The retail industry looks set to end this year, having poured more investment into Artificial Intelligence than the previous top AI-spending sector, banking, according to a recent report from International Data Corp.
Retail giants including Wayfair, Ikea, Walmart and Ocado are turning to the technology for a wider range of operations, from inventory management to delivery and more personalized online search and shopping.
Meanwhile, PwC forecasts that AI has the potential to add a 10% boost to the UK economy of £232bn before the end of the decade.
Serious investment in AI has moved it rapidly from proof of concepts with lots of potential to a major business focus, helped in part by the acceleration of e-commerce during the pandemic.
Retail will now be a major beneficiary of 10 years of technology innovation, which took place over the course of just 90 days in 2020 and AI will play a leading role.
But from a marketing perspective, how can AI’s rapid evolution help to capture consumer attention near the top of the purchasing funnel?
Continue reading: https://mediatel.co.uk/news/2021/12/20/where-ai-is-heading-and-how-it-can-help-retail-media-plans/
Retail giants including Wayfair, Ikea, Walmart and Ocado are turning to the technology for a wider range of operations, from inventory management to delivery and more personalized online search and shopping.
Meanwhile, PwC forecasts that AI has the potential to add a 10% boost to the UK economy of £232bn before the end of the decade.
Serious investment in AI has moved it rapidly from proof of concepts with lots of potential to a major business focus, helped in part by the acceleration of e-commerce during the pandemic.
Retail will now be a major beneficiary of 10 years of technology innovation, which took place over the course of just 90 days in 2020 and AI will play a leading role.
But from a marketing perspective, how can AI’s rapid evolution help to capture consumer attention near the top of the purchasing funnel?
Continue reading: https://mediatel.co.uk/news/2021/12/20/where-ai-is-heading-and-how-it-can-help-retail-media-plans/
