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How Deep Learning is Transforming the Retail Sector

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“2018 will mark the beginning of AI democratization. Advances in virtual assistants and deep learning will foster adoption of artificial intelligence.” Gartner made this announcement in their most recent tech trend predictions, along with the main news for the coming months. They believe that this is the year in which we will break down the barriers, decrease systems complexity and improve our knowledge of artificial intelligence.

The world of retail is moving to understand customer needs, lifestyles and personal preferences, to predict behavior and provide ultra-personalized recommendations using artificial intelligence and deep learning. Deep learning in the retail sector will also improve the logistics chain, optimize processes and increase profitability in the sales area.

Customize messages in real time

According to the McKinsey & Company study Artificial Intelligence: The Next Digital Frontier? personalization through artificial intelligence will increase sales by between 1-5%. They also assert that “e-commerce companies are leading the way, using AI to predict trends, optimize stocks and logistics, set prices, and personalize promotions.”

The latest data and analytics solutions can quantify in-store customer behavior as precisely as they can online using tools like Flow Analytics, Traffic Analytics and Audience Analytics which measure the time a customer spends in a certain area or the efficiency of a space.

By analyzing transactions and observing buying patterns, retailers can anticipate seasonal sales volumes and reduce overstocking, to maximize profit margins.

Predict performance and optimize stores

Beabloo has just launched Beabloo AI Research to deepen our knowledge of artificial intelligence and deep learning. This will allow us to design disruptive solutions and take retail businesses to the next level. Our new digital intelligence platform, Minerva, combines big data, computer vision, machine learning and deep learning, to learn from audiences, plan campaigns and optimize performance.  Halo helps customers find products through natural conversation.

The latest artificial intelligence solutions and deep learning allow customers to make faster, more intelligent decisions, while retailers improve their planning and define the impact of their promotions on the rapidly changing retail sector.

Deep learning brings us one step closer to the future and connects us more intensely with the immediate future.

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