Impact of Artificial Intelligence On Retail Industry

The retail industry is in a constant state of transformation. The retailers are attempting to survive the fierce competition in the market and fast-changing customer shopping habits. Retail business owners are investing in cutting-edge technologies, including Artificial Intelligence (AI), robotics, data analytics, and logistics automation, becoming more customer-centric and responsive to demands in the industry. Among these advanced technologies, AI has a significant impact on almost every operation within a retail business. By 2020, retailers are expected to spend $7.3 billion annually on Artificial Intelligence technology.