by Jesta I.S. | June 29, 2021
Jesta I.S.’s podcast Taking Stock: Talking All Things Retail is about retail technology in an omnichannel world. Each episode features insightful conversations between technology leaders, retail executives and industry subject matter experts.
Episode 4 of Taking Stock features Arvind Gupta, President at Jesta I.S., with Rohit Nagpal, Chief Customer Officer at Absolutdata, an Infogain Company. Jesta I.S. is a global developer and provider of enterprise software solutions for retailers, wholesalers and brand manufacturers. Absolutdata helps businesses get AI-ready with its NAVIK AI platform.
Listen to Episode 4: Artificial Intelligence in Retail: Present and Future Use Cases >>
“Retail is driving artificial intelligence,” began Rohit Nagpal, Chief Customer Officer of Absolutdata. “You’re seeing a lot of use cases right now on the front stack in terms of customer facing sales and marketing, but you will continue to see a lot of things on the backend from a manufacturing, inventory management and forecasting perspective.”
“Artificial intelligence is a branch of computer science that makes computers behave like humans,” he continued. “Like humans, artificial intelligence has the ability to characterize things.”
Rohit Nagpal went on to explain that artificial intelligence is a combination of three elements:
1. Sense: machine vision and voice recognition make it possible to capture input
2. Comprehend: technology like natural language processing analyzes the input
3. Act: recommendations are given or Machine Learning is put into play
“We [at Absolutdata] apply the concept of digital twin to get started in the retail industry,” he added. “That is a concept that we feel clearly quantifies how to put the whole thing together with decisions and outcomes that can be measured quickly.”
A digital twin is a virtual model of a process, product or service. Lessons are learned and opportunities are uncovered within the virtual environment that can be applied to the physical world to transform retail businesses.
Tune in to the podcast for details on the origin of the digital twin (hint: it has to do with lunar exploration), and to learn how the retail industry is leveraging the technology by creating digital representations of stores, consumers, processes and products.
Interested in being a guest speaker in an episode of Taking Stock: Talking All Things Retail? Email Jesta’s Marketing Department at marketing@jestais.com.
