Artificial Intelligence (AI) has emerged as a game-changer in various industries, and the retail sector is no exception. With its ability to analyse vast amounts of data and make intelligent predictions, AI is revolutionizing the retail purchasing journey, transforming the way consumers shop and businesses operate.
What does AI mean?
Artificial intelligence, or AI, refers to the emulation of human intelligence processes by machines, particularly computer systems, for the execution of complex tasks such as learning, logical reasoning, and self-correction. In the realm of retail, AI predominantly encompasses machine learning algorithms, automated procedures, and predictive analytics aimed at enhancing customer interactions, operational efficiency, and decision-making processes. As a result, retail businesses can enhance customer satisfaction through personalized product recommendations, streamline checkout procedures, deliver superior customer support, and optimize inventory management, demand forecasting, and marketing strategies. The adoption of AI is gaining traction among numerous retail brands, with statistics indicating that nearly half of retail companies now integrate AI technologies into their daily operations.
NEW YORK, March 27, 2023 /PRNewswire/ -- Visulon, a leading enterprise SaaS GotoMarket Platform for Fashion Brands, today announced a new AI and Generative AI strategy that will revolutionize New Product design and merchandising planning processes for Fashion Brands. By leveraging the power of AI and generative AI, Visulon aims to elevate its customer's productivity for better product design, planning, and inventory management capabilities, enabling them to meet the demands of consumers more efficiently.
While talking about Visulon's AI-optimized enterprise solutions, Mr. Arun Joshi, its CEO, said that "We are thrilled to announce our new AI and Generative AI product roadmap which is being developed to help designers and merchants to create new designs, plan their product assortments, and predict consumer preferences for them more accurately and efficiently than ever before. This will enable merchants to save time, stay ahead of the competition, and deliver the best possible products to their buyers."
Sarvesh Devi, Visulon's Director of Engineering, declared that "The AI and Generative AI strategy involves training advanced machine learning models on a large dataset of fashion images, allowing the AI models to learn the style, color, and composition of the products. With this knowledge, the Generative AI models can design new products that are similar to the input images but with unique variations. This will enable Fashion Brands to expand their product offerings while maintaining their established brand identity."
With our Generative AI model, Global Merchants and Merchandisers can substantially automate building New Lines for a specific buyer using selection criteria, sales analytics, pricing, and margin calculations; and can offer variations for regional style preferences and uniqueness.
Visulon is also working on using the Brand's historical large product data sets to build an AI model to automatically build new apparel and footwear designs. Also, using Visulon's ChatGPT, merchandisers would be able to build Presentation boards in Freedom-Board® or in Powerpoint.
The AI and Generative AI strategy aligns with Visulon's commitment to innovation and continuous improvement. By leveraging the latest technologies, Visulon is able to stay ahead of the competition and deliver the best possible products to its customers.
About Visulon:
At Visulon, we innovate and develop foundations to build sustainable digital commerce by providing B2B enterprise SaaS solutions that eliminate manual methods. Visulon has focused on Apparel, Fashion, and Sport's multi-channel brands to enable them to formulate a digital, enterprise-wide GotoMarket strategy. Contact Arun Joshi, email: info@visulon.com