- 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.
Retailers: Time to listen to your customers and adapt!
Retailers think they're winning on customer experience, but data tells a different story:
- 86% of retailers give themselves high marks.
- Average customer satisfaction score (NPS) lags behind the industry average.
The key to closing the gap?
Five Retail Trends for 2024
Despite economic uncertainties and consumer frustration around high prices this year, the economy showed robust growth, presenting both challenges and opportunities for brands.
How AI Boosts Christmas Sales with Customer-centric Language
AI has had a banner year. And while many in retail have been using machine learning for years to streamline and automate back-end functions like replenishment and inventory management, the new customer-facing applications of the next generation of AI technologies is just starting to take off.
The generation most open to holiday shopping with AI is…
A new survey reveals how many holiday shoppers overall would consider using artificial intelligence (AI) — and as well as which generation is most open to the technology.
How much do retailers use AI in the supply chain?
A new survey reveals the level of penetration artificial intelligence (AI) has in different areas of the retail supply chain.
Unravelling Babel’s tongue: AI within transcreation
AI has potential in ad translation, but creative copywriters still beat it at transcreation – adapting messages between languages with the right tone and context.
Survey reveals how retailers view AI, future deployment plans
Nearly six in 10 respondents plan to adopt AI, machine learning (ML) and computer vision (CV) technologies over the next year to enhance the shopping experience offered in stores and online, according to the Honeywell AI in Retail survey of global retail directors.
How brands can prepare for the AI revolution
This year has been pivotal for artificial intelligence, with innovations such as ChatGPT creating waves in multiple sectors. As AI introduces capabilities that might seem alarming, find out how businesses can prepare and unlock its value.