AI in Retail: See How Otto Embraced Innovation

IN Artificial Intelligence — 03 January, 2018

The Otto Group, the world’s second largest multi-channel retailer, has been on a game-changing AI journey since 2006. AI in retail, however, is not exclusively for global businesses with high budgets and vast investment resources, like Otto. It can revolutionize the performance of small, medium and niche retailers.

Artificial Intelligence in Retail: Does it Solve the Complexity?

IN Artificial Intelligence — 11 December, 2017

Once upon a time, retailing was relatively simple. Merchants selected an appropriate product range, bought them at the lowest possible price and at the right quantities, and sold them for a profit. Today, thanks to its global nature and disruptions to the market, retail is one of the most complex industries to trade in.

Making an impact in 20-AI-teen

Disruptive technology is the name of the game in the fourth industrial revolution, and Artificial Intelligence (AI) continues to be at the forefront of advances across many industries. For example, healthcare has benefitted from new cancer detection methods by analyzing high resolution images; scientists have also been working on the AI inside…

Artificial Intelligence in Retail — Solving UK’s Brexit Stock Problem

IN Artificial Intelligence — 22 November, 2017

Data has never been a more valuable commodity and artificial intelligence in retail could finally help businesses cash in their checks.

Tesco’s Green Satsumas Show the a-peel of Reducing Food Waste

The recent news that Tesco is to sell green satsumas, after hotter than average temperatures in Spain prevented the fruit from turning its usual orange colour, reflects growing consumer acceptance of grocery products that do not necessarily conform to conventional standards, as well as recognition by the retail industry that they must do more to…

Enabling Smarter Decisions in Retail with Artificial Intelligence

IN Artificial Intelligence — 04 October, 2017

A previous blog post has explored the importance of high-quality data and how to build an AI strategy. But is all this necessary? Why should companies invest in becoming a digital enterprise if they're already successful?

While businesses may have thrived in the past without digitalization, it is also true that businesses have always strived for…

7 Ways Retailers Benefit From AI

IN Artificial Intelligence — 05 September, 2017

Artificial intelligence (AI) and machine learning are becoming ubiquitous in our daily lives. Modern AI systems are less like David in Spielberg’s film “A.I. Artificial Intelligence” or the HAL computer in Kubrik’s “2001 – A Space Odyssey” but help us to steer through our daily life more efficiently.  From self-driving cars to scheduling…

The Promise of Artificial Intelligence & the Reality of Super-Human Performance

Watson, Einstein, Leonardo. These names were chosen as product names for Artificial Intelligence (AI)-based technology. These names are not random choices – they are names associated with brilliant and creative minds, reflecting the aspirations these products have. These exceptional figures are extremely individual and have had such a profound…

The New Retail Balance Sheet: Why Data is an Asset – and How to Value It

The call to utilize big data is more than five years old now, and retailers are well aware of the huge commercial value in acting on insight. However, the narrative surrounding how to act on this insight hasn’t evolved in that time – and it needs to.

Building Robust AI Systems – Part I

“What's the first thought that comes to mind when you think of Artificial Intelligence (AI)? Perhaps it’s a scene from a science fiction movie? Or – more realistically – AlphaGo, developed by the Google owned company DeepMind that learned to beat the best players at the complex game of Go? Perhaps you wonder about job security? MIT Technology Review