A recent article in Winsight Grocery Business looked at how groceries can imagine the future with AI.
Imagine a world in which you know exactly how many employees you need for a shift. Imagine knowing the best products to discount. Imagine a supply chain that delivered the ideal amount of goods at the perfect time. It sounds high-tech and futuristic, but this future is here.
What’s behind these marvels is what will soon be behind every successful grocery store. It already is if you think of names such as Amazon, Walmart, and Kroger. It’s artificial intelligence or AI, so get prepared if you want to compete with the big guys.
Artificial intelligence is a combination of algorithmic retailing, deep learning and machine learning. It’s computer programs that learn from experience—like a human does, at least ostensibly—and uses that to get better at what it does. For example, AI analyzes results and learns, and takes that and makes predictions and decisions for the future. What’s key is AI does things humans aren’t capable of—such as analyzing enormous amounts of data—freeing up humans to do what they’re best at, such as negotiating with vendors.
The article featured several quotes from Daisy's CEO, Gary Saarvenvirta, including this one:
“Our system delivers the final decision to the retailer on three fundamental questions,” says Gary Saarenvirta, Daisy’s founder and CEO, which are: Which products should I promote? What prices should I charge? What inventory should I have in-store?
