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fabric expands AWS partnership to augment retail with AI

Monday 16 September 2024 14:43 CET | News

US-based commerce platform fabric has expanded its partnership with AWS to change the way retailers operate, accelerate innovation, and make decisions with the help of AI.

 

fabric partners with AWS

Retail companies rely on fabric’s platform to orchestrate seamlessly the commerce order lifecycle from product information to real-time inventory through order fulfillment. This partnership will unlock even more value for commerce operators, including new, cutting-edge use cases powered by AI and an AI-powered commerce assistant which will guide supply chain managers, merchandising managers, and customer service representatives.

Through Amazon Bedrock, fabric is utilising AWS large language models (LLMs) to build new AI features for commerce on its modern composable platform. With fabric’s AI-powered assistant and AWS, retailers benefit from these AI-driven capabilities such as:

  • Taking action with insights and recommendations on how products, inventory, and order fulfilment are performing;

  • Optimising and automating order orchestration, fulfilment, and inventory allocation;

  • Improving conversion by enriching product data across descriptions and attributes;

  • Streamlining how they onboard suppliers' 3PP data to grow their product offerings quickly.

AI adoption as a key to retail success

According to survey data by Gartner, 92% of businesses are aiming to implement AI-powered solutions in an environment where cost efficiency is a priority. This underscores the increasing awareness of AI’s ability to transform operations, enhance output, and support more informed strategic decisions. Additionally, 52% of buyers are focused on making strategic software investments aimed at boosting productivity and efficiency. Businesses utilising AI tools are expected to improve operations, optimise resource use, and achieve a competitive advantage in challenging economic times. AI is a potent solution for overcoming these challenges.

Officials from fabric said that by integrating an AI-powered assistant into the fabric platform, we’re enabling commerce operators to orchestrate every step of the order process from real-time inventory availability to optimised fulfilment, driving efficiency and better customer outcomes. In the modern market, it’s not enough to keep up. To win retailers need the power to automate tasks and make smarter, faster decisions that accelerate growth.

Representatives from AWS stated emphasised AI’s unprecedented value for commerce operators by making it easier to interact with the disparate data that exists in their organisation enabling them to deliver exceptional customer experiences. They’re happy to work with fabric to get AI into the hands of more users in the retail space, helping to transform critical areas like merchandising, inventory management, fulfilment, and beyond.


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Keywords: retail, artificial intelligence, LLM, ecommerce, data
Categories: Payments & Commerce
Companies: Amazon Web Services, fabric
Countries: World
This article is part of category

Payments & Commerce

Amazon Web Services

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