Ensemble | Embedding artificial intelligence in retail
Ensemble is an artificial intelligence, machine learning and data science event going virtual from Peak HQ in Manchester.
Speakers: James Grant, Lecturer in Statistics at Lancaster University and Chris Boddington, Data Scientist at Peak
Ensemble is an artificial intelligence, machine learning and data science event held regularly at Peak in Manchester. This time we are going virtual! Like an ensemble model, the event will allow learning through exposure to a diverse set of experiences. Each month, a top researcher from the fields of computer science, statistics or operational research will be invited to present their work. The audience will be made up of data scientists, software engineers, researchers and company CIOs from tech companies and universities.
This will be a great opportunity to learn and network with fellow professionals and academics in the field.
Online Learning and Decision-Making
This talk will provide an introduction to problems of real-time repeated decision-making in the face of uncertainty, commonly modelled via ‘multi-armed bandits’. Such problems arise in advertising (choosing what products to recommend), resource and inventory management (choosing what combinations of stock to hold), and the tuning of machine learning algorithms (choosing which parameters or frameworks to use). We will cover some key models and algorithmic approaches to such problems which address the particular challenge of balancing between exploring the quality of poorly understood actions (products, stock levels, parameters) and exploiting the strong performance of well understood actions.
Winning with AI in retail; defining the building blocks to embed an AI product within a business.
The value of AI in retail is becoming more apparent as businesses increasingly adopt the use of AI products across their value chain. However, despite the appetite for using AI, it’s failure rate is often high, not delivering the desired results that were expected when the implementation began.
Building and integrating an AI product into a business system is just half the challenge of a successful AI implementation, how a business interacts and uses it to drive value is equally as difficult. Here we talk through a framework that will help build and deliver a successful AI product within a retail business, highlighting some of the common pitfalls and challenges that one might face along the way. We focus on the importance of design, integration, value and transformational change, in which every element has to carefully considered for the implementation to be successful.