How deliciously binary: AI has yet to pay off – or is transforming business

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Calculating ROI of neural networks turns out to be rather complicated

The tech industry's enthusiasm for artificial intelligence software – a conveniently amorphous term – has yet to generate much of an economic windfall.

The Census Bureau report says that businesses are using AI for marketing automation, virtual agents and chatbots, natural language processing, and data/text analytics.Clearview, based in Atlanta, Georgia, works with retailers to analyze their data and provide product and brand recommendations. It provides guidance on what products should be stocked and ordered, what products competitors order, and data on brand popularity by region.

In addition, Clearview develops a competitive analysis for retailers that covers what's on the shelf and what's planned, and what rivals are doing. Asked what feedback Clearview had received from customers, Welch said,"My favorite one – and I wrote it down and stuck it on my white board at the office – it was, let's just say, one of the largest retailers in the world. said, ''This is industry-wide, game-changing. And of course, we want to be part of it.' So they were one of our early adopters."

 

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