Cloud Journey, With Shinsegae I&C <Demand Forecasting>
□ Shinsegae I&C is launching full-scale commercialization of 'SAIcast', a distribution-specialized AI demand prediction platform.
□ AI predicts demand by date and product to prevent disposal, supply and reduce inventory management costs.
□ Cloud-Based AI Demand Forecasting Platform...Expanding into domestic and global markets
“On April 6, 678 ramens will be sold at the A branch of the large supermarket. I'll place an order in advance with proper stock.” AI, which has learned tens of thousands of data, predicts in advance what products will be sold by date at large discount stores and automatically orders them according to the number of products needed. AI accurately predicts sales volume by product by calculating and identifying hundreds of variables that affect the distribution market, including weather, price, and promotion, as well as existing sales data.
Shinsegae I&C (CEO Kim Jang-wook) is planning to commercialize its own AI demand prediction platform called "SAIcast (SHINSEGAE AI Forecast)"
"SAIcast" is a cloud-based AI demand forecasting platform developed by Shinsegae I&C with its own technology and predicts sales volume by date and product based on customized algorithm learning by product. Based on data predicted by AI, orders are automatically made according to demands by each product through ordering system.
Previously, employees had to take charge of additional orders in accordance with the store's inventory situation after ordering automatically only with past sales data. In addition to the sales data, 'SAIcast' accurately predicts sales volume by product every day based on hundreds of different variables, including weather, price, promotion, and season, and delivers data to the ordering system to place orders automatically as many products as needed. Stores can lower the rate of product disposal, loss of sales opportunities due to free goods, inventory management costs caused by overstocking, and further increase the efficiency of employees' work.
In addition, 'SAIcast' is a cloud-based platform, not a deployment type, with the advantage of low initial cost of deployment, and that demand-predicting services can be used immediately after data is secured without a separate development period. Web-based dashboard and marketing for use in the Characteristics of Big Data analytics tools and companies have data that can be with, and more possible.Can be sophisticated and accurate data analysis results.
Shinsegae I&C has been operating two E-Mart stores since November last year by introducing "SAIcast." Currently, 'SAIcast' is conducting PoC with beauty editing shop 'CHICOR' and will continue to collaborate with E-Mart to upgrade its system.
"Shinsegae I&C is focusing on developing AI platforms that can be applied to distribution businesses and expanded into various markets, not just research on AI technologies," said Yang Yoon-ji, managing director of IT2 at Shinsegae I&C. "Since 'SAIcast' is a cloud-based AI demand prediction platform developed with its own technology, we will step up efforts to expand domestic and overseas markets in earnest starting this year."
Meanwhile, Shinsegae I&C is developing AI business platforms specialized in the distribution industry and expanding its business through an organization dedicated to AI.
Last year, the company developed "SAIbog (SHINSEGAE AI Bot on Google), an AI chatbot platform dedicated to shopping based on Google technology,
and introduced it to Shinsegae Department Store and Shinsegae TV Shopping.
In particular, Shinsegae Department Store's chatbot "S Bot" has become a leading chatbot in the retail industry, with 70,000 people using it on average and 160,000 inquiries per month.