A.I powered robots are being installed by major retailers. AI in retail is set give a boost to the industry.
To increase sales and reduce the burden of monotonous tasks on employees, as well as address the ongoing shortage of labor, retailers and supermarkets are incorporating robots into their stores.
These autonomous inventory robots are equipped with cameras and sensors to verify prices and detect out-of-stock items, and are being deployed at major retailers such as BJ'S Wholesale and Walmart-owned Sam's Club.
Brain Corp, Simbe Robotics, and Bossa Nova Robotics are among the companies operating in this sector.
CNBC explored Brain Corp's operations to assess the impact of inventory robots on U.S. retailers and their employees' livelihoods.
U.S. retailers faced significant inventory challenges, with missed sales due to empty shelves and out-of-stock items costing them $82 billion in 2021, according to NielsenIQ.
Despite investing heavily in inventory and point-of-sale systems, retailers lack an accurate picture of what is happening on their shelves on a daily basis. A.I in retail is belived to bring a change in th industry and aide the companies.
“Retailers are spending a lot of money to know what’s coming into their stores through their inventory systems and through their point-of-sale systems, but in their stores on a daily basis, they don’t have a very good model of what’s actually happening on their shelves.” said Jarad Cannon, chief technology officer at inventory robot maker Brain Corp.
