Artificial intelligence within the retail industry is becoming very evident especially across the product and service cycle be it the assembly point to post-sale customer service interactions.
Shopping patterns and consumer behaviour is already changing very rapidly. Retail shopping centres are under pressure; retail shops are under severe strain as we move to e-commerce and the next wave of c-commerce (Chat commerce).
The world of Artificial Intelligence and Machine learning is already here and the winners will be those organisations that make the best use of customer data. I had to visit a local clinic for some treatment on my back over the festive season holidays – and within a few hours, I was being targeted by companies on Facebook for multiple back treatment products and services. Artificial intelligence works with algorithms detecting consumer needs translating them into data that producers can leverage information from. However many retailers are finding it difficult to introduce secure payments technology that meet bank and industry standards while at the same time ensuring the customers have a seamless frictionless check out and payment experience.
Wizzit international is an example of innovative mobile banking and payment solutions catered for next-generation needs.