The AI Summit New York 2019
December 11 2019, New York, NY, United States
The AI Summit New York 2019
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Experts in AI: Changing the nature of retail
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Some applications of artificial intelligence can be quite controversial, threatening civil liberties and human jobs, while others appear to deliver considerable benefits and no drawbacks.

Optimization of retail supply chains fits in the second category: on one hand, it improves profitability, while on the other, it eliminates waste and improves sustainability of the organization –and with greater awareness of climate change, and the accompanying pressure from consumers, sustainability is now an essential part of the boardroom conversation.

To find out about the ways AI tech can encourage more ethical consumption, AI Business sat down with Andreas Schmidt, director of product management at Blue Yonder, a German AI firm which was acquired by American supply chain software specialist JDA in 2018. Somewhat surprisingly, JDA then changed its name to Blue Yonder in February 2020.

Schmidt delivered a session at the most recent AI Summit in New York, where he talked about the benefits of using AI tools in supply chain management. At the core of Blue Yonder’s proposition is the ability to use machine learning to more effectively predict consumption patterns and adjust stock levels accordingly.

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Welcome to Nai business TV here at the AI Summit New York 2019. You are very pleased to be doing today. But that's why I'm dressed Met his product 00:05 director Blue Yonder a JD a company welcome. How are you? Thanks. I'm fine. How are you? I'm good. Thank you so much for joining us here at the ice 00:13 iMac will be delivering a presentation on sustainability impossibility on the station today. 00:20 So supportive cause being a scientist. I will talk about how to make predictions using artificial intelligence. But also that this alone is not enough 00:29

if you want to reach any to his Empire company me to take the right decision and that sometimes means it's millions of decision today. I walked 00:39 through an example of ordering fresh food for supermarkets and by that what does actually mean taking this money decisions and how then in the end 00:48 using probabilities Will help retailers achieve profitability and sustainability at the same time. 00:56 Can you talk us through some of the key use 01:03 cases for AI in retail today food 01:13

for a puppy supermarkets are in the supply chain for anything that is replenishment predict demand understand what the strategy is recommended to 01:23 write order another very prominent red price at the right time understand how the relation between price and demand actually works and then 01:31 mocked on the products just in time so that you are out of your inventory by the end of the Seas under the combination of coal when you know preseason 01:41 that you can do mactan in the end you can again hedge against the I'm talking to you by optimizing the strategy. Seeing AI impact 01:50

Supply Chain management organization that we tend to break silos. When we Implement something like an automated store ordering and this has to do with 02:00 is easy transition to actually being able to follow a strategy and having a tool that translates. It's got to be into execution take the example of 02:10 what's the right balance between not wasting anything and having a full show historically many corporations that are different apartments responsible 02:18 for that one asked you to minimize the waist and the other one asked you to optimize be the availability. What is the right balance between their 02:27

needs a new approach of actually deciding on that and at the same time user the role of a user changes the 02:34 expertise that wasn't the part responsible for making it work and looking at all of these decisions that need to be taken now the five optimize the 02:44 way by the machine and uses a freed up text to take the Strategic Direction. The company wonderful and in terms of people that are starting out the AI 02:53 journey to find the AI roadmap. How are you seeing AI optimized organization Supply Chain management call Desi direct 03:03

benefits of using the output from machine learning and AI drone Solutions, but there's also a secondary a text in that which we need a time whenever 03:13 you want to do something with their you need data to the intensification and shape of cleaning it up and sometimes you question processes just because 03:22 some promotion was set up in a certain way in the past always might have to change all this that might be an opportunity to change this right now. 03:31 You what I think will continue to see the spectacular advances in the things that they decide to join Republic which DNA I beat the world champion in 03:44

chess and go things that we never fought a possible always wear a distinct that we as humans have always been doing very well and we're very proud of 03:52 at the same time. I think where the where the product of the value of the everyday value will be is applications intelligence algorithms. Just as my 04:01 example of storing every decision being optimized by an intelligent advertisement by the machine just leads a lot of value that is necessary to stay 04:10 competitive. But everyone will have these tools available and manual decision-making think will not be complacent. 04:19

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