Retail Doubling Adoption of AI

Adoption of AI-driven intelligent automation in the retail and consumer products industries is projected to leap from 40% of companies today to more than 80% in three years, according to a new study from the IBM Institute for Business Value study, developed in collaboration with the National Retail Federation. Intelligent automation represents a major technological breakthrough that has the potential to not just improve, but to transform the way companies do business. In intelligent automation, artificial intelligence (AI) is infused into automation, enabling machines to learn and generate recommendations and to make autonomous decisions and self-remediate over time. In retail, the highest growth is expected in supply-chain planning (85%). Retailers and brands are initially using intelligent automation to improve efficiency and reduce costs.