Artificial Intelligence – Opportunities in Retail
16% of retailers already use some form of AI, 20% plan to add it over the next 12 months, and another 18% will implement it starting a year from now.
Artificial intelligence has a long way to go in terms of uniform and consistent adoption in retail, but the opportunity it presents is significant and real. AI and machine learning will enable retailers and suppliers to enhance many functions, from executing highly personalized offers and predicting the most relevant items to add to an assortment, to more intelligently allocating trade fund dollars, increasing forecast accuracy and foreseeing out-of-stock incidences.
In collaboration with EIQ Research Solutions, this report examines the top applications for AI in retail, where retailers are investing and the expected returns.