I remember the time when my ex-colleague gave a talk on BI/DW during the year 2000. He was talking about how retail companies are making use of it etc. He quoted an example: How retail outlets are placing nappies & beer bottles next to each other to see the sales soar on Friday evenings. He talked about how shoppers are saving time & reminded of some items (nappies).
He also spoke about how Amazon was using tech to recommend products to buyers then. “People who bought this item also bought……”.
We have come a long way. Let’s talk about saving time.
Enter “Amazon Go”.
A checkout-free store. What? Yes, there’s no checkout. You can just steal the items from the store. 🙂 Jus’ kidding. You pick up the items and walk through exit where your account will be debited for the products in your cart or bag.
Tech used: computer vision, sensor fusion & deep learning, much like self driving cars.
Amazon calls it “Just walk out technology”.
When you’re done shopping, you can just leave the store. Your amazon account will be debited & you’ll be sent a receipt.
If buyers get accustomed to this tech, they might be booked for shoplifting when they go to other stores that do not use such hightech & they walkout without billing. 🙂
#retailtech #innovation #technology
Soon customers will be able to pay for their Coffee using Bitcoin or a fraction of that, of-course. It’s official. Starbucks is teaming up with Microsoft and New York Stock Exchange to let customers pay using their bitcoins to buy the items in stores.
CNN Reported this hot news just now.
What it tells us is this: Brands like to give customers a great experience and some brands take the lead. Customer Experience is the new Currency. Not Bitcoin. Strange yet true.
CEOs, savvy ones, see the world through their customer’s eyes, says McKinsey. And they create great customer experience during the entire customer journey and not just at all touch points alone.
Today, companies are armed with data and insights from that data. Companies can change their processes to adapt to what Customers want. And they remove the pain points.
Customer Perception matters. Companies work on it to make it work for them.
Great Customer Experience means not having a single bad experience. Period.
I have always had great Customer Experience with a particular brand. Their attitude in customer service is phenomenal.
It’s a world where monopolies don’t exist anymore and customers wield a growing power in their hands.
Are you listening?
Offer Great Experience to your customers. No matter how small or big they are.
It is a significant part of Machine Learning. And it tries to mimic human brain in a sense. There have been many failures as well as successes.
Speech Recognition & Image Recognition are huge successes.
It is a promising subject and opportunities are growing. It can probably predict medical problems or traffic bottlenecks on the road.
Ray Curzweil [Author of “How to create a mind”] is leading the initiative at Google and likewise Microsoft is also making progress in Deep Learning.
May be, some time in future, the AI System will be able to answer that dumb question: where do you find yourself 5 years from now?
The possibilities are endless. Exciting and Scary, at the same time.
Read this long & old [I am sure it must be few years, say 2013] but very interesting Technology Paper [before Google came out with Tensor Flow] from MIT: