Automation, Digitalization and Robotics
Ex. 1: Before watching the video, make sure you know what the following concepts mean. Match them with a suitable definition from the list below:
- machine learning
- computer vision
- AI (artificial intelligence)
- deep-learning algorithms
- sensor fusion
Ex. 3: Reading comprehension “Amazon opens a supermarket with no checkouts”
https://www.bbc.com/news/business-42769096
Ex. 4: Watch the video on the British online retailer Ocado and its fully automated warehouses.
Ex. 5: How are next generation technologies changing the retail industry?
Next-generation technologies are fundamentally reshaping the retail industry by enhancing customer experiences, optimizing operations, and driving new business models. Key areas of transformation include personalized customer experiences, workforce automation, and the integration of AI and automation into various retail processes. By embracing these next-generation technologies, retailers can create more engaging customer experiences, optimize their operations, and drive growth in a rapidly evolving retail landscape.
Personalized Customer Experiences:
AI and Machine Learning: Retailers are leveraging AI to analyze customer data, understand preferences, and deliver tailored product recommendations, personalized promotions, and targeted marketing campaigns.
Virtual and Augmented Reality (VR/AR) technologies enable virtual try-ons, allowing customers to visualize products like clothing or furniture in their own space, enhancing the online shopping experience.
Smart Shelves and Inventory Management: Smart shelves equipped with sensors and RFID technology provide real-time data on product availability, pricing, and customer behavior, improving inventory management and enabling dynamic pricing strategies.
Personalized Interactions: Biometric recognition and AI-powered systems can personalize in-store experiences by recognizing shoppers and adapting product displays, pricing, and service accordingly.
Workforce Automation:
Wearable Technology: Retailers are using wearable devices like ring scanners and RFID-enabled tools to streamline inventory management, improve product location, and optimize stock management.
Voice Recognition Technology: Voice-activated systems can assist with tasks like product lookup, order fulfillment, and customer service, improving efficiency and freeing up staff for customer interaction.
Automated Warehouses: Robots and drones are increasingly used in warehouses for sorting, packing, and shipping products, accelerating order fulfillment and delivery times.
AI and Automation in Operations:
AI-powered Chatbots: AI-powered chatbots are replacing traditional customer service call centers, providing instant support, answering queries, and offering product recommendations.
Optimized Store Layouts: AI algorithms can analyze shopping patterns to optimize store layouts and product placements, improving the overall shopping experience and boosting sales.
Supply Chain Optimization: AI and automation are transforming supply chain management, enabling retailers to predict demand, optimize inventory levels, and streamline logistics.
Predictive Analytics: Retailers can use predictive analytics to forecast demand, manage inventory effectively, and prevent stockouts, ensuring product availability and minimizing waste.
Unified Commerce Platforms:
Integration of Sales Channels: Retailers are adopting unified commerce platforms that integrate online, mobile, and in-store touchpoints, providing a seamless omnichannel experience for customers.
Data-Driven Decision Making: These platforms enable retailers to collect and analyze data from all channels, providing valuable insights for making informed business decisions.
Ex. 6: Discuss the consequences of automation based on the information contained in the charts.[1]