Efficiency Gains from Store to Online to Back Office
Extend your AI advantage to areas like translation, where retailers and the consumer products industry are scoring impressive gains in productivity
Click an online ad and chances are you’ll keep seeing similar ads for quite some time. That’s because you’re being tracked and observed. Advertisers know the benefits of micro-targeting and were among the first to use artificial intelligence (AI) to collect and analyze the vast stores of data required to do so.
The AI benefits start right at the warehouse
AI is putting unprecedented market intelligence in the hands of retailers by tracking huge datasets of sales by outlet, region, season, and more. By the time you make a purchase, AI has enhanced traceability, improved food & product safety, predicted what you’re going to buy and when, and put those items on the next shipment to stores.
Retailers are estimated to boost their revenue by up to 5% by making sure they always have the right items on hand. As an added bonus, they enhance the customer experience and reduce employee frustration. (And they cut their carbon footprint by NOT shipping items that won’t sell!)
AI keeps you coming back
AI is also watching how you shop. Which items do you usually buy online? Which ones do you purchase in store? Is there something you’ve stopped buying? Maybe a nudge from a special offer will bring you back… Powerful AI applications predict consumer behaviour across the customer journey, offering new marketing efficiencies.
AI may even be watching you on the sales floor. Some applications follow shoppers through the store to analyze which direction they go, where they stop, how long they linger, and so on. This is used to improve store design.
AI is watching the competition too
Prices can change in a flash and retailers know that, so they’re keeping close watch on the competition. They use AI to monitor prices in real time and stay competitive. Some applications predict gross margins weeks in advance, so retailers can price aggressively without hurting the bottom line. This is a real boon for independents who are up against big box competitors.
The consumer products industry is also using AI for social media monitoring. It’s a way to protect brands and gain a truly fact-based understanding of customers.
R&D, manufacturing, head office functions
Some of the benefits are inspiring. Whether it’s Frito-Lay saving $300,000 per factory line by using AI to predict the weight of potatoes, Domino’s Pizza using AI to check for correct toppings and aesthetic appeal, or Unilever using AI to formulate beauty and skincare products, there are huge productivity gains to be made. One back office benefit: accelerating and improving the translation process.
AI benefits for a multilingual world
With today’s razor-thin margins, you need to leverage the full power of AI for administrative functions like translation, an area that has seen truly spectacular gains in speed and quality. Like with all AI applications, AI-enhanced translation is data dependent—you need a supplier with the right data and with the know-how to leverage it fully and securely.
How TRSB delivers the power and savings of artificial intelligence
TRSB—Canada’s largest translation provider—has been a trusted partner to the consumer products industry for nearly 40 years. Here’s how we’ve been successfully delivering the benefits of AI:
- All your work is performed in a highly secure environment carefully monitored and maintained by TRSB’s IT specialists.
- We use the most advanced neural translation engines available and train them on decades of professional translations in the consumer products industry. Quality in, quality out.
- We work with translation memory tools that retrieve and use your in-house vocabulary.
- We add human expertise by having subject-matter experts on our translation team check the output line by line.
- For advanced terminology, our translators can refer to our team of terminologists, who are standing by to carry out research.
- We have specialized divisions we draw on depending on the nature of your requirements: legal specialists for legal documents, copywriters for marketing materials, HR experts for human resources, etc.
- As an ISO-certified provider, we can advise you on best practices, help you coordinate your workflow, segment your work by required level of quality control, and more.
- We also offer a complete Desktop Publishing department that can handle multiple file formats and coordinate complicated updates to product catalogs and consumer documentation.
Cost, speed, quality
We’d be delighted to sit down and go over your requirements with you. There is no cost or obligation. We will put together a plan that delivers AI-enhanced savings and speed while also providing the benefit of our decades of experience in retail and consumer products.