Artificial Intelligence for Retail
Principal Investigator
Prof. Vaibhav Chawla
Objective
- To build an AI integrated recommender system for Retailers with multi language functionality which can be used to augment customer retention and offer small scale retailers reliable marketing metrics.
Description
- Build an app or chatbot that takes as input the needs and requirements, capabilities, and expertise of the retailers and develop a repository of available software and recommends software that would best suit the needs and the expertise level of the retailers, Build an AI based inventory management app that takes in historical sales data and customer preference data and suggests stocking up on inventory based on different parameters, The platform gives alerts on deadlines to stock up products, upcoming expiry dates, potential sale opportunities etc., Give customised recommendations to customers based on their previous purchases, Provide AI based loyalty programs - Offer discounts and loyalty benefits to frequent purchasers
Impact
- The collaborative inventory management app (Dealshare) can encourage cooperation instead of competition by suggesting retailers to buy from other retailers with a surplus for a lower cost, thereby reducing and benefiting both the parties, Enhance business growth by onboarding the software companies for a small fee., Provide tutorial videos and details of service centres in regional languages to benefit the retailers.