Ikea sees 'massive opportunities' with artificial intelligence and virtual reality

Sweden's flatpack furniture giant is exploring how to make the best use of artificial intelligence (AI) and virtual reality. Speaking at the World Economic Forum (WEF) in Davos on Thursday, Jesper Brodin, CEO of Ikea, told CNBC: "(What) we haven't been able to do before is to find easier ways to connect with people so digital opens up massive opportunities for us." Brodin added a "major shift" in technology over recent years had prompted the furniture powerhouse to begin testing AI and virtual reality. Several retailers have been betting on AI as the tech becomes more sophisticated and as competition from the likes of Amazon grows even tougher.