Artificial Intelligence

Retailers remain stuck when it comes to Internet of Things (IoT) initiatives, according to “The Internet of Things in Retail: Getting Beyond the Hype.”   The second annual report from RSR shows that retailers are increasingly aware of the impact of IoT on customer engagement and competitive advantage. Yet, they are still hesitant to invest in cutting edge technologies due to operational challenges and a lack of supporting infrastructure.  

Data and analytics is more than a business foundation — it is a key differentiator in an increasingly competitive marketplace, according to Target’s senior VP Paritosh Desai.   As a result, Target is making a big push to add top tech talent, from software engineers to data scientists — a move that pushed the chain to “acquihire” tech companies. In this practice, larger companies acquire smaller ones to obtain their technology and, essentially, hire their leadership and teams.  

As shoppers demand a streamlined, more personalized shopping experience, retailers are adopting solutions that can draw customers into their stores.   This was revealed in the “ICSC Retail Technology Survey.” The report, which was conducted February 16-19, surveyed 1,022 adults 18 years of age and older.   Consumers of all ages want more access to information — and they expect retailers to respond to this demand.   

The Retail Industry Leaders Association (RILA) and Accenture on Monday announced the launch of a new initiative that will explore the impact that technologies such as artificial intelligence and virtual reality will have on the retail industry.   RILA’s new (R)Tech Center for Innovation will also help retailers create innovative ways of doing business.  

The retail giant just made another move in its battle against online rival, Amazon.   Walmart is testing a touch-screen monitor in its toy aisle at dedicated stores in Texas. The solution connects shoppers to available inventory at store-level, and if it’s not on-hand, the device enables them to order it online, according to The Street.   

A new partnership will help retailers make smarter business decisions faster.   Based on a new alliance between IBM Watson and Salesforce, the companies will seamlessly connect their solutions — a move that will enable a new level of intelligent customer engagement across sales, service, marketing, and commerce, among other operations.     

Digitization continues to take a foothold in supply chain, especially through the expansion of big data and the Internet of Things (IoT).   While innovation ranked highly, not all shippers have the same needs, according to “3PLs are Buzzing with Innovation: Bridging the Gap Between 3PLs and Shippers,” a report from JDA and SCDigest. The report tapped more than 100 shippers and 3PLs and reveals innovation from the perspectives of both shippers and logistics companies.  

Pinterest’s visual search capabilities just got broader.   On Monday, March 6, the social media site expanded its visual search technology into its browser extensions — a move that enables pinners to save images found online and use them as a jump-off point for discovering similar ideas on Pinterest, the company said.   Chrome is the first extension to receive the functionality.