The contents of this blog are authentic, my words, thoughts, and ideas. ChatGPT was NOT used in generating the content you see below. (never thought I would make that disclaimer!)
AI, or Artificial Intelligence, is everywhere in the news right now. Mark Zuckerberg, Meta’s CEO, during his latest earnings report mentioned “AI” 20 times while “Metaverse” only 7. Mr. Zuckerberg is not the only barometer when it comes to technology trends, however, this random stat is telling.
One common concern being raised in the media is the impact that AI, like ChatGPT, will have on our jobs. The truth is, we NEED AI technology to fill the demand for jobs we can’t fill. This is very real in the bricks and mortar retail space where Retailers struggle to find cashiers and brands struggle to execute their brands on shelves. Artificial Intelligence applications are meant as an “AND” not an “OR”.
At the same time, shoppers today have no patience. We live in a world where shoppers expect instant gratification. When today’s shopper goes to a store, they expect quick, no hassle experience in finding and buying what they want. Otherwise, it’s three clicks on my phone and gopuff.com, 7-Eleven, Walmart or Kroger will deliver right to your door.
These challenges coming from shoppers, retailers and brands is creating a perfect environment for innovation. This is not the AI innovation that helps complete a book report, rather, the one that can generate revenue by reducing labor, expanding reach and making shopping “frictionless”. In the Autonomous Retail (AR) or Vending Industry, the profits driven are incredible, offering 24/7 access to beverages, sandwich’s, medicine and candy. We are seeing vending for cosmetics and electronic equipment. (Carvana doesn’t really count)
Companies that profit from vending continually look for ways to increase customer closure, reduce service, reduce currency issues, and get critical shopping data to maximize assortment.
Let me introduce you to InstaGnG, the future of retail that utilizes AI technology to makes field assets work harder- especially cold equipment. Cooler that retailers, distributors, wholesalers and brands invest billions of dollars deploying across the retail landscape that enables shoppers to “grab” beverages, snacks and meal and keep “going”. Leveraging the same AI technology implemented across all of the Vision Groups brands, InstaGNG or “instant grab and go” can retrofit current asset into a vending machine. Artificial Intelligence and Image Recognition technology works to manage the sale of an item, reduce currency issues by using QR code vs. credit cards, and capture the data needed to support the supply chain.
Turning AI from fun to productive. Show me the money!
Looking forward to seeing every at NAMA 2023 in Atlanta this year. To connect during the show or learn more about Instagng, reach out to [email protected]. Check out Intagng.com and Visiongroupretail.com for more ways AI can support your business.