4 June 2016

Intelligent Agent for Retail

Retail stores can utilize intelligent agents to solve dynamics of shelving, customer service, and pricing. Tiny drones could be deployed around the retail supermarkets during inventories and during random peak hours to manage stock levels and monitor for pricing. This will also replace the option of having to require shelf pickers or even dual purpose cashiers for smaller stores. Going further, intelligent agents could be used for more mobile and flexible cashiers. In process, the whole pricing and supply chain management can be automated even going as far as to implement more intelligent ways to mine for personalized offers. Retail stores need to manage prices, customer behavior, and optimization of sales. In process, there are quite a few variables at play: price drifting, not all customers are the same, not all items in a category are the same (basket of goods), price execution, and having the right sales strategy at the right time. It is inevitable that retail stores will look towards more insightful and intelligent price optimization strategies to meet supply and demand while attaining maximization in sales revenue from satisfied customers. Sentiment analysis will also come to play a significant factor towards connecting with the customer's intentions and conversion. Eventually, a self-driving option through use of effective artificial intelligence such as with deep learning may spearhead for more cognitively and semantically aware retail stores.