AI has numerous positive uses in our everyday lives, and point-of-sale systems are no exception. Restaurant owners all around the globe have started to use Artificial intelligence in point of sale for the amazing benefits that it offers. From streamlining the operations in your restaurant to increasing sales and profit, AI-enabled POS has made life easier for businesses and consumers.
Find out how AI is going to transform the point-of-sale (POS) market by reading on.
How Does an AI POS System Work?
This cutting-edge technology is essential to the POS market’s future because nothing compares to AI’s wide range of applications and capabilities. Artificial intelligence-powered point-of-sale (POS) systems enable more sophisticated payment processing and labor-saving employee management features. They can also contribute to delivering superior, more customized customer experiences.
Streamlining Orders
Lately, artificial intelligence has grown to be a major force in the point-of-sale industry. The ability of AI POS systems to quickly and effectively handle a variety of payment methods is one of its main advantages:
- Online payments
- Mobile app payments
- Chat payments
- Social app payments
- In-store payments
These artificial intelligence point-of-sale systems eliminate human error and offer a consistent experience every time because they rely on cutting-edge technologies rather than manual labor.
Employees can engage with customers more directly and offer a more tailored experience if they delegate this repetitive payment processing work to technology.
Time Management and Scheduling
Additionally, complex scheduling tasks that were previously overwhelming and time-consuming can now be handled by AI POS systems. They can effectively oversee your staff and their work schedules, giving restaurant owners more time and boosting output all around.
Customer Behavior and Preferences
Artificial intelligence-powered point-of-sale (POS) systems can identify patterns in product and sales and, when necessary, suggest promotions, upsells, and modified prices. The metrics and return values on these upsells can then be automatically tracked by them, providing a more thorough understanding of customer preferences and spending patterns.
It has been demonstrated that self-ordering POS solutions like kiosks and AI-powered online ordering shorten lineups, cut down on wait times, and boost sales. AI point-of-sale (POS) systems can also offer distinctive perspectives on how customers are behaving and even suggest which customers should be reconnected with.
The tracking and trend analysis features of artificial intelligence-powered point-of-sale (POS) systems make new marketing and restaurant promotions more successful. Smart Data Collective even discovers that traditional, AI-free marketing campaigns are up to 20% less successful than marketing campaigns driven by AI POS systems!
Inventory Tracking
Artificial intelligence-powered point-of-sale (POS) systems can even help to completely eradicate losses by precisely tracking inventory and placing orders based on current supply levels and sales. Long days spent counting inventory in the stockroom will no longer be necessary because they can use this information to apply auto-restock capabilities and inform future restock orders.
AI’s potential in the restaurant and retail industries is only growing, and these aspects will all get better over time. What, however, are the major moves that AI in the POS market will take going forward?
AI and the Future of the POS Market
Even though AI capabilities have already advanced significantly, new features that will soon be standard for consumers are being developed.
Facial Recognition
Facial recognition software for self-ordering kiosks is a logical next step. Artificial intelligence (AI) in facial recognition has great potential to identify age, gender, and other characteristics that might influence what a person would order at a given time.
By using a person’s profile to identify them, facial recognition can remember their past purchases, make targeted recommendations, and increase sales and security while offering a more customized experience.
Voice Ordering
By 2017, almost half of Americans were using digital voice assistance on their smartphones, and the percentage is still growing. Soon, conversational ordering kiosks utilizing cutting-edge AI for noise cancellation will make their way into the retail and restaurant industries, suppressing background noise and comprehending patron preferences. These AI POS systems can interact with customers at a high level (and hands-free) thanks to this technology.
Voice-assistant technology is noticeably preferred by consumers because the spoken language is frequently the most natural. This highlights the advantages of conversational AI and its potential uses in restaurants, underscoring the revolutionary nature of this soon-to-be technology.
How Does AI Benefit the POS Market?
Even though the full benefits of artificial intelligence-enabled point-of-sale (POS) systems are still to be discovered, the following points highlight how the POS market is anticipated to represent a significant advancement in AI technology:
accelerated scheduling and task management
- Combined payment handling
- Less work for the staff
- Getting rid of human error
- Enhanced capabilities for ordering supplies and managing inventories
- Thorough monitoring and assessment of customer satisfaction
The restaurant and retail industries have a lot to gain from AI’s constant advancement. According to an Adobe survey, 31% of companies said they would use AI within the next 12 months. Merchants need to stay on top of trends, implement AI POS, and keep an eye on the development of AI-powered point-of-sale (POS) technology to stay ahead of the competition and provide the most effective and optimal customer experience.
The advantages of conversational AI surpass those of any existing technology, and AI will soon play a major role in the point-of-sale industry. There’s no doubt that we will benefit from conversational AI restaurants in the future of the food industry.
Ready to experience our solutions in action? Book a demo with eatOs to see how we can elevate your business!
