Artificial intelligence is key to the future of online retailers

According to the heads of a number of online retailers, artificial intelligence (AI) will play a key role in the future of the industry due to how it can be utilised to aid consumers in discovering new products and identifying what they want to buy. The chief executive of Shop Direct, Alex Baldock, believes that AI could be the company's "big bet" as it will provide a significant advantage to the retailer when dealing with its customers. Baldock explained how the new technology could help its business during a panel discussing technology's role in business, saying: "You have three seconds to seize the shopper's attention – it's called thumb stopping, the three-second audition. That's where personalisation comes in." Adrian Blair, the chief executive of Just Eat, was also present on the panel and noted that his company takes 80 per cent of its orders on mobile devices.