What it means: Retail is notoriously a complex industry with networks of stores, supply chains and employees. Layer on the additional obstacles posed by e-commerce fulfillment, and the end-to-end process of retail operations becomes costly and inefficient. AI and machine learning are working to define their value proposition within retail, starting with optimizing the supply chain and improving the customer experience on the front lines. Through seamless inventory management and sales predictors, AI can streamline retail operations and predict consumer behavior with the agility to transform how retailers function.
Read on for more insights, details and what's next!
As AI becomes more cost effective overtime, retailers and brands need to lay the groundwork for optimizing inventory and supply chain as machine learning infiltrates retail front lines. AI has the potential to change how retailers can adapt and anticipate changing consumer demands in real time and quickly create strategies to meet those needs.