Artificial Intelligence (AI) in Retail and Apparel - Thematic Intelligence
Summary
The global AI market will be worth $909 billion by 2030. This report explores the applications of AI for the Retail and Apparel industries.
Artificial intelligence (AI) refers to software-based systems that use data inputs to make decisions on their own. Recent progress in machine-learning (ML) algorithms (e.g., OpenAI’s GPT-4) and increasing computing power have enabled AI to solve problems in real-time. GlobalData estimates the total AI market will be worth $909 billion in 2030, having grown at a compound annual growth rate (CAGR) of 35% between 2022 and 2030.
Retailers have been using AI for several decades, but its widespread adoption and significant impact on the industry have been more noticeable in recent years. The use of AI in retail started gaining momentum in the early 2000s, with the development of more advanced machine learning algorithms and the availability of large amounts of data.
Who should buy
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Scope
This report is part of our ecosystem of thematic investment research reports, supported by our “thematic engine”.
Reasons to Buy
This report will help you to understand AI and its potential impact on the retail and apparel industries.
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