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AI-powered technologies have been implemented in the retail sector for long decades, but a truly innovative robotics era is yet to come. From vending machines to a robot barista serving drinks, the use of automation devices corresponds to fast-changing market demands and aims to enhance customer experience and improve a companys performance (Baird, 2017). Despite some negative aspects of robotics in retail, advantages prevail, and most retailers could benefit from using new strategies.
I believe that robots could enhance the overall store experience for customers by modernizing shops and offering interoperability, autonomy, and mobility. Collecting and analyzing data, managing inventory, optimizing logistics, delivering goods, detecting issues, and offering customized products are only a few functions AI-powered technology can fulfill (OBrien, 2020). Even though any retail business could benefit from robotics, even small corner stores, some types of retailers are better suited for this: large chains, corporations, and tech giants, like Amazon, Target, or Walmart (Baird, 2017). For fast-paced stores, automatization is essential to transform their service and reach the highest performance.
A comprehensive approach can help retailers apply the new strategy effectively and make it work. However, there are potential drawbacks of robots in retail, and the most major one is cost. According to Iflexion (2019), the initial price of new software can discourage some businesses from implementing it. Besides, risks of data violation and leakage, job losses, and maintenance expenses are significant challenges of technology use. Nevertheless, I find the strategy of implementing AI in retail promising and positive since it would boost performance and free people from mundane, repetitive, and hard physical work. I think that for some other retailers, for instance, Costco, machine-learning solutions would also work since the company operates warehouse stores and deals with the high workload for employees.
To sum up, the benefits and potential pitfalls of using technology and robots in retail should be considered when analyzing the issue. In the modern world of fast growth and intense competition, companies need to adjust their strategies to maintain customers favor and employees satisfaction. It can be concluded that machine-learning solutions can be advantageous for all kinds of businesses, but large corporations could significantly benefit from innovative technologies.
References
Baird, N. (2017). Robots will be in retail stores sooner than you think. Forbes Magazine. Web.
Iflexion. (2019). AI and robotics in retail: Drivers, impact, and challenges. Medium.
OBrien, E. (2020). Robotics in retail key to industry, market transformation. Robotics Business Review.
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