Artificial Intelligence Applications in Retail YourTime Study Course

AI in Retail YourTime Study Course

 

Artificial intelligence (AI) has the potential to revolutionize the retail industry, offering retailers new ways to enhance customer experiences, improve operational efficiency, and gain insights into consumer behavior.

By leveraging AI technologies, retailers can gain a competitive edge and provide customers with more personalized, efficient, and convenient shopping experiences.

 

Course Contents

What is AI?

  • Parsing through the mountains of data created by humans, AI systems perform intelligent searches, interpreting both text and images to discover patterns in complex data, and then act on those learnings.

Sub Technologies – Brief Descriptions

  • Machine Learning: Machine learning, or ML, is an application of AI that provides computer systems with the ability to automatically learn and improve from experience without being explicitly programmed. 
  • Deep Learning: Deep learning is a subset of machine learning that employs artificial neural networks that learn by processing data. 
  • Neural Networks: Neural networks learn by processing training examples. 
  • Cognitive Computing: Cognitive computing seeks to recreate the human thought process in a computer model, in this case, by understanding human language and the meaning of images.
  • Natural Language Processing: Natural Language Processing or NLP, allows computers to interpret, recognize, and produce human language and speech.
  • Computer Vision: Computer vision is a technique that implements deep learning and pattern identification to interpret the content of an image; including the graphs, tables, and pictures within PDF documents, as well as other text and video.

AI Applications in Retail

Customer Personalization

  • Personalized Recommendations
  • Dynamic Pricing
  • Image Recognition
  • Customer Segmentation

Inventory Management

  • Predictive Inventory Management
  • Real Time Inventory Tracking
  • Automated Ordering
  • Inventory Optimization
  • Supply Chain Management

Chatbots

  • Customer Service
  • Personalized Recommendations
  • Lead Generation
  • Order Processing
  • Customer Feedback

Fraud Detection: AI-powered systems can analyze large amounts of data to identify patterns, trends, and anomalies that may indicate fraudulent behavior. AI can be programmed to ask specific questions or request specific information from customers to verify their identity and prevent fraud.

Predictive Analytics: AI can help retailers make informed decisions about future business strategies, such as predicting sales trends, customer behavior, and product demand, by analyzing large amounts of data from various sources.

Visual Search: AI-powered visual search technologies can help customers find what they’re looking for more easily by allowing them to search for products using images instead of keywords.

Voice Assistants

  • Customer Service
  • Inventory Management
  • Personalized Recommendations
  • Hands-Free Shopping
  • In-Store Navigation

Download Package Contains

Video Course ( 1hr.13min.) + PowerPoint Presentation

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AI in Retail YourTime Study Course

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