Global News and Digital
Insights for the Food and Grocery Industry

The future of retail: Using AI to enhance the shopping experience

In 2023, AI is predicted to have a massive influence on the retail business, despite the fact that physical storefronts still account for 87% of all retail sales in the United States. Online retail is still growing, although the surge in adoption driven by the epidemic has slowed dramatically. In the face of severe economic conditions, retailers are focusing on brick-and-mortar innovation. AI will be used in customer service, providing buyers with personalised advice and recommendations in real time, and is expected to reach $24.1 billion globally by 2028, growing at a 24.4% CAGR. AI-powered visual search and image recognition technologies will become increasingly common, allowing customers to quickly locate things by snapping a photo or uploading an image, as well as using AI-powered virtual reality settings to experience products. Ambient computing and artificial intelligence (AI) will also be used for predictive analysis and demand forecasting, allowing retailers to anticipate customer trends and make appropriate product changes.

Read more from Forbes
Share on facebook
Share on twitter
Share on linkedin