Artificial Intelligence in Retail: The Way of the Future

Artificial Intelligence in Retail: The Way of the Future

This IDC Perspective reviews the findings of IDC’s 2021 Worldwide Industry AI Path Survey specifically for artificial intelligence (AI) as a transformational technology in the global retail industry. AI systems support intelligent digital infrastructure transformation to improve operational efficiency, reduce costs, and improve interactions in current and new channels with a more personalized approach from learnings and insights gathered. To meet customer demands and thrive in this new era, retailers have been investing heavily in digital transformations, especially in the area of AI. Data-driven innovation with far greater personalization and automation is a strategic imperative for companies to thrive and grow in this new digital economy.“While customer data analytics and AI are becoming critical components of retailers’ business strategy, the speed of AI adoption among retailers is raising some concerns. AI is undoubtedly the way that retailers can thrive in the future, especially for those retailers that are agile enough to optimize AI capabilities enterprisewide sooner than later,” says Karen Augustine, research manager, Financial and Retail Insights at IDC.

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