Retail and AI: How Artificial Intelligence Is Changing the Industry

With time-poor consumers, grocery shopping is a hectic but necessary chore. Retailers provide a huge array of choices for every type of product from cereal to dish soaps. With so many options available, grocery shopping can be an overwhelming experience. How can any type of retailer ensure that their customers get the products they need while also having a positive and enjoyable experience? AI has the solution. 

41% of retailers plan to invest in AI and machine learning solutions in the next year, according to Coresight Research. This is driven by needing to anticipate changes in consumer shopping behaviors and preferences, households forgoing the big, weekly stock up in favor of smaller, more frequent trips and the rise of e-commerce. 

Every product and every shopper provides data that a retailer can leverage, using AI to create positive shopping experiences, thus selling more of the products that people want and need. This is the time to embrace AI and make every piece of that data count. 

With AI, retailers can efficiently forecast the optimum level of staff so that there's always excellent customer focus. AI can help them anticipate product demand so that products are readily available for purchase. And to ensure retailers at the same time increase the operational efficiencies to ensure a frictionless customer experience. 

Become an AI-driven retailer today by downloading the eBook, Retail and AI: How Artificial Intelligence is Changing the Retail Industry

 

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About the Author:

Paul Winsor is the General Manager of Retail for DataRobot. He has been a leader in the industry for more than 30 years. His expertise lies in helping retailers embrace AI and leverage to improve profitability, grow and become more efficient and customer-focused.