Lotte Group to make bigger push in AI retail

2018.11.14 11:47:25 | 2018.11.14 11:47:53

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South Korea¡¯s retail giant Lotte Group has set out to make artificial intelligence (AI) a transformative force across its vast retail network that ranges from convenience stores to supermarkets.

Lotte Data Communication Co., an information communication unit under Lotte Group, unveiled 87 new technologies in manufacturing, logistics and retail at a seminar on Tuesday.

¡°We plan to share our solutions with group affiliates and outside companies to establish ourselves as an innovative leader in digital technology,¡± said Ma Yong-deuk, chief executive of Lotte Data Communication.

Lotte¡¯s annual information strategy seminar is a group-wide event that began in 2005, where CEOs and top management in information and security across the Lotte network gather to share the latest digital technologies.

Also in attendance was Shin Dong-bin, chairman of Lotte Group, who was released from jail last month after the appeals court suspended his sentence. Shin had been detained since February over bribery charges in an influence-peddling scandal that ousted former President Park Geun-hye from office. With Shin¡¯s return, the group has been rapidly getting its business plans back on track. It recently pledged to spend 50 trillion won ($44.2 billion) over the next five years to drive the digitalization of the retail sector and ramp up its chemical facilities.

Shin Dong-binÀ̹ÌÁö È®´ë

Shin Dong-bin

Lotte Data Communication unveiled a host of new solutions designed to improve the shopping experience.

One of them is the image recognition platform ARA, which tracks the behavior of shoppers - their shopping paths, what brands they pick up, what information catches their eye, and how much time they spend on each product - to help companies customize their marketing strategies.

In a solution designed specifically for foreigners, a shopper can take a picture of a product and a voice assistant will instantly provide information about the product, like its name, price and flavor, in the shopper¡¯s respective language.

A product recommendation solution called ALIDO analyzes online shopping patterns based on machine learning technology to recommend relevant items to users.

An AI robot that recognizes customers¡¯ faces and recommends their favorite menu is currently on trial in Lotte¡¯s 7-Eleven Signature outlet, Korea¡¯s first unmanned convenience store where customers can make a purchase with a simple palm scan. Lotte Group said it plans to expand the AI robot to other convenience stores and fast food restaurants within its network.

By Lee Sun-hee and Kim Hyo-jin

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