Global Artificial Intelligence in Retail Market 2019: Solution Providers and Innovators Helping Retailers Keep up With Amazon

Press Releases

Nov 01, 2019

DUBLIN, Nov. 1, 2019 /PRNewswire/ — The “Global Artificial Intelligence in Retail – Use Cases and Transformational Impact, 2019” report has been added to ResearchAndMarkets.com’s offering.

This research service provides an original perspective on how artificial intelligence (AI) is making its way into the retail sector. Retail has entered a new era where eCommerce and technology bellwethers like Alibaba, Amazon, Apple, Baidu, Facebook, Google, Microsoft, and Tencent have raised consumers’ expectations. AI is enabling automated decision-making with accuracy and speed, based on data analytics, coupled with self-learning abilities. It has passed a critical usefulness threshold but is also overhyped.

AI depends on other technologies such as the Internet of Things (IoT) to provide it with quality data to be able to address specific use cases of which there is a constantly growing number across industries and value chains, from customer-facing through core operational processes to the back-office. The need for this linkage highlights the importance of a carefully planned digital transformation strategy wherein deployment takes into account dependencies between technologies.

At the same time, growing fondness of retailers to experiment with, and take into production, emerging technologies for personalisation, human-machine interaction, automation and friction reduction, support greater efficiency and the delivery of better user experiences. As online and offline converge to become simply parts of the shopping experience, analytics identify and propose products to the needs and tastes of individual shoppers or shopper-captured images. Personalisation of offers and prices aspire to become real time in physical environments as well.

Chatbots and social robots are becoming increasingly common to provide advice and support, while AI will increasingly pervade every business process and function across the retail value chain. The frequent last-touch experience of the shopper with AI will be frictionless checkout (unless there is subsequent need to turn back to customer service chatbots).

Data remains the new oil’ that is the indispensable foundation for AI to work while the tension with privacy increases. Merchants and other ecosystem players’ fight for the customer interface is not just a fight for sales and margins. It is just as much as fight for the ability to collect data.

Data will determine the medium-term ability of a merchant to deliver a positive customer experience based on the merchant’s AI being able to make accurate predictions about offering the right product or service, at the right price, the right time and in the right way to the right customers. This research service takes retailers and other readers on an exploratory journey through AI-related changes in the retail environment to provide orientation in this fast-evolving environment.

Key Topics Covered:

Executive Summary

Key Findings

Research Scope and Methodology

Research Aim and Scope
Research Methodology
Key Questions this Study will Answer

Technology Status, Trends, and Business Models – Artificial Intelligence: Foundations

Overview of AI
Which AI Sub-Technologies are Gearing up?
The Science and Engineering Behind AI
AI Value Chain
Ecosystem Development – From Data to Self-learning Systems, the Next Frontier
Pervasive AI Applications
AI Applications that Span Industries and Functions
Spectrum of AI Systems
AI Innovation Hot Spots
AI – Key Challenges

Technology Status, Trends, and Business Models – Retail End-User Perspective

Business Objectives in the Retail Industry
Top IT Drivers of Digital Retail
Emerging Technology Deployment in the Retail Sector
Stage of Emerging Technology Deployment in the Retail Sector
Top Reasons Why Retailers Invest in AI
Top Concerns for Retailers with Regards to AI

Transformational Applications of AI in Retail

AI-Driven Integrated Commerce Framework

Discovery, Social and Visual Commerce

Pinterest – A Place for Inspiration and Discovery
Solution Providers and Innovators Turning Retail Upside

Perfect Personalisation and Experiential Commerce

Dynamic Yield – Making Every Customer a VIP
Solution Providers and Innovators Making Every Customers a Segment of One (VIP)

Non-human Agents

Pepper Robot – Robots Blending in With People
Solution Providers and Innovators Giving Customers Non-human Interlocutors

Next-Gen Retail Planning, Logistics and Operations

Ocado – Digital Grocer Transforming Warehousing
Solution Providers and Innovators Upgrading the Retail Engine Room’ Next-Gen Retail Planning and Operations

Ambient and Frictionless Commerce

Amazon’s Checkout-free Go Store – Starting Signal for the Checkout-free Shopping Race
Solution Providers and Innovators Helping Retailers Keep up With Amazon

Growth Opportunity