Google Cloud on Friday announced four new and updated AI-technologies to help retailers streamline in-store shelf checking and create more natural online shopping experiences through enhanced personalization and browsing capabilities.
Retail media advertising involves the placement of ads on retailer apps, websites, and marketplaces. Spending on this platform in the U.S. grew from $1 billion to $30 billion in 2022 in just five years, according to CB Insights.
“For comparison, the social advertising market took 11 years to surpass the $30 billion, and search advertising took 14 years to do the same,” estimates CB Insights.
Google’s announcement comes ahead of the National Retail Federation conference scheduled to take place next week.
At NRF, Google Cloud will showcase AI innovations for retailers such as a shelf-checking AI solution built on Google Cloud’s Vertex AI Vision.
The shelf-checking AI feature -- which can identify billions of products -- relies on Google’s database of facts about people, places and things. The idea is to create more personalized search and better browsing through machine learning.
As an update to Discovery AI solutions, Google Cloud introduced a personalization AI capability and AI-powered browse feature to help retailers upgrade their digital storefronts with more dynamic and intuitive shopping experiences.
Google Cloud’s Recommendations AI solution also launched machine learning capabilities that empower retailers to dynamically optimize...
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