{"id":5548,"date":"2019-01-08T16:19:55","date_gmt":"2019-01-08T16:19:55","guid":{"rendered":"https:\/\/www.microsoft.com\/en-gb\/industry\/blog\/?p=5548"},"modified":"2019-01-08T16:20:20","modified_gmt":"2019-01-08T16:20:20","slug":"whats-ai-why-should-i-care","status":"publish","type":"post","link":"https:\/\/www.microsoft.com\/en-gb\/industry\/blog\/retail\/2019\/01\/08\/whats-ai-why-should-i-care\/","title":{"rendered":"What\u2019s that AI thing and why should I care?"},"content":{"rendered":"

AI isn’t new. In fact, whether you realise it or not, you’re already using it. Perhaps through your phone, reminding you of upcoming birthdays or it might be built into your car, keeping you out of traffic and accidents.\u00a0And now it could be helping your customers pick products they\u2019ll love.<\/p>\n

It\u2019s that AI thing you\u2019ve heard so much about. And you\u2019ve probably got more experience with it than you think.<\/p>\n

\"Photography<\/p>\n

Virtual assistants, email spam filters, and recommendations of what to buy next are all everyday examples of AI at work. Whilst they all serve very different functions in your life, these examples go a long way towards understanding exactly what that AI thing is \u2013 and what it\u2019s capable of.<\/p>\n

But it’s not just something to make your personal life easier. It has the potential to transform your retail business outcomes too, helping you create great customer experiences, enhance your teams’ productivity, and drive innovation. AI can learn from data to predict what happens next – imagine how this can help you solve some of your core business challenges.<\/p>\n

What can AI do for you?<\/h2>\n

\"IdentifyWhilst AI has the potential to help you achieve some really great things, it\u2019s important not to force AI into your business for the sake of it. You should first start by identifying the challenges that you’re looking to overcome and then look at how AI can help you address them.<\/p>\n

If you’re looking for some inspiration, here are some of the ways AI can bring value to your retail business:<\/p>\n

1. Engage customers with personalised retail experiences<\/h3>\n

That AI thing could be adding visual search to your online store. If a customer sees a celebrity wearing something they love, they can snap a photo, upload it to your site, and visual search will show them all the products you stock that match the look.<\/p>\n

\"Man<\/p>\n

2. Empower employees to provide outstanding customer service<\/h3>\n

53% of customers will ditch their online shopping basket if they can\u2019t find an answer to their question<\/a>. That AI thing could be a chatbot in the corner of your site, ready to help them decide if this purchase is exactly what they\u2019re looking for, or aid the returns process if it wasn\u2019t.<\/p>\n

3. Capitalise on data-driven insights to enhance revenue<\/h3>\n

You can only keep track of so many customers, products, and trends. That AI thing could be tracking the who, what, and why for you \u2013 so you can use the insight to make highly personalised recommendations, boost sales conversions, and cut cart abandonment.<\/p>\n

4. Learn from your data to open new revenue streams<\/h3>\n

You need to know your strategies are working \u2013 and what to change if they\u2019re not. That AI thing could take the data you\u2019re tracking and spot the patterns between the way you do business and the way your customers interact with your brand. So you can predict what\u2019s next, and be ready for it.<\/p>\n

Sounds good \u2013 but how do I fit that into my business?<\/h2>\n

Some of these examples might be as familiar as the virtual assistant in your phone or the spam filter in your inbox. You\u2019ll see AI apps like chatbots and smart recommendations at work in big etail brands. What might not be so familiar is the budget and expertise those brands have to work with. Those brands make AI look expensive. Complicated. Not right for you at all.<\/p>\n

But we\u2019re determined to show you that\u2019s not true.<\/p>\n

AI is for every business \u2013 of every size and every budget. With the right partner and know-how, that AI thing can be your<\/em> AI thing.<\/p>\n

Learn more<\/h2>\n

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AI is for every business. We look at its capabilities in retail, and the impact it can have on customer service, personalisation, and data insights.<\/p>\n","protected":false},"author":241,"featured_media":5641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"_classifai_error":"","footnotes":""},"categories":[145],"post_tag":[],"content-type":[],"coauthors":[24],"class_list":["post-5548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail"],"yoast_head":"\nWhat\u2019s that AI thing and why should I care? - Microsoft Industry Blogs - United Kingdom<\/title>\n<meta name=\"description\" content=\"AI is for every business. 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