Global Retail Artificial Intelligence (AI) Growth Opportunities
In this research service, Frost & Sullivan examines the pivotal role of artificial intelligence (AI) in the retail sector. The study will help retailers understand the key trends in the evolving retail AI marketplace as they consider investing in cognitive capabilities. Frost & Sullivan offers insights for stakeholders by identifying AI growth drivers that will facilitate the deployment of AI-based solutions in the retail sector. The research service also examines retailers' growing focus on improving the customer experience through an omnichannel approach (using AI-powered branding and marketing solutions) and enhancing online search and discovery to target potential customers. In addition, the ravages of the ongoing COVID-19 pandemic, technological advancements, and evolving consumer demands are paving the way for the widespread adoption of retail AI technologies, especially in the eCommerce retail segment. This study also offers direction to technology vendors in terms of charting their strategic priorities and building new capabilities to capitalize on the emerging growth opportunities in the retail AI spac
- Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8™
- The Impact of the Top Three Strategic Imperatives on the Retail Artificial Intelligence Industry
- Growth Opportunities Fuel the Growth Pipeline Engine™
- Growth Environment
- AI Deployment Among Retail Firms
- Purpose for Implementing AI Solutions
- Growth Drivers
- The COVID-19 Pandemic will Drive AI Adoption in eCommerce Platforms and Online Channels
- Challenges in AI Implementation in Retail Firms
- Growth Restraints
- AI in Retail—Important Trends
- Trend 1: Rising Demand for AI-powered Branding and Marketing Solutions to Gain Insights from Unstructured Data
- Trend 2: Retailer Focus on Online Product Search and Discovery to Target Potential Customers
- Trend 3: Retailer Emphasis on Improving Customer Experience Through the Omnichannel Approach
- Growth Opportunity Analysis
- AI-related technologies deployed by retailers
- NLP is Emerging as an Underlying Technology to Support Different Retail Applications
- Chatbots and Virtual Agents are Becoming the Core of Retail Operations for Customer Interactions
- Retailers are Increasingly Using Speech Analytics to Gain Insights from Customer Interactions
- Computer Vision Tools will Play a Pivotal Role in Improving External Shopping Experiences and Internal Retail Operations
- Emotion and Sentiment Analysis will Offer Greater Insight Into Customer Behavior
- Facial Recognition Technologies will Benefit In-store Retail Operations
- Retail AI—Key Use-cases by Industry Segment (Online and In-store Retail)
- Retail AI—Key Use-cases by Function
- Retail AI—Key Use-case Categories Explained
- Company Profiles
- Company Profile—Intellias
- Company Profile—ViSenze
- Growth Opportunity Universe
- Growth Opportunity 1: Chatbots and Virtual Assistants for Effective Interaction with Customers
- Growth Opportunity 2: Integration of Augmented Reality Solutions to Enhance the Online Customer Experience
- Growth Opportunity 3: Integrating Cybersecurity Solutions to Secure Consumer Data
- Appendix
- Respondent Profile
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