ROI Of AI: 5 Ways Retailers Are Embracing The Innovation - Retail TouchPoints

At Retail TouchPoints, we've reported on at least 50 AI-related stories in the last 10 months alone. Most retailers are aware of AI to some degree; many retailers are trying to fit AI strategies into their future budgets; and a number of retailers already have started testing and implementing AI projects to improve mobile sales, social commerce, product promotion, personalized recommendations and sentiment analysis. Many prominent retail industry analysts have reported on AI in studies, videos and reports, including IDC's Greg Girard, who spoke at the 2017 Retail Innovation Conference. Watch his video presentation here: Artificial Intelligence In Retail: It's Time Now. Girard and IDC predict that worldwide spending on cognitive intelligence and AI will reach $12.5 billion in 2017, an increase of 59.3% over 2016. Girard also shared: "By 2019, artificial intelligence will change how 25% of merchants, marketers, planners and operators work, improving productivity by 30% and KPIs by 10% to 20%. AI will help teams work better together."