Tuesday, May 28, 2024

Artificial intelligence is everywhere: the biggest retail technology news stories of the week — Retail Technology Innovation Hub

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6. Rithum tapped by B&Q to drive e-commerce growth by cutting time it takes for brands to list new products

Rithum has been appointed by UK home improvement retailer, B&Q, to support its online marketplace expansion by reducing the time it takes for brands to be onboarded to its website.

Philip Hall, Managing Director for EMEA at Rithum, says: “Consumers are more often than not shopping around for the best price, and even traditionally bricks and mortar sectors are becoming more present online.”

“Home improvement became a big focus during lockdown and being able to bring new products online quickly and efficiently will be essential to success as trends evolve.”

“Our collaboration will mean B&Q can easily expand its inventory catalogue and strengthen customer and supplier relations.”

“Tools like automated SKU conversion, product discovery, and supplier and product performance insights give them the flexibility to launch and manage any partnership model. All essential factors in helping to support growth.”

7. Retail Technology Show 2024 review: retailer panel discusses how to increase competitive advantage

“AI is everywhere,” said John Bates, Technology Director at Morrisons at Retail Technology Show (RTS) 2024 in London this week. Fellow panellists from B&Q, Deliveroo and Morleys Department Store certainly agreed, as they laid out how to use it for competitive advantage.

Bates discussed AI’s use in the supply chain and on store replenishment, where linked cameras can identify gaps and feed a visual and data AI model to get product back on shelves quickly.

“We use it for demand forecasting and have lots of Proof of Concept (PoCs) at the moment,” he commented.

“I’m interested in using AI to fill in meta data blanks via the ChatGPT application at present,” said Paul Wilkinson, Product Director at Deliveroo, while pointing out that AI had built and enabled the company’s business.

“There wouldn’t be a Deliveroo without AI. Without it, we couldn’t organise all our riders, shops, pick-ups and so on. There would be too many inputs and too much data to handle without AI helping us.”   

8. Store workforce scheduling firm Orquest named winner of Retail Technology Show 2024 Innovation Awards

Artificial intelligence driven in-store workforce scheduling solution, Orquest, has been announced as the winner of the 2024 Innovation Awards by Retail Technology Show 2024.

Announced at the BIG Retail Party at the end of day one, Orquest was chosen from a shortlist of ten companies also selected as finalists as part of the 2024 Innovation Awards programme, which champions best-in-class technologies and solutions.

Each year, the RTS Innovation Awards seek out the foremost examples of future forward innovation from across the RTS show floor, selecting those disruptive technologies that that can transform retailers’ operations – from building sustainable retailing practices, to next-generation in-store solutions and new retail formats. 

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