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Learn how retailers are strategizing around this groundbreaking technology
Generative Artificial intelligence (GenAI) has emerged as a must-have technology for deeper personalization and better customer experiences, but many retailers find themselves in the awkward position of not knowing how or where to begin…and which use cases to tackle first.
This survey of more than 100 retail leaders across the US and Canada offers some surprising insights into how their organizations are managing internal challenges to adopt GenAI along with the urgency to realize its advantages for improving e-commerce shopping experiences.
Some of the key findings include:
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GenAI applications in retail span a wide range of functions, including personalized shopping experiences, virtual try-on solutions, and intelligent chatbots and virtual assistants. Retailers are also leveraging GenAI for dynamic pricing strategies, inventory management and demand forecasting, AI-generated product descriptions, and enhanced fraud detection. These diverse applications highlight the technology’s potential to revolutionize multiple aspects of the retail experience.
As retailers navigate this AI-driven transformation, they face several challenges and considerations. These include ensuring data privacy and security, developing guidelines for ethical AI use, seamlessly integrating GenAI with existing systems, providing adequate employee training for AI adoption, and establishing metrics to accurately measure the return on investment in AI technologies.
GenAI is starting to play a crucial role in shaping the future of retail and eCommerce. From hyper-personalized experiences to AI-optimized supply chains, the possibilities are vast. Retailers who successfully harness GenAI will be well-positioned to thrive in the competitive digital marketplace. To stay ahead of the curve, industry leaders are actively incorporating GenAI into their operations and developing strategic plans for future adoption. Discover how these forward-thinking retailers are leveraging GenAI to transform their businesses.
Download your complimentary copy of our in-depth report today and gain valuable insights into the future of AI-driven retail!
