AI-based consumer model has become an integral part of the business strategy. Artificial Intelligence is triggering many speculations for years. Some of the common titles of AI include “biggest existential threats”, “dangerous than nuke” and “a fundamental risk to the existence of human civilization.”
“We are headed towards a situation where AI is vastly smarter than humans. I think that time frame is less than five years from now,” Elon Musk (The founder of Tesla & SpaceX)
However, one can’t overlook its contribution to bringing transformation in almost every industry it be healthcare or retail. AI has triggered a wave of modernization and advancements. Taking over every industry and field it is improving functionality, accelerating productivity and creating a progressive wave.
AI-Based Consumer Model Contribution in Different Industries
In the healthcare department, AI and machine learning have improved life expectancy rate, introducing cures to deadly diseases and injuries, assisting surgeons to carry out operations and surgeries along with being a helping hand in many healthcare departments. Recently, with the outbreak of COVID-19, the installation of many AI bots in the hospitals in playing a role in saving many doctors from getting exposed to the virus. In such a way, AI has been a great help during the pandemic. AI bots also helps in disinfecting the environment and to carry out many human-interacting tasks in the hospitals.
In the IT sector, it has brought a massive transformation. Moreover, integrated with AI appeared in many smartphones and responsive platforms. It speeds up the functionality giving a highly engaging user experience to the audience. User-centric platforms are being developed to provide personalized and customized experiences. Moreover, features like facial recognition, voice recognition and seamless functionality are being added in smart devices. Thus, highlighting the need to adopt AI-based consumer model.
AI in Retail 2020
Ecommerce retail industry has been the one where the integration of Artificial Intelligence proved meaningful and practical. AI can automate every aspect in the retail industry to boost scaling, accuracy and efficiency of the business.
You can automate inventory management, custom data collection, and now even customer care. However, when we talk about AI and its contribution to the customer care department, there are further speculations made from many tech savvies.
Furthermore, with the use of algorithms, AI can collect customer data even from an unstructured format. It can scoop into the market and gather relevant details to understand the behavioral patterns of the customers and retailers. Furthermore, AI helps in decision making. It assists retailers in forecasting the market trends and in keeping customers entertained in real-time.
Data Creation And Labelling
The retail indsutry is facing many challenges, among them the most stressful is inaccurate and inconsistent product tagging. You can efficiently use AI-powered bots to resolve things that digitalize the process of organizing data in proper sequence in no time. Moreover, the SEO tags and description are helping arrange the products making it easier for the Google bots to track and rank the listings.
AI-Based Consumer Model Drives Better Decisions
AI with its deep learning technology makes it easier to structure data. It assists in categories of products into different sections based on their appearance and specifications. With respect to the neckline, cuts., colors, fabric, and styling the product is categorized. Before, the use of AI it was nearly impossible and extremely stressful for humans.
Apart from this, it helps retailers to create data models that derive insights helping them to make predictive decision makings. They forecast the sales and can make lead generating data decisions.
AI has made product discovery for both the retailer and the consumer easier. The integrated bots are not only assisting retailers in discovering products from the massive inventories but are helping consumers as well. Chatbots surfaced with the advancements of AI in retail. With that the written customer support improvised massively. The bots read customer behavior and suggest them with appropriate retail suggestions.
AI and Audio Branding
The superhuman intelligence of Artificial Intelligence has been full of wonders for the retail industry. It can be used to set the ambience of brick and mortar stores. By allowing AI to set the overhead music in your stores you can keep your visitors enthralled and amused; making them stay in the store for longer. Platforms like Ambii can be a great solution as it introduces AI in music to power struck your branding for better outcomes.
How Does Ambii Help The Retails Industry?
Audio branding is a major technique to ensure better prosperity of a brick and mortar store; however, companies has to go through copyright issues. That’s where Ambii comes to help by providing licensed music to the stores. It’s a platform that connects AI and retail to breed greater prosperity for a business. With the use of AI, it reads customer behavior and suggest playlist that can set the mood to encourage buyers and visitors to stay.
“AI Can’t Replace Human Touch”- The Speculation That Is Making Headlines
What’s your opinion over it- can AI replace the human touch? The major aspects supporting this speculation throws light on the preferences of humans over technology. People might rely on bots taking patients record but when it comes to operating surgeries a patient would rely on a human doctor. Similarly, when it comes to scrolling an e-store a Chatbot might give you the suggestions you want, but you would crave to interact with a human salesperson for placing a bigger order.
Robots replaced many employees in a restaurant in San Fransisco. There were bots taking orders, greetings visitors, and even mopping floors. Using technology they monitored and operated everything. Only a few people liked it and a major group of his audience disapprove this practice.
Hence, as per the many speculations AI cannot replace the human touch which could not be right. As nobody likes to accept the change. People have bene relying on human for ages and opting for technology is surely a greater revolution which will take time to adjust in the society. After all, one cannot overlook the capabilities of AI as stated by Alan Turing– the father of Artificial Intelligence:
“This is only foretaste of what is to come, and only the shadow of what is to be…it may take years before we settle down to the new possibilities, but I do not see why it should not enter any one of the fields normally covered by human intellect, and eventually compete on equal terms.” -The Times quoting Alan Turing