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Future of Robotic Retail after COVID19

Future of Robotic Retail after COVID19

In post COVID times the already existed trend for the robotization of retail is going to be stronger and even more obvious. For instance, that statement is clearly underlined in the recent webinar of Silicon Valley Robotics: Robots in retail: A Simbe Robotics Inc. Tally shelf-scanning robot at a Decathlon store. What Simbe and Venrock learned from store operators was that there are plenty of essential retail tasks that humans are not very good at, and that store operators would rather not pay people to do. svrobo.org   This webinar (venture investors and academics representatives) determines the next characteristics for...

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Five Strategies Shaping The Future Of Retail

Five Strategies Shaping The Future Of Retail

Here are 5 strategies retailers must consider to future-proof their success: 1. Attract customers with in-store experiences Did you know that Nike’s New York store now offers customers an in-store basketball court? As customers play, cameras analyse their footwork and generate shoe recommendations. By investing in such innovative, engaging experiences, retailers can maintain their bricks and mortar premises and compete with on-line businesses. 2. Enhance assortment planning with AI If retailers could know exactly what their customers wanted then marketing and inventory management would be minimised, allowing retailers to invest in an engaging shopping experience. This will of course be specific to...

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How Artificial Intelligence (AI) will Change the Retail Industry

How Artificial Intelligence (AI) will Change the Retail Industry

Artificial Intelligence is the hottest and most promising development in the tech landscape for a couple of years, now. According to the market firm Tractica, global AI revenues will see a massive growth from just USD 643.7 million in 2016 to an excess of USD 36.8 billion in 2025. In conjunction with IOT developments, many market segments, industries, and businesses are actively interested in AI and are seeking to engage with this technology for business benefits and in the retail sector to re-engage with customers. AI offers companies the power to reduce costs and make the shopping experience much more...

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Evolution of Robots

Evolution of Robots

In 320 BC, Greek philosopher Aristotle made this famous quote: “If every tool, when ordered, or even of its own accord, could do the work that befits it... then there would be no need either of apprentices for the master workers or of slaves for the lords.” Since that time humankind has progressively developed concepts that have advanced the field of robotics.  Science fiction writers and movie makers have pushed the expectations of robot functionality beyond the capabilities of the day. It is now more than 7 decades since Isaac Asimov proposed the 3 basic laws of robotics. Since then...

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Functional and human-interacting robots

Functional and human-interacting robots

Functional robots are designed to carry out specific functions according to the algorithms developed in their software. Functionality is therefore prescribed according to a set of commands that give the robot specificity in respect of the task. This may involve a human to direct the robot (such as medical robots that can perform tasks with great precision under the command of a surgeon).  In industry functional robots are tasked to perform repetitious tasks on a 24/7 basis. These have replaced humans to enable not only lower labour costs but importantly can maintain precision continuously without fatigue that in humans often...

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Retail Modernisation

Retail Modernisation

Five Ways Retail Robots Are Disrupting the Industry (Kayla Matthews is a technology journalist and robotics writer) While not yet a commonplace sight, retail robots are starting to conduct many tasks to help stores manage inventory, address worker shortages, and extend operations. Most people are aware of the robots that are involved with assembling, packing, or handling items before they reach retail stores. Now, some retail robots are starting to change how human employees work and shoppers purchase goods in stores. Here are some tasks that retail robots are conducting and where consumers can see them in daily life. Retail...

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