AIF-C01 Question 31
Select 3A retail company wants to enhance its customer experience by using AI. They aim to provide personalized product suggestions, detect fraudulent transactions, and predict customer demand to optimize inventory. Which of the following AI applications can help achieve these goals?
- A
Recommendation systems
- B
Fraud detection
- C
Natural Language Processing (NLP)
- D
Forecasting
- E
Computer vision
Show answer and explanation
Correct answers: A, B, D
Explanation
The retail company’s goals align with specific AI applications. Recommendation systems help provide personalized product suggestions, fraud detection ensures secure transactions, and forecasting predicts customer demand to optimize inventory. While NLP and computer vision are valuable AI technologies, they do not directly address the goals in this scenario.
- A. Correct.
Recommendation systems are highly effective for providing personalized product suggestions by analyzing customer behavior and preferences.
- B. Correct.
Fraud detection is used to identify anomalies in transactions and prevent fraudulent activities, aligning with the company’s goal of preventing fraud.
- C. Incorrect.
Natural Language Processing (NLP) is primarily used for text-based applications like chatbots or sentiment analysis, which is not directly related to the stated goals of the company.
- D. Correct.
Forecasting is useful for predicting customer demand, allowing the company to optimize inventory levels effectively.
- E. Incorrect.
Computer vision is mainly used for image and video analysis, which is irrelevant to the stated goals of personalized suggestions, fraud prevention, and demand forecasting.