AI Shows Promise And Limitations For Retailers PYMNTS.com

Artificial intelligence at its most basic level provides steroids for retail data. Suppose a regional fashion retailer with an eCommerce presence has 100,000 customers in its data base. And suppose those records are fairly basic: most recent transactions, average purchase per visit, demographic information and website traffic history. Now suppose those records are supplemented by a third-party anonymized database. AI will take that data and match it to an algorithm that then allows all the data to be supplemented by data within the category or for competitive purchases.