Traditional retail is hoping to blur the differences between online and offline stores with a slew of new technologies. They desperately want to compete with Amazon on equal footing - now they can!
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Traditional retail is hoping to blur the differences between online and offline stores with a slew of new technologies. They desperately want to compete with Amazon on equal footing - now they can! MORE: Blog or code: http://www.viralml.com/video-content.html?fm=yt&v=R97bSNLEmdk Signup for my newsletter and more: http://www.viralml.com Connect on Twitter: https://twitter.com/amunategui My books on Amazon: The Little Book of Fundamental Indicators: Hands-On Market Analysis with Python: Find Your Market Bearings with Python, Jupyter Notebooks, and Freely Available Data: https://amzn.to/2DERG3d Monetizing Machine Learning: Quickly Turn Python ML Ideas into Web Applications on the Serverless Cloud: https://amzn.to/2PV3GCV Grow Your Web Brand, Visibility & Traffic Organically: 5 Years of amunategui.github.Io and the Lessons I Learned from Growing My Online Community from the Ground Up: https://amzn.to/2JDEU91 Fringe Tactics - Finding Motivation in Unusual Places: Alternative Ways of Coaxing Motivation Using Raw Inspiration, Fear, and In-Your-Face Logic https://amzn.to/2DYWQas Create Income Streams with Online Classes: Design Classes That Generate Long-Term Revenue: https://amzn.to/2VToEHK Defense Against The Dark Digital Attacks: How to Protect Your Identity and Workflow in 2019: https://amzn.to/2Jw1AYS Transcript With the advances in Vision, Facial, recognition and sentiment analysis, their day has finally come. CEO and founder of Coresight Research, Deborah Weinswig, revealed that the retail industry invested $3.4 billion in AI in 2018 — which is more than the banking industry invested. Whos the winner now? Right? I have no idea whos winning, but I know who are still loosing, same as before, all that cattle caught in the cross-hairs of those cameras and ever better manipulated by algorithms, you and me! I still remember being surprised by billboards that could use my cell phone signal to tell if I walked by or even looked at the ad. Or surprised with those phone apps, like The Weather Channel, that would sell my location data to advertisers, and thats how they know I had a bagel at 10AM at this location and then see creepy related ads. Well, thats old news, 2 years old by a matter of fact and thats like 200 years in AI time. Today, youll get a ticket if you jaywalk in Shenzen China, it will be sent to your phone and you will get your picture and some information posted online on a wall of shame, all of that using facial recognition! San Francisco Board of Supervisors recently banned the use of facial recognition by police and other city departments not for all use but for things like body-worn and stree cameras. They are all realizing how powerful and invasive this technology is. I think thats a great idea, not because I dont like facial recognition, not at all, but we need to get in the serious habit of asking questions, finding how something will affect our privacy, and, with automation, how will that affect jobs and will we have enough time to retain redundant workers. Theyre coming out at such a rapid pace that bad things could easily happen. But lets focus specifically on retail. Walgreens and Kroger are testing cameras that can guess your age and gender. they started early this year in Chicago with plans to expand from there. It is called “Cooler Screens”. It is a cooler, with a screen instead of the see-through glass, basically a giant sideways tv, and a camera. Who are we kidding, its still identification. And regardless, whenever you put a camera in front of people, well always feel Its that simple. Online stores know your gender, age, tastes, and if you log in, your entire shopping history! And traditional retail wants that too. Walmart recently opened a new “store of the future” to test AI-enabled cameras and interactive displays in N.Y. Check out all those cameras - how are you feeling about your privacy now? IT wont be used for checkouts instead it will track inventory levels, generate restocking alerts, etc. on their 50,000 square feet retail space, staffed by more than 100 employees. It will also educate shoppers about these tools. Theyll have interactive booths where you can get acquainted with this technology. Presumably to reassure them that theyre not tracked or influenced. But just like with smart coolers, where there is a camera watching you... you know the rest And check out this picture of the Walmart store form TechCrunch, with a stack of servers like this, you know its gonna be like Tesla, theyre going to keep rolling things out, little by little, and keep getting more and more powerful - what they say it can do today, will be dwarfed by what it can do tomorrow. If you want to guess what next invention you will see at a Walmart or Walgreens or other brick-and-mortar stores, look no further than Amazon. If Amazon has it, theyll want it too. For those looking for a business idea, start there. CATEGORY:StateOfIndustry