In 2018, the economic uncertainty and weak confidence in sales complicated the retail industry’s previsions. However, according to Capgemini, a wider deployment of artificial intelligence (AI) could be the solution towards improved growth. For example, AI-backed demand forecasting is rapidly becoming a major tool for retailers.
Implementing AI across procurement, supply chain, logistics, returns and in-store “pilferage” could generate at least US$339 billion in cost savings. With analysts expecting global annual spending on AI by retailers to hit US$7.3 billion by 2022, AI tools that will enable them to differentiate themselves through personalized services will boost the customer experience (CX). […]