10 Exciting Real-World Applications of Artificial Intelligence in Retail

Our core retail experience hasn't changed much in recent years. We go into a store (or to an online portal), we browse through the available options, try them out and make the purchase. Well, that's where the disruptions are happening thanks to artificial intelligence (AI). It has completely transformed the way we handle our retail experience – both from a customer's perspective as well from a business standpoint. Artificial Intelligence creates an opportunity for retailers to bridge the gap between virtual and physical sales channels. Brands are progressively using Artificial Intelligence to reduce cost, improve efficiency, achieve operational agility and increase the speed of decision making in the retail world. According to IBM's recent study, AI-driven intelligent automation in the retail and consumer products industries is projected to leap from 40 percent of companies today to more than 80 percent in the next three years.