Retailers looking to develop new customer experiences need to make artificial intelligence part of their digital transformation plans or risk falling further behind. Before the coronavirus hit, consumer expectations were already changing and creating challenges in the retail industry. And CIOs, who historically had little to do with developing new customer experiences, were increasingly being tasked with driving innovation. To deliver Amazon-like here-and-now products and services and build brand loyalty, they are turning to artificial intelligence (AI) to improve the shopping experience for consumers both in stores and online. Of course, AI alone won't transform retail but there are several key technologies that when married with AI can bring innovation to that industry.

Welcome to the World of Digital Humans - Duration: 61 seconds. This item has been hidden Our Clients Play all CREATING AVA - Duration: 2 minutes, 23 seconds. This item has been hidden Baby X Play all BABYX 5.0 - Duration: 43 seconds. This item has been hidden Live Presentations Play all Imagine a future - Duration: 46 seconds. IBM Watson presents Soul Machines, LENDIT Conference 2017 - Duration: 5 minutes, 12 seconds.

By helping marketers collect data, identify new customer segments and create a more unified marketing and analytics system, AI can scale customer personalization and precision in ways that didn't exist before.

Content provided by IBM with Insider Studios. In the summer of 1956, 10 scientists and mathematicians gathered at New Hampshire's Dartmouth College to brainstorm a new concept Assistant Professor John McCarthy called "artificial intelligence." According to the original proposal for the research project, McCarthy--along with fellow organizers from Harvard, Bell Labs and IBM--wanted to explore the idea of programming machines to use language and solve problems for humans while improving over time. It would be years before these lofty objectives were met, but the summer workshop is credited with launching the field of artificial intelligence (AI). Sixty years later, cognitive scientists, data analysts, UX designers and countless others are doing everything those pioneering scientists hoped for--and more.

In the summer of 1956, 10 scientists and mathematicians gathered at New Hampshire's Dartmouth College to brainstorm a new concept assistant professor John McCarthy called "artificial intelligence." According to the original proposal for the research project, McCarthy -- along with fellow organizers from Harvard, Bell Labs, and IBM -- wanted to explore the idea of programming machines to use language and solve problems for humans while improving over time. It would be years before these lofty objectives were met, but the summer workshop is credited with launching the field of Artificial Intelligence (AI). Sixty years later, cognitive scientists, data analysts, UX designers, and countless others are doing everything those pioneering scientists hoped for -- and more. With deep learning, companies can make extraordinary progress in industries ranging from cybersecurity to marketing.

The Accenture Strategy report, Reworking the Revolution: Are you ready to compete as intelligent technology meets human ingenuity to create the future workforce?, estimates that if businesses invest in Artificial Intelligence (AI) and human-machine collaboration at the same rate as top performing companies, they could boost revenues by 38 percent by 2022 and raise employment levels by 10 percent. Collectively, this would lift profits by US$4.8 trillion globally over the same period. For the average S&P500 company, this equates to US$7.5 billion of revenues and a US$880 million lift to profitability. Both leaders and workers are optimistic about the potential of AI on business results and on work experiences, according to the study. Seventy-two percent of the 1,200 senior executives surveyed said that intelligent technology will be critical to their organization's market differentiation and 61 percent think the share of roles requiring collaboration with AI will rise in the next three years.