Artificial intelligence is fast becoming the next big thing in the retail world. In fact, analyst firm Forrester has recently predicted that AI will grow massively in 2017, with investment trebling this year alone and Gartner predicts that by 2020 85% of customer interactions will be managed by artificial intelligence. But what does this mean for the retail industry? Well, to put it simply, it’s game changing.
The development and advancement of AI will create numerous opportunities for retailers, transforming the industry from operations to marketing to store optimisation and allowing them to improve their processes, customer service and customer experience by empowering them to generate insights on a scale like never before. And the best part? It won’t even impact end-users. That’s right, the retail industry is set to be completely transformed behind the scenes but the processes are so seamless that end users and consumers won’t even realise anything is happening.