AI, Deep learning and IoT devices are increasingly being used within companies to improve their performance and increase revenues. For example, retailers are now able to automate processes while optimizing time and increasing productivity.
In this article we will briefly look at how Sales and Marketing have changed the way they do things thanks to the introduction of deep learning and AI.
Computer vision refers to the phenomenon in which computers are “trained” to understand and comprehend the real world. This is done through specific models of AI, able to combine images from cameras with deep learning.
In this way, the device literally learns how to scan and identify a specific object. In addition to this, they can also identify people, such as intruders or other types of individuals. This is possible by submitting computers to a huge amount of information, so that they do their own calculations and learn, over time, to come up with solutions.
This makes it possible, for example, to identify and find very accurate information about sales, who has made one or more purchases, how many times that person has purchased, and a whole range of useful data to increase revenues.
On the other hand, knowing the behavior and preferences of your customers is one of the key elements for the success of your business. In the same way, food companies can monitor waste, expenses and find potential solutions to save money and raw materials, while also safeguarding the planet.
AI in retail
As previously mentioned, AI and deep learning are often used in the retail world to automate processes and gain valuable data. Indeed, users can access to:
- Customer demographic profile information
- Purchase-related behavior (when, where, what)
- Purchase preferences
- Periods of purchase and average purchase
All of this can be cross-referenced through computer vision to create truly efficient marketing strategies and campaigns. In addition, large retailers are also often able to embed AI in their stores to know when to fill their shelves and how to organize them.
In a nutshell, a huge advantage to further increase sales.
What’s the value of IoT?
According to various research in the industry such as that done by Markets and Markets a few years ago, the total value of IoT could exceed $35 billion by 2025. Just know that in 2020 alone, this sector was worth $14.5 billion, and as of today it is worth about $30 billion.
So, the projected $35 billion could literally be smashed, with some research predicting an uptick to over $60 billion by 2026. In short, the IoT sector is unquestionably one of the most important in today’s market, and it doesn’t seem to want to stop growing.
Needless to say, the IoT market, along with that of digital transformation, is one of the most important of the modern era, able to provide valuable tools for all entrepreneurs.
It’s no coincidence that there are many companies that implement deep learning tools combined with artificial intelligence, such as the government of the United Arab Emirates.