Business technologies and concepts from tomorrow and beyond are the focus of EuroCIS 2019. At GK Software’s stand C42 in hall 10 prudsys will be presenting the AIR (Artificial Intelligence for Retail) solution, a retail-oriented platform based on artificial intelligence that optimizes retail processes across the entire value added chain. The focus is on dynamic pricing, personalization and fraud detection.
Dynamic pricing: Using intelligent price algorithms allows retailers to achieve the best possible product price over the entire product life cycle while avoiding markdowns. They achieve higher margins and increase profit. Intelligent check-out couponing, another application of personalization, increases purchase frequency, e.g. coupons on the receipt, loyalty cards and in-store kiosk systems.
Personalization: The AI-supported control of digital signage provides impetus while shopping. Personalized product recommendations at various touchpoints in the store, e.g. self-scanners, scales, checkout, consultant tablets and shopping apps achieve demonstrably higher shopping basket values.
Fraud detection: Frictionless shopping – our main topic for EuroCIS 2019 – improves the shopping experience for customers and sets new challenges for retailers. AI-based fraud detection supports retailers when introducing and handling cashless payments, e.g. in the form of self-scanning and self-checkout. Intelligent algorithms use current shopping basket transaction data as well as customer behavior to predict the probability of fraud at every checkout. They provide recommendations for a rescan and use scan results to continue learning independently, making their predictions increasingly more accurate. Customers are not unsettled by unnecessary scans. At stand C42 visitors can experience a live demonstration of how it functions in the store.
In addition, visitors learn everything about GK’s pioneering store solutions:
Dynamic pricing: Using intelligent price algorithms allows retailers to achieve the best possible product price over the entire product life cycle while avoiding markdowns. They achieve higher margins and increase profit. Intelligent check-out couponing, another application of personalization, increases purchase frequency, e.g. coupons on the receipt, loyalty cards and in-store kiosk systems.
Personalization: The AI-supported control of digital signage provides impetus while shopping. Personalized product recommendations at various touchpoints in the store, e.g. self-scanners, scales, checkout, consultant tablets and shopping apps achieve demonstrably higher shopping basket values.
Fraud detection: Frictionless shopping – our main topic for EuroCIS 2019 – improves the shopping experience for customers and sets new challenges for retailers. AI-based fraud detection supports retailers when introducing and handling cashless payments, e.g. in the form of self-scanning and self-checkout. Intelligent algorithms use current shopping basket transaction data as well as customer behavior to predict the probability of fraud at every checkout. They provide recommendations for a rescan and use scan results to continue learning independently, making their predictions increasingly more accurate. Customers are not unsettled by unnecessary scans. At stand C42 visitors can experience a live demonstration of how it functions in the store.
In addition, visitors learn everything about GK’s pioneering store solutions:
- The frictionless store is the trend of the future in retail. Consumers can use their smartphones for all activities when shopping without contact with the IT systems or with the retailer’s staff. The mobile consumer assistant, for example, offers services such as self-scanning, AI-based recommendations and mobile payment.
- At the stand, visitors can experience the heart of the GK world of solutions, the cloud-based store platform OmniPOS, which manages all store processes. They can experience in person the opportunities that OmniPOS offers retail in connection with artificial intelligence, the use of mobile devices and the latest technologies.
- GK Software offers several new solutions for special requirements based on the OmniPOS platform: The scale software OmniScale, OmniPOS Petrol for seamless integration of gas station and convenience store businesses into the overall solution as well as OmniPOS Hospitality to integrate restaurants into the channel-spanning overall strategy.
- GK Software also offers solutions for blockchain-based payment technologies and virtual reality stores.
