Karen Rhodes - Account Chief Technologist for Retail, HPE
Anand Muralidaran - Global Strategy and Business Development for Retail, NVIDIA
The retail industry is changing rapidly as companies flood the market with new products while trying to manage shifting behaviors, escalating consumer demands, shrinking margins, and huge amounts of data.
Innovative retailers are tapping into artificial intelligence (AI) to take on these challenges. AI delivers real-time insights from troves of consumer and operational data that can help retailers improve and optimize how they work. AI-enabled retail environments offer clear advantages by:
- Enhancing end-to-end operations with real-time speed, predictability, and accuracy
- Utilizing data in the store, where it is created
- Leveraging faster intelligence to solve multiple problems in a unified model
- Securing regionalized retail IT at scale and under budget
Operating smarter and faster with AI
Retailers are unlocking greater business value with critical AI use cases. These benefits can be seen across intelligent stores, omnichannel management, and supply chains.
Intelligent stores employ AI to gain deeper visibility into store operations and consumer behaviors. Data generated from point-of-sale transactions, cameras, and sensors offer rich insights to enhance the shopping experienceโfor customized shopping experiences, merchandise velocity trend analysis, and real-time employee alerts for stock-out, misplaced, or damaged items. AI leverages this data to determine consumer needs and buying preferences, deliver revenue-driving online and in-aisle promotions, and provide autonomous shopping options like mobile checkout, AI-enabled carts, smart cabinets, nano, and fully autonomous stores.
RadiusAI offers comprehensive technologies for accelerating retail analytics to help retailers better understand consumer needs and provide efficient customer service to improve brand loyalty. With exceptional computer performance provided by HPE in collaboration with NVIDIA, RadiusAI software converts existing video footage into actionable insights, allowing employees to make swift, data-driven decisions and solve in-store problems immediately. Hewlett Packard Enterprise, in collaboration with NVIDIA, is utilizing AI capabilities combined with software from Sensei to create autonomous stores without checkouts, cashiers, or physical payment for goods.
Fraud detection is helping to protect retail profits. Applications such as video analytics accurately and efficiently increase asset protection and reduce shrinkage by preventing issues like ticket switching, mis-scanning, return fraud, and employee theft. With increased visibility at points-of-sale and in-aisle, retailers can reduce shoplifting and other types of loss in real time.
Everseen offers visual AI solutions to transform how retailers see and solve problems. Built on top of robust HPE systems with NVIDIA GPUs, Everseen software rapidly identifies at-register theft with real-time video feedback, which solves the problem autonomously with the customer or alerts staff to intervene if necessary.
Conversational AI can improve consumer satisfaction and achieve a better customer experience. Applications such as virtual assistants, digital avatars, and chatbots are bridging the gap between humans and computers, using natural language processing and machine learning (ML) for language understanding and speech analysis. In call centers, AI-enabled chatbots are used to answer frequently asked questions and automate routine tasks, so agents can focus on consumers that require hands-on assistance.
More retailers are utilizing recommendation systems and visual search features to drive increased sales. Real-time recommendations and augmented reality create highly tailored experiences and can offer features like personalized promotions to deliver live shopping suggestions that can expand cart sizes with opportunities for upselling and cross-selling. AI recommenders across different channels account for as much as 30% of revenue, which translates into billions of dollars in sales.
To deliver exceptional omnichannel experiences, many online retailers are deploying their own account/payment systems. Online retail is a vast and fast-growing marketplace that demands seamless shopping and convenient checkout methods. Using traditional banks for account management and payments can limit the options provided to online consumers. Moving to the cloud enables payment platforms to accommodate business growth while remaining compliant with industry payment standards
Intelligent supply chain optimization can reduce operational costs by up to 60% where every minute of downtime can cost upwards of $3,000-$5,000. Retailers use a combination of AI, predictive analytics, video analytics, and robotics to improve throughput and ensure that quality products are delivered to consumers as efficiently as possible. Greater insight and visibility streamline the product journey from demand forecasting, inventory management, and warehouse logistics to routing optimization.
Powering your AI transformation
HPE, with NVIDIA and our expansive partner ecosystem, is empowering retailers to gain deep insights faster and boost profits with optimized AI solutions built specifically for them. AI is the key to unlocking new insights and opportunities, which is why we offer a comprehensive platform that accelerates insight, action, and impact.
The AI Platform for Retail from HPE is powered by NVIDIA and combines proven and emerging AI solutions, including all the tools and capabilities to make AI work for your business. Our goal is to make innovation faster and simpler, and we believe all retailers can use deep insights to gain a competitive edge.
NVIDIA AI Enterprise, the software layer of the NVIDIA AI platform, offers 100+ frameworks, pretrained models, development tools, security, and API stability to accelerate data science and to streamline development and deployment of production AI for retail AI use cases, including generative AI, computer vision, recommendation systems, speech AI, and digital twin simulation. NVIDIA AI Enterprise is certified to run on HPE AI platforms, enabling rapid model training and inference in edge and near-edge environments. Its extensive catalog of cloud-native software helps enterprises ramp up the building and deployment of AI models, so retailers can innovate quickly and focus on gaining insights faster to drive action and return on investment.
You can learn more about the HPE and NVIDIA solutions for retail by visiting the HPE ProLiant Gen11 for AI product page.
Learn more with our AI Platform for Retail solutions overview. Let HPE, powered by NVIDIA, help you prepare for the future of retail. Contact us today.
Karen Rhodes is an Account Chief Technologist for HPE who specializes in providing direction to global retail business leaders on emerging technologies. This includes cybersecurity, loss prevention, and AI/ML/DL for supply chain optimization and omnichannel enablement initiatives. She guides technical specialists and various business units within HPE and is responsible for diversifying HPE business within retail customers by focusing on financial and business outcomes.
Anand is the Global Business Development Head for Retail at NVIDIA and brings 25 years of valuable experience consulting, partnering, and delivering strategic and transformative value to F1000 Retailers across the globe. He has had the privilege of working across a variety of retailers from Walmart, Target, and Petco to Best Buy, Williams Sonoma, Sephora, and many others.
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