CHICAGO -- Acknowledging the complexity of artificial intelligence, Jason Lobel, CEO and co-founder of SwiftIQ, revealed to attendees at the 2018 NACS State of the Industry Summit near Chicago “how some of our peers and Amazon are making retail smarter using insight automation and artificial intelligence.”
“It’s a scary topic,” said Lobel. “Data, insights, analytics are very overwhelming. My goal for you when we leave is growing your business using data, building your EBITDA. It feels good.”
Lobel founded the convenience analytics platform in 2013 in response to the announcement of Amazon Fresh, the Seattle e-commerce company’s grocery delivery service.
Using data-driven automation and AI, SwiftIQ enables retailers and vendors to measure, share and enrich highly granular basket-level transactions and other retail insights. SwiftIQ facilitates retail analytics through high-scale automation and AI to optimize store-level execution, category management, promotions, merchandising and pricing. It analyzes more than $100 billion in point-of-sale (POS) data serving large food and beverage retailers and their suppliers.
The company works with about one-third of the top 20 convenience-store retailers, as well as with smaller c-store retailers in the 20-store range.
During the "Making Retail Smarter via Insight Automation and Machine Learning" session, Lobel broke the subject down for retailers and highlighted some examples of AI in action ...