|In today’s modern world, technology has become a staple in our daily life. However, due to the advance of technology, our shopping habits are no longer a secret. That is because many retailers started using artificial intelligence technology to predict and encourage us to purchase.
Retail consultant Daniel Burk call this phenomenon as “the holy grail… to build up a profile of customers and suggest a product before they realize it is what they wanted”.
According to BBC Tech News, here are some examples of the companies that uses artificial intelligence technology:
Ubamarket, a UK firm
Will Broome is the founder of this company. Ubamarket is a firm that allows people to pay for items via their phones, make lists, and scan products for ingredients and allergens through their app.
“Our AI system tracks people’s behaviour patterns rather than their purchases, and the more you shop the more the AI knows about what kinds of products you like,” he says.
According to Will Broome, he said this artificial intelligence module would learn as it goes along and becomes anticipatory. To illustrate, this AI module can predict how likely you are to try a different brand or to buy chocolate on weekends.
As a result, people with the app are three times more likely to return to the shop.
SO1, a Berlin start-up
S01 is doing similar things with artificial intelligence technology for retailers in Germany. Even though the goods have promotions, consumers are more likely to buy those AI-suggested goods.
While getting offers on the good that you want to buy rather than some random coupons is quite a convenience for customers, it will also lead to some issues. Jeni Tennison, who heads up the UK’s Open Data Institute, a body that campaigns against the misuse of data, remains cautious about the vast amounts of information on people that is being collected.
She pointed out that there are bigger societal questions raised by the use of AI technologies among retailers.
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