What do retail store cameras have to do with your data career trajectory? A LOT, it come to find out!
You know those cameras that retailers all across their stores? Well, the most innovative stores are using those cameras as a data source for object detection, and then integrating object / image detection AI technology into their inventory management systems!
Yes, I am serious. I mean, why wouldn’t they?
Integrating object / image detection AI technology into inventory management systems offers A LOT of benefits.
From a data management perspective, it facilitates the seamless flow of visual data into existing data systems and analytics tools. it enables a richer, more comprehensive analysis of inventory levels, trends, and patterns.
But from a business perspective, retailers that deploy this practice are known to significantly reduce the incidence of stockouts and overstock, while also minimizing waste and optimizing supply chain operations. Furthermore, the ability to analyze inventory data in real-time allows for more agile decision-making and provides businesses a competitive edge.
While the business benefits are manifold, for data professionals, the mastery of these types of technologies offers new career paths and significantly increases the value of your skillset in an increasingly data-centric business world.
In today’s blog post, I want to share an interesting success case of this type of technology in-action and then provide you access to a free live training where you can go to quickly get trained on inventory management using object /image detection AI.
An IRL example of using image recognition AI to deliver real-time in-store execution
In the retail analytics sector, companies like Infilect have leveraged image recognition AI to deliver real-time in-store execution insights to achieve more than 97% accuracy in real-time shelf metrics and stock level reporting for CPG manufacturers, distributors, and retailers. This technology streamlines stock tracking and planogram compliance, while also significantly improving self-checkout processes and assisting visually impaired customers in navigating retail environments more independently.
The implementation of this technology has demonstrated a tangible business impact for Infilect clients. Some wins they’ve achieved include:
- A 2%-5% lift in same-store sales
- Savings of over 25 million minutes in store audits, and
- A substantial influence on trade payouts, amounting to $10 million.
By automating stock tracking and improving planogram compliance, retailers can now rely on more accurate data for their business processes, thereby reducing manual auditing errors, enhancing the checkout experience, detecting counterfeit products, and ultimately, boosting customer loyalty through reduced wait times.
But, this blog is not about Infilect and its product. This email is about you and how I can help you get ahead in your data career.
If you’re working on data projects in any type of executional capacity, then you know just how important it is for you to stay trained on the latest techniques. Sometimes it’s hard to find learning resources on really specific topics though (especially topics like Inventory Management Using Object / Image Detection AI).
That’s why I am really grateful that my partner SingleStore has taken the bull by the horns and is stepping forward to provide you with this free live training on this exact topic!
TRAINING INVITE: Inventory Management with Image Detection AI Technologies
In the fast-evolving landscape of data and AI technologies, staying ahead on innovative techniques is an important action you can take to future-proof your career and relevancy.
We invite you to a very unique, on-demand training that will change how you think about image detection AI technologies and retail inventory management.
In this session, you’ll dive deep into the transformative power of AI in image detection technologies. These advancements are reshaping the very fabric of inventory management systems.
- Learn about the fundamentals of AI and machine learning and their application in inventory management.
- Experience a live demonstration showcasing AI tools for real-time inventory tracking.
- Develop know-how on implementing AI-driven systems to optimize efficiency and significantly reduce operational costs, with accuracy improvements of up to 98%.
- Gain insights into demand forecasting using AI, thus enabling better supply chain decisions.
This training is an indispensable resource for professionals in data application development and analytics. Join us as we explore the latest trends, practical applications, and share codes to kickstart your journey.
I hope to see you there!
This post is brought to you as part of a long-term partnership with SingleStore!
Pro-tip: If you like this training on AI implementation in business, consider checking out other free AI app development trainings we are offering here, here, here, here, here, here, here, here, here, here, here, here, here, here,here, and here.