"I am very interested in what is happening in Latin America and I think (in) Brazil there is an awful lot of quite smart investment," he added, noting that he thinks Europe is being a bit slow. The latest research report titled "Artificial Intelligence in Retail Market" published by Industry Research expects AI in the retail market to grow globally at a compound annual growth rate (CAGR) of over 35 percent from 2019 to 2024. The report also notes that the growing trend of rising technology adoption in the industry can be associated with the need for streamlining retail operations, minimising efforts, and increasing revenue mostly for e-commerce retailers. The application of artificial intelligence (AI), big data and analytics will enable businesses with a data-driven model by expanding the types of data that can be analysed and raise the level of sophistication of the resulting insight, according to the report. Owen Farrow, Leader Consumer Industry at IBM Middle East told Zawya on the sidelines of the event that the UAE particularly is becoming a more common place to talk to people about AI and stands out for leading with experience.