How AI is Helping Brands Reimagine Retail

Analysts predict that spending on artificial intelligence (AI) in the retail sector will reach $7.3 billion by 2022, a majority of which will be poured into customer-facing conversational solutions like voice assistants and chatbots. That's not surprising, given how the power of conversation is poised to fundamentally transform customer experiences across industries. The use of consumer-grade digital assistants has exploded in recent years. Consumers have quickly moved beyond "talking" to digital systems for basic information (e.g., weather, traffic, trivia, etc.) and now use them to engage in commerce and other activities. For example, half of respondents to a PWC survey last year said that they had made a purchase via a voice assistant, with an additional 25 percent saying they would consider doing so in the future.