Aslak, the CEO of Selfly Store, has been utilizing artificial intelligence (AI) to drive innovation and efficiency within the vending industry. Through his experiences at events like the NAMA Show 2024 and VendItalia, and working with customers in over 20 countries, he has identified five key ways to take advantage of AI in the vending business.
The first way is predicting demand, where AI is used to collect and preprocess relevant data such as location data, demographics, and sales trends. Algorithms like time-series analysis and machine learning models are then employed to predict sales trends and identify patterns and correlations. This can help optimize vending machine operations and inventory management.
Another way AI can be used in vending is to enhance operational efficiency through advanced route planning and inventory management. AI-driven telemetry allows for remote monitoring and maintenance of vending machines, leading to improved uptime and reliability. By equipping machines with IoT sensors, operators can proactively address maintenance issues before they impact the business.
AI’s capabilities in vision-based technologies for item-level detection is another avenue to utilize this technology. By training cameras to recognize new items accurately, AI can help prevent shrinkage and improve inventory tracking. This includes implementing a human verification process to ensure the AI’s decisions are accurate.
Fraud prevention is a significant concern in the vending industry, and AI algorithms can be utilized to detect abnormal behavior and flag potential fraudulent users. By analyzing purchasing data and user behavior data, AI can identify patterns and anomalies indicative of fraud and protect the business’s profitability.
AI can also enhance customer service and experience in the vending industry through generative AI tools like chatbots and virtual call centers. These tools can provide instant support to customers, enhance satisfaction, and ensure high service levels without continuous human intervention.
While adopting AI for operational efficiency in the vending industry offers significant benefits, operators must consider critical factors such as data quality and integration, hardware constraints, real-time processing, scalability, user training, regulations, and system maintenance. Overall, AI is a transformative force driving efficiency, revenue growth, and customer satisfaction in the vending industry. Those who leverage these technologies will be well-positioned to lead in a competitive market.
