How Artificial Intelligence Changes Trade
Whether it's finding products on the market faster, offering customers personalized offers or optimizing logistics - the use of artificial intelligence is becoming increasingly relevant for the future of retail. This was the focus of the Digital Day organized by HDE in cooperation with MediaMarktSaturn. In the start-up accelerator Retailtech Hub, start-ups presented their ideas that will determine the trade of the future.
Innovations play a major role at MediaMarktSaturn. The company actively searches nationally and internationally for new trends and ideas to make the customer experience even more individual. The use of artificial intelligence is currently an important topic. MediaMarktSaturn therefore organized the Digital Day together with the German Retail Association HDE in order to bring together decision-makers and innovation drivers from the retail sector on this topic. Among others, representatives of Google and Alibaba were guests.
The progress in the field of artificial intelligence is enormous. While in 2014 automatic face recognition was still the great revolution, today artificial intelligence can understand texts better than humans and even convince in debates. This was shown by an experiment by IBM, in which a machine competed against a human being.
This tremendous development is not by chance: cheap use, more accurate results and government and business investment are driving forces for artificial intelligence development. Dr. Andrea Cornelius of the consulting firm elaboratum Managing Partner explained this at Digital Day.
After all, what is expected of artificial intelligence (AI) is enormous. This was emphasized by Frank Rehme of Mittelstand 4.0-Kompetenzzentrum Handel. For example, AI can make a better life possible by replacing monotonous work with automation. And artificial intelligence can even save lives - for example, if you think of autonomous driving or predicting disease waves.
However, AI also offers great opportunities for the retail sector. This ranges from information and advice to dynamic pricing and improvements in disposition and logistics. The end result is usually more satisfied customers, sales increases and cost savings.