A key element for Retail Companies in achieving ROI results

A key element for Retail Companies in achieving ROI results

By: Retail CIO Outlook | Thursday, March 07, 2019

Retail CompaniesAs we already know, Artificial Intelligence (AI) is one of the fastest growing technologies, which solve a lot of practical challenges faced by humankind. The use of AI in the field of business, always help in optimizing the industrial operations in terms of time, cost and labor. Many large and small scale retailers have employed AI-based applications to achieve productive as well as financial goals.

Predicting human behavior has become way easier than ever with the use of artificial intelligence. Diverging into applying other supportive concepts such as machine learning, video analytics, etc. favor easy prediction of human conduct. As a result of the same, we have cars 0and other such bots, which are technically safe and sound, resonating in the current software industry.

Few Retail Tech Companies: FreedomPayAppriss RetailCreatuity

With these remarkable advancements and result-driven applied sciences, investing in artificial intelligence can seamlessly bring a rise in the graph of profits and returns, a business can expect. Axios, an HTTP solution company shared that its venture capitalist has invested around $8B in the year of 2018. Every successful investment plan throws light on the returns: the fact that the investing parties would get huge benefits and gains cannot be denied. However, investing in AI has still not answered a couple of questions concerning the cost of taking risks, the amount spent on machinery, resources and grounding processes, and the answer for who exactly would be getting a chance to enjoy huge returns remains unclear.

Check this out: Top Retail Tech Companies

The idea of self-driving cars sounds cheesy. It attracts today’s business and tech aspirants but, the car insurers might have to see a downfall in receiving their share of profits as the AI technology involved in the making of car bots do not need to get insured. Investing in AI might be a boon to a few retailers but for others, it may be a pitfall.       

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