AI : Key Force in Future of Retail
retailciooutlook

AI : Key Force in Future of Retail

By Retail CIO Outlook | Friday, February 15, 2019

Artificial IntelligenceRetail is directly associated with end-consumers. Modification and ripples of technological disruption in this industry show a direct impact on the customers. Automation and artificial intelligence are like other sectors are also disrupting the retail for better. In the future, AI breakthroughs would result in complete automation. Here is a list of key tools and technologies.

Sales and CRM Tools

Sales and CRM tools are apparent to emerge; already efforts are being put to build automated tools that can act as a helping hand in the process. Automating most of the processes would increase operational efficiency. AI-powered sales assistant are highly anticipated in the future as they will be capable of comprehending buyers purchase patterns and market products accordingly to them. These assistants are capable of delivering personalized experiences to each customer by analyzing their search pattern in real-time. Answering monotonous queries are already being offered by the chatbots powered by AI.

Exploring the Core

Till date, most AI applications are just a small presentation of its capabilities. Soon retailers will start to explore the core capabilities of the technology and use applications build on them.  Currently, the technology is in is research and development phase and many more breakthroughs are evident to make their way into the automation landscape. As the technology will get explored, it will take automation to new heights especially in retail such as automatic order placement, advance settlements, and several others.

AI in Retail Security

Retailers at times are not concerned about their cybersecurity measures as they believe hackers target only blue-chip organizations, which indeed is a myth. Retail cyber infrastructures are easy targets to carry out malicious activities and give direct access to sensitive customer data. To ensure the security of their database from existing, real-time, and future cyber onslaughts retail businesses will have to adopt AI tools that are capable of delivering the same.  

Weekly Brief

New Editions