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Early Days: AI Shows Promise And Limitations For Retailers

PYMNTS

Hire a data scientist. Give said scientist(s) a budget to lease a Tensor Flo server with Google and start parsing transaction data. Use data to build an algorithm. Start creating more customer data to feed the algorithm and then you too can join the artificial intelligence (AI) retail revolution. This is easy.

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Clienteling Gives Retailers COVID-19 Interaction Options

PYMNTS

Clienteling — the practice of assigning retail sales associates to high value customers — is having a moment. According to Boston Retail Partners , 63 percent of retail personnel can’t identify customers prior to checkout. For retailers, LiveConnect delivers an effective and meaningful way to engage with their customers.

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Retail Personalization May Not Come Soon

PYMNTS

Retailers are scrambling to figure out the best ways to provide a more tailored and engaging experience. The study, which surveyed 500 retailers in North America and Canada, was conducted in November and December 2016. Welcome to the age of instant gratification.

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Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars

PYMNTS

And there’ll be quite a bit of tinkering with the technology (especially the infrastructure) and the use cases to get there. Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency.

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The Robots Are Coming – And Some Are Already Here

PYMNTS

Cars are getting technologically impressive, but they don’t fly as of yet. Well, there are lots of technological limitations in the field, and it turns out that consumers aren’t all that into robots anyway. Although they look kind of dog-like, they’re actually quadruped robots designed by Boston Dynamics and leased by Ford.

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Mobile Is On The Rise, But Still Not Where Retailers Would Like It

PYMNTS

Mobile is one of the fastest-growing retail sectors at the moment and still projects to grow for years to come, but the technology is still not where most retailers want it. percent of all retail sales for the year. Currently, smartphone users make up about 64 percent of the U.S. That’s an estimated $130.92

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AI/BOT: Is AI The Key To Retail’s Survival?

PYMNTS

Over the course of the last few years, eCommerce has sprung up and put the brick-and-mortar side of the retail industry on notice. It is also changing the retail game by eliminating the need for checkout stations through its artificial intelligence (AI) infused checkout system in its Amazon Go grocery store.

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