Kiosk Solutions Issue 19 - Page 13

opinion Artificial intelligence is a powerful tool that retailers can employ to ensure in-store visitors are getting the best possible customer experience By Bouncepad – www.bouncepad.com Artificial Intelligence (AI) opens up a world of possibilities for the retail industry, many of which are already offering monetary value to merchants. A study by Capgemini – a CRM company – predicted that AI could save retailers up to $340 billion annually by 2022. It’s a highly efficient and cost- effective way of delivering an optimised experience for customers on a big scale. Personalising customer experience, improving efficiency and accuracy, and raising the bar of customer satisfaction are among the list of benefits. These types of automations are helping retailers keep up in the world of Amazon. Without AI, it’d be close to impossible for these retailers to stay afloat. Allowing for more efficient supply chains and returns, a more responsive customer-service model (chatbots) and accurate inventory; AI is changing retail for the better. Matt Glickman, vice president of customer and product strategy at Snowflake, claims that all retailers are under disruption right now and have to develop a direct relationship with their customers. Speaking to eMarketer Retail, Glickman said. “This disintermediation is critical to get data about your customers. With data, AI can be used to create customised recommendations and products, which is all expected from consumers today.” Walmart has implemented the use of AI to help keep its shelves in-check. Using Bossa Nova robots, they can monitor price tags and missing items to make sure their in-store visitors are getting the best possible customer experience. A working collaboration AI can offer support in the backend, but in terms of customer-facing roles, humans are still preferred. According to eMarketer Retail, 58% of consumers prefer to interact with a person over a robot in a retail environment. This KIOSK solutions 13