Along with so many things, retail is undergoing a significant and accelerating shift. Inside Big Data brought this information to our attention in their article, “How AI is Being Applied to Retail: Deep Learning Brings Superpowers to eCommerce with Companies like Wish and RTB House Leading the Charge.“
As consumer spending behaviors move online, traditional and online retail outlets are in a race to adopt and develop emerging technologies. In a digital era where consumers are constantly seeking personalized products and services, artificial intelligence (AI) solutions in retail are helping retailers align their offerings with the expectations of their customers.
AI has the potential to transform every aspect of retail businesses by replacing intuition with intelligence and can give retailers some foresight for the future. However, business leaders need to be pragmatic in their approach when implementing AI. They need to understand that it is a capital-intensive technology and that it shows results in the long run.
Melody K. Smith
Sponsored by Access Innovations, the world leader in thesaurus, ontology, and taxonomy creation and metadata application.