Artificial Intelligence (AI) is a reality in online shopping. Who hasn’t seen a “relevant” ad on social media right after doing a web search on a certain product?
At retail stores, however, AI had only reached post-sales activities, with – for instance – POS, credit card, and reward systems supplying the data necessary to automatically generate offers and emails catered to customers.
Now retail image recognition is bringing artificial intelligence to store shelves as systems for retail execution start incorporating this technology.
Systems for retail execution had already brought a multitude of information to retail channel planning and distribution by simplifying how store audits are done and delivering instant access to data captured by field reps for managers and other office-based professionals. Compared to the previous process of filling in paper forms and then transcribing data, this was revolutionary.
In systems for retail execution, AI works by transforming image information into quantifiable data. Field reps can take only one shelf picture and retail image recognition will automatically extract relevant KPIs such as out-of-stocks and share of shelf. This information is then instantly delivered to stakeholders and can significantly speed up critical decision-making in areas that include product replenishment and promotion adjustments, for instance.
VisitBasis, creator of one of the systems for retail execution chosen by many market leaders in the CPG and product distribution industries, has developed BrandML, its own retail image recognition technology: while groundbreaking, BrandML can be implemented in a short period of time and is cost-effective, making it a realistic technology upgrade for retail-focused businesses of all sizes.
Interested in learning more about the BrandML image recognition technology designed to enhance capabilities of systems for retail execution?