Changing customer behaviour, omnicommerce and thinning margins are redefining the retail industry, resulting in retailers needing to make millions of decisions every day to remain competitive, such as providing the right product availability and pricing.
Innovative retailers are embracing AI and Machine Learning to make these decisions at scale and at speed. AI solutions learn from customer data, predicting buying patterns by analysing hundreds of variables, such as past sales data, weather and promotions.
Artificial Intelligence allows retailers to optimise and automate decisions for better supply chain and merchandising processes, better customer experience and better profits.
Required audience experience: Listeners should be familiar with terms and basics of AI and machine learning.
Objective of the talk: Provide principles, real-world examples and educate the audience about machine learning and AI applications, using the retail sector as the focus. Decision makers and AI experts can learn from customer cases in the retail industry on how to use AI and machine learning effectively at scale.
Keywords: Machine Learning, Retail, Retail Technology, Blue Yonder, NeuroBayes, Causality, Pricing, Automation, Replenishment, Business, Artificial Intelligence, Data, Analytics, Predictive Analytics, Data Science, Reinforcement Learning
You can view Michael’s slides below: