ADVERTISEMENT
  • News
  • New York
  • Technology
  • Culture
  • Entertainment
  • Sport
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Tuesday, May 13, 2025
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
Home Tech

Lotte Announces Agreement with IBM to Leverage Watson for Retail

The FINANCIAL by The FINANCIAL
December 21, 2016
in Tech
Reading Time: 3 mins read
8
A A
0
IBM posts weaker Q2 profit
Share on FacebookShare on Twitter

The FINANCIAL — IBM on December 20 announced it has signed an agreement with the Lotte Group to provide cloud-based IBM Watson solutions to help the Group deliver innovation across the business and become a world-class retail company.

Lotte Group represents the country’s largest retailer in a highly competitive retail market and is one of Korea’s top five companies, providing products and services to its customers through online channels, mobile services and offline department stores, marts, convenience stores and duty-free shops. 

Lotte Group will use Watson technologies to maximize insights from the huge amount of structured and unstructured customer data collected through its various channels, including the Lotte Members program, deriving valuable learnings about customer preferences and product feedback. With a deeper understanding of its data, Lotte will be enabled to offer more personalized services to customers, consistent product information and expert advice tailored to individual customer needs, according to IBM.

RelatedPosts

Rising Demand for Cybersecurity in Real-Time Operating Systems (RTOS)

AI and Emerging Technologies Dominate Private Market Investment Amid Market Uncertainty

The interplay of social media censorship, free speech, and foreign interference

Not Just a Sporting Event, but Also a Technological Test: Insights into the World’s First Human-Robot Co-Run Marathon

Lotte Group CEO Hwang Gak-gyu said, “We have selected IBM as our partner to fulfill Lotte Group’s commitment to contribute to the development of Korea’s national economy and retail industry by responding to a rapidly changing business environment. With cognitive technology, Lotte will deliver new value and innovation for the future. Over the years, IBM has consistently made long-term investments in cognitive computing which is backed by a broad portfolio of industry solutions and services from consulting to enterprise-class computing, system integration and IT operations.”

This agreement prioritizes two “Artificial Intelligence Innovation Themes” for which to apply Watson. Lotte and IBM will team to create an ‘Intelligent Shopping Advisor’ for customers and an internal employee ‘Cognitive Business Decision Advisor’ for the Group’s retail affiliates.

The ‘Intelligent Shopping Adviser’ will be first introduced to Lotte’s department stores. Customers will have their own virtual personal assistant offering help from product recommendations, shop location guidance, to support for online pickup service. Customers will benefit from greater convenience and an enhanced customer experience as they interact, in natural language, with a service that understands the questions asked, in the context of the individual shopper’s needs.

See also  AI and Emerging Technologies Dominate Private Market Investment Amid Market Uncertainty

For example, a shopper can ask a question like “my 12-year-old daughter’s birthday is next week. She likes reading and fashion, what is popular now and how can I purchase this gift?” The service will be designed to offer tailored recommendations, transaction support, advance notifications for customer’s important life events and learn to recognize an individual’s interests. With relevant choices and purchase knowledge, customers will not need to search and save their time and resources.

In combination with the ‘Intelligent Shopping Advisor’, Lotte will adopt a ‘Cognitive Business Decision Advisor’ that employees can leverage for new product development across the organization. Using Watson technologies, Lotte will gain new insights for better decision making with the analysis of huge amounts of data from various sources like social media, blogs, news articles and customer data from point of sale terminals.

IBM will collaborate with teams from the Lotte Information & Communications and the Lotte Members affiliates for IT system support services, data integration and data analysis. Within the next five years, Lotte plans to build and upgrade its artificial intelligence-based application for business innovation to support personalized services throughout the customer life cycle. These initiatives are part of Lotte Group’s technology roadmap to expand the introduction of IBM Watson to all affiliates from retail to food, chemical, tourism and finance.

“IBM is committed to helping our clients accelerate the development and delivery of cognitive computing on cloud into markets and industries where we can see tremendous opportunity. Together, Lotte and IBM are bringing Watson cognitive technologies to an important business challenge in the Korean market and globally – innovative, more personalized customer services,” said IBM Korea General Manager Jeffrey Rhoda.

 

Related Posts

Cybersecurity spend tops US$10 billion in Q4 2018 as new deployment models gain traction
Tech

Rising Demand for Cybersecurity in Real-Time Operating Systems (RTOS)

by The FINANCIAL
May 6, 2025
0

Real-Time Operating Systems (RTOS) are increasingly being used in safety-critical applications such as medical technology, the automotive industry, and aerospace....

Read more
You Might be Older or Younger Than you Think

AI and Emerging Technologies Dominate Private Market Investment Amid Market Uncertainty

April 23, 2025
The interplay of social media censorship, free speech, and foreign interference

The interplay of social media censorship, free speech, and foreign interference

April 23, 2025
Not Just a Sporting Event, but Also a Technological Test: Insights into the World’s First Human-Robot Co-Run Marathon

Not Just a Sporting Event, but Also a Technological Test: Insights into the World’s First Human-Robot Co-Run Marathon

April 11, 2025

Discussion about this post

  • Trending
  • Comments
  • Latest
How serious do Britons think an India-Pakistan war would be?

How serious do Britons think an India-Pakistan war would be?

May 7, 2025
How India and Pakistan Became Nuclear-Capable Countries

How India and Pakistan Became Nuclear-Capable Countries

May 7, 2025
Ampersand wins £22m five-year contract at London Zoo

Ampersand wins £22m five-year contract at London Zoo

June 25, 2012
Met Gala 2025: A Night of Black Dandyism and Sartorial Splendor

Met Gala 2025: A Night of Black Dandyism and Sartorial Splendor

May 6, 2025
PwC: Policymakers Must Offer Clarity and Coordination to Secure Net-Zero

PwC to Cut 1,500 U.S. Jobs as Part of Strategic Workforce Adjustment

May 6, 2025
U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

May 13, 2025
Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

May 13, 2025
How India and Pakistan Became Nuclear-Capable Countries

How India and Pakistan Became Nuclear-Capable Countries

May 7, 2025
How serious do Britons think an India-Pakistan war would be?

How serious do Britons think an India-Pakistan war would be?

May 7, 2025
Homes Sold Faster than Ever in 2017

Tariffs Spur Home Improvement Shock: ‘Prices to Skyrocket,’ Expert Warns

May 7, 2025
ADVERTISEMENT

Popular Last 24h

  • Ampersand wins £22m five-year contract at London Zoo

    Ampersand wins £22m five-year contract at London Zoo

    3284 shares
    Share 1314 Tweet 821
  • How India and Pakistan Became Nuclear-Capable Countries

    63 shares
    Share 25 Tweet 16
  • The London Diplomatic List, Addresses, Contacts & Working Hours

    2974 shares
    Share 1190 Tweet 744
  • FILE: The Bagramyan Battalion

    28 shares
    Share 11 Tweet 7
  • Lutz-Jesco GmbH Acquires FXM Line of Peristaltic Pumps from Valmet

    38 shares
    Share 15 Tweet 10
  • Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

    10 shares
    Share 4 Tweet 3
  • Soft2Bet is inviting talents to shape the future of iGaming

    108 shares
    Share 43 Tweet 27

LATEST POSTS

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

May 13, 2025
Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

May 13, 2025
How India and Pakistan Became Nuclear-Capable Countries

How India and Pakistan Became Nuclear-Capable Countries

May 7, 2025
How serious do Britons think an India-Pakistan war would be?

How serious do Britons think an India-Pakistan war would be?

May 7, 2025
Homes Sold Faster than Ever in 2017

Tariffs Spur Home Improvement Shock: ‘Prices to Skyrocket,’ Expert Warns

May 7, 2025
Protected: REITs vs. Stocks: Which Offers Better Long-Term Growth for Real Estate Investors?

Protected: REITs vs. Stocks: Which Offers Better Long-Term Growth for Real Estate Investors?

May 7, 2025
Turkcell and Huawei Complete World’s First LTE Spectrum Coordination on a Commercial Network

Huawei Digital Power’s All-Scenario Grid Forming ESS Accelerates the Global Energy Transition and Construction of New Power Systems

May 7, 2025
How Much Is the Average Slip and Fall Settlement in California?

How Much Is the Average Slip and Fall Settlement in California?

May 7, 2025
PwC: Policymakers Must Offer Clarity and Coordination to Secure Net-Zero

PwC to Cut 1,500 U.S. Jobs as Part of Strategic Workforce Adjustment

May 6, 2025
Cybersecurity spend tops US$10 billion in Q4 2018 as new deployment models gain traction

Rising Demand for Cybersecurity in Real-Time Operating Systems (RTOS)

May 6, 2025

LATESTBUSINESS

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

by The FINANCIAL
May 13, 2025
0

Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

by The FINANCIAL
May 13, 2025
0

Homes Sold Faster than Ever in 2017

Tariffs Spur Home Improvement Shock: ‘Prices to Skyrocket,’ Expert Warns

by The FINANCIAL
May 7, 2025
0

Turkcell and Huawei Complete World’s First LTE Spectrum Coordination on a Commercial Network

Huawei Digital Power’s All-Scenario Grid Forming ESS Accelerates the Global Energy Transition and Construction of New Power Systems

by The FINANCIAL
May 7, 2025
0

PwC: Policymakers Must Offer Clarity and Coordination to Secure Net-Zero

PwC to Cut 1,500 U.S. Jobs as Part of Strategic Workforce Adjustment

by The FINANCIAL
May 6, 2025
0

Global tech innovation initiative unlocks Singapore as key growth market for international startups

Lutz-Jesco GmbH Acquires FXM Line of Peristaltic Pumps from Valmet

by The FINANCIAL
May 6, 2025
0

BMW Group sources aluminium produced using solar energy

Global solar PV growth expected to slow to 10% in 2025, reaching 655 GW new installations

by The FINANCIAL
May 6, 2025
0

Turkish Exporters Could Face Steep Extra Costs Under New EU Carbon Rules

Global Port Volumes Pressured by Trade War, Economic Slowdown

by The FINANCIAL
May 6, 2025
0

GET IN TOUCH

Submit guest post/Letters to the Editor:

editor (at) finchannel.com

Sales & Marketing: (+995 558) 03 03 03 Email: marketing (at) finchannel.com

Whatsup: (+995 599) 96 52 52

Georgia:

(+995 599) 96 52 52 Email: editor (@) finchannel.com

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2025 Intelligence Group llc

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.