There is no doubt that the retail industry is in a massive state of flux and transformation. Fast changing consumer habits, and the tectonic shift to digital, means that retailors have to adopt technology or perish. That is where technologies like AI are making an entrance.
According to a survey conducted by Infosys titled Amplifying Human Potential: Towards Purposeful Artificial Intelligence:
say they have started using AI related technologies only in the last two years
have deployed some form of AI and automation technology as part of their operations and decision-making.
What is interesting is that retailers are using AI not just for advanced data analytics, but for actually automating the decision-making process and proving guidance to human decision-makers.
Top 5 benefits that AI is driving for retailers:
Increase in productivity
Increase in revenue
More informed business decision-making
Faster resolution of business problems
For more information on everything artificial intelligence and automation in the retail industry,visit www.infosys.com/smart-automation