Chinese e-commerce giant JD.com elevates the art of retailing with AI research centre
Chinese online retailer teams up with Hong Kong’s Fung Retailing to develop AI solutions that will benefit both companies and enhance customer experience
JD.com, one of China’s major online retailers, said on Friday that it has signed an agreement with Hong Kong’s Fung Retailing, which oversees over 3,000 stores in both Hong Kong and overseas, to develop artificial intelligence-driven retail solutions and build an AI retail centre.
The centre will oversee and manage cooperative research and development projects between the two companies, as well as facilitate the sharing of information and expertise related to AI between them, the company said in a statement on Friday.
“As one of the largest retailers in the world, we believe that figuring out how to deploy AI solutions is critical to our future success,” said Bowen Zhou, vice-president and head of AI and research at JD.com. “Drawing on Fung Retailing’s global offline retail expertise, this partnership will be important for us as we deliver our retail vision.”
In addition to the AI retail centre, the two parties would also build an AI-driven retail system that could integrate online and offline retail platforms “seamlessly”, as well as the development of an end-to-end system that enables the management of products, pricing, storage, order and payment.
Meanwhile, the development of virtual fitting, unmanned stores and smart shopping assistants would also be on the agenda for the two firms, it said.
“When it comes to the future of retail, and driving the customer experience, AI is an essential component,” said Sabrina Fung, group managing director of Fung Retailing. “Across our retail portfolio, AI is a focal point and this cooperation with JD will, without doubt, accelerate our progress.”
