In total, the retail sector lost almost 800,000 jobs during 2020, compared with about 200,000 jobs from 2017 to 2019. Read on to find out how retailers can leverage AI to engage with their customers and optimize operations. Moreover, it helps to manage inventories and increase business efficiency. Businesses with AI-powered solutions can gain more customers, centralize processes, and improve the personalized customer experience. With AI, retailers can gain a competitive advantage. It keeps improving efficiency, speed, and accuracy with advanced data and predictive analytics technologies to assist retail businesses in making data-driven decisions. ĪI will play a significant role in driving the various aspects of the digital retail industry. AI in retail is expected to develop tremendously over the next few years, with the market reaching around $24 billion by 2028. Discover the hidden capabilities of AI for your retail store.įor years, the retail business has been undergoing change.
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