The AI Industry Series_ Top Retail AI Trends To Watch.pdf
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1、IAI INDUSTRY SERIES Top Retail AI Trends To WatchIIAI vs. super fakes. The future of shoplifting. Robots in your supermarket. We look at the top artificial intelligence trends reshaping the retail industry.Many of the AI trends emerging in retail are the result of a wake up call from Amazon, as the
2、tech giant forces retailers to reconsider their e-commerce strategies and innovate in the brick-and-motor space to stay competitive.In our second industry deep dive, we use the CB Insights database to unearth the top AI trends transforming the retail industry.(Check out our first report in the AI In
3、dustry Series: Top Healthcare AI Trends To Watch.)IIIWhy now for AI in retail?Amazon has driven many of the leading trends in retail AI.The companys expansion into grocery and promises of 1-hour grocery delivery have pushed supermarkets to experiment with AI-run “micro-fulfillment” solutions to stay
4、 profitable.Amazons introduction of grab-and-go cashierless stores has spurred an unmanned store frenzy in China, and smaller startups are emerging in the US to service other retailers who want in on the cashierless trend.Other emerging applications of AI have been driven by a desire for more visibi
5、lity and transparency such as computer vision for in-store inventory monitoring, or neural networks for tracking goods through the supply chain.But retailers hoping to capitalize on these technologies to keep up with tech giants like Amazon still have a ways to go.In an analysis of 1,600+ earnings c
6、alls from more than 50 publicly traded US retailers, only 9 retailers had begun discussing AI-related strategies for their websites or physical stores as of January this year.However, we are seeing increased investment in retail AI. Retail AI startups raised $1.8B across 374 deals from Q113 Q318. (T
7、his excludes sales, marketing, and advertising startups providing AI solutions for clients across different industries.)IVCompetition from Amazon, demands for transparency, and increasing investment are all transforming the retail AI landscape.Here are the top retail AI trends to watch as the indust
8、ry takes shape. VBrands pay big to be on supermarket shelves AI is making sure theyre visibleAI vs. super fake goodsAR & computer vision make beauty brands data richMicro-fulfillment centers help grocers connect with online shoppersThe voice shopping revolution that never wasWalmart goes all in on r
9、obotics R&DShoplifting in the age of grab-and-goChinas unmanned retail frenzyFood space goes driverlessRise of the AI stylist141114182023262931Table of ContentsVIAt CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence compa
10、ny that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. From Cisco to Citi to Castrol to IBM and hundreds of others, we give companies the power to make better decisions, take control of their own future, and capitalize on change.VIIThe CB In
11、sights platform has the underlying data included in this reportWHERE IS ALL THIS DATA FROM?CLICK HERE TO SIGN UP FOR FREEVIIIBeti Cung,CORPORATE STRATEGY, MICROSOFT“ We use CB Insights to find emerging trends and interesting companies that might signal a shift in technology or require us to realloca
12、te resources.”TRUSTED BY THE WORLDS LEADING COMPANIES1Brands pay big to be on supermarket shelves AI is making sure theyre visibleShelf space is limited, and brands pay thousands of dollars to compete for it. Beyond that, they have little visibility into what goes on in the store. AI is changing tha
13、t.“Slotting fees” are not a new concept in retail.Apple & Eve spent around $150,000 to secure freezer space for their fruit punch product in a few stores, while Frito-Lay paid an average $100,000 per supermarket chain to introduce a new product, according to a 2001 study published in the Journal of
14、Law and Commerce.Earlier this year, Whole Foods considered charging its top vendors around $300,000 for several weeks of prime shelf space.But once brands sign a contract with the supermarket, they have little visibility into what happens on the supermarket shelf and whether their products are displ
15、ayed as promised.12Startups are capitalizing on this by selling real-time store data.Computer vision platform Trax Retail, for instance, uses images captured by in-store cameras, robots, or mobile phones to stitch together a digital version of the physical store.Trax said 95% of its business is with
16、 manufacturers (like Coca- Cola and Henkel), in an interview with Computer Business Review.Traditionally, brands send salespeople or auditors to manually check product placement in stores. While Traxs product still requires people to visit the supermarket, it is attempting to auto- mate the tracking
17、 of metrics like share-of-shelf and distribution.Supermarkets like Walmart are looking into selling this data directly to manufacturers. Below is an excerpt from Walmarts recent patent application.3Retailers need in-store data to track items and manage inventory, among other things.Walmart partnered
18、 with Bossa Nova Robotics to monitor misplaced price tags and missing items on shelves in 50 of its stores.But the above patent hints at a more futuristic plan, where in-store retail robots receive requests for real-time data from an external vendor (or a CPG company like Coca-Cola).The system then
19、charges the vendor for the task before the autonomous robots complete it.Startups could also potentially partner with both brands and supermarkets as Trax has already begun to do and monetize by selling the same computer vision application for different use cases.But the retail store environment sti
20、ll poses unique challenges for computer vision algorithms. Two CPG brands may have very similar packaging, items stacked behind one another may not be visible, or items thought to be missing could be tucked away or in a different aisle. Startups are acquiring other startups to improve their technolo
21、gy and add additional datasets.In July 2018, Bossa Nova Robotics acquired Hawxeye, an AI company developing face detection and object recognition technology. Trax acquired retail intelligence company Quri in January, and Nielsens Store Observation unit last year.4AI vs. super fake goodsFakes are get
22、ting harder to spot. Online shopping is making it easier than ever to buy fake goods from luxury handbags to watches and cosmetics on the internet, forcing brands and pawnbrokers to experiment with AI.From drugs to handbags to smartphones, counterfeiting is a problem that affects all types of retail
23、.Some product imitations look so authentic that they are classified as “super fakes.”A simple keyword search on the CB Insights platform shows that discussions on counterfeits are trending up.25Chinas rapidly growing e-commerce platform Pinduoduo mentioned “counterfeit” 11 times in last quarters ear
24、nings call, describing “a very hard fight against counterfeit goods and problematic merchants.”“In 2017, weproactively removed a total of 10.7 million problematic products and blocked 40 million links thatraised infringement issuesWe have also partnered with over 400 brands to work together on comba
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