Microsoft announced new AI capabilities and a new set of data solutions built on its Azure cloud platform to help retailers transform the shopping experience.
These solutions offer personalized recommendations, targeted ads, and virtual experiences. Generative AI is a key feature of Microsoft's new solution.
Retailers can use generative AI to create personalized visual ads for shoppers based on their previous browsing history.
New features include Copilot templates, which allow retailers to create private shopping experiences that are then integrated into apps or websites that allow shoppers to place orders in natural language.
The company says the models, based on the GPT-4 macrolanguage model via the Azure OpenAI service, can help online shoppers in the same way store associates help in-store customers.
The model can also display additional items to increase shopping cart size and improve customer satisfaction, Microsoft said in a statement.
Another new model, Copilot, can support store operations by helping employees in physical stores obtain store information.
Store administrators can use the model to create creative AI assistants to get answers to questions about store operations, product menus, hiring policies, and performance.
Customer information can also be accessed through the Assistant, which can help improve the in-store shopping experience.
Apps that use Copilot templates allow store leaders to understand common questions from employees and customers and gain insights that help them take meaningful actions, such as: b. Update training, procedures or instructions.
According to the company, this brings many benefits such as: b. Higher sales, improved customer satisfaction and lower costs.
These benefits are achieved through personalized recommendations, targeted advertising, and automation of tasks such as product recommendations and customer service.
Automation can reduce costs for retailers and free up resources that can be used elsewhere in the business.
Microsoft's new solution is clearly designed to make the shopping experience distinctive and engaging for customers, and if used correctly it will likely lead to increased retail sales and customer satisfaction.
It is still too early to evaluate the impact of Microsoft's new solution on retail.