AI's role in changing the outlook of the retail industry

The following is a guest blog post by Sahir Anand, Managing Vice-President, Research & Strategy, EnsembleIQ. Artificial Intelligence is defined as the study of "intelligent agents" and takes place when a device perceives its environment and takes actions that maximize its chance of success at some goal. Colloquially, the term "artificial intelligence" is applied when a machine mimics "cognitive" functions that humans associate with other human minds, such as "learning" and "problem solving." While traditional data mining extracts data for humans to analyze, AI draws conclusions on its own. AI uses predictive models and machine-learning to advance company strategy and relieve end-user efforts.