Recent Study Underscores Emphasis on AI, ML and Computer Vision

In the dynamic world of retail, adaptation is the name of the game. Consumers no longer settle for mere transactions; they crave immersive, customized shopping experiences that address their needs conveniently and consistently. This demand has ignited a race among retailers to harness the latest technologies to reimagine the entire shopping journey.?

Recent research by Honeywell reveals a compelling statistic: nearly six in ten retailers say they look to embrace AI, machine learning and computer vision within the next year, promising an elevated shopping experience in stores as well as online. Consumers now expect convenience and personalization, compelling retailers to evolve and/or reinvent themselves.?

Honeywell's statistics indicate global retailers recognize AI and computer vision's potential in enhancing the shopping experience. Computer vision analyzes customer behaviors, tracks product popularity and predicts inventory needs. This data-driven approach is invaluable for retailers optimizing their operations and catering to individual customer preferences.??

Major retail chain Home Depot has been actively improving shelf availability through computer vision. This initiative exemplifies the tangible application that enhances the shopping experience by ensuring that products are readily available when customers need them.?

The impetus for this change is not confined to any single region; it's a worldwide phenomenon. Retailers around the globe are recognizing the potential of these technologies to create more efficient, customer-centric experiences. Insights from these innovations are poised to redefine the future of retail, as per Honeywell's recent research.???

Amid this evolutionary wave, Digit7 emerges as a leader in computer vision technology. As a thought leader standing at the forefront of the latest industry innovations, the company has developed solutions that cost-effectively yet speedily harness the power of computer vision for the benefit of retailers and consumers alike. Of course, the integration of AI, machine learning and computer vision is not a move to replace human employees; it's a quest to enrich a business’s capabilities.??

Employees will continue to be the heart of the retail industry, while technology will play an ever-growing role as the driving force behind a more connected, customer-centric future. AI automates repetitive tasks, allowing human employees to focus on value-added tasks that require empathy, creativity and critical thinking, like meaningful customer interactions and strategic decision-making.??

Computer vision is changing the in-store checkout experience. Retailers are increasingly adopting frictionless checkout systems, as seen in the recent case of 7-Eleven stores in Australia. This not only eliminates the frustration of waiting in long lines but also streamlines the entire shopping process. It allows customers to pick up their items and walk out without traditional queues.?

AI and machine learning, when combined with computer vision, also offer predictive insights benefiting retailers. These technologies can analyze vast amounts of data, helping retailers understand customer preferences and shopping patterns. Retailers, armed with this knowledge, offer highly personalized shopping experiences, potentially making customers feel more valued and understood.???

In this age of innovation, the possibilities are endless, and the retail industry is primed to thrive like never before. Digit7 shines as a beacon of innovation, embodying the era’s spirit of progress and helping to shape the future of retail as a true modernizer.?

About Digit7?

Digit7 is dedicated to delivering AI Matrix driven products tailored to the evolving revenue spaces. Our product range enhances store operations, frictionless checkout, inventory management optimization, and data labelling automation, resulting in an exceptional customer experience. Contact us today to streamline shopping experiences for your customers!