How Artificial Intelligence and Machine Learning Assist Retailers and Consumers

Implementing AI solutions in brick-and-mortar retail is naturally more challenging than online retail, yet taking a step back, both are still surprisingly only in early stages. According to a 2018 study by Capgemini, over a quarter of the top 250 global retailers are integrating AI into their organizations (a sharp increase from 2016, when it was only a small minority of 4 percent). However, the study also found that only 1 percent of AI initiatives reach full-scale deployment. This is about to change. According to McKinsey Global Institute, investments by retail and CPG in artificial intelligence are expected to exceed $8 billion by 2024.