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Nasscom Report Predicts AI Could Aid India’s GDP Growth: An Overview

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Nasscom Report Predicts AI Could Aid India’s GDP Growth: An Overview

The journey of AI and Data has been quite impressive and India is one of the smart countries that recognized the true potential both hold. Several industries are gearing up to adopt the AI technology to enhance their capabilities. The push for developing better models to utilize big data to derive smarter solutions is also there. The changing scenario is also gradually shaping up the future learning path of the current generation of Indians, as a significant chunk of them is steering their career towards the new pastures being created by AI. The demand for professionals trained in big data training in gurgaon, is on the rise and there is good news awaiting them.

India could envision a brighter future as a recent report from Nasscom predicts that by the year 2025, India’s GDP could expect leverage from Artificial Intelligence (AI) and data as, the combined contribution of both technologies could hover around $450-$500 billion. The report ‘Unlock Value from Data and AI: The Indian Opportunity’, is seeing this as a great opportunity that could give a boost to India’s economic growth and also aid in its recovery.

Nasscom has an action plan ready for India, it identified five key areas and it recommends that we need to put our focus on these core areas namely strategy, data, technology stack, talent, and execution. Nasscom’s report further elaborates that in the context of the current pandemic situation which is slowing down the global economy, India could assume a leadership position if it takes a holistic approach towards data utilization and AI effort.

The Nasscom report and the proposed action plan have been reviewed by the industry leaders and recommendations were sent to PM Narendra Modi. Ravi Shankar Prasad, the Minister of Law and Justice, Communications, Electronics and IT, sounded hopeful as he said that digital India helped reimagining the way the government stays connected to its citizens and AI and other technologies would push this objective further, he also said “.. In order to harness its full potential, India needs to embrace AI innovation and regulation with an open, inclusive…and a collaborative mindset,”.

There was a virtual launch of the report followed by a panel discussion where Wipro chairman Rishad Premji, opined “How do we ensure we move beyond from pilots to scalability. We do a great job in starting ideas off and getting them into pilot mode, but how do we get real scale where the magic lies and identify the challenges that lie in getting a pilot to scale,” Nasscom chairman UB Pravin Rao, seconded his view and insisted that the focus should be on execution.

The report suggested three interventions to create a ‘vibrant data economy in India’, and further recommended that high-quality data sets, data governance standards, and data marketplace need to be developed to realize the goal of creating a ‘vibrant data economy’. India needs to fortify its capabilities to position itself as a global hub and thereby open doors to investment, jobs and of course further innovation.

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The report further stresses the need to build an AI innovation ecosystem and engage the private sector and entrepreneurs to realize the goals. Debjani Ghosh, President, Nasscom, pushed the discussion further by stressing “Data and AI’s true potential emerges from its ability to drive transformation across multiple sectors through a diverse range of applications. The report articulates the key structural steps that India needs to take to realise the value of this opportunity,”

Truly India needs to work on developmental policies as per the recommendations in the report and start putting brilliant minds together to realize a smarter future driven by the combined forces of AI and data, a future that certainly belongs to us.

The blog has been sourced from: https://m.economictimes.com/tech/internet/artificial-intelligence-could-add-450-500-billion-to-gdp-by-2025-nasscom/amp_articleshow/77615427.cms?__twitter_impression=true


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AI Is Redefining Mobile App Technology

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AI Is Redefining Mobile App Technology

Gone are the initial days of mobiles that weighed like brick. Over the last decade, mobile phones have re-emerged as Smartphones which are reshaping our lives. Whether the way we stay connected, or, carry out tasks or, say even choose to entertain ourselves, the smart devices are changing the way we function.

Today’s Smartphones are loaded with apps designed to make life hassle-free and fun for us. From gaming apps to fitness apps to shopping apps, we have apps for everything. AI technology that is now seeping through every pore of our existence is impacting the way mobile apps are made and their perfect confluence is making us hopeful for a smarter future. App developers might consider updating themselves with artificial intelligence course in delhi, to stay ahead in the game.

The leading smartphone manufacturers such as Huawei,  Apple, are implementing AI, machine learning technology in the phones to make this device future-ready.  The built-in AI in Smartphones is indeed changing the ways these smart devices function. So, how exactly AI is making the impact on mobile app technology and to which effect?

Smart cameras

Who needs to invest in a DSLR, when you have all the features necessary packed into your Smartphone camera? With smart filtering, picture enhancement capabilities being available thanks to smart AI algorithms, all you need is your phone to click that perfect shot. It no longer matters whether you are taking photos in the dark, or, the background of your subject is chaotic or, completely hideous. The smart editing features would transform your images in no time.

Smart search

Using your Smartphone to conduct a quick search on Google is something you probably do without even giving the process a single thought. Technology has advanced to a degree thanks to AI, that now instead of putting in a text query or, a voice query, you can move straight to visual search. This enhances your search experience, as sometimes you might not know the exact search term, and visual search can be a great aid for you.

Smart translations

Just imagine having Baidu on your phone, the search engine that does translation in real-time, so, having an app on your phone that does the same can be a life-changing experience for you. The available apps do the translation job well but, they do require you to have a continuous internet connection. With AI algorithms taking things further, these translations can be done in real-time without the obligation of having access to the internet.

Smart facial unlocking

 As soon as Apple introduced the world to its revolutionary face unlock feature, the other giants entered the race to make this feature available to their users. They have done a great job too, now a good Smartphone has the smart face unlock feature and this technology is an AI miracle that we are taking advantage of. Image recognition technology is moving fast and advanced research work is going to push it to another level. Now there are hand-free gestures available.  The algorithms are now smart enough to recognize a face even if its appearance has changed. Users can expect nothing but, a smooth face unlock feature that keeps their device secure.

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Smart authentication

The availability of Smartphones is leading us to execute all our tasks using the device. From mobile banking to shopping all financial activities are being conducted online, the phone also contains valuable data that is vulnerable. AI algorithms can secure the device and keep the hackers and cyber crimes at bay while keeping the user data safe. Biometric authentication reaches a new level with AI, keeping the security threats away while staying user friendly.

The future of mobile apps looks brighter as AI-enabled solutions make data security a priority while making the apps more convenient and versatile. There is a already a big demand for professionals who are proficient in AI technology, so approaching a deep learning for computer vision training center in Delhi NCR, would be a timely move for an aspiring developer.


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AI is Changing The Rules of The Gaming Industry

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AI is Changing The Rules of The Gaming Industry

The world of gaming has many tricks up its sleeves to lure avid gamers into spending hours in a virtual world that challenges their skill and intellect to overcome cleverly devised obstacles.  The high a gamer experiences crossing multiple levels and unlocking ‘achievements’ is incomparable. Game developers spend hours brainstorming ways to create simulations that get as real as possible. AI, the groundbreaking technology that has its core in simulating human intelligence, is no doubt should be the most sought after solution the gaming industry needs to revolutionize the gaming experience across multiple platforms.

 AI integration in gaming: What to expect?

Powerful visuals

One of the core elements of great gaming experience has to be the visuals, games that have appealing visuals and great simulation draw more gamers. the design team keeps on working on graphics to improve the visual quality. AI integration could be a great savior here as, it can learn from the data and could predict the expectation of the gamers and come up with game environments, characters that are as close to reality as possible. The smart algorithms could effortlessly simulate human movement and expression by observing them in reality and thereby create better virtual characters and environment. The designing process could take less time as the entire process could be automated, but developers should have a background in deep learning for computer vision course to create the ultimate magic.

Smarter gaming experience

The game developers relentlessly try to create a smart experience for the gamers, a feat they could easily achieve by implementing AI technology. By enabling voice and sound recognition, pattern recognition the games can be more futuristic. With reinforcement learning, the game characters would be able to evolve on their own as they would be learning from their own actions and later they would modify themselves without any intervention.

Enhanced gaming experience

When it comes to games there are plenty of options available in any genre of gaming. However, gamers prefer those games that offer a complete package of experience including attractive visuals, engaging ambiance, interactive features. All of these could be achieved with AI and furthermore, the customization of the game being played could also be done in real-time thus enabling the player to get a completely immersive experience. The integration of AI certainly can make things more intuitive.

Realistic games

The initial stages of gaming visuals and the awe that it evoked have become a thing of the past. Today game developers can take things into a futuristic world with just one twist of AI. Indeed the augmented reality is now a part of the gaming experience that no gamer wants to miss out on.  The game developers are applying 3D visualization, simulation with keen detailing as the gamers now crave for life-like ambiance. Furthermore, the games are now sharper and could respond to the moves being made by the gamer in real-time.

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Games on your devices get an edge

Even though gaming is a universally loved and shared phenomenon, not everybody has access to cool gaming consoles. Smart devices that we have like our mobiles and tablets are the devices that are probably more used for playing multiple games. However, those who have played across both platforms would agree to the fact that mobile gaming is not the same. There are some limitations and smart AI algorithms are now being applied to address those specific issues and design games that are not only visually appealing but also interactive in nature.

The gaming industry is moving at a fast pace with AI technology, the merger is beneficial and promises a brilliant gaming experience for future gamers. Building a career in this field is a great idea and if you could upgrade yourself with a course like artificial intelligence certification in delhi ncr, then the sky is your limit.


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Why The HR Industry Should Implement AI Technology?

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Why The HR Industry Should Implement AI Technology?

Human resources is a significant part of business as it is in charge of managing the most valuable asset a company can have the employees. AI technology is being adopted in HR practices as businesses have started to identify the crucial areas in HR which could perform better by incorporating AI solutions.

Whether it is recruiting new talent, employee retention, or, performing administrative tasks, the HR department can surely benefit from the application of latest AI tools to make their tasks error-free, be more objective in their approach, automate tasks and not to mention gain deeper insight into employee data to get their strategies right. Implementation of AI requires having skilled personnel who have pursued artificial intelligence course in delhi.

Although the implementation is still happening on a small scale and somewhat sporadically,  the sector is waking up to the power of AI and slowly savoring the benefits.

How the HR sector is benefitting from AI

Hassle-free hiring

Recruiting new talent is one of the crucial jobs handled by any HR team in any organization. However, the usual hiring process can be a tedious task, and more often than not is not free from error or, worse bias.

Not just that but, screening of applications takes a painfully long time and scheduling interviews can be hectic.

AI can address all these issues, by automating the entire process. The task of screening application and replying to candidates can be automated, which means the employers can act faster and since it would not require much involvement from the HR team, they can focus their attention on some other productive work.

Smart screening of applications makes it easier and faster to shortlist candidates. Maintaining a database of past applicants can immediately alert the HR team to find a suitable candidate who might be considered for a new position instead of looking for new ones.

Furthermore, the task of background verification would become an efficient process, since, detecting any oddity in the datasets will get easier. 

Keep bias out of hiring

As more and more companies are now focusing on having a diverse workforce that promises to provide equal opportunity to employees regardless of gender, race, keeping the element of bias out of their recruiting process is essential otherwise it might harm their image.

The job postings that one comes across often have been detected to contain biased language which despite being apparently harmless in nature might turn off a potential candidate. During the screening of applications and interviews, the element of human bias can creep in as well.

With pattern detection of previous applications and subsequent response, this issue can get resolved. It would be possible for a recruiter to access a database that contains far more diversity and with the help of NLP, it would enable them to write a job posting more objectively. Having knowledge in Machine Learning Using Python, can enable the team to detect the negative patterns faster.

Improve the onboarding process for recruits

Once the hiring process gets over and done with onboarding begins, which could be a taxing experience for both new recruits and the HR team if not handled with care. As the new faces get integrated with the system, the HR team faces several queries, and investing a significant amount of time for doing this task is not possible for them.

As far as employees are concerned not having someone around to clear away confusing can be a daunting experience.

AI-powered chatbots can take care of this issue, by helping the recruits access all the necessary information whenever they need from anywhere, they can get the contact information, guidelines without constantly nagging the HR personnel. The onboarding process becomes faster, efficient, and less daunting for all.

Employee retention becomes easier

HR is not just about recruiting new talent, they are entrusted with the responsibility of nurturing the human assets in the firm. However, for any firm retaining their employees can become an issue and if not managed well they might also have to deal with employee attrition.

So, assessing the employee needs is essential and with smart AI systems in place, the HR team can measure the satisfaction rate, performance of the employees through personalized surveys.

Patterns could be detected in the response to indicate which employees might consider leaving.

The team could act on the findings and make the necessary effort where it’s needed to retain an employee. Conversational AI can also help them in keeping track of training progress.

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Repetitive tasks could be automated

The HR department has to deal with scores of administrative tasks that require dealing with a huge amount of data and most of these tasks can be dull. AI program can entirely automate the tasks such as interview scheduling, and help the HR team focus on something productive. They can focus the time on strategizing for the future. Automation not only saves time but also adds efficiency to the whole process.

In the field of recruiting there have been some interesting development due to AI and HR collaboration. Let’s check out a couple of these platforms

TextRecruit: It helps with both recruiting and onboarding process

ARYA: Employes machine learning to find the best candidates for employers

Restless Bandit: It is a bot recruiter that is hired by industry leaders like Adidas

Mya Systems: This AI assistant guides the candidates to better their communication with recruiters

The HR industry is opening up, but, due to issues like finance, lack of skill it has not been able to fully utilize the power of AI. Addressing the skill-gap is essential here and that could be done by encouraging workers to take up courses like artificial intelligence certification in delhi ncr.

 


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Learn How To Do Image Recognition Using LSTM

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Learn How To Do Image Recognition Using LSTM

This is a tutorial where we teach you to do image recognition using LSTM. To get to the core you have to understand that how a convolutional neural network perceives the data. In this tutorial the data we have is four-dimensional data, so, you need to convert the dataset accordingly. You can find the tutorial video attached to this blog.

Now suppose there is an image 28 by 28 pixel, if the image is black and white then there would be only one channel. So how will you put the data in CNN, it will be like the number of samples, then followed by the number of rows of the data, then the number of columns, then channels. These are the four values that need to be provided in the input layer, at the very beginning. Now, these values must be converted according to the LSTM. Now the LSTM wants the STF, like the number of samples, time steps like how many time steps back you want to go for making further prediction because LSTM is a sequence generator and the number of features. So, we will be converting the image that is the number of sample 28 by 28 one pixel into one sample of 28 by 28, that’s the only job you have to do and all you need to accomplish this is to prepare the data accordingly.

There will be no mysteries here, in fact, it is a normal neural network LSTM, that anybody can run in a most simple form, and in this tutorial, it is also run in the most simple form there is no complexity involved and only a few epochs will be run.

You can find the code sheet you need for this at

 

Also follow this video that explains the process step by step, so that you can easily grasp how LSTM can be used for the purpose of image recognition. To access more informative tutorial sessions like this follow the DexLab Analytics blog. 


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DexLab Analytics Presents Mega Artificial Intelligence Course In Python: An Online Demo

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DexLab Analytics Presents Mega Artificial Intelligence Course In Python: An Online Demo

Dexlab Analytics is undoubtedly a leading name in the field of the Big Data Analytics industry. The latest offering from this institute is a course that is remarkable in so many ways. The course is Mega Artificial Intelligence Course In Python, which aims to cover everything you ever need to learn regarding artificial intelligence. To help you get a better grasp of the course we have also prepared an online demo and the demo video is attached at the end of the blog do check that out to clear away any confusion you might have.

Before getting into the course details, there are certain features of the course that we think you should know about. To begin with, you do not need any special educational background, you can hail from any stream and can still pursue the course because here we will teach you from scratch. Just having some mathematical knowledge is fine. We have kept things flexible here, so you can repeat the course if and when necessary. The notes that you will be needing for the course including the code sheets, will be provided to you in the beginning so that you do not have to waste precious time in class taking notes.

However, the nature of the course will be online, because due to COVID 19 situation offline classes are temporarily not possible. You will be given all the classroom videos, furthermore, there will be guidelines regarding Kaggle.com where we will teach you how to participate in this pioneering data science website, how to compete over there and offer you tips to increase your ranking. All in all the course aims to transform you into a super data scientist.

You can find the detailed course information, the online demo and brochure in the PPT format at

 

The course will be divide into three sections starting with PYTHON  PROGRAMMING for Data Science. Throughout the sessions, you will get familiar with the language, its libraries. You will be taught to use Plotly and handle projects before moving onto the second section which is AI( Artificial Intelligence) comprising three components namely Statistics, Machine Learning, and Deep Learning. Along with picking up the nuances, you would handle mega projects including one on self driving cars. Moving on to the next segment of Big Data get introduced to PySpark. Handling a growing amount of data could be tough, so, an introduction to Quantum Computing seems necessary before wrapping things up.

Do check out the course details in the video attached below that gives you a thorough tour of the entire course and also check out the course brochure. Our contact number is provided there along with our website address, feel free to contact us regarding any query.


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A Quick Guide To Natural Language Processing (NLP) And Its Applications

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A Quick Guide To Natural Language Processing (NLP) And Its Applications

When you interact with Alexa, or, conduct a voice search on Google, do you wonder about the technology behind it? What is it that makes it possible to communicate with machines as you would with a human being?

Natural Language Processing (NLP) AKA computational linguistics is a subset of Artificial Intelligence, makes all of it possible by combining artificial intelligence, machine learning, and language to facilitate interaction between computers and humans.

So how does NLP work?

When you put a voice command, it gets recorded and then the audio gets converted into text, and the NLP system starts working on the context and the intention of the command. Basically, the words that we speak are labeled and get converted into a set of numbers. However, Human language is complex and has many nuances and underlying subtexts. The same word under a different context can have different connotations. So, when a simple command is put is gets easier for the machine to follow through as it contains simpler words and clear context, but, the system needs to evolve more to fully process the complex language patterns that evolved through ages. There are courses available such as natural language processing course in gurgaon that can help one acquire specialized knowledge in this field.

NLP and its applications

NLP despite being in a nascent stage is getting recognized for its potential and being applied for executing various tasks.

Sentiment Analysis to assess consumer behavior

  This functionality of NLP is an important part of social media analytics that parses the comments and reactions of users regarding products, brand messages spread over social media platforms to detect the mood of the person. This helps businesses gauge customers’ behavior and to make necessary modifications accordingly. 

Email filtering and weeding out spam

If you are a user of Gmail then you must have noticed the way your emails get segmented once they arrive. Primary, Social, and Promotions are the three broad categories followed by others, there is a segment for spams as well. This smart segmentation is a stark example of NLP at work.

Basically text classification technique is used here to assign a mail to a certain category that is pre-defined. You must have also noticed how well your spam is sorted, this is another result of the application of NLP where certain words trigger the spam alert and the mail gets sent straight to the spam folder. However, this sorting is yet to be perfected via further research.

Automatic summarization to find relevant information

Now thanks to digitization we have to deal with huge amounts of data which has led to information overload. This massive amount of data needs to be processed to find actionable information. Automatic Summarization makes it possible by processing a big document and presenting an accurate and short summary of it.

Chatbots

No discussion on NLP can ever be complete without mentioning the chatbots. The customer service segment is gaining huge benefits from these smart chatbots that can offer virtual assistance to the customers 24×7.  Chatbots can not only enhance customer experience but, are also great for reducing costs for any business. However, modern-day chatbots can handle simple, mundane queries that do not require any special knowledge and skill, in the future we could hope to see the bots handling specialized queries in real-time.

Spell and grammar checker

If you have ever used Grammarly and felt impressed with the result then you must have wondered at some point how does it do it? When you put in a text, it not only looks for punctuations but also points out spelling errors and also shows grammatical errors in places where there is no subject-verb agreement. In fact, you also get alternative suggestions to improve your writing. All of this is possible thanks to transformers used by NLP.

Machine Translation

If you are familiar with Google and its myriad apps then you must be familiar with Google Translate. How quickly it translates your sentences in a preferred language format, machine translation is one application of NLP that is transforming the world. We always talk about big data but making it accessible to people scattered across the globe divided by language barriers could be a big problem. So, the NLP enabled us with machine translation that uses the power of smart algorithms to translate without the need of any human supervision or intervention. However, there is still huge room for improvement as languages are full of nuanced meanings that only a human is capable of understanding.

 What are some examples of NLP at work?

We are not including Siri, or, Alexa  here as you are already familiar with them

  • SignAll is an excellent NLP powered tool that is used for converting sign language into text.
  • Nina is a virtual assistant that deals with banking queries of customers.
  • Translation gets easier with another tool called Lilt that can integrate with other platforms as well.
  • HubSpot integrated the autocorrect feature into its site search function to make searching hassle-free for users.
  • MarketMuse helps writers create content that is high-quality and most importantly relevant.

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Just like AI and its various subsets, NLP is also a field that is still evolving and has a long journey ahead. Language processing is a function that needs more research because simulating human interaction is one thing and processing languages that are so nuanced is not a cakewalk. However, there are plenty of good career opportunities available and undergoing an artificial intelligence course in delhi would be a sound career move.

 


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How Can AI Help In Streamlining Small Business Operations?

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How Can AI Help In Streamlining Small Business Operations?

Running a business is a challenging job, especially when business operations take place on a small-scale platform. Small business owners need constant motivation and brainstorming to keep their business in a profitable position.

However, as the world is busy deriving benefits from AI technology, and professionals opting for artificial intelligence course in delhi for better career prospects, small business owners too should seize this opportunity to power up their businesses. 

Why the small business owners are shying away from AI?

With biggies like Google, Amazon,  Apple, Microsoft empowering themselves with AI tools, small businesses are somewhat showing reluctance towards the new technology. Only a small percentage of businesses ranging from small to medium have so far been influenced by it. A 2018 survey showed the number to be around 13.6%.

This indicates there is some inhibition in the small business community, but, it might not just be that, when questioned most small business owners often cite reasons like lack of expertise, financial concern to be the causes.

They are mostly under the misconception that such advanced technology is best suited for giant platforms and their small scale businesses are not going to rake in any profit, even if they invest. They don’t even have tons of data like most businesses, to begin with. So, AI being a data-driven technology, might not work for them.

Their perception is gradually changing because of the way AI has started seeping through the very fiber of civilization and impacting so many aspects of life. It is not possible for small businesses to indulge in AI research or, develop a platform specifically for their business needs for feasible reasons but, they can get ideas regarding how best to conduct business the AI way.

Let’s find out how AI can be incorporated into small business infrastructure to improve five core areas.

Smarter sales and marketing with AI-powered CRMs

A CRM is an indispensable tool for any business, let alone a small one. Basically, a CRM works to garner customer data from various platforms to enable the sales and marketing team to keep track of their valuable customers while pursuing new leads.

The fusion of AI and CRM could do wonders as it is evident from the way Einstein AI, introduced by SalesForce is working. 

You stand to gain insight into the customer mindset as this fusion will work to analyze customer mindset by analyzing the conversations that happened across different channels. This insight can help shape your sales and marketing efforts accordingly especially if you can upskill your team with customer market analysis courses.

Keep an eye on your rivals

Staying one step ahead of your biggest competition in the market is a crucial need no business owner big or small can afford to ignore. However, it is not easy to monitor every move they make, but, AI can be your biggest ally in helping you track your rival’s every digital move.

AI-powered Crayon, is a smart tool that monitors what your competition is doing on social media, across websites and applications, you can gauge their performance and activities and keep a tab on their marketing strategies, pricing, and other such issues to make suitable modifications to your own.

Automate customer service

 Handling your customers is an important but, tedious task and as your business starts to grow so does your customer base and their queries. Investing in a big support team might not always be a feasible option for you, so why don’t you take advantage of chatbots to automate the whole process and make it more efficient?

Not all queries are important, some of these are generic which the chatbots can handle while your sales team can focus on more personalized or, technical queries to keep your customers happy. Answering support tickets can be easy with a tool like Digital Genius. It is a great option even for those businesses which can’t afford a support team.

Smoother HR operations

No matter how small scale your business might be, you still have to manage your employees and hire new ones, which means having an HR team ready round the clock. Now you can manage this segment bypassing all hassles thanks to AI-powered platforms that automate your HR functions, be it screening applications, scheduling interviews or, onboarding the new employees, every segment will be well taken care of. Not just that but, the administrative jobs that the HR have to do repetitively could be automated too.

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Customize your customer journey

Customers like to be pampered, when they shop from big brand names they hardly get to experience that personalized approach. The trendy products aimed at mass-market leave them wishing for something that would suit their style. Retail Analytics Courses can help you develop a better understanding of the whole issue.

 Being a small business owner you already have the advantage to take care of this issue and you can be near perfect in your approach if you get support from smart AI algorithms that can browse through customer data and detect patterns to help you understand the personal preferences of customers and thereby allow you to modify your products accordingly to suit their needs.

Coupled with AI power you could also improve your logistics to ensure your supply chain does not experience any glitch.

The development of AI platforms programmed to perform specialized tasks need to be recognized by the small business community, only then they would find the motivation to channelize the power in the right direction. They can also consider upskilling themselves with deep learning for computer vision course, to be able to harness the power of AI.

 


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Retail Therapy Powered By AI

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Retail Therapy Powered By AI

Retail has been one of those smart sectors that embraced the power of AI technology to offer a personalized shopping experience to the customers. Let’s have a look at how AI has been a great tool in helping the stores rake in money.

 Be it smart product recommendations by analyzing shopping patterns, or, offering better inventory management solutions today’s retailers are doing it just right. The sector needs to focus on training their employees, as undergoing customer market analysis courses is of paramount importance.

Offer personalized product recommendations

This has been one of the most revolutionary changes in the e-commerce industry. With AI-powered technology  retailers can offer personalized product recommendations to the customers. Using smart tools they can analyze the shopping preferences, shopping patterns of a customer as well as their browsing history.

The data provides them with valuable insight which they apply to recommend products following that specific customer need. By doing so, they can retain customers and experience a better conversion rate. Tools such as  Stitch Fix,  Boomtrain are carrying out this task successfully to recommend products that suit customer whimsies.

Smarter inventory management

Inventory management is one of the key areas the retailers have to focus on. Previously they would just stock up on items without having access to any valuable customer data. Now that they can sift through big data, they can analyze past trends and could predict what upcoming trends are to look out for. Being armed with data they now make decisions accordingly.

 In fact, to ensure that there is no gap in the supply chain robots are being put to use. Self-scanning robots used by Walmart could be a case in point here. These robots look for items that need restocking. Some stores are going one step further to use algorithms to analyze receipts to find out which products are in most demand and they restock accordingly.

Virtual assistants taking care of customers

Customers have no access to virtual assistants, chatbots who not only offers constant support but, also interacts with them offering personalized recommendations, as these bots are powered with NLP technology, they are more intuitive and capable of engaging with customers. In fact, with automation being available, sending a faster response to customer queries has also become more efficient. Navvi is a robot that handles customers along with handling other responsibilities.

Enabling shoppers to take immediate action

Any average person these days spends a good amount of time browsing through social media platforms, different sites which more often than not are used as advertising platforms. So, when a prospective customer finds something interesting, they check it out and then they go on to something else and later might forget about it.

But with AI-powered tools like Lens feature, they can capture the image of the product they like and search for it, thereby ensuring that they can embark on their shopping quest. This feature was initially introduced by Pinterest. With further application of deep learning for computer vision with python, there could be more developments in the field.

Taking chaos out of shopping with smart solutions

When buyers visit a store physically or, virtually they usually browse through scores of products to find what they need. Oftentimes they have difficulty locating the product they had selected online in the physical store. But, with a unique tool like Amazon Go, they can completely be at ease.

They can select the items and put in a virtual basket and when they enter the physical store they can easily track the items they had previously selected and that’s it. No complications involved and they enjoy seamless shopping experience. Zara takes a step further and deploys robots who fetch the product ordered and delivers it. 

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Identifying prospective leads

AI has introduced some exclusive features such as face recognition, which is being now utilized by retailers to target potential leads. This is leading to a seamless merger of experience one might get in a physical and virtual store. Face recognition feature is being used to find out which products customers are spending time on in the store and based on that, recommendations are being sent online.

The shoppers are no doubt having the time of their lives enjoying this digital shopping experience, they are now able to find and buy products they need instead of wasting money on something random. The retail sector is all set to take the next big leap with AI. Retail Analytics Courses are going to be in demand as the sector needs personnel who are proficient in data handling.

 


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