Adding AI to retail boosts personalised offerings

The retail space is changing drastically through the evolution of technology, such as artificial intelligence (AI), which can offer retailers better control over stock flows and better customer service. This technology, and in particular machine learning, can step in to help retailers cater to the needs of their customers in smarter ways. Retail goods, even the most niche products, are becoming more and more commoditised and price parity means retailers have to look continuously for more innovative ways to keep customers loyal. A high-end jewellery retailer, a sporting goods store and a grocer all have very different target markets and their customer's behaviour patterns are very different, but the beauty of machine learning, an emerging technology, is that it quickly adapts to any type of environment. Machine learning is a form of AI that allows computers to learn without being programmed.