Retail Tech: Better Shopping Through Big Data

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Jan. 14 (Bloomberg) -- Steve Power Brown, futurist at Intel and Will Smith, founder and CEO at Euclid Analytics, look at retail’s integration of artificial intelligence and big data on Bloomberg Television’s “Bloomberg West.”

Best i can.

What is the future of retail ai?

We are looking at every part of retail.

Every aspect of every part of our lives.

Are you looking to get chips in -- it seems they want to be in every part of retail.

There are more parts to be and it is not just the cash register.

Sensors, phones, displays.

Computers are getting smaller and smaller and smaller work time, to the point where you can tune anything into a computer.

Products will change.

Cups like this will become smart cups.

And in the retail environment, the shelf.

The primary retail interface for 2000 years or more and can now become smart.

Chips will be small and low-power enough and low-cost enough that you could make everything within the retail environment.

You help retailers by giving them data about what shoppers do and do not like.

That is what we are trying to do for physical retailers, what google and amazon have done forever.

We sent smartphones using the wi-fi infrastructure in the store to tell who are walking by, who is coming in -- are there privacy issues?

I think privacy is a fundamental here and something we have worked on from the beginning.

The key things are focusing on making sure it is anonymous data and you are limiting the data you collect.

We work with senator schumer and the fcc to work on a code of conduct for our space in general.

How do you get the data?

We get the data by installing software on existing infrastructure in the store and counting the wi-fi signal of the smartphone.

The store for a lifetime -- people talked about this ago retail versus e-commerce and said that it was going to eat e-commerce's lunch.

The storm was all most like a black hole.

Once you when -- went in, who knows what is going to happen?

But now it seems like there is a much more data to collect from the location.

The data advantage that online retailers have forever is diminishing and just like amazon, to make sure you have a seamless shopping experience, physical retailers can do much the same thing by showing how many people are coming in for five minutes and leaving, indicating the lines are too long?

You can indicate that the red dress or the blue dress and a store window drive more traffic.

Which is it?

Red dress drive the most traffic.

Really?

I wore the wrong color.

Let's talk a little bit about the future.

How is some of the technology you guys are working on going to make my retail experience different?

I rarely get to go to physical stores.

When i walked in, i am often overwhelmed.

I don't know how it is organized.

I'm not there often enough anymore to understand how i, but buying what i want.

It offends you -- it depends on what mood you are in.

If you are in a mission mode, you want to go in and out -- i generally am.

Sometimes we are in a leisure mode where we go in any spirits and technology will help with both of those.

In mission mode, imagine your kid has a peanut allergy and you want a gluten-free cake.

As you walk down the grocery aisle, the shelf that has the products that has the things you shouldn't need can go dark.

It makes it easier to choose in that environment.

In an experience-driven shopping environment, you want to take your time and technology can help.

We have some awesome glasses -- thank you very much.

When you go to buy those classes, you take forever, and take a picture of your face and use the augmented reality to see yourself in all the different glasses and narrow it down to the last -- which is what some retailers -- imagine that with full outfits.

You can try your dress in green or blue and you can say, i wondered how i would look in yellow that i wouldn't normally do that.

You can click a button and see what it looks like.

I like that.

Let's be a little realistic here.

The cost of this must be enormous.

Retailers cannot even get their websites right.

When will they start and lamenting this type of technology -- implementing this analogy?

This text has been automatically generated. It may not be 100% accurate.

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