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I, retail robot – how AI is changing the face of the market - Fourth Source

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With the Artificial Intelligence (AI) market predicted to grow at a CAGR of 53.65% from 2015 to 2020, momentum for AI is undoubtedly surging. AI, which is essentially the capability of a machine to imitate intelligent human behaviour (such as visual perception, speech recognition, etc.) and carry out multiple tasks, is proven to drive greater efficiency, and is on course to play a key role in propelling the growth of the retail sector. As consumers continue to demand greater speed and easier access to product and service information, fuelled by our connected world and the internet of things, AI will dramatically enhance the customer experience through improving responsiveness, personalisation and productivity. The potential of AI and its anticipated impact on the future of retail is massive, and by embracing it early on, brands and retailers have the opportunity to gain a major competitive edge. In a world where a growing number of customers now check their smartphones while in store and browse consumer-generated content (CGC), such as product ratings, reviews and Q&As, photos and videos, retailers and brands need to evolve and react to demands that blur the lines between online and offline shopper journeys.


How Artificial Intelligence Has Transformed The eCommerce World

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Artificial intelligence is sweeping through the eCommerce sector. In fact, marketers report that there's been a 186% increase in AI adoption since 2018. Not only that, but 79% of organizations say that marketing and sales AI has increased revenue for their companies. But it's not just profits that have been transformed by artificial intelligence. The way in which eCommerce companies operate has seen monumental innovations, thanks to AI. Artificial intelligence (AI) has crept into all corners of eCommerce, from customer support to manufacturing.


How is AI Helping the eCommerce Industry? - ReadWrite

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The eCommerce industry is booming like never before with the introduction of new technologies. The eCommerce industry is witnessing a redefined form that takes customers to a new level of experience and gratification. But how is AI helping the eCommerce industry? Traditionally, retail businesses were satisfied by just making an eCommerce website for their brick and mortar stores, but it is not enough now. You have to evolve with new emerging technologies to provide immense value to the users.


Top 12 AI Trends in Retail and E-Commerce in 2021

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Artificial intelligence (AI) has been a game-changer for the retail and E-commerce industries. According to Statista, retail sales are projected to amount to around $30 trillion by 2023. According to Nasdaq, 95% of purchases will be facilitated by E-commerce by 2040. No doubt, AI will be shaping retail digitization. AI has pretty much to offer the retail industry.


123 AI Use Cases & Applications in 2018: In-Depth Guide

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We are tracking the most impactful AI use cases here. This is meant to be a list that grows over time so feel free to contribute with your comments, this list is definitely not comprehensive now. And share the knowledge with your twitter followers: @AndrewYNg claims that "AI is the new electricity". We compiled 100 applications runnning on this new electricity. Marketing can be summarized as reaching the customer with the right offer, the right message, at the right time, through the right channel while constantly learning. Optimizing product, pricing & placement allows marketers to create an attractive value proposition to customers. Gesture Control: Gesture control enables higher levels of activity and engagement by allowing users another mode of interaction with your digital products. Quantify the gesture levels and other engagements in order to provide meaningful insights. Pricing Optimization: Also called dynamic pricing or demand pricing, pricing optimization allows companies to optimize markdowns. Optimal markdowns minimize cannibalization while maximizing revenues. One of the easiest transformations a business can achieve, dynamic prices directly impact the bottom line and can be rolled out in a matter of days. Optimize markdowns to minimize cannibalization while maximizing revenues. Identify which products are of significant importance for customers.