Global AI Leader Rubikloud Warns Retailers to Implement AI in May to Survive Holiday Season
TORONTO (PRWEB) May 10, 2018 -- Microsoft Build Conference - Retailers that implement Artificial Intelligence (AI) into their systems in May will have time to influence shoppers for the 2018 holiday season, warned Rubikloud, the global leader in retail AI. The company announced at the Microsoft Build Conference that it takes 12 weeks to implement AI solutions to automate mission-critical business decisions that empower retailers to accurately serve customers what they want, when they want it, at the price they are willing to pay.
Rubikloud currently has customers around the world, including both the #1 drug store and #1 largest specialty beauty retailer in the UK, as well as several of the world’s top ten retailers, one of which credits the platform for generating $88 million in new revenue in its first year.
“Retailers who commit to AI this spring will see the benefits in time to make decisions about the holiday assortment, promotion strategies, inventory allocations, and effective loyalty campaigns,” said Rubikloud Founder and CEO Kerry Liu. “It’s a remarkable asset to have AI make these decisions when dealing with hundreds of thousands of SKUs that require an infinite number of combinatorial decisions. The AI takes the guesswork and human error out of decision-making ranging from pricing and promotions to stock amounts and loyalty campaign execution.”
2017 proved to be a challenging year for traditional retailers with many well-known brands such as Toys ‘R’ Us, Claire’s and Bonton declaring bankruptcy, with 19 others, including Sears and J.Crew rumored to be close to default. However, the retail industry is witnessing smart retailers such as Walgreens Boot Alliance, Dollar General, and Ulta thrive and expand during this time. Rubikloud believes AI is the reason behind these brands’ successes.
AI can accurately predict demand forecasting, product search ranking, merchandising placements, fraud detections, deal recommendation and translations. These features help create personalization within a mass market industry. More brick-and-mortar stores are struggling than succeeding, and more consumers are turning to the personalization of e-commerce sites. Traditional retailers need AI to stay ahead of an industry in transition.
About Rubikloud Technologies Inc.
Rubikloud uses AI to deliver intelligent decision automation with the world’s leading machine learning platform for retail. Its cloud-native platform and two flagship applications automate and improve mass promotional planning and loyalty driven marketing for their multi-billion dollar retailers. Rubikloud targets mission-critical business problems by analyzing large amounts of data from multiple legacy sources as well as new and offline systems to empower retailers to take tangible actions with powerful results. Rubikloud is a private company with investors that include Intel Capital, Horizons Ventures, Access Industries, Inovia Capital, and OTEAF. The company has raised $45M in venture financing to date. More information can be found at http://www.rubikloud.ai
Emma Lattanzio, SparkPR, +1 (646) 291-6054, [email protected]
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