Retailers the world over are relying on technology to predict consumers' purchase behaviour. For example, in its flagship store in London, Marks & Spencer analyses data from videos and IoT (Internet of Things) sensors to equip its employees to serve customers in a personalised way. UK-based supermarket chain Sainsbury's is also developing a data insights platform, which will analyse real-time consumer data and identify current trends. McDonald's in the US is reportedly working on a technology that would predict a customer's order, based on his or her past purchases. With the pressure to reinvent marketing strategies mounting, retailers in India, too, are rising to the occasion. Of late, a few offline retailers have been tapping social media analytics, machine learning and artificial intelligence (AI) data to gather information about consumers' buying history and online activities.

Technology for MSMEs: As the fourth industrial revolution is seemingly upon us with deep technologies including artificial intelligence (AI), machine learning (ML) being its key drivers, small and emerging businesses in India are increasingly becoming cognizant of upskilling themselves in modern technologies to drive their future growth, according to a survey by upskilling company Great Learning. AI/ML, digital marketing followed by design thinking are the most crucial skills required to stay relevant in the future, according to 25 per cent, 19 per cent, and 10 per cent of 307 businesses surveyed with the majority being small and medium-sized businesses. "Lack of skilled talent in technology is among the key problems that businesses face in India. Even though companies know about the need to bridge this gap, they must take steps immediately towards it," Hari Krishnan Nair, Co-founder, Great Learning told Financial Express Online. Importantly, despite the awareness, 47 per cent of the businesses haven't assigned the budget for upskilling yet even as nearly 30 per cent firms said that they spend over Rs 1 lakh per employee per annum on upskilling and another around 14 per cent spend over Rs 3 lakh per employee per annum for the same.