Application of Artificial Intelligence in Retail Sector

BM 565 Digital Business & New
Technologies

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Importance of the topic................................................................................................................1
Development of the topic.............................................................................................................1
Technologies used in the topic.....................................................................................................1
Various technological platforms and software............................................................................2
Businesses using AI.....................................................................................................................2
Using AI as business tool and its effectiveness...........................................................................3
Relationship between digital technologies with new and old business management theories....3
CONCLUSION................................................................................................................................6
REFERENCE...................................................................................................................................7

INTRODUCTION
Technology is playing vital role in upgrading businesses. Nowadays company's are dependent
on business for their business operations. This report is based on the topic which is application
of artificial intelligence in retail sector. This study will discuss importance and development of
the topic. Further it will shed light on technological platforms used in the topic and how
organisations are business technology. This report will also discuss the relationship between
digital technologies and business and management theories.
MAIN BODY
Importance of the topic
Application of artificial intelligence (AI) is important because it helps in making business
operations smooth and effective. The study on this topic is also done less so it will be fruitful to
carry the study on this topic (Sathananthan and et.al., 2017). AI does not only saves time of the
organization but also helps company in achieving their goals. In today's world it has become
impossible to lead life without using AI. In retail sector there are various business activities in
which AI played vital role in carrying everything smoothly.
Development of the topic
AI combined large data or information with speed and intelligent algorithms so that software can
work automatically by using patterns from the data. AI has developed in order to fulfil business
needs. Nowadays business especially retail business require AI so that they can carry complex
business tasks. More over this topic has developed so that more business can get understanding
about the importance of AI in their business.
Technologies used in the topic
the technologies which are used in AI are speech recognition which converts human voice into
some format so that computer application can process it. This technology are widely used by the
business because it make business functions smooth. Another technology is machine learning
platforms whose main aim is to develop advanced techniques so that business can use that
specific techniques in order to carry their business effectively. Machine learning concept is
becoming famous because they uses algorithms, training tools, applications etc. virtual agents
is also the technology which comes under AI. Virtual agent is basically the computer program
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which has the capability to interact with humans. There are lot of companies which provide this
services which are Amazon, Apple etc.
All the technologies which comes under AI is used by the business because AI has become need
of the business (Witkowski, Koralewska and Huk, 2020). In order to gain competitive advantage
it is important for the business to use artificial intelligence in their business operations.
Various technological platforms and software
google AI platform-
AI platforms makes the work easy for data scientists, data engineers etc as they carry their
projects quickly and also it is less costly. With the help of this platform company can run their
very own machine learning applications.
Tensor flow-
it is the kind of software which uses graphs for numerical computation. In the graphs, nodes
represents mathematical operations while the edges in the graph shows tensors. This software
was developed by the engineers which was concerned about machine intelligence research.
Rainbird-
it is one of the AI platform which helps in making business operations effective and smarter.
Under this, systems are build by the experts which have human like decision making capabilities
which brings good quality of work. This system have such programs installed which automatic
process human decisions. It can be said that this technological system provides human touch.
Businesses using AI
almost every business whether it is small or large organization are using artificial intelligence in
their business operations (Pamungkas and et.al., 2020). Mostly e commerce business are using
technologies because they have digital platforms which runs bys using various technologies. AI
only have made possible to run e commerce businesses as they have advanced technologies
which carries business operations effectively. Every business are adopting advantages
technology because now businesses have understood the importance of technology. Businesses
who have still restricted the use of technology are reducing their competitive advantages.
With the help of artificial intelligence company can handle many customer requests. As it can
route all the calls to those employees which can handle the calls properly. Retailers are also
using AI for product selection, store design, monitoring store activities etc. as retail companies
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