IBS to deploy Artificial Intelligence in jewellery retail

MUMBAI: Intelligent Business Systems (IBS), the Artificial Intelligence (AI) software specialist firm, and Krysaliis, the Indian jewellery major, today announced a tie-up that is likely to have wide-ranging impact in the jewellery retail trade, and forever change the concept and face of the neighbourhood jewellery store in India and elsewhere around the globe.

With its AI Enterprise Solutions, Intelligent Business Systems will enable Krysaliis to bring the exclusivity of “haute couture” jewellery—hitherto available only to the rich and famous—down to more affordable “prêt-à-porter” (readymade) lines and designs, within the reach of a wider audience, yet without any compromise on style or quality.

IBS said in a statement that it has so far implemented its Artificial Intelligence Enterprise Solutions and proprietary ICPA Engine within Europe in sectors spanning travel, tourism, pharma, government, etc. The same superior functionality in end-to-end enterprise management systems and AI-based customer profiling and relationship management will now be made available to Krysaliis, enabling the jewellery manufacturer to hone in to its target market with accuracy, dynamically optimising its inventory based on fashion trends and local demographic considerations at various stores in the chain.

IBS will be taking charge of the entire technology backbone for Krysaliis, and among the key AI Enterprise Solutions to be deployed will be REMS (Retail Enterprise Management System) and ICPA (Intelligent Customer Profiling and Advertising), the statement added.

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