• Retailers plan to invest heavily in AI this year, with many doubling their IT budgets.
  • Survey finds AI is seen as a driver of innovation, reduced risk, and sales growth.
  • Top challenges include ensuring data accuracy, cybersecurity, and privacy.
  • AI is being used to improve customer experience, personalize marketing, and develop new products.

The study suggests retailers view AI as a strategic lever for growth, but also acknowledge challenges in implementation and data management.