The 10 Most Recommended Retail Solution Providers in 2019 [ Business Magazine ]

India r e t a i l
revolution
Relevance of brick-mortar stores in Industry 4.0
The 4th Industrial revolution (Industry 4.0) is the age of artificial intelligence (AI), robotics, automation,
and biotechnology. The idea is to use machine learning algorithms to train machines or computers, to
mimic human learning in certain tasks. In some cases, even more effectively than a human, creating
machines with context-specific intelligence. Industry 4.0 is built on the foundation of the previous information
and digital age which has generated large scale datasets. The ultimate goal of AI is to analyze this data, to create
intelligent machines with a certain level of perception, cognition and intuition to mimic human-like functioning
in some jobs. We can derive actionable insights that can significantly improve the business, reduce inefficiency,
and uncover hidden patterns, personalized solution. Some examples of this perception intelligent machine
include voice recognition tools like Alexa, and Siri and facial recognition tool in iPhone X series phones.
Examples of cognition intelligent machines include Google’s partnership with US DOD to make smarter drones
for surveillance and defence, Tesla’s foray into autonomous vehicles, IBM Watson and Lantern Pharma are
leveraging AI technology for mapping right cancer drugs to the right cancer patients using a genetic signature
with a very high predictive accuracy. One such example for the intuitive machines is India based Intuition
Systems’ POS. Intuition is an award-winning POS and business management technology group in India with a
core foundation of data, AI, robotics, software, hardware technologies. Intuition was founded in 2012 when Asai
brothers couldn’t find a modern easy to use affordable POS system for their previous restaurant businesses. The
complexity, data, security aspects of the business naturally took Intuition towards integrating machine learning,
automation and intuitive user experience in their POS software and hardware.
Data-Driven Retail Industry 4.0
As Industry 4.0 unfolds, the retail sector will have a tremendous impact. Every part of shopper journey is
digitized and has evolved into customer-centric. Some of the advantages of retail Industry 4.0 include better
digital payments, instant loan approvals for customers and retailers, RFIDs, connected stores, actionable insights
driven by data and deep learning, biometric security, interactive interface, seamless workflow, automation and
integration, smart warehouses, personalized customer experience (PCE). Amazon and Alibaba are leading this
retail revolution globally in e-commerce. For example, the new Amazon GO is an example of cashier less
connected stores leveraging AI, computer vision and RFIDs. Amazon Go is generating volumes of big data
tracking every customer movement as soon as the customer enters the store translating that into actionable
28 FEBRUARY 2019