Machine learning has the power to revolutionise the jewellery retail industry, and the Gem and Jewellery Skill Council of India (GJSCI) in collaboration with IIT-Bombay is at the forefront of this transformation. On March 27th, 2023, GJSCI and IIT-Bombay organised a one-day workshop on the “Application of Machine Learning in Jewellery Retail Business Analytics” to provide practical knowledge and insights into the latest machine learning techniques and their applications in the jewellery retail industry.
The GJSCI and IIT-Bombay workshop covered various topics, including data collection and pre-processing techniques, ML algorithms and techniques for predictive analytics, and case studies on the successful implementation of ML in jewellery retail businesses. It also spoke about the difference between AI and ML and how machine learning models can learn from data.
The GJSCI workshop was conducted by project head Prof. Asim Tewari from IIT-Bombay, who has extensive experience in the field of machine learning and jewellery retail business analytics. Participants had the opportunity to hear from experts and gained first-hand information in implementing ML models for real-world problems.
This workshop was designed for jewellery business owners, CEOs, Chief Marketing Officers, Senior Managers, and Retail Sales Heads looking to leverage the latest technology to improve their operations and gain a competitive advantage in the marketplace. Participants were given an opportunity to understand how machine learning can be used to gain valuable insights into customer behaviour, optimise inventory management, and improve sales forecasting.