Big Growth in AI Predicted for Retail

Artificial intelligence’s impact on retail is likely to widen and deepen this year, especially in brick-and-mortar settings, says a member of the Forbes Technology Council.

“Retailers are focusing on brick-and-mortar innovation in their battle for efficiency in difficult economic conditions,” writes Krishna Motukuri, CEO and Cofounder of Zippin, a provider of checkout-free technology. “The adoption of AI can prove to be a key driver of differentiation between competitors in a variety of ways…”

For instance, AI will increasingly be used for customer service, providing personalized assistance and recommendations to shoppers in real time. In addition, AI-powered visual search and image recognition technology will become more prevalent, allowing customers to easily find products by taking a picture or uploading an image. AI will also be used to create immersive virtual reality environments for customers to explore products.

Behind the scenes, AI will use data sources including in-store customer interactions via mobile devices and through sensors to optimize store layouts and improve inventory management and supply chain efficiency, reducing costs and increasing profitability.

Click here to read Motukuri’s full article.