Artificial Intelligence offers $340 billion opportunity to retail sector: Capgemini

The use of Artificial Intelligence (AI) offers about $340 billion cost-saving opportunities for those retail sectors that are able to balance and increase the scope of their current deployments, according to a new global study from French technology services NSE 0.05 % major Capgemini. But, only one percent of retailers have got this level of deployment till now, showed the results from the study titled "Building the Retail Superstar: How unleashing AI across functions offers a multi-billion dollar opportunity". According to the study, most retailers are concentrating their AI efforts on sales and marketing purposes. And there is also a major opportunity to release AI use cases across the value chain. "Our research shows a clear imbalance of organisations prioritizing cost, data and ROI (return on investment) when deploying AI, with only a small minority considering the customer pain points also," Kees Jacobs, Vice President, Global Consumer Products and Retail Sector at Capgemini said in a statement.