Artificial Intelligence in retail – how will you apply it for the best outcome?

When reviewing 2018's retail landscape, there have certainly been ongoing challenges and opportunities that have pushed the evolution of retail to match the demands of a changing consumer. Mobile technology, speed of service/delivery, and low prices are just the tip of the iceberg. In recent discussions with a variety of retailers and retail analysts in Australia and New Zealand, artificial intelligence (AI) and machine learning (ML) are high on everyone's list of toys for the New Year to generate efficiencies across the retail enterprise. The question retailers are asking is whether to build an AI/ML engine themselves or, more probable, turn to a specialised software company already operating in the AI/ML space. Consumers want their product and they want it now -- in their size, flavour, length, shape, brand, weight.