|Google is now transforming the way of shopping on retail by launching the new Cloud on Retail system / Photo by: Alexas-Fotos via Pixabay|
Google is set to launch its Cloud for Retail initiative, the tech giant said on Wednesday, as its contribution to the growing movement of digital transformation in retail.
TechRepublic reports that initiatives in a digital transformation in retail have seen a boost in recent years—between augmented reality (AR) tech in makeup stores, automated pickup stations, and improving customer experience with the use of mobile device data.
In fact, a recent Oxford Economics report shows 72 percent of executives believe artificial intelligence (AI) technology is a "competitive necessity" in today's retail. Because of this, Google is set to introduce seven new retail solutions to the digital ecosystem with both AI and data analytics.
According to TechRepublic, all of the tech giant's solutions are based on six core pillars, namely logistics, fulfillment, and delivery; acquisition and retention of customers; store operations; omnichannel commerce; merchandising and assortment; and management of product life cycle.
Below is the outline of Google's solutions, as well as the purposes and use case for each one:
1. Visual Product Search - through the integration of Google Lens-type capabilities, this solution enables retailers to create new mobile experiences. For instance, IKEA is exploiting this to allow customers to snap a photo of a household item and easily find the product or a similar one in its online catalog.
2. Recommendations AI - comes up and delivers personalized product recommendations at a scale appropriate for each customer's preference across all touch points.
3. Contact Center AI (in beta) - this solution supports retailers in constructing modern customer care experiences.
4. AutoML Tables (in beta) - helps retailers to improve the prediction of customer demand by automatically developing and deploying high-end machine learning (ML) models. It can also provide insights that retailers need to preemptively complete their portfolios, as well as optimize product distribution, promotions, and pricing.
5. eCommerce Hosting - this gives both flexibility and scalability to support brands in quickly adjusting to demands on the market regardless of the channel.
6. Real-Time Inventory Management and Analytics - gives visibility on inventory across shelves, aisles, and stockrooms.
7. Empowered Associates - puts together the collaborative capacity of G Suite with the social intranet abilities from partners of Google Cloud in organizing, engaging, and informing every individual in the company.