and fun with AI-powered results that provide rich information and context.