It’s undeniable that artificial intelligence is having a major impact across industries. But what does that mean in dollars and cents? IHL Group has estimated the business impact of AI, GenAI and machine learning on the retail and restaurant sectors through 2029 at $1.5 trillion. IHL also ranks companies on AI readiness and projected business impact. IHL president Greg Busek breaks down their findings.
To minimize the impact of the great holiday shortage of 2021, retailers need to leverage innovative technologies and their insights to help navigate supply chain disruptions and reduce the risk of driving customers away now and into 2022. Here are some critical ways technology can help mitigate the pain of out of stocks.
Online surveys provide valuable insights into everything from product design and packaging to consumer buying habits. But today’s research platforms often impose a tradeoff between speed and simplicity and the richness of actionable insights. A combination of machine learning and crowdsourcing concepts is solving this problem.
Software company Remesh, whose platform uses artificial intelligence to create real-time market research, has raised $25 million in new funding to support expanded product offerings and growth. Founded in 2014, Remesh has raised more than $38 million to fuel its growth in the $71 billion market research industry.
If you’re looking for a strategy to get ahead in customer acquisition, machine learning can be your secret weapon. True AI can think for itself, while ML can automate tasks and apply predictive analytics that drive meaningful growth. ML is the AI focal point for your CRM tool and can be the key to boosting customer acquisition.
Artificial intelligence is an integral part of the future of ecommerce. Profitable companies will understand how to make technology work in tandem with human counterparts rather than give in to fear that automation will replace people’s jobs.
While there were several closures of traditional mainstays who failed to fully adapt to changing consumer needs and expectations, brick and mortar is finding new life through deeply integrated and personalized shopping experiences. As the New Year approaches, here are a few things we can expect to see from the retail industry.
With almost a decade working in fraud prevention, there are plenty of different strategies, buzzwords and solutions come and go, but nothing as dynamic as today’s fraud prevention landscape. Here are five predictions in the fraud prevention market to look out for in the next five years.
At its simplest, machine learning (ML) refers to the capacity for a program to automatically improve, or “learn,” as it ingests data to accomplish a specific task or set of tasks. Here are three ways retailers can use machine learning to their benefit.
The National Retail Federation’s Big Show was buzzing in New York as tens of thousands of attendees celebrated the encouraging growth of 2017 holiday sales, while gazing at next-gen technology offerings that promised greater personalization, engagement and enhanced customer experiences, further melding the physical and digital realms. Here is a snapshot look at some of the latest trends at NRF’s Big Show.