Canadian Tire’s management estimates that during the pandemic, AI helped the company increase sales by 20%, even though the retailer had to partially or completely close 40% of its stores.
These gains are due to Canadian Tire’s ability to quickly analyze internal sales data and external environmental data using predictive tools. This allows Canadian Tire to identify trends, such as increased sales of certain items in certain stores.
The use of natural language processing also allows 4,500 front-line employees to interact with Canadian Tire’s system through simple text or voice queries. “The staffers constantly track sales and quickly react to changing demand” notes one executive.
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