Overcoming Roadblocks Retailers Face When Implementing AI

It might feel as though artificial intelligence has reached a critical mass, but it hasn’t. In fact, it’s only starting to make an impact in some sectors, including retail. But, according to findings collected by KPMG, retail AI has room to grow — and a lot of it. And by 2027, AI in retail will balloon to $19.9 billion from around $7.3 billion in predicted spending in 2022, per Meticulous Research.
All this, and only half of the retail professionals believe they’ve scratched the surface of what’s possible when the technology meets in-person shopping. So why the lag time despite AI’s potential? Blame it on the confusion around AI in general.
What AI Is — and Isn’t
Many people don’t understand AI conceptually. This leaves them less likely to invest in the emerging technology, even as they see it working for e-commerce. Or, they feel like AI is limited to robots that stock shelves.
AI is more straightforward than what many retailers imagine, though.
In essence, AI algorithms are mere “…

Written By: Scott T. Reese

Original Article: https://readwrite.com/2021/10/01/overcoming-roadblocks-retailers-face-when-implementing-ai/

Leave a Comment