The role of data in the retail industry has grown considerably with the rise of global e-commerce and mobile commerce, especially amidst the dynamic market conditions of the COVID-19 pandemic. Retail giants are benefiting from a streamlined checkout process, specific targeted ads and personalised promotions and innovative ways to leverage data with ML and AI algorithms that increase the likelihood of converting casual frequent and nonfrequent browsers into regular – and even lifetime – customers. Unfortunately, with the power of customer data comes corresponding risk. In a recent survey by McKinsey consumers responded that their primary concern is to know in advance what types of data they share – and with whom. Consumers request more personalised experience with targeted recommendations aggregating data from several other retailers. Due to the strict regulations, retailers do not share customer data with other retailers thus their recommendations are limited since they rely upon the historical data coming from a client’s purchases.
TANGO will leverage the strong privacy preserving framework equipped with advanced security features and through the provision of federated learning techniques applied in several retailers will assist them on achieving more personalised shopping recommendations as per their clients’ needs. XAI techniques will be employed for retailers in order to provide them the full path of the produced recommendations. Data tokenisation methods will be demonstrated to allow highly accurate and personalised recommendations without revealing customers’ identity and personal data. In the table below the technology offerings for each use case are listed.