Chinese e-commerce giant JD.com Inc. and Hong Kong-based Fung Retailing Ltd. on Feb. 2 signed a partnership agreement to set up an artificial intelligence research center and develop AI-based retail solutions, the companies said in a statement.
The companies will establish an AI boundaryless retail center to manage research and development projects relating to artificial intelligence technology.
The partnership aims to develop a new retail format for China and Asia using JD.com’s online expertise and Fung Retailing’s brick-and-mortar expertise, the news release added. The format includes seamless integration of online and offline retail platforms and enhancing consumer experience through AI-driven features such as virtual fitting, unmanned stores and smart shopping assistants.
