You might think that Artificial Intelligence (AI) is the stuff of science fiction or, at the very least, a long way off in the future and with very little to do with today’s retail landscape. You’d be totally wrong. Although still in its infancy, AI is a very real and current technology and it is already being used by incredibly smart retailers to help them sell more products and generate more significant returns.
According to a recent article in The Telegraph a number of big names, online brands, including Amazon, Very.co.uk and Just Eat, are already harnessing the power of AI to improve their customers’ experience and drive sales.
But AI isn’t just a technology employed by the big boys with a budget to spend on research and development. In fact, thanks to SKU Cloud, it’s available to online retailers of any shape and size – for free.
At SKU Cloud/Flubit, we’ve been employing Artificial Intelligence on your behalf for some time now.
We currently use AI to help manage the following three processes:
- Dynamic pricing: This helps us to create the private offer price customers receive after conducting a search on Flubit.com.
- Product Matching: This helps us find and match the right product in our database of millions of SKUs from an Amazon link when a customer conducts a search on Flubit.
- Product Clustering: This helps us sort data from our 1,500+ merchants and group the same products from various sellers together for distribution to the SKU Cloud retail partner network.
This use of AI is undoubtedly (thank goodness) a long way away from the dystopian images science fiction paints of the technology (think HAL in 2001: A Space Odyssey ) – but we couldn’t do our job without it. Think of the man hours it would take to process all this information alone.
Remember: Our job at SKU Cloud is simple – we help sellers sell and buyers buy.
If you want to learn more about how SKU Cloud is investing in smarter retail technology and driving efficiencies across the entire online retail process get in touch today.