Deep Dive: Artificial Intelligence in Retail--Offering Data-Driven Personalization and Customer Service - Fung Global Retail & Technology

AI enables computers to make autonomous decisions. It is a step forward in automation that is changing the retail industry. In retail, AI is used to analyze customer data, adapt how companies interact with shoppers and predict consumer demand in order to better manage inventory. For example, AI can decide for the retailer what items to show to shoppers and how to display and present them, and it can recreate the interaction that the shopper experiences with store associates at brick-and-mortar stores by guiding and advising the customer. AI enables retailers to drive sales and anticipate demand, gain a better understanding of consumer behavior and offer highly accurate, individualized promotions.