The global artificial intelligence (AI) in retail market attained $720.0 million in 2018 and is predicted to witness a CAGR of 35.4%

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GNW The global artificial intelligence (AI) in retail market attained $720.0 million in 2018 and is predicted to witness a CAGR of 35.4% during 2019–2024 (forecast period). The factors contributing to the growth of the market include the increasing investments in AI by retail companies and expanding e-retail industry. With AI, retailers have been able to automate their work processes, study consumer behavior, and capture relevant data through the adoption of numerous advanced technologies, such as machine learning, natural language processing (NLP), and computer vision. When technology is considered, the AI in retail market is divided into computer vision, NLP, machine learning, and others (which include gesture recognition and analytics). Machine learning generated the highest revenue during the historical period (2014–2018) and is expected to dominate the market during the forecast period as well.

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