Artificial intelligence is a buzzword

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Artificial intelligence is a buzzword

25/11/2019
Artificial intelligence (AI) is a buzzword that’s booming within retail industry. There are plenty of example for smart application that use AI powered engines to help companies to take better decision. Although it is an ‘artificial way to generate what can be accalaimed as a “useful suggestion” we’re still in the stage where the ‘intelligence’ could be a missing point. Concerning Luxury and Fashion industry, one of the main challenges with the technology is having enough relevant data to be utilised or ‘fed into’ an AI system, in order to let the algorythms grow and become more ‘intelligent’ within the passage of time.

Radio Frequency Identification (RFID) providing huge amounts of accurate item-level data for merchandise, is the key point of entry to leverage the opportunity offered by AI.

Temera is working from years on a powerful combination of the two technologies, in order to serve the iper competitive market of Fashion Luxury Retail.

Two are the main output that could be expected: anomaly detection and predictive modeling.

On one hand the analytic module T!Insight, an integrated part of Stylewhere Solution, offers what is called Decision Support System. AI capabilities in this module leverages the use of ARIMA algorythms in order to re-analyze continuously time series data and alert the user about anomaly within business processes considering specific KPI.

On the other hand specific application of AI predictive modeling can help companies to reach several goals:
  • AI-driven, automated planograms for optimised product availability in store
  • Demand prediction and stock optimisation across store networks
  • RFID stock-takes and AI pick-lists combined to make replenishment faster and more accurate than ever
  • Machine learning smart fitting rooms bringing accurate KPI