< Previous40 edge_december 2023 opinion W hile the e-commerce industry continues to boom, with online sales now accounting for 20 percent of global retail sales each year, experiential retail is undergoing its own seismic technological shift. By embracing the powers of AI, switched-on retailers are able to enhance and personalise the in-store shopping experience, contributing to greater brand loyalty, increased conversion, and streamlined operations. From AI-powered assistance to real-time data analysis and inventory management, here are just some of the ways AI can be leveraged to elevate experiential retail. Personalised recommendations One sure-fire way to build brand loyalty and improve customer experiences (CX) is by personalising the shopping experience at every step of the user journey. Retailers are harnessing AI to analyse customer data and real-time behaviour, both online and in-store. They can then use this data to provide a personalised experience, anticipating each customer’s preferences and shopping patterns to offer tailored recommendations. By creating a more satisfying and engaging experience, AI can drive conversions and engender repeat business. Enhanced marketing As the shopping journey often begins online – even By Karl Escritt CEO, Like Digital & Partners How AI is transforming in-store experiences More and more retailers are embracing the powers of AI to elevate and personalise the experience for shoppers AI when the purchase is eventually made in a bricks- and-mortar store – brands that deliver personalised recommendations via an omnichannel approach are most likely to capture the consumer at the very start of the conversion funnel. Retailers can use AI to analyse browsing history, social media interactions and previous purchases to inform their omnichannel marketing strategies. Data-led design There’s long been a science to the layout of retail spaces. It’s no coincidence that your supermarket essentials, such as eggs and milk, are placed at the very back of the store, forcing you to walk past hundreds of other products en route. For years, retailers have been tapping into basic psychology to encourage shoppers to stay in the aisles for longer and spend more money in the process. Now AI is enhancing store designs even further with platforms that suggest where certain products should be showcased for optimised in-store browsing, and even how much they should cost. Small adjustments to layouts and displays can help improve sales by giving the customer what they want, while encouraging more impulse buys in the process. AI-driven assistance Most of us have been in a position where an over- enthusiastic retail assistant has made you want to run for the hills without making your purchase. AI can now bring the same level of assistance to shoppers’ fingertips, without the human interaction, whether that’s via AI-enabled kiosks positioned throughout the store, or AI robots that come to you, helping with way-finding, pricing and stock enquiries. In fact, 69 percent of shoppers have said they would be more likely to buy in-store if they were aided by self-help technologies, such as kiosks or interactive displays. Seamless check-out AI is also transforming the way shoppers pay for their in-store purchases. Major retailers are Powered by data Optimising store layouts and displays can improve salesedge_december 2023 41 opinion testing the waters with cashier-less checkouts and trolleys that allow you to scan and pay on the go, all designed to streamline the process for shoppers while reducing staffing costs for businesses. Dynamic pricing The old rule of supply and demand has become more relevant than ever, as retailers tap into AI technology for dynamic pricing guides. Stores can harness real-time data to see what shoppers are searching for and purchasing, what their competitors are offering, and even how current world events may affect consumer trends. This dynamic pricing approach empowers stores to stay agile, adjusting prices in response to ever-changing market dynamics. Enhanced inventory AI is revolutionising the in-store shopping experience by transforming inventory and stock management behind the scenes. Retailers leverage AI to prevent stockouts, optimise product levels, and avoid over-supply of unpopular or soon-to- be-outdated items, ensuring a more efficient and customer-centric approach to managing store inventory. In this way, AI can help retailers achieve that Goldilocks moment of not too little, not too much, but just enough product to keep the shelves full, their shoppers happy, and the company’s bottom line in the black. “The old rule of supply and demand has become more relevant than ever, as retailers tap into AI technology for dynamic pricing guides.” Redefining experiences AI can transform the way retailers engage with customers, building trust and loyalty42 edge_december 2023 opinion O ne of the most exciting and transformative characteristics of digital transformation is the way in which open banking is revolutionising the security and ease, of cross- border trade. The MENA region, with its unique advantages, is positioned for accelerated innovation and participation in open banking, offering significant potential for policymakers, investors, and businesses to transform cross-border trade, drive GDP growth, and reinforce regional value chains. GCC countries, already hosting mature financial centres and robust capital markets, boast strong demographic potential, a business-friendly culture, and a maturing regulatory landscape. Recent advancements in legal frameworks for open banking in Bahrain, Saudi Arabia, and the UAE, with Saudi Arabia issuing a comprehensive framework in November 2022, align with international best practices. These policies establish comprehensive frameworks encompassing legislation, regulatory guidelines, and technical standards, facilitating Third-Party Providers (TPPs) to catalyse innovative services. This has the potential to make banking more accessible, inclusive, competitive, and affordable for emerging businesses. By Corey Thompson Executive Vice President and Head of Digital for Retail Banking Group, Mashreq Open opportunities Banks see open banking as a pathway to offering highly personalised customer services that cater to the real- time and distinct requirements of each business FINTECH Data sharing One of the fundamental needs for a prosperous open banking ecosystem, is safe and secure access to customer data. This is an area where blockchain technologies can play an important role. Mashreq launched the MENA region’s first blockchain data- sharing platform to instantly support businesses and corporates opening digital bank accounts – and was also the first to launch an API developer portal. That portal is integral to building out the Banks’ SME ecosystem and powering the development of innovative digital journeys for its customers. Trade impact For developers in the open banking ecosystem, the customer journey is at the heart of innovation. For traders, open banking can make it possible to trade across borders faster and cheaper by bypassing a range of third-party intermediaries such as correspondent banks or payment gateways. This can reduce transaction fees, avoid delays and make the entire process of buying and selling goods easier. The customer journey for cross-border trading can be made even smoother by banks’ digital platforms, which are becoming more streamlined, responsive and intuitive. APIs make it possible for banks to collaborate with TPPs, fintechs, and regulators, to build new automation and AI- enabled banking processes into their platforms. Examples include automated paperless onboarding, digitised credit checks, fast mobile payments, or financial management tools. Data security Safe and secure access to customer data is the fundamental need for a prosperous open banking ecosystemedge_december 2023 43 opinion Collaboration Collaboration among banks, fintechs, and businesses is crucial for maximising the benefits of open banking in promoting business growth and facilitating cross-border transactions. Mashreq exemplifies this collaborative approach by integrating its NEOBiz Connect API into Virtuzone, streamlining SME account opening as part of the company formation process. This is just one of several Neo projects enhancing Mashreq’s support for the growing SME ecosystem, simplifying business operations in the UAE. Additionally, collaborative efforts are instrumental in utilising open banking to combat financial crime, including money laundering and fraud in the MENA region. UAE government statistics reveal the seizure and confiscation of assets exceeding $1.28 billion (AED 4.73 billion) between July 2021 and July 2022. In 2022, the Director General of the UAE’s Executive Office of Anti-Money Laundering and Countering the Financing of Terrorism highlighted the establishment of a department focused on domestic compliance and coordination, emphasising international cooperation, partnerships, and communications. Open banking has a powerful role to play in supporting policymakers by enhancing transparency through standardised controls and fostering a consistent data-sharing approach among trusted third-party partners within the financial ecosystem. This has the potential to streamline identification and verification checks, making them quicker and more efficient, while also facilitating the tracking, monitoring, and reporting of suspicious transactions and financial behaviours. Collaborative efforts between banks and regulators in open banking also facilitate intelligence sharing with national, regional, and international enforcement agencies, including the Financial Action Task Force (FATF). Banking as a Service (Baas) The fight against financial crime is especially important within the context of the evolving Banking-as-a-Service (BaaS) business model. BaaS enables banks to embed financial services in third party platforms – allowing non- financial organisations to offer financial services without having a banking license. BaaS allows non-financial organisations to leverage bank infrastructure, regulatory compliance, and seamless digital capabilities. Consequently, BaaS represents a significant blurring of traditional industry ecosystem; opening up to a vast new world of opportunity and innovation, through new business models and value creation. For banks, the future of open banking provides a gateway to delivering hyper-personalised customer services that meet the real-time, unique needs of every business. To get there, banks need to invest in transformative technologies that those of us in the open banking environment already rely upon – analytics, AI, machine learning solutions, biosecurity tools, and cybersecurity, capable of protecting data in today’s extraordinarily complex and interconnected digital economy. Through the prism of open banking, these tools and capabilities will unleash enormous opportunities for businesses looking to accelerate and simplify their international trade – making cross-border transactions within the MENA region faster, easier, and more accessible than ever before. “Open banking has a powerful role to play in supporting policymakers by enhancing transparency through standardised controls and fostering a consistent data- sharing approach”44 edge_december 2023 BANG & OLUFSEN: Cisco 950 Cisco and Bang & Olufsen have launched brand- new wireless earbuds built with enterprise-grade features customised for professionals on-the-go. The Bang & Olufsen Cisco 950 earphones are equipped with features that enable crystal-clear audio for seamless collaboration from any setting. With an emphasis on connectivity, the device offers prolonged battery life, high-fidelity audio, and Bluetooth 5.2 for lightning-fast pairing. Adaptive Active Noise Cancellation ensures an immersive auditory experience, complemented by in-ear voice notifications and convenient on-ear controls. Beyond exceptional sound, these earbuds prioritise security and management. Fully integrated with Cisco’s Control Hub platform, IT administrators gain unprecedented control over their device fleet, allowing for secure updates and insights into inventory and utilisation— empowering them to maximise ROI. The Bang & Olufsen Cisco 950 earphones are also optimised for Webex and seamlessly pair with other Cisco collaboration devices. Moreover, the device effortlessly connects with both Android and iOS devices without compromising audio quality.edge_december 2023 45 gadget watch The Acer SpatialLabs View Pro 27 is tailored to the needs of designers and developers. Featuring a 27-inch 4K UHD display, it provides a glasses-free 3D experience with an integrated eye-tracking module for real-time user tracking in various lighting conditions. In terms of audio, the Acer Immerse Audio system is noteworthy. Driven by AI, it employs beamforming directional acoustic signal transmissions and head- tracking mechanisms through two upward-facing 2.5-watt speakers, enhancing the audio experience for users. Designed for adaptability, the display offers ergonomic adjustments for optimal viewing angles. The detachable hood serves a functional purpose, improving colour accuracy and minimising distractions. ACER: SpatialLabs View Pro 27 INFINIX: Zero 30 The Infinix Zero 30 caters to budget-conscious content creators. A key highlight is its 50MP front camera, enabling 2K video recording for detailed and vivid content. Its Phase Detect Autofocus and Dual Micro-slit Flash ensure clarity and versatility in various lighting conditions. Creativity is amplified with modes like Movie Filter, Dual View, and Sky Remap. The rear 108MP camera excels in low-light photography. The device comes with a 6.78-inch FHD AMOLED display featuring a 120Hz refresh rate and a sleek 60° Golden Curve design. Driven by a Helio G99 processor, it facilitates seamless multitasking. The 5,000 mAh battery supports 45W Super Charging, addressing charging concerns. Storage-wise, 16GB Extended Memory and 256GB internal storage cater to HD video blogging needs. Additional features include a dual-speaker audio system, NFC connectivity, IP54 certification for resilience against water and dust, and a vacuum chamber liquid cooling system for efficient heat dissipation during resource- intensive tasks. Compatibility with rendering engines like Unreal and Unity expands its utility across different industries. The SpatialLabs Experience Center Pro, included with the device, provides practical applications and aids in streamlining workflows for creators. The display’s connectivity features, including HDMI 2.1, USB Type-C, DP 2.0, and dual USB Type-A ports, contribute to its seamless integration into various workspaces. The Acer SpatialLabs View Pro 27 is a utilitarian tool catering to the pragmatic needs of professionals seeking efficient 3D visualisation. Note: Exact specifications will vary by region.46 edge_december 2023 SONOS: Move 2 Canon’s imageFORMULA DR-S250N is a compact desktop scanner designed for modern workspaces. It offers seamless connectivity through Local Area Network (LAN) or USB and supports web scanning. This functionality allows swift connections by scanning a QR code on the device, making document sharing across a range of devices such as tablets, PCs, MacBooks, and Chromebooks a hassle-free experience. With a direct scanning function, users can establish routine workflows without a PC, sending documents directly to email or collaborative platforms. The scanner prioritises document security by ensuring scanned documents don’t linger in the device, minimising confidentiality risks. IT teams can manage users and customise settings through the active directory or LDAP address. Notably, The Sonos Move 2 is a portable speaker that’s packed with features that redefine on-the-go sound experiences. With a revamped acoustic architecture, it delivers an immersive stereo experience, thanks to dual-tweeters for expansive sound and a precision-tuned woofer for robust bass, capturing the essence of live performances. The device can seamlessly switch between streaming via Bluetooth for a personal experience or syncing with Wi-Fi to integrate into a broader Sonos system, providing a versatile and adaptable listening environment. Its extended 24-hour battery life, complemented by a USB-C port for convenient device charging, also makes it a reliable companion for outdoor escapades and road trips. Move 2 incorporates eco-friendly design elements, reducing energy consumption by 40 percent, using recycled plastics, and featuring a replaceable battery for extended product life. Its rugged construction, boasting an IP56 rating, ensures durability against drops, splashes, and the elements. gadget watch CANON: imageFORMULA DR-S250N the scanner emphasises sustainability, utilising renewable solar energy in production, incorporating reusable and biodegradable packaging, and using recycled plastics for construction. Weighing only 3.4kg, it minimises environmental impact during transportation, making it a reliable, secure, and eco-conscious choice for diverse workplace needs.edge_december 2023 47 gadget watch AMD: Radeon Pro W7700 The AMD Radeon Pro W7700 is a professional workstation graphics card designed for content creation, CAD, and AI applications. Equipped with 16GB of high-speed VRAM, this graphics card facilitates seamless handling of high-resolution models and textures, making it suitable for 3D artists and video editors. The card’s DisplayPort 2.1 support enhances colour spaces and display resolutions for video editors, while its AV1 encode/decode and AI- enhanced video encode capabilities ensure swift video production. Built on the energy-efficient AMD RDNA 3 architecture, the Radeon Pro W7700 offers up to 1.7X better price/performance compared to competitors. It excels in CAD applications, providing up to 52 percent higher performance in SOLIDWORKS, up to 24 percent higher performance in Creo, and up to 37 percent higher performance in CATIA. The multi-display support, enabled by DisplayPort 2.1 and AMD Radiance Display Engine technologies, allows users to work on up to four displays simultaneously. Additionally, the Radeon Pro W7700 features hardware-based AI accelerators, enabling professionals to run AI applications directly from their desktops. The device is designed to accelerate AI workloads in applications like DaVinci Resolve, Adobe Premiere, Topaz Labs Video AI, and more.48 edge_december 2023 review Huawei GT4: Sleek design for fitness enthusiasts T he Huawei GT4 watch is a notable addition to the world of smartwatches, offering a harmonious blend of style and functionality. With its sleek design, extended battery life, and advanced health and fitness features, it caters to a wide range of users seeking both fashion and well- being. Design and personalisation The Huawei GT4 series presents a fresh take on smartwatch design, offering options in both 46mm and 41mm sizes. The 46mm version’s octagon-shaped watch body exudes a sense of luxury and modernity, while the 41mm version By Arya Devi SMARTWATCH is all about grace and sophistication, making it a perfect accessory for various occasions. With a range of colours and watchbands available, users can effortlessly customise their watch to match their style and mood. Battery Life The standout feature of the Huawei GT4 is its impressive battery life, with the 46mm version offering up to 14 days of usage and the 41mm version up to 7 days. This extended battery life ensures uninterrupted usage, reducing the need for frequent recharging. The convenience of wireless charging and reverse charging capabilities edge_december 2023 49 review sleep quality over time. The TruSleep 3.0 feature provides comprehensive sleep-tracking data, enabling users to make informed choices about their well-being. Smart workout coach The Huawei GT4 isn’t just a fashion statement; it’s a comprehensive fitness companion. The innovative Stay Fit app assists in calorie control and weight management, offering weight control plans and calorie alerts to help users reach their health and fitness goals. Tracking workouts in the watch is also quite convenient given its easy access from the home screen and customisable exercise modes. With over 100 different sports modes, including support for niche sports like Padel, the watch caters to a wide range of fitness enthusiasts. The intelligent GNSS solution in the 46mm version ensures accurate workout tracking, whether indoors or outdoors. Bluetooth calling and messaging The Enhanced Bluetooth Calling feature with a range of up to 100 metres from the paired smartphone is a valuable convenience, allowing users to answer calls and view messages without removing their phones from their pockets. Connecting to Android and iOS GT4 is compatible with both Android and iOS phones. Though it’s a little tricky to download the Huawei Health app on Android, it is possible. adds to the overall appeal. While the GT2 featured a detachable charger compatible with any Type C charger, the latest watch doesn’t have that option which is a little inconvenient. Health and fitness features The Huawei GT4 brings an array of upgraded health and fitness features to the table. The TruSeen 5.5+ heart rate monitoring technology utilises AI algorithms to provide highly accurate heart rate readings, even under challenging conditions. The Sleep Breathing Awareness feature detects sleep interruptions and changes in blood oxygen levels, aiding users in improving Next >