Chinese ecommerce giant JD.com and member of Fung Group, Fung Retailing, have teamed up to develop a new artificial intelligence based retail solution.
According to the agreement, the two companies will work together to develop a new retail system in China and Asia that integrates online and offline retail platforms, developing an end-to-end system that enables the management of products, pricing, storage, order and payment.
The businesses will also develop technology such as virtual fitting, unmanned stores and smart shopping assistants.
Sabrina Fung, group managing director of Fung Retailing said: “When it comes to the future of retail, and driving the customer experience, AI is an essential component. Across our retail portfolio, AI is a focal point and this co-operation with JD will, without doubt, accelerate our progress.”
This week JD.com committed to selling £2bn worth of British goods to its customers in the next two to three years.