One company is making a splash in the retail space by using artificial intelligence to cut the number of online shopping-related item returns.
Since 2014, MySizeID has developed an algorithm that learns the habits and measurements of the consumer, saving retailers between 30 to 50% on the returns of the item.
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During a recent appearance on “Varney & Co.,” MySizeID CEO Ronen Luzon explains why artificial intelligence is the key to future returns, an issue that has plagued the e-commerce industry for years.
Through A.I., MySizeID informs the consumer as to what size the requested item would most likely be for their body type, helping them find the perfect fit.
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“We actually recommend to the consumer what size they really need in that particular item. So if you select large, for example, and we think you need a medium, we alert you…
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