Petaflops for Retail Insights
AI Technology is in use by major retail chains to rapidly process sales information received from stores to quickly respond to changes in demand in stores. This has reduced out-of-stock positions in stores and reduced overall inventory holdings. The improvement in demand forecasting accuracy has meant improved sales and provided a competitive advantage.
Walmart has adopted GPU-accelerated compute technology in the USA
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Shoplifting / Inventory Loss
Retailers are now using AI at the edge (store location) to monitor security cameras in the stores and identify shoplifting with similar accuracy to dedicated security staff. The systems analyse video feeds in real time to detect shoplifting and then refer the incident for intervention by security staff.
Removing the Checkouts
There are some retail stores operating without attended checkouts and relying on advanced AI systems.
Amazon is a good example where cameras monitor purchases via GPU-accelerated AI in the store.
Monitoring the Shelves and store
Walmart has implemented AI in a store in the USA as their Intelligent Retail Lab.
Thousands of cameras are a key feature of the lab. Walmart is using cameras and sensors on shelves to track when shelves need to be restocked or if shopping carts are running low. It can spot spills on the floor and even detect when cash registers need to be opened up before long lines start forming.
Wayfaring and Merchandising
Employee Safety and Monitoring
There are further implications for online stores.
Many organisations have implemented recommendation systems to personalise the customer experience. These systems leverage pictures on social networking sites, buyer history and emerging fashion trends to recommend combinations of clothes specific to each customer.
Organisations like Paypal have implemented AI-assisted fraud detection.