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Retail is adopting AI

Every year, retailers lose close to $1 trillion in sales due to out-of-stock events. AI helps to reduce those losses by helping retailers optimize their business practices.

Common challenges in retail:

  • Stock-outs
  • Sensing demand
  • Gaining insight into consumer behaviors

New Product Demand Forecasting

Upgrades to AI-generated demand forecasts based on historical transactions, product attributes, and store demographics translate to increases in revenue.

Smart Inventory

In a fast-moving market, AI-powered sales predictions reduce instances of stock-outs and excess inventory.

Dynamic Pricing

Around-the-clock updates in demand shifts, optimal prices, and promotion strategies increase profit margins.

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