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Why use AI in Retail? (Plus Best Practices) Artificial Intelligence (AI) and retail are a good fit. The COVID-19 pandemic has accelerated digital transformation worldwide and is whipping up different business verticals to adopt various AI technologies. As per the UNCTAD survey, more than half of consumers of the emerging and developed economies are shopping online. The part of AI in the retail market in 2020 was valued at USD 1,80 billion and is expected to reach USD 10,90 billion at a CAGR of 3

Recommender systems are lifesavers in the infinite seething sea of e-commerce, improving customer experience. Recommender engines are eliminating the tyranny of choice, smoothing the way for decision-making, and boosting online sales. Moreover, ubiquitous AI technologies are sneaking into e-commerce, too, not only solving the problems of irrelevant recommendations but predicting the customer’s next steps. In light of the pandemic’s impact, online sales are projected to grow twice in the next thr

To make retail trade more effective, owners wished for centuries to understand what the clients want and what they see when they enter the shop. A lot was written and done on increasing the attractiveness of the premises and putting the goods in a particular fashion. Both owners and assistants were trying to develop their designer skills, good eye for clients, and intuition. It is at present, that the development of AI and Machine Learning made it possible for good analytics and statistical data