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NORTHWEST RETAIL NEWS

Monday June 24 2019

Picture perfect image recognition technology in businesses




Picture perfect image recognition technology in businesses

Some of the technologies that seem uncomfortably futuristic could be rolling out across our day to day lives, and image recognition systems will certainly be one to look out for. By 2021, it’s predicted that the global image recognition market will be worth $38.9 billion. Clearly, this technology is growing in use and demand — but why?

Image recognition technology can be used for a variety of purposes, by businesses in near enough every sector. From improving the customer experience to streamlining operational procedures, Precision Printing explores how the software works and why it could enhance business.

Image recognition technology — the basics

With this software, pictures and other high dimensional data formats can be retrieved, interpreted and stored. It takes this from the ‘real world’ and produces useful information in multiple formats. This could be anything from uploading a photo of a group of friends to Facebook that automatically tags each person to their accounts, to taking a digital fingerprint scan in order to determine a person’s identity.

The goal for image recognition is essentially to replicate the capabilities of human sight — and there’s never been a more appropriate time for its development, as 80% of the content we see online is visual.

How is it transforming customer engagement and business processes?

A wide range of businesses can use image recognition to their advantage. Many companies now have a digital presence, whether on social media or via an online store. A major advantage of this technology is that it can offer real-time insights into consumer behaviour — but not only your consumers. Visual analytics will allow you to monitor the consumer behaviour of your competitors, which will allow you to address their concerns within your own campaigns and potentially attract them to your brand instead.

Imagine having a set of digital eyes which could keep check on the work and content of your competitors? With image recognition software, you can now find similar content to what your brand is putting out on social media and track down social mentions of your company — no more manual, time-consuming searches. Not only will this help you monitor the competition in your industry, but it will also allow you to be more responsive to marketing opportunities that would otherwise have been missed and pick up on trends that may be flying under the radar.

Digital apps are an ever-popular choice for brands — and the predicted global gross app revenue will hit $102 billion by 2020, making it a prime time to head to a developer with your digital goals. Clearly, there is money to be made and customers to be won with apps, but how does image recognition assist? This technology can help brands boost engagement levels with their consumers, letting them extend beyond the standard boundaries of online and offline and making the app more immersive. As a result, promotional material and discount offers should be able to pack a greater punch and potentially offer a greater ROI.

Industries and image recognition

With this in mind, let’s look at how image recognition technology is already being used in various industries:

Fashion

The fashion industry and image recognition technology go hand in hand, and it has already delivered impressive results for numerous retailers. Firstly, a consumer, when leafing through a magazine, can use image recognition software on their mobile devices to scan a product they’re interested in and land straight onto its product page or relevant online marketing content, which could increase the chances of a conversion. Similarly, consumers can upload images of clothes they like and shop online for similar or complementary products — streamlining the shopping experience.

Trends are constantly changing, and image recognition technology is already being developed to pick up on the fast-paced nature of the fashion industry. If you are interested in checking out the latest in digital trends in the fashion industry you can download Mediaworks fashion retailers 2019 white paper here.

Automotive

Image recognition technology also looks set to take the automotive industry up through the gears. Self-driving vehicles are an emerging market and they’re being developed with the assistance of image recognition. To ensure that self-driving cars are safe, they need to be able to detect hazards immediately and make informed decisions regarding their next action to avoid causalities. That’s where image recognition comes in. With this technology, self-drive car sensors will be able to spot dangers on the road in the same way as a human motorist does, reacting in a way that should avoid crashes and accidents.

While self-driving vehicles have always been reserved for fiction in the past, image recognition is helping to make them a reality in the industry — and manufacturers are getting ahead of the crowds by incorporating it into their autonomous strategies.

Healthcare

The healthcare sector may be able to alleviate the workload of doctors and nurses in the future, with some help from image recognition technology. Already, image recognition is being used to help process the huge numbers of medical images that need verifying and checking in the sector. As a result, doctors can diagnose conditions and diseases at faster rates and with great accuracy, meaning less stress for the patient and easing the pressure on the doctor when it comes to arranging the best course of action.  

 

The potential uses of image recognition technology could enhance the day-to-day practises of businesses in every sector. Are you clued up on how it can help your brand in 2018?

 

This article was brought to you by digital printing specialists, Precision Printing,

 

 

Sources:

https://mobgen.com/image-recognition-can-beneficial-company/

https://www.upwork.com/hiring/data/how-image-recognition-works/

https://www.itproportal.com/features/a-guide-to-ai-image-recognition/

 



"The goal for image recognition is essentially to replicate the capabilities of human sight "
Precision Printing








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