To deepen and reflect
Retail more HumanAIzide!
Retail more HumanAIzide!
One of the most relevant segments of the economy, retail , has undergone continuous changes in the way of meeting the needs of the new consumer.
For decades, the retail sector has dedicated its “eye to eye” relationship with its customers, knowing each one in a particular way in terms of needs and preferences. In this new digital age, the retailers have transformed its operations to one the most delivering value that meets their most informed consumers, demanding and digital materially .
From large to small retailers , everyone strives to be the choice of their shoppers and consumers on a recurring basis . In this context, the use of intelligence data tor in it a valuable strategy n the opportunities for exploration as personalized offers, transparency of inventories of stores, convenience services and tracking of applications and ease of service while shopping journeys. All of this, supported by the Data Protection Law, will certainly take this relationship to another level of trust when we hand over our data to companies .
The use of data in retail businesses, for decades, was explored with a traditional analysis for course corrections and it worked perfectly well until the arrival of the smartphone , which became the “weapon” of greater information power in the hands of consumers. And then have a the strategy predictive guided by data, has to become more and more necessary day.
In this scenario , added to the pandemic moment we are experiencing , the need to incorporate new technologies and innovations in business has become even more urgent and immediate. With a growth of 400% per month in the number of stores that opened e- commerce (on average) in 2020, it reinforces the need to build value with the immensity of data that transits through these channels, platforms and social networks.
The Artificial Intelligence (AI) and machine learning (ML) provides a high level of data processing that leads to deeper business insight.
According to recent studies, the Artificial Intelligence in the market v airing was valued at US $ 1.80 billion in 2020 and should reach US $ 10.90 billion in 2026 a growth annual 35% over the forecast period 2021- 2026. This information raises the rule references about how to drive business decisions faster marketing, e-commerce, product management and other areas of business decreasing the gap between insights and s Deeds s guided s data .
And starting from the reference that we are in 2021 , we can imagine the speed of growth of Artificial Intelligence solutions , a lot will still appear in the coming months and years about their intelligent applications. It can best be glimpsed this speed , when we observe the growth d the Chinese and American marketplaces, countries that have policies of stimulus and follow accelerates n d the transformations type is in all sectors. An example of this, is the Tik Tok, which has behind the favorite application of the new generation, a gigantic conglomerate of AI technology . Chinese companies and startups have accelerated AI projects because they are stimulated by the Chinese government, which has a clear and ambitious mission on artificial intelligence : To be the most relevant country in this technology in the world by 2030 .
Aware that the IA is revolutionizing nearly every aspect of consumers ' lives , it stands out the companies that come out ahead, and transform its strategic focus to adhere to innovation with technology s AI .
AI and machine learning (ML) are on track to generate between $ 1.4 trillion and $ 2.6 trillion in value, solving marketing and sales problems over the next three years, according to studies by the McKinsey Global Institute . If we compare the 2018-2020 period, the use of AI by marketers has skyrocketed, jumping from 29% in 2018 to 84% in 2020, according to the most recent study of Salesforce Research's marketing status .
And how has AI revolutionized this refined knowledge of the new consumer?
D e according to a study with the marketing leadership of global companies in 2020 : AI, ML ( machine learning ) , voice / chat / digital assistants and mobile technology and applications are the four technologies that will have the greatest impact on future of marketing .
Customer service , the s chatbots with IA can provide an even higher level of customer service, enhances ing research and suggested ing similar products. They are able to reduce the flow of quick service that other relationship channels cannot synchronize information with at such speeds and solve the problem just as quickly .
As purchasing assistants, the use of computer vision in line with Machine Learning has greatly helped customers in their purchasing process . They are able to make similar and related products, making decisions easier and generating value for consumers during their shopping journeys.
When we talk about the custom fertas in digital , the revolution that AI can bring the strategy m air keting made it possible to create personalized experiences, suggest and recommend products that fit exclusively to the needs of each shopper and consumer. About this experience , what comes to our mind is the success that this Tools and nta generated in the results of companies like Amazon and Netflix. They were the first to adopt this type of technology in their marketing lessons. We can estimate significant increases in solid results across the company, including increased sales revenue, N PS (net promoter score) and customer retention rates. When scale customization is done right, companies get a 5.63% net increase in sales revenue, a 10.26% increase in order frequency, increases in average order value and an impressive improvement in 13.25% in cross / incremental sales opportunities , according to global data obtained from a Forrester survey in 2020.
And not only in marketing directly to this technology po to be explored on company business:
By using the use of AI applications to p price revisions , assist in more precise definition enhances prices ing the price target for products crossing with the estratégi to by several likely simulations , assuming least deviations n the elasticity of the offers prices and greater agility in the operationalization of this on a daily basis .
In the supply and logistics chain , which is one of the biggest bottlenecks today in the shopping experience journey, it is another area that explores a lot of AI intelligence models , whether inside the physical store or in online shopping, we need the experience even better. , which in recent times, the “ last mile ” has been the definition of consumer purchase. It is estimated that it can achieve losses of around US $ 1.1 trillion each year due to inefficiency in the distribution chain . Topic very high and with great potential for the use of AI.
The last mile delivery solutions in local communities also grew in 2020. The package collection stations located in neighborhoods and camp us college, called Cainiao Post, account for 10% of all packages delivered in the retail markets of Alibaba in China . In March 2020, the total number of package collections grew by three digits year on year, due to the growing demand for contactless delivery during and after Covid-19. Here in Brazil, the demand, expectation and relevance we have invested for such a level of service follows at a great pace as well. With players such as FREE MARKET, IFOOD, RAPPI, JAMIES and many others that arrive every day in the market.
In c ategorização the s product s , the m odels learning ( deep learning ) has numerous outstanding contributions to business, come to classify more than a million of various items players, especially in the marketplaces this tool becomes essential to meet its players at the speed that new products are daily incorporated into the sales platforms.
And so, we can continue here listing so many other important points in the business to more assertively reach its customers and consumers.
Speaking of Brazilian companies that follow the fast pace within their business ecosystems , we have several cases to enumerate. They have been building disruptive movements in the retail sector with the incorporation of technologies and the use of AI . For example , we have the CARREFOUR , one of the companies that presented their case in I2AI Retail Artificial Intelligence Summit (Check out the video) . According to the IT director, @ Lindolfo Reinert , the alignment started “TOP DOWN” and this has made a big difference in this journey. All are aligned on the same purpose and with the correct direction for the initiatives and solutions that revolve around the SUPER APP, launched in November 2020, and which will be the theme of his lecture at the event . According to him, multidisciplinary teams follow the path of cadence and not speed, meaning an increasingly efficient and effective execution in each new project. According to the company's annual report, the growth of digital channels in the last year was 142% in food sales through the online channel . Its loyalty program increase almost 90% in 4o quarter of 2020, compared to the same period in the previous year.
We are increasingly switching between humans and machines in the relationship with consumers during the days of experiences with the brands, but what continues to exist in this process of change is the creativity and humanization of this process continuously.
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IV Congress of Data Science and Artificial Intelligence
Inspiring speakers, controversial debates and transformative ideas! Along 2 days, with 3 tracks per day, with many speakers who will share their knowledge on: Data Science, Machine Learning and predictive