The AI advantage for retailers – podcast
05th July 2024
Jason Souloglou joins Richard Wray on the AI Advantage Show podcast
Key moments:
- Challenges of Real-World AI: Applying artificial intelligence (AI) and computer vision in real-world scenarios isn’t as simple as flipping a switch. The real world is messy and unpredictable, leading to “false positives” where the system misinterprets something. A significant amount of work goes into training the AI to handle these complexities.
- Building Blocks of Understanding: To make sense of the visual chaos, AI breaks down scenarios into smaller, more manageable components. These “building blocks” can be objects, the relationships between them, and their attributes. This allows the AI to develop a more nuanced understanding of what’s happening.
- Retail Revolution: One area where AI vision shines is retail. Imagine self-checkouts that work flawlessly, or systems that discreetly deter theft while boosting staff efficiency. This technology offers exciting possibilities for retailers.
- Gentle Guidance, Not Accusations: AI can help create a more positive customer experience. Instead of directly accusing someone of shoplifting, the system might use gentle prompts or nudges to address suspicious behavior. This reduces confrontation and maintains an assumption of innocence.
- Beyond Retail Applications: The potential of AI vision extends far beyond retail. Imagine prison environments where the technology helps anticipate and prevent violence. The applications are vast.
- A Human-Centric Approach: Developing effective AI models requires collaboration and a focus on people, not just profits. It’s crucial to consider the social implications, such as recognizing when shoplifting might be driven by need rather than greed.
- Investing in the Future: For retailers, the return on investment (ROI) for AI vision can be seen within just six months, depending on the functionalities implemented. It’s a win-win situation.
- Balancing Business and Humanity: The key lies in striking a balance between business needs and the betterment of humanity. It’s achievable, but requires a conscious effort to ensure AI serves us, not the other way around.
Watch or listen to the full podcast episode here: The AI Advantage Show featuring Jason Souloglou and the AI Advantage for Retailers
